NewPeak Metals : Argentinean Gold Project Update

only	Las Opeñas Surface Sampling Results
ASX ANNOUNCEMENT	HIGHLIGHTS
7 JANUARY 2022		 Results from 124 surface exploration samples returned at Las
	Opeñas, confirming Gold and Base Metal mineralisation is
ASX Code: NPM		strongest at surface across the Northern 600 x 100m wide GAIP
	geophysical anomaly.
FSE Code: NPM		 Up to 19.17g/t Gold from additional sampling on the Northern
Shares on Issue		GAIP geophysical anomaly.
	 New zone of breccia discovered at surface within the main
7.6 Billion
	Southern GAIP geophysical anomaly. Results and geophysical
Market Capitalisation	response indicate mineralisation is likely to be at depth.
 Further expanded Magnetics survey and focused GAIP
use
A$15m (at A$0.002 per share)	geophysical studies were completed at Cachi Gold Project
personal
	during December. Processing and interpretation expected by
	early February.
Directors
Nick Mather (Non-Executive Chairman)	 Lakes Blue Energy NL (ASX-LKO) announced progress towards
D vid Mason (Managing Director, CEO)
Brian Moller (Non-Executive Director)	proposed recommencement of trading in its securities on the
A drew Gladman (Non-Executive Director)	ASX by 1 February 2022.
C mpany Secretary
NewPeak Metals Limited, (Company, NewPeak, ASX: NPM) is pleased
Karl Schlobohm		to provide results for further surface exploration undertaken at the Las
Contact Details		Opeñas Gold Project, Argentina. The results have identified that the
	north and south GAIP anomaly show promise in contrasting ways. The
Level 27, 111 Eagle Street	northern GAIP anomaly displays the strongest surface indicators for
Brisbane Qld 4000		precious metals (Gold & Silver) and base metal (Lead) mineralisation.
T l: [phone]		In the south, the discovery of a new breccia zone and deeper
Fax: [phone]		geophysical chargeability response indicates mineralisation may be
			deeper in this area.
			Notable results from the most recent sampling are:
Website: NewPeak.com.au	• 19.17g/t Gold, 34g/t Silver (rockchip sample)
Twitter: @ASX_NPM		• 3.46g/t Gold, 8g/t Silver (rockchip sample)
For		• 3.44g/t Gold, 8g/t Silver (rockchip sample)
	• 1.99g/t Gold, 26g/t Silver (rockchip sample)
	The surface exploration comprised of sampling along 4 lines, each
			approximately 200m long (Figure 1). A total of 80 representative
			samples were taken at 8m intervals along each line. Sampling was
			undertaken by taking rock chip samples of outcrop or by taking grab
			samples of float where outcrop was not present. Another 44 rock chip
			samples were taken over the east-west striking vein breccias in the
			south-eastern area.
1

For personal use only

A total of 124 samples, excluding quality control samples were dispatched to the Alex Stewart Laboratories in Perito Moreno, Santa Cruz. Assaying methods requested included 30g Fire Assay with AAS finish for Gold analysis and 4 Acid Digest Multi-element analysis for 39 other elements which includes Silver.

Surface mapping across the Southern geophysical anomaly identified a new zone of phreatomagmatic breccia, an important rock unit within the mineralised breccia system (Figure 2). Whilst elevated surface Gold results from sampling across the southern anomaly are sporadic, the geophysical section at IP-L400 indicates the main chargeability response is at depth. This potentially indicates that mineralisation associated with the southern anomaly is also likely to be at depth (Figure 3). The northern anomaly however has returned consistent zones of elevated Gold at surface which correlates well to the geophysical section at IP- L400 which has high chargeability at surface which continues at depth.

The sample results continue to reinforce that Las Opeñas is a priority target for drilling with surface exploration reinforcing the potential indicated by the geophysical anomalies. The work undertaken provides further valuable information to guide the next phase of drilling.

Figure 1 - GAIP Chargeability results of the Belleza Target with all surface Gold results at Las Opeñas Gold Project1.

1 Drillhole results as previously reported in the Dark Horse Resources ASX announcement dated 27th May 2019 and two separate Genesis Minerals Limited ASX announcements dated the 17th of December 2012 and 21st August 2014

2

For personal use only

Figure 2 - Gold results plotted against local geology at the at Las Opeñas Gold Project

Figure 3 - IP Chargeability Section through the Belleza Breccia target at the at Las Opeñas Gold Project

Cachi Gold Project

During December 2021, additional geophysics was undertaken at the Cachi Gold Project. The work undertaken involved the expansion of existing ground magnetics data to the north and south and Induced Polarisation (IP) geophysics being carried out on structural zones to map sulphides and assist future drill planning. The processing and interpretation of this data are expected to be complete by early February.

