** Shares of Peregrine Gold PGD.AX rise 10.3% to A$0.16
** Stock hits highest level since January 7
** The gold and lithium explorer executes agreement with prominent prospector and major shareholder Mark Creasy over Peninsula rospect
** Co says the agreement permits the potential extraction of gold material in the Peninsula prospect
** Net proceeds recovered to be split in favour of Peregrine on a 60/40 basis, adds co
** About 264,200 shares change hands by 0202 GMT, 3.7 times the 30-day average volume of shares
** Stock up 3.6% this year as of last close
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com;))
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