PEN - Peninsula Energy significantly expands US uranium portfolio

(NewsDirect)

Peninsula Energy Ltd(ASX:PEN, OTCQB:PENMF) CEO Wayne Heili tells Proactive the company hasexpanded its US uranium portfolio with the newly established DaggerProject, just 20 kilometres northeast of its advanced-stage LanceProject in Wyoming. With an initial inferred mineral resource estimateof 6.9 million pounds of uranium at an average grade of 1,037 partsper million, the Dagger Project presents a compelling addition toPeninsula's portfolio. The Dagger Project sits on an expansive4,140 acres, contiguous with a historically successful uranium miningsite.

Heili said:“We are very excited to complete this successful long-termacquisition initiative, which has resulted in the establishment of theDagger Project which boasts an initial JORC inferred U3O8 mineralresource estimate of 6.9 million pounds U3O8.

Importantly, Dagger islocated only 20 kilometres from our Lance Project facilities, whichprovides the company with an exciting opportunity to further increasethe size and scale of our already sizeable mineral resourceinventory.

“Buoyed by the robust uranium market that provides asupportive environment for re-emerging producers and projectdevelopers, we have utilized our in-house knowledge and expertise toexpand our project pipeline."

ContactDetails

Proactive Investors

JonathanJackson

+61 413 713 744

Jonathan@proactiveinvestors.com

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