Peninsula Energy Announce Lance Project Update

Peninsula Energy Limited (Peninsula or Company) is pleased to provide an update on operations at the Lance Projects in Wyoming, USA (Lance Projects).
Highlights

• Uranium production ramp up continuing on schedule at Lance Projects:
  • Header House 1 & 2 at steady state;
  • Header House 3 & 4 continuing to ramp up;
  • Header House 5 to be commissioned in October;
  • Header House 6 to be commissioned in November;
  • Header House 7 to be commissioned in December
• Wellfield data package for Mine Unit 2 submitted on schedule to regulators;
• High grade uranium intercepts and good initial flow rates reported from Mine Unit 2 development drilling;
• Significant intercepts include:
  • 10ft @ 1,060ppm U3O8 from 534.5ft (GT 1.06)
  • 12ft @ 800ppm U3O8 from 520.5ft (GT 0.96)
  • 18.5ft @ 510ppm U3O8 from 510.5ft (GT 0.94)
• Official mine opening held at site on 1 September.

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