Peninsula Energy Limited announced that it has appointed Mr. Richard Lockwood to the Board as Non-Executive Chairman, effective 1 July 2015. Mr. Lockwood has over 50 years' experience in the funds management and mining investment sectors across the United Kingdom, Australia, and South Africa. Mr. Lockwood has extensive involvement with the uranium sector via institutional investment markets including being the founder of specialist uranium investment fund Geiger Counter Ltd. Mr. Lockwood also played a pivotal role at Board level and was a director of Kalahari Minerals, which held a 42.74% interest in Extract Resources.

Extract Resources was the owner of the Husab uranium project in Namibia. Mr. Lockwood was previously a non-executive director at A-Cap Resources Limited. With Mr. Lockwood's appointment as Non-Executive Chairman, Mr. John (Gus) Simpson moves to an expanded role which includes Executive Chairman of Peninsula Uranium Limited and Managing Director and Chief Executive Officer of Peninsula Energy Limited.

As part of the process in setting the revised remuneration package for Mr. Simpson, the Company engaged an independent remuneration consultant (BDO) to benchmark all key management personnel remuneration within the Group against industry peers. As part of the Board restructuring, Mr. Alfred Gillman retires as a Non-Executive Director, effective 1 July 2015.