Peak Gold – An Intermediate Gold Producer

Peak Gold Ltd. emerged as a new intermediate gold producer in April 2007 with the acquisition from Goldcorp of the Peak Mines in New South Wales, Australia and the Amapari mine in Amapá State, Brazil. 

The company is forecasting production of 210,000 to 220,000 ounces of gold in 2008 with cash cost of US$345 to US$365 per ounce. Peak Gold is 100% unhedged, has positive cash   flow from operations, has no debt and has US$180 million in cash as of year end 2007. 

With a seasoned board and management team the company is pursuing an aggressive growth strategy encompassing both acquisition and expansion of existing assets. The company is evaluating the acquisition of high quality assets world wide, producing 100,000 to 200,000 ounces of gold per year, while at Amapari assessing the organic growth opportunities. 

Robert Gallagher, Peak Gold’s new President and CEO joined the Company on February 1st, 2008. Mr. Gallagher has worked in the mining industry for over 30 years and has spent 15 years with Placer Dome and the last 7 years with Newmont Mining Corporation, most recently as Vice President Operations, Asia Pacific. Mr. Gallagher brings to Peak Gold a wealth of experience in the mining industry.   Former President and CEO, Julio Carvalho, remains as a director of the company and will take on the new role as Special Advisor – South America.