PEN 1.05% 9.4¢ peninsula energy limited

chart observations 7.7, page-21

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    Lance Project Initial Resource Estimate (July 2010 PFS):

    Indicated: 3.6mt @ 510ppm
    Inferred: 10.0mt % 507ppm
    Total: 13.6mt @ 507ppm

    *Ross cut off 325ppm, Barber cut off 275ppm

    vs

    Updated resource estimate (June 2011):

    Measured: 3.6mt 478ppm
    Indicated: 7.8mt 439ppm
    Inferred: 33.1mt 418ppm
    Total: 44.5mt 412ppm

    *Cut off 200ppm
 
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