Peninsula Mines Limited provided update in relation to the Southern Cross Project in Western Australia for which the Company has signed a binding agreement for the acquisition of a 100% interest in a package of exploration tenements covering approximately 76km announced on December 12, 2019. Since announcing the acquisition of the Southern Cross Project, one for the core tenements to the package, E77/2584 in the Boddarding area has become granted for an initial term of 5 years, meaning the entire Southern Cross Project acquisition is now granted. The portfolio being acquired consists of a total of 20 prospecting licences and 2 exploration licences, each highly prospective for gold in an under-explored area. The licences extend over a 30km contiguous strike, with large sections covering the main gold bearing structure in a proven greenstone gold belt. Peninsula has now established its team to drive the exploration efforts at the Southern Cross Project, and is pleased to advise a strong team is standing by to commence site works as soon as practicable following completion of the acquisition. The company's initial priority is to lodge the POW to facilitate the first drill programme, targeted for commencement this quarter, subject To Approve the POW and drill rig availability. Work is underway to compile a fully integrated relational exploration database to fully utilise the excellent legacy data and assist in rapid targeting of potential drill targets. As previously reported, the Southern Cross project area has been the subject of past exploration programs which have largely been tested through systematic grid-based style programmes, in many cases failing to adequately test the exploration targets largely due to the lack of contiguous tenements. Best results from previous drilling across various prospects include: Glendower Prospect: GDR386: 9m @ 28.41 g/t Au from 33m, including 3m @ 81.15g/t Au. Boodarding Prospect: LKD391: 3m @ 14.8 g/t Au from 94m, including 1m @ 32.83 g/t Au; and LKA247: 3m @ 5.94 g/t Au from 63m. Xantippe Prospect: CRX34: 5m @ 10.58 g/t Au from 19m, including 1m @ 25.18 g/t Au; and XRC01: 12m @ 4.94 g/t Au from 38m, including 1m @ 30.35 g/t Au. Alpine/Roma Prospect: ALP010: 5m @ 3.30 g/t Au from 39m, including 1m @ 12.70 g/t Au; and RDH04: 20m @ 1.59 g/t Au from 58m.