18 Se p te m b e r 2008 C o m p a nie s Anno unc e m e nt O ffic e - PDF document

18 Se p te m b e r 2008 C o m p a nie s Anno unc e m e nt O ffic e Via Ele c tro nic Lo d g e me nt PENINSUL A MINERAL S L IMIT ED PRESENT AT IO N Ple a se find a tta c he d a n up d a te d ve rsio n o f the Pe ninsula Mine ra ls Limite d p re se nta tio n o n the La nc e Pro je c ts in Wyo ming , U.S.A a nd the Ka ro o Pro je c ts in So uth Afric a . T he p re se nta tio n c a n a lso b e fo und o n the C o mp a ny’ s we b site : www.p e ninsula mine ra ls.c o m.a u Yo urs Sinc e re ly Jo na tha n Whyte C o m p a ny Se c re ta ry F o r furthe r info rmatio n, ple ase c o ntac t o ur o ffic e o n (08)9420 9333 during no rmal busine ss ho urs. 31 Ord Street, West Perth WA 6005, GPO Box 2809, West Perth WA 6872 Phone: +61 (0) 8 9420 9333 Fax: +61 (0) 8 9321 2477 Peninsula Minerals Limited - ABN: 67 062 409 303

Peninsula Minerals Developing Uranium Projects on Three Continents Three Continents Wyoming Lance Project – Wyoming USA j y g U U Western Australia U U South Africa South Australia U/Mo U

Disclaimer This presentation is provided on the basis that the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Presentation and nothing contained in the Presentation is, or may be relied upon as, a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The Presentation contains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties, and may differ materially from results ultimately achieved. The Presentation contains “forward ‐ looking statements”. All statements other than those of historical facts included in the Presentation are forward ‐ looking statements including estimates of resources. However, forward ‐ looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward ‐ looking statements. Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations increased production costs and variances in ore grade or recovery rates from those assumed in mining plans currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward ‐ looking statement” to reflect events or circumstances after the date of the Presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the Presentation and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision espect to t e Co pa y a d e a uat g t e bus ess, a c a pe o a ce a d ope at o s o t e Co pa y. e t e t e p o s o of the Presentation nor any information contained in the Presentation or subsequently communicated to any person in connection with the Presentation is, or should be taken as, constituting the giving of investment advice to any person. The information in this presentation that relates to Exploration Results and Exploration Potential is based on information compiled by Mr Jim Guilinger. Mr Guilinger is President of consultancy World Industrial Minerals and is a Competent Person under the definition of the 2004 JORC Code. The Exploration Potential described above is conceptual in nature, and there is insufficient information to establish whether further exploration will result in the determination of a Mineral Resource. Mr Guilinger consents to the publication of this information in the form and context in which it appears. The Presentation does not relate to any securities which will be registered under the United States Securities Act of 1933 nor any securities which may be offered or sold in the United States or to a U.S. person unless registered under the United States Securities Act of 1933 or in a transaction exempt from registration.

C Capital Structure it l St t ASX Code PEN � Existing shares 961 million � Options 218 million � Market Cap A$25 million � Cash C h A$4 6 A$4.6 million illi � Daily turnover � Daily turnover 3 14 million 3 ‐ 14 million

Management Management Characterised by Leadership and Uranium Expertise y p p Directors and Management � Executive Chairman Gus Simpson Strong leadership, corporate and project management skills � T Technical Director Dr. Alan Marlow h i l Di t D Al M l PhD in economic geology and uranium specialist (ex Gencor) � Chief Operating Officer Andrew Ford Highly experienced exploration geologist and project manager (ex Barrick Gold) � Non Executive Director Malcolm James Strong corporate and project financing experience (ex Anaconda) � Non Executive Director Warwick Grigor Experienced Mining Analyst and corporate director (ex County Nat West) � Company Secretary Jonathan Whyte Chartered Accountant and experienced company secretary (ex Barclays Capital plc) � Project Manager Wyoming Jim Guilinger Highly experienced Uranium geologist (ex Texaco) � Engineering Professional Doug Christopherson Experienced Mining engineer with expertise in mine feasibility studies and mine design � Chief Geologist Wyoming Bob Guilinger Highly experienced Uranium geologist (ex Union Carbide) � Mine Permitting Professional Lee Patrick Gochnour Very experienced at permitting new operations and environmental management � Project Manager Karoo Peter Danchin Experienced uranium explorer and project manager (ex Union Carbide) p p p j g ( ) � Operations Manager South Africa Douglas Goodall Highly experienced African Explorer

Comparative Valuation Comparative Valuation Research Research � Research report 1 rated Peninsula as having high quality projects high quality projects and as being under valued At US$50/lb At US $90/lb � Reasons: � USA mining � USA mining environment misunderstood � Need for land acquisition secrecy resulted in a lack of project information 1 Source: Far East Capital Uranium Sector Analysis 21 April 2008.

Global Energy Requirements Global Energy Requirements The world is well on the way to consuming as much energy in the next 25 years as it has consumed throughout modern history � Current reliance on coal to provide majority of base load power generation to continue � Increasing pressure to reduce greenhouse gas emissions whilst reducing reliance on imported energy sources sources � US President recently referred to nuclear power as " . . . the best solution to make sure we have economic growth and at sure we have economic growth and at the same time make sure we are being good stewards of the environment."

World Uranium Demand to Grow Rapidly World Uranium Demand to Grow Rapidly � Nuclear Power is the N l P i th complimentary base load power source to coal � Uranium demand will increase from 170 million lb per annum to between 536 b and 661 million lb per annum by 2050 (equivalent to 15 Olympic Dam sized mines)* mines) � Current reactor status 439 operational 33 under construction 94 planned 222 proposed d * Source: International Energy Agency “Desired energy Mix Scenarios for 2050” June 6 2008

Projects Summary j y Project Area Historic Exploration 12,905 acres (52 km 2 ) Lance projects ‐ Data from 5,036 rotary and percussion holes for 912,000m. 912,000m. Wyoming USA Wyoming USA 13 historic resources over 23 miles (37km) of strike consisting of vertically stacked roll front uranium mineralisation; PEN controls title over 7 of these. i li ti PEN t l titl 7 f th 40,000 lb U 3 O 8 per year Pilot Plant built in 1978 and ran for 10 months. Decision to proceed with full scale production plant abandoned due to Three Mile Island Incident. Tenure covers 1,980km 2 Karoo Projects: j Over 1,300 rotary and percussion holes drilled historically (764 sq miles) from 6 at four of the Sites. Eastern, Western and Projects known as Sites 5, New high level radiometric anomalies identified at all six Northern Cape 22, 29,37,45,49 sites. Province, South Africa Follow up on ‐ ground work confirms Uranium presence. Historic resources identified at 3 Sites. U and Mo mineralisation identified at all Sites. South Australian and 12 Projects covering Early exploration in quality uranium provinces. 864km 2 (334 sq miles) Western Australian Projects

Lance Project Description Lance Project Description � The Lance projects are The Lance projects are situated in NE Wyoming, 31 miles (50 km) NE of Gillette in the Powder Ri River Basin B i � The PRB has 2 operating ISR mines � The PRB has 5 ISR � Th PRB h 5 ISR projects in restoration or permitting � Wyoming has another � Wyoming has another 10 Uranium projects in various stages of development � Wyoming has numerous active exploration projects