Peak Minerals Limited announced the execution of binding agreements to acquire an 80% interest in three separate entities, Minta Resources Pty Ltd. (Minta Resources), African Future Minerals Pty Ltd. (AFM) and Rafia Mining Pty Ltd. (Rafia Mining), which together hold the following exploration permits in Cameroon: 6 exploration permits under valid application over approximately 2,400 km 2 comprising the Kitongo and Lolo Projects which are considered prospective for uranium, held by AFM and Rafia Mining and 18 granted exploration permits, and three exploration permits under valid application over approximately 8,800 km2 comprising the Minta Rutile Project which are considered prospective for rutile, zircon, gold and rare earths, held by Minta Resources, The Kitongo and Lolo Uranium Projects are comprised of 6 exploration permits, all under valid application. The merits of these projects, including prospectivity for uranium, were confirmed by significant historical exploration, initially in 1970s and more recently in 2007 ­ 2011, when systematic exploration by Mega Uranium Ltd,following its acquisition of Nu Energy Corporation in April 2007, produced highly encouraging results from drilling programs undertaken in 2008 and 2010. The Minta Rutile Project is comprised of 18 recently granted exploration permits and 3 applications covering approximately 8,800km2.

Recently completed data and prospectivity analysis, mapping, grab and auger sampling have identified broad areas of high grade alluvial and eluvial rutile, with zones of high-grade zircon and monazite.