Vancouver, British Columbia, November 28, 2007 ? 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, please contact:

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