3

For personal use only

Lakes Blue Energy NL Update

Lakes Blue Energy NL (ASX:LKO) ("Lakes Blue") has made significant progress towards the proposed resumption of trading of the company's securities on the ASX. NewPeak holds a pre-dilution 28% stake in Lakes Blue Energy NL.

Lakes Blue's most recent ASX announcement dated 5 January 2022, provided the following update regarding progress toward satisfaction of ASX specified pre-conditions for resumption of trading of the company's shares on ASX.

On 23 December 2021 the ASX granted Lakes Blue a further extension of time, to 1 February 2022, for the company to satisfy the ASX's specified pre-conditions for resumption of trading of the company's securities. Progress toward satisfaction of the three key conditions as per Lakes Blue ASX announcement is as follows:

1. Lakes Blue has finalised arrangements for completion of civil works required for drilling of the Wellesely-2 well, in Queensland. Work will commence shortly.
2. Lakes Blue has also progressed drafting of a full-form Prospectus in accordance with section 710 of the Corporations Act. The Prospectus will be lodged with the ASIC and the ASX as soon as it is completed. The Prospectus provides for a general public offer of shares to raise a minimum of $2.404m up to a maximum of approximately $4.343m. Raising of the minimum amount will be assured through a $0.800m firm advance subscription commitment and a $1.604m underwriting commitment.
3. Lakes Blue has also secured firm arrangements for placement of shares, in addition to those to be offered under the Prospectus, to the value of $1.146m. Taken together, the firm placements and the minimum subscription under the Prospectus will mean the company raises at least $3.550m.

This Announcement has been authorised by the Board of Directors

Mr Karl Schlobohm

Company Secretary

For further information contact:
Mr David Mason	Karl Schlobohm
Managing Director, NewPeak Metals Ltd	Company Secretary, NewPeak Metals Ltd
Ph: [phone]	Ph: [phone]
Email: [e-mail]

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

Follow us on Twitter: @ASX_NPM

COMPETENT PERSON'S STATEMENT

The information herein that relates to Exploration Targets and Exploration Results is based information compiled by Mr Jason McNamara, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr McNamara is employed as the Company's Exploration Manager.

Mr McNamara has more than twenty-five years experience which is relevant to the style of mineralisation and types of deposits being reported and the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ''Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves" (the JORC Code). This public report is issued with the prior written consent of the Competent Person(s) as to the form and context in which it appears.

4

Table 1: Las Opeñas Surface Sample Results (previously reported results indicated in grey)

