Hole RMR0119 which intersected 8ft at 910ppm U3O8 from 734.25’ to 742.25’; Hole RMR0117 which intersected 11.5ft at 480ppm U3O8 from 741.75’ to 753.25’; Hole RMR0114 which intersected 8ft at 530ppm U3O8 from 742.25’ to 750.25’; Hole RMR0122 which intersected 4ft at 620ppm U3O8 from 382.25’ to 386.25’; Hole RMR0103 which intersected 4.5ft at 540ppm U3O8 from 216.25’ to 220.75’; New mineralized roll front system extending over 800 meters identified at depth.

Drilling commenced at Barber on October 16, 2009 and to date 44 holes have been completed at Barber with 27 holes encountering significant mineralization. Barber is planned to be the second production centre at Peninsula Minerals’ Lance Projects in Wyoming, US (Lance).

Executive Chairman Gus Simpson said “There are numerous other sparsely tested roll fronts in the Barber area and the success experienced in these early stages bodes well for our development efforts”.

Barber Drilling Program

Drilling commenced at Barber on October 16, 2009 and to date 44 holes have been completed at Barber for 28,870 ft (8,799m).

Initially 27 holes were drilled at Barber to test the known mineralized roll fronts at shallow depths ranging from 155 to 494 feet, where the majority of the historical drilling had taken place (historically in excess of 1,000 drill holes have been drilled at the Barber project area with 538 of these being mineralized).

RMR0119 was drilled 65 meters northwest of RMR0114 and RMR 0114 was drilled 350 meters northwest of RMR0112 along the same roll front. These widely spaced drilling results indicate good continuity of mineralization.

While this confirmation drilling was taking place an additional 11 holes were drilled to test a roll front believed to occur at depths ranging from 614 to 760 feet. This roll front is at a depth amenable to ISR extraction but was not pursued in the historic drill programs. The results from this drilling are indicating a more extensive mineralised zone. So far it has encountered a roll front system extending for 800 meters which is open in all directions. Follow up drilling on this system has the potential to significantly expand the uranium mineralization at Barber and is planned for the next round of drilling.