Ann: Peninsula Commences Trading on the OTCQB Venture Market, page-26

19 October 2020, announcement.
Regulatory
A license amendment application was prepared and submitted during the quarter for the use of oxidants with the
low pH ISR process. Depending on outcomes of the MU1A low pH field demonstration, a ""second amendment"" may
be sought related to the use of ponds to manage solids produced in the low pH ISR process. Current licences and
permits for Lance allow use of oxidants and the ponds during the limited scale field testing without amendments.

The Company can also commence low-pH operations without these process enhancements, which were not
described in the original low-pH amendment approvals. Starting in previously mined areas where oxidant is not
necessary, would allow time for the completion of the desired licence amendments prior to commencing production
activities in new mining units.

The Company expects completion of these identified licence amendment activities by mid to late CY2021.