Peninsula Energy Limited announce the approval of a significant license amendment for its 100% owned Lance Project located in Wyoming, USA. The Company's wholly owned subsidiary Strata Energy Inc. has been granted approval by the Wyoming Department of Environmental Quality Uranium Recovery Program of a requested license amendment. The amendment authorizes the use of several different oxidants in conjunction with low pH lixiviants in the uranium extraction process. Laboratory and field studies have demonstrated that higher uranium recovery rates can be achieved when oxidizing agents are introduced to the lixiviant stream. Importantly, the Company has been granted approval to select from three different commercially available oxidants, gaseous oxygen, hydrogen peroxide, and sodium chlorate. The flexibility in selecting an oxidant would
be useful during periods of supply shortages. The amended license also adds flexibility in the design and location of reagent storage and distribution systems, which may result in additional cost efficiencies.