where are the sellers, page-63

You are correct SROOD. Expected JORC to be in line with previously announced parameters.

As per recent announcement from PEN:


Initial JORC estimate completion date brought forward to April 2010
The anticipated achievement of this key milestone, ahead of schedule, follows an intensive
drill program at Ross and Barber which has produced numerous high grade uranium
intersections. All the drill-hole data has now been loaded into the Gemcom/Surpac geological
modelling system. This has given Peninsula the ability to apply the Gemcon/Surpac resource
modelling system to uranium roll fronts and is giving Peninsula a competitive advantage in that
it is allowing the fast tracking of resource calculations and drill planning.
A total of 4,086 mineralised intersections have been extracted from the drill-hole database
and entered into the 3D modelling system. A preliminary resource based on a polygonal
method is complete and a GT contour calculation is in progress for validation. Peninsula
expects to complete the calculation of its maiden JORC Resource at the Ross and Barber
projects in mid-late April 2010. Although the resource model is still being fine tuned and the
overall calculations need to be finalised, in terms of size and classification, it is expected to
achieve the exploration target projections.
After the release of the maiden JORC resource, Peninsula plans to continue to upgrade the
resource classification and expand on the initial resource inventory by targeting the nose of
the ore zones in the indentified roll fronts. To this end Peninsula will deploy a further drill rig at
Barber making a total of five rigs operating at Ross and Barber until the end of 2010.