NEWPEAK METALS LIMITED — Capital/Financing Update 2021

Feb 28, 2021

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Successful Closure of Private Placement

ASX ANNOUNCEMENT

MONDAY, 1 MARCH 2021

ASX Code: NPM

Shares on Issue

4.87 Billion (pre-raise)

Cash on Hand

$1.0m (pre-raise)

Market Capitalisation A$14.6m (at A$0.003 per share)

Directors

Nick Mather (Non-Executive Chairman) David Mason (Managing Director) Brian Moller (Non-Executive Director) Andrew Gladman (Non-Executive Director)

Company Secretary Karl Schlobohm

Contact Details

Level 27, 111 Eagle Street Brisbane Qld 4000 Tel: +61 7 3303 0650 Fax: +61 7 3303 0681

HIGHLIGHTS

• Private placement to qualified institutional and sophisticated investors closes.

• Successful placement undertaken at 0.2 cents per share for a total of $1.6m on Gold and other mineral exploration projects.

NewPeak Metals Ltd, ( Company, NewPeak, ASX:NPM ) is pleased to announce binding commitments for a successful placement of 800 million fully-paid ordinary shares at an issue price of $0.002 per share, to qualified institutional and sophisticated investors, to raise $1,600,000 before costs. The Lead Manager to the placement was 180 Markets, one of Australia's newest deal sharing platforms. 180 Markets raised $1,400,000 for which the Company has agreed to pay them a 6% fee.

NewPeak has drilling programs in Cachi, Argentina and Cap Burn Otago, New Zealand. NewPeak plans to drill in Southern Finland and Sweden during 2021.

Details of the drilling programs for the Cachi and Cap Burn projects have been previously reported to the market, as have the preliminary results from the first pass drilling program at Cachi.

The shares to be issued under the placement will rank equally with the Company’s existing ordinary shares on issue. The Company is presently in the process of finalising the collection of funds, and the placement shares are expected to be issued tomorrow, at which time an Appendix 2A will be lodged.

This Announcement has been authorised by the Board of Directors Mr Karl Schlobohm

Company Secretary

Website: NewPeak.com.au Twitter: @ASX_NPM

For further information contact:

Mr David Mason Karl Schlobohm MD, NewPeak Metals Ltd Company Secretary, NewPeak Metals Ltd Ph: +61 400 707 329 Ph: +61 7 3303 0661 Email: dmason@newpeak.com.au Email: kschlobohm@newpeak.com.au

Company website: http://www.newpeak.com.au

Follow us on Twitter: @ASX_NPM

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