JORC Code Compliant Resources
The JORC-compliant Resource Estimate for the Lance Projects is 58.0 Mlbs, calculated by applying a combined constraint of a GT of 0.2 contour and 200ppm eU3O8. These cut offs are considered to be appropriate for both calculating and reporting of ISR resources at the Lance Projects.
The measured, indicated and inferred resources are located in host sandstones. Geological modelling of the extensive down-hole geophysical data has accurately defined the impermeable shale and mudstone horizons that form the confining horizons to the mineralised sandstones.
Lance Projects Resource Estimate as at 31 December 20231
| Resource Classification | Tonnes Ore (M) | U3O8 kg (M) | U3O8 lbs (M) | Grade (% U3O8) | Location |
| Measured | 3.3 | 1.7 | 3.8 | 0.051 | Wyoming, USA |
| Indicated | 11.0 | 5.6 | 12.4 | 0.051 | Wyoming, USA |
| Inferred | 38.3 | 18.9 | 41.7 | 0.049 | Wyoming, USA |
| Total | 52.6 | 26.3 | 58.0 | 0.050 |
Dagger Project Resource Estimate* as at October 20231
Resource Classification | Tonnes Ore (M) | U3O8 kg (M) | U3O8 lbs (M) | Grade (ppm U3O8) | Location |
| Inferred | 3.0 | 3.1 | 6.9 | 1,037 | Wyoming, USA |
| Total | 3.0 | 3.1 | 6.9 | 1,037 |
1) JORC Table 1 included in an announcement to the ASX released on 14 November 2018: “Revised Lance Projects Resource Tables”, updated in the “Annual Report to Shareholders” released on 29 September 2023 and ASX Announcement released on 23 October 2023: “Peninsula Establishes Significant New Uranium Project” and ASX Announcement released on 13 May 2024: “Mineral Resource Increases 19.6% Within Current Lance Life Of Mine Plan Area”. Peninsula confirms that it is not aware of any new information or data that materially affects the information included in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
*Reported above a 0.02% eU3O8 grade and a 0.2 GT cut-off
Competent Persons Statement
The information on this page that relates to Exploration Results, Mineral Resources or Ore Reserves at the Lance Projects and Dagger Project is based on information compiled by Mr Benjamin Schiffer. Mr Schiffer is a Registered Professional Member of the Society of Mining, Metallurgy and Exploration (Member ID #04170811). Mr Schiffer is a professional geologist employed by independent consultant WWC Engineering. Mr Schiffer has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Schiffer doesn’t hold securities in the Company.
Schedule of Interests in Mining Tenements at 30 September 2023:
| Location / Project Name | Tenement | Percentage |
| Private Land (FEE) – Surface Access Agreement | Approx. 10,273 acres | 100% |
| Private Land (FEE) – Mineral Rights | Approx. 10,568 acres | 100% |
| Federal Mining Claims – Mineral Rights | Approx. 18,789 acres | 100% |
| Federal – Surface Access – Grazing Lease | Approx. 40 acres | 100% |
| State Leases – Mineral Rights | Approx. 12,184 acres | 100% |
| State Leases – Surface Access | Approx. 314 acres | 100% |
| Strata Owned – Surface Access | Approx. 315 acres | 100% |
