Ann: Lance Rapidly Advancing Towards Mid-Year 2023 Production, page-3

KEY POINTS
 All work streams remain on schedule for a production restart in mid-year 2023
 Key equipment has been delivered to site and is being installed
 Capital expenditure continues to track with August 2022 Definitive Feasibility Study (DFS)
projections
 Wellfield preconditioning operational flows have ramped up
 Once in operation, Lance will be one of the largest uranium in-situ recovery (ISR) operations in
the United States, with exciting exploration and development upside
 Peninsula appoints Vice President of Corporate Development