historical data is the key to moving forward

The info below has previously been discussed but i thought it relevant once again as we are drilling historical data come monday....
seems to be 1 million share buys at 3c today showing confidence...anyway here is some info taken from announcement on 30 April 2009...I like the comment regarding taking Ross/barber to BFS Stage...thats exciting in itself!
cheers MMM

As previously reported Peninsula has identified a combined Exploration Target Size of 39-60m
short tons at 500-700ppm for 50-76m lbs U3O8.
The 2008 drill program results had achieved the dual objectives of confirming the presence of
historic uranium mineralisation at the Lance projects and also significantly enhancing the
understanding of the project¡¦s geology and mineralisation. This new level of details provides
an excellent framework for detailed geological interpretation of the historic drilling results and
correlation of the mineralised sands. Planned testing of the four selectively cored holes drilled
in 2008 has been delayed until later in the year. The core is currently being stored in a freezer
to preserve its integrity and prevent any alteration to the cores physical and chemical
parameters. Based on the extensive data PEN has at its disposal PEN believes that subject to
further resource drilling the two most advanced project areas Ross & Barber can be
advanced to the BFS stage. Most of the work programmes will be aligned to achieving
production status from these two project areas in the shortest time frame possible.
Peninsula is currently the dominant mineral rights holder in the re-discovered
Sundance uranium district and presently holds title over eight of the thirteen historic
mineralised areas at the Lance Projects, located on the North-East side of the
Powder River Basin in Wyoming, USA.

As previously indicated it is Peninsula¡¦s intention to advance the Ross and Barber projects to
the production phase as soon as is practicable. The trigger point for this development is to
expand and delineate 15m lb U3O8 of JORC resource at the Ross & Barber Projects as follows:
„h Ross feasibility decision is 6 - 9 million short tons @ 500 - 700ppm U3O8 for 8 -12m lb
U3O8; and
„h Barber feasibility decision is 3 - 4 million short tons @ 700 - 900ppm U3O8 for 4 - 6m lb
U3O8
It is envisaged that a drill program together with other activities required with achieving this
intention will be initiated at the Ross & Barber project areas. Continued assessment of market
conditions will dictate the timing of the program however the increase in the historical drill
grades detailed above and further review by the new COO of the historic mining data from
Ross have increased Peninsula¡¦s confidence in advancing the Lance Projects to
development.