my favourite announcementsfor final quarter 09

Fellas ....there will be some major milestones reached for PEN in 2010 and the market may just move in favour of them with new money coming in at some stage.........funnily enough im not even worried that the shareprice is 4.2c - as much as I would like to see it around 8c which is the target hartleys report stated when it was released on June2009
The recent one done in september was around 15c so considering more results are forthcoming in 2010 we may just see those targets met by the second quarter of the calendar year. ..

ROSS AND BARBER RECAP!!
The 2009/2010 drilling programme re-commenced on 20 July 2009 at Ross with a total of 13,160m (43,180ft) drilled for
the 74 completed holes completed to date. The program is targeting extensions of historic mineralisation at both the
Ross and Barber project areas (Ross and Barber) of the Lance Projects in Wyoming, USA (Lance Projects). The
Ross and Barber project areas are the planned first production centres at the Lance Projects.
The first round of drilling in the current program comprised 11 holes commencing 20 July with high grade uranium
intersections encountered. Best results were from Hole RMR0026 which intersected a high grade interval of 8.5ft @
1,000ppm U3O8 from 354.75 to 363.25 and Hole RMR0024 which intersected an interval of 11ft @ 700ppm U3O8 from
371.25 to 382.25.
During August the Company completed a further 28 holes, predominantly located over the western portion of Ross,
where historic mineralisation has been characterised by broad intervals of mid grade uranium mineralisation. Best
results were from Hole RMR0048 which intersected an interval of 18ft @ 570ppm U3O8 from 522.75 to 540.75 and
Hole RMR0050 which intersected an interval of 36ft @ 470ppm U3O8 from 519.25 to 555.25. These intersections
highlight the broad intervals of vertically stacked uranium mineralisation present in the western parts of Ross.
The Company has previously announced metallurgical tests which demonstrate very high recoveries (87.2%) of
U3O8 in zones of this nature which augers well for the economic potential of Ross.
During September the Company completed a further 36 holes, again located in the western portion of Ross. Best
results were from Hole RMR0095 which intersected an interval of 29.5ft @ 570ppm from 429.75 to 459.25 and Hole
RMR0097 which intersected an interval of 16.5ft @ 550ppm U3O8 from 448.75 to 465.25.


I understand there IS an announcemetn coming out in feburary 2010 (2 months away)relating to the completion of the plant design to produce 3 million l/bs per annum so lots to talk about in 2010


BELOW WAS POSSIBLY MY FAVOURITE ANNOUNCEMENT FOR THE LAST QUARTER OF 2009 AS IT HIGHLIGHTS MAJOR PROGRESS
FEASIBILITY PROCESS UNDERWAY AT LANCE PROJECTS
Highlights
Pre-Feasibility Study Underway
Commencement of Plant Design
Mine Monitor Well drilling commenced
Peninsula on track to meet 2010 JORC Targets
Positive feedback on Mine and Plant permitting
Summary
Peninsula Minerals Limited (Peninsula) is pleased to announce that it has made significant
progress in the mine planning and development process at the Lance Projects in Wyoming,
USA (Lance) and is now at a stage where detailed plant design can commence.
Global mining engineers and uranium specialists Lyntek Inc (Lyntek) have been appointed by
Peninsula to design an In-Situ Recovery (ISR) uranium processing plant that is capable of
processing up to 3 million pounds of U3O8 per annum. It is anticipated that the plant design will
be completed by the end of February 2010.
Petrotek Engineering Corporation (Petrotek), a company specialising in technical evaluation,
permitting and field operations related to injection projects, has been selected by Peninsula to
provide the feasibility study for disposal wells in the Lance Project area. The feasibility study will
evaluate subsurface zones for the disposal of fluids from ISR mining and restoration.
The PFS, when combined with optimization studies, metallurgical studies, hydrological studies
and mine permitting studies, being conducted in parallel, will form the basis for the full
feasibility study which is now scheduled to be completed by early 2011.
In addition, Peninsula is pleased to report that the Monitor Well Installation Program at Lance
has commenced. Well design and positioning for the base line and production monitoring of
the aquifer has been completed and the first monitor well cluster was drilled on 17 November
2009.
Peninsula can also report that the ongoing interpretation of the results from the current drill
program coupled with the inclusion of previously unreported mineralised holes has increased
its confidence in achieving its June 2010 JORC targets.
Cheers MMM