only
	Sample	Type	Easting	Northing	Lithology	Gold	Silver	Lead	Zinc
	Area					(g/t)	(g/t)	(%)	(%)
	Line 1	ROCK CHIP	2466021	6705616	Breccia	0.07	12.9	0.09	0.02
		ROCK CHIP	2466025	6705614	Breccia	0.03	8.2	0.05	0.03
		ROCK CHIP	2466029	6705603	Breccia	0.03	9.6	0.04	0.02
		CHANNEL (1.0m)	2466032	6705595	Breccia	0.23	2.2	0.15	0.05
		ROCK CHIP	2466035	6705589	Metasediment	0.05	9.8	0.20	0.04
		ROCK CHIP	2466038	6705585	Breccia	0.10	12.9	0.19	0.04
		ROCK CHIP	2466041	6705581	Breccia	0.02	4.5	0.23	0.08
use		ROCK CHIP	2466044	6705574	Breccia	0.02	13.6	0.26	0.06
	ROCK CHIP	2466048	6705566	Breccia	0.05	2.1	0.15	0.05
		ROCK CHIP	2466052	6705558	Breccia	0.11	3.2	0.38	0.04
		CHANNEL (1.5m)	2466056	6705550	Breccia	0.04	1.6	0.18	0.06
		CHANNEL (1.4m)	2466060	6705542	Breccia	0.07	0.8	0.14	0.07
		CHANNEL (1.6m)	2466063	6705534	Breccia	0.52	1.7	0.16	0.04
		ROCK CHIP	2466066	6705526	Metasediment	0.05	1.2	0.06	0.04
		ROCK CHIP	2466070	6705520	Metasediment	0.00	0.0	0.09	0.03
		ROCK CHIP	2466073	6705514	Metasediment	0.01	0.0	0.05	0.03
		ROCK CHIP	2466076	6705508	Metasediment	0.37	4.4	0.04	0.03
personal		ROCK CHIP	2466081	6705500	Metasediment	1.38	6.9	0.06	0.03
	ROCK CHIP	2466086	6705492	Metasediment	0.05	2.4	0.07	0.10
	ROCK CHIP	2466088	6705484	Metasediment	0.00	2.4	0.04	0.05
		ROCK CHIP	2466091	6705476	Dacite	0.60	28.9	0.08	0.04
		ROCK CHIP	2466095	6705468	Dacite	0.04	4.8	0.10	0.03
		ROCK CHIP	2466101	6705460	Breccia	0.04	1.1	0.02	0.02
		ROCK CHIP	2466108	6705452	Breccia	0.58	5.3	0.64	0.05
		ROCK CHIP	2466111	6705444	Breccia	0.19	1.0	0.09	0.05
		ROCK CHIP	2466116	6705434	Breccia	0.30	2.6	0.10	0.07
	Line 2	CHANNEL (1.3m)	2465949	6705621	Metasediment	0.02	1.0	0.04	0.10
		ROCK CHIP	2465952	6705612	Metasediment	0.01	1.7	0.07	0.04
		ROCK CHIP	2465956	6705607	Breccia	0.23	4.9	0.27	0.05
		CHANNEL (1.3m)	2465959	6705602	Breccia	0.04	3.6	0.37	0.04
		CHANNEL (1.5m)	2465966	6705596	Breccia	0.45	1.3	0.12	0.06
		ROCK CHIP	2465969	6705587	Breccia	0.26	2.6	0.06	0.04
		ROCK CHIP	2465976	6705574	Breccia	0.02	1.7	0.13	0.09
		CHANNEL (1.5m)	2465971	6705580	Breccia	0.02	0.8	0.19	0.05
		ROCK CHIP	2465979	6705567	Breccia	0.16	7.9	0.20	0.07
		ROCK CHIP	2465981	6705561	Breccia	0.48	45.4	0.10	0.15
		CHANNEL (1.5m)	2465986	6705555	Breccia	0.03	3.8	0.16	0.05
		CHANNEL (1.5m)	2465989	6705549	Breccia	0.05	3.8	0.37	0.07
		CHANNEL (1.5m)	2465992	6705543	Breccia	0.14	6.9	0.10	0.07
For		ROCK CHIP	2465995	6705534	Breccia	0.13	7.5	0.32	0.09
	ROCK CHIP	2465999	6705521	Metasediment	0.06	1.7	0.11	0.05
	ROCK CHIP	2466001	6705512	Granite	0.13	1.5	0.15	0.02
		CHANNEL (1.5m)	2466008	6705503	Granite	0.05	0.6	0.13	0.04
		CHANNEL (1.5m)	2466010	6705495	Granite	0.00	0.0	0.07	0.03
		ROCK CHIP	2466013	6705484	Granite	0.00	0.0	0.03	0.02
		CHANNEL (1.5m)	2466017	6705471	Granite	0.07	1.5	0.10	0.03
		CHANNEL (1.5m)	2466022	6705466	Granite	0.02	1.1	0.01	0.03
		ROCK CHIP	2466027	6705457	Granite	0.07	0.9	0.07	0.02
		ROCK CHIP	2466033	6705448	Breccia	0.12	2.0	0.15	0.05
		ROCK CHIP	2466034	6705437	Breccia	0.04	3.8	0.09	0.01
		ROCK CHIP	2466036	6705430	Breccia	0.03	1.5	0.20	0.03
		CHANNEL (1.5m)	2466040	6705419	Breccia	0.03	1.6	0.10	0.06
		ROCK CHIP	2466045	6705409	Breccia	0.29	3.0	0.10	0.07
	Line 3	ROCK CHIP	2465877	6705609	Metasediment	0.13	2.1	0.07	0.01
		ROCK CHIP	2465878	6705598	Metasediment	0.02	0.8	0.01	0.03
		ROCK CHIP	2465878	6705585	Metasediment	0.01	1.4	0.03	0.05
		ROCK CHIP	2465883	6705575	Metasediment	0.00	0.0	0.00	0.03
		ROCK CHIP	2465888	6705565	Metasediment	0.02	1.5	0.01	0.02

5