Vancouver, British Columbia, April 27, 2007 ? Peak Gold Ltd. (PIK:TSX-V) (?Peak Gold?) is pleased to announce that it has completed the previously announced acquisition from Goldcorp Inc. of its Peak mine in Australia for a purchase price of US$200 million in cash.

Peak Gold is a new intermediate gold producer with an active growth strategy for 2007. For further information on Peak Gold, please visit our website at www.peakgold.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements

This press release contains ?forward-looking statements?, within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Peak Gold. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Peak Gold to be materially different from those expressed or implied by such forward-looking statements, such as those factors discussed in the section entitled ?Risk Factors? in Peak Gold?s Filing Statement dated April 2, 2007, available at www.sedar.com. Although Peak Gold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Peak Gold does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

For further information, please contact:

Mélanie Pilon
Vice President, Investor Relations
Peak Gold Ltd.
3400-666 Burrard Street
Vancouver, British Columbia, V6C 2X8
Telephone: (604) 696-4100
Fax: (604) 696-4110

e-mail: info@peakgold.com
website: www.peakgold.com