PENINSULA ENERGY LIMITED — Director's Dealing 2012

Jan 2, 2012

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Peninsula Energy Limited
ABN	67 062 409 303

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Alfred Gillman
Date of last notice	4 October 2011

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct & Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Maria Elizabeth GillmanInterest as Spouse
Date of change	21 December 2011
No. of securities held prior to change	Alfred Gillman- 6,000,000 Ordinary Fully Paid Shares- 375,000 Listed options exercisable at 3 cents on orbefore 31 December 2015- 4,000,000 Performance Shares Class C expiring 30June 2014Maria Elizabeth Gillman- 500,000 Listed options exercisable at 3 cents on orbefore 31 December 2015
Class	Ordinary Shares
Number acquired	300,000
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$11,163.80

+ See chapter 19 for defined terms.

No. of securities held after change	Alfred Gillman- 6,300,000 Ordinary Fully Paid Shares- 375,000 Listed options exercisable at 3 cents on orbefore 31 December 2015- 4,000,000 Performance Shares Class C expiring 30June 2014Maria Elizabeth Gillman- 500,000 Listed options exercisable at 3 cents on orbefore 31 December 2015
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	On-Market trade

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

+ See chapter 19 for defined terms.