PEAKO LIMITED — Capital/Financing Update 2016

Oct 5, 2016

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ASX RELEASE

• 6 October 2016

Peako Awarded Sunday Creek Minerals Exploration Tenement

Peako Limited (“Peako” or the “Company”) (ASX: PKO) announces the grant of Exploration Licence E45/3278 in the Sunday Creek, Paterson Region in Western Australia by the Western Australian Department of Mines and Petroleum (DMP).

The grant of the tenement follows the recent Land Access & Minerals Exploration Agreement executed with the Western Desert Lands Aboriginal Corporation (WDLAC), the representative body for the Martu Traditional Owners with respect to the Sunday Creek project.

E45/3278 covers 60.80 km[2] and is located in the Paterson Region. with the Telfer Gold Mine and Nifty Copper Mine in the same region.

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Figure 1 E45/3278 Sunday Creek Location Map

Peako Limited ABN 79 131 843 868 Level 21 500 Collins Street Melbourne t +61 3 8610 4709 e info@peako.com.au w www.peako.com.au

Previous title to the Project and surrounding areas has in the past been fragmented and the area is underexplored as a consequence. The Sunday Creek area was first explored by others between 1978 and 1981. The lack of high resolution data available at that time resulted in extremely limited structural interpretation by previous explorers.

The Sunday Creek Prospect was identified as a radiometric anomaly without GPS or high resolution airborne data, with subsequent rock chip samples containing copper, uranium and lead. Radiometric anomalies were also followed up with soil geochemical surveys, which produced low assay responses, mainly due to sand cover. High grade intersections were achieved from a limited four-hole reconnaissance drill program on the key target zone.

This reconnaissance drilling was done at very wide spacing of 4km and the prospective contact of 20km strike length remains largely untested, the four drill holes were generally shallow and possibly positioned outside the main target zone.

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Figure 2 Best Uranium Hits in E45/3278 - Location of Occidental 1980 Drill Holes

Peako is in the process of acquiring and assessing past exploration data which will inform and shape its exploration work program for the Sunday Creek project.

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