options, page-43

1c options? Don't mind if I do. DYOR.

FULLY UNDERWRITTEN NON-RENOUNCEABLE OPTION ENTITLEMENT ISSUE
The Directors of Peninsula Minerals Limited (PEN) (the Company) are pleased to advise the
terms of a pro-rata non-renounceable entitlements issue (Entitlement Issue) on the basis of
one (1) Option for every four (4) Shares held by Shareholders registered at 5.00pm (WST) on
16 September 2010 (Record Date) at an issue price of 1 cent per Option.
The approximate maximum number of Options which will be issued under the Entitlement Issue
is 407,438,755 Options to raise approximately $4,074,388. The Options are to be listed options
(PENOB) exercisable at 3 cents on or before 31 December 2015 (Options). Application is
being made to ASX for the Options to be quoted.
The Entitlement Issue is fully underwritten by Hartleys Limited. In addition all of the Directors
intend to take up their full entitlement under the Entitlement Issue and two of the Directors (or
their nominees) have agreed to sub-underwrite 200,000,000 Options ($2,000,000).
If successful, the Offer will provide the Company with a significant capital injection which will
assist in funding, principally, ongoing exploration of Peninsulas uranium projects including:
h Permitting and Feasibility Studies at the Lance Projects in the United States, with formal
permit submissions expected in December 2010 and completion of the Definitive
Feasibility Study expected early 2011;
h Ongoing drilling at the Lance Projects; and
h Commencement of drilling at the Karoo Projects in South Africa.