Peak Gold announces completion of $110 million private placement of special warrants



    VANCOUVER, Nov. 28 /CNW/ - Peak Gold Ltd. (PIK:TSX-V) announced today
that it has completed its previously announced private placement of special
warrants raising gross proceeds of $110,792,500. The special warrants, as well
as the common shares and warrants issued upon exercise thereof, are subject to
a four-month hold period under applicable Canadian securities laws which
expires on March 29, 2008.

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the U.S. Securities Act or any
state securities laws and may not be offered or sold within the United States
or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available.

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





For further information:

For further information: Mélanie Hennessey, Vice President, Investor
Relations, Peak Gold Ltd., 3110-666 Burrard Street, Vancouver, British
Columbia, V6C 2X8, Telephone: (604) 696-4100, Toll-free: (888) 220-2760, Fax:
(604) 696-4110, Email: info@peakgold.com, Website: www.peakgold.com; Vanguard
Shareholder Solutions, 1205-1095 West Pender Street, Vancouver, British
Columbia, V6E 2M6, Telephone: (604) 608-0824, Toll Free: (866) 398-1088,
Email: ir@vanguardsolutions.ca

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