will make pen holders very rich

The Sundance district hosts a significant amount of uranium mineralisation over a large
area (35 kilometres by 8 kilometres). The mineralisation, which is related to an extensive
system of roll fronts, is hosted in several discrete uranium deposits, and along the
oxidation-reduction interfaces throughout the area. The uranium mineral deposits in the
area of Oshoto, where the claims are situated, are amenable to in-situ leaching, as
demonstrated by the results of the pilot plant program undertaken in the late 1970’s.
Technical data covering the project including drilling database is owned by PacMag,
which will facilitate conversion of the previous resources and reserve estimates to JORC
compliance.
The technical data purchased by PacMag and to be acquired by Peninsula covers the
full extents of the roll front systems in the Sundance district, whilst the mineral rights
(~1000 acres) cover important parts of two of the Oshoto deposits, and further state
mining leases (1500 acres) cover portions of the projections of the roll fronts south of the
deposits.