Peninsula Energy – Lance Uranium Project

Peninsula Energy Limited (Stock Symbols – ASX: PEN, OTCMKTS: PENMF), together with its subsidiaries, engages in the exploration, development, and production mining of uranium deposits in the United States.

The company was formerly known as Peninsula Minerals Limited and changed its name in November 2010.

The company holds a full 100% interest in its flagship Lance projects In-Situ Recovery (ISR) uranium project located in Wyoming.

The Lance project is 135 miles northeast of the city of Casper and 33 miles northeast of Gillette.

Of note is that the Lance uranium project is the only US based operation authorized to use low pH ISR.

Low pH ISR is used by over 55% of the worlds ISR mining operations and includes the lowest cash costs for this type of mining.

The Lance uranium project has a JORC compliant resource of 53.6 million pounds of uranium and produces up to 6.3 million pounds per year to meet contract requirements through the end of the decade for customers across the US and Europe.

Strata Energy is the US subsidiary of Peninsula Energy operating at the Ross uranium project which came online as a producing asset in 2015 in Northeastern Wyoming.

With political support to create a US Uranium Reserve from domestic producers which would contract $1.5 Billion in uranium over a 10 year period, the company would be the only ASX listed company to take advantage of this program.

Peninsula Energy Limited was incorporated in 1993 and is based in West Perth, Australia.

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