Peninsula Energy - Wyoming Major Producer

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Peninsula Energy flagship property is the Lance Projects in Wyoming prolific uranium mining district, the Powder River Basin. Production at the Ross Permit area of the Lance Projects began in December 2015. The first sale of uranium was completed in January 2016. Since the start of production, the company has reported that production wells are consistently flowing at above forecasted flow rates. Since production commenced, uranium head grades have continued to increase with the highest including 96 mg/L U3O8, which is above the average used in the financial model. The company has four long-term sales contracts with major U.S. energy producers already in place. In March 2016, Peninsula signed an additional long-term sales contract with a major European utility for 4 million pounds of uranium starting at the end of 2020. Lance

Projects contains at least 53.7 million pounds of U3O8 compared to regional producers having resources in the range of 11.2 million pounds to 21.9 million. Production at the Lance Projects commenced in December 2015. Significant operating margins achievable even at the current uranium price and known to demonstrate significantly low CAPEX and OPEX as well as higher profit margins than most hard-rock uranium producers. The project area covers more than 120 square kilometers within which there is a combined total of 305 line kilometers of known stacked roll fronts. Only a small percentage of this area has been explored with more than 90% of the drilling concentrated with the advanced Ross, Kendrick and Barber areas. Current production is coming from the Ross permit area. The exploration target ranges from 158 to 217 million pounds, sufficient to support a mine life of up to 70 years. Regional operators such as Ur-Energy, Uranerz, Powertech and AUC LLC/Bayswater have reserves less than than Peninsula, which makes it a major uranium miner in the U.S.