Peak Gold announces stock option grants

     VANCOUVER, March 20 /CNW/ - Peak Gold Ltd. (PIK:TSX-V) ("Peak Gold")announced today that it has granted options to purchase an aggregate of 7,318,000 common shares of Peak Gold to certain officers and employees in accordance with its stock option plan. The options are exercisable at a price of $0.62 which was the last closing price on March 19, 2008. The options granted are for a term of five years, expiring on March 20, 2013. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

    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