Peninsula Energy (PEN) Mining Forum Americas 2026 summary

Strategic initiatives, operational updates, and technical progress

• Recently appointed a Chief Technical Officer with 20 years of ISR experience and strengthened technical expertise through new leadership and a technical committee.

• Owner-operator drilling model and deployment of the first drill rig have significantly improved drilling productivity and reduced costs.

• Achieved a jump in drilling rates from 540 ft/day to 1,400 ft/day, enhancing project efficiency.

• Board and technical team bring decades of uranium and mining experience, including multiple central processing plant builds and refreshed executive leadership.

• Wellfield operations have advanced with multiple header houses in various stages, aiming for repeatable wellfield performance.

Resource base, growth pipeline, and exploration

• Holds 66 million lbs of uranium resources, with 59 million lbs at Lance and 7 million lbs at Dagger; all resource estimates are JORC-compliant.

• Exploration target of 104–165 million lbs could push total resources above 100 million lbs, with ongoing exploration and optimization studies.

• Largest known ISR project in Wyoming, with contiguous resource areas and significant exploration upside.

• Regional and satellite growth pipeline includes Kendrick, Barber, and Dagger projects, with Kendrick fully permitted and development underway.

• The Lance Project covers 122.2 sq km, with over 7,500 drillholes informing resource estimates.

Market dynamics and strategic positioning

• U.S. uranium demand far exceeds domestic supply, with only 2 million lbs produced against 56 million lbs consumed annually.

• Exposed to spot market with minimal contracted sales, maximizing leverage as prices rise.

• U.S. government investing downstream in uranium supply chain but not yet upstream with miners.

• The uranium market is entering a structurally undersupplied phase, with global demand forecast to increase materially to 2040.

• Military and defense needs require U.S.-produced and processed uranium, creating unique market opportunities.