Peanut Nuggets

1/3 cup peanut butter
1/4 cup butter or margarine
3 cups miniature marshmallows
4 cups Life cereal
3/4 cup dry roasted peanuts

In a large saucepan over low heat, melt peanut butter and butter. Add marshmallows; cook and stir until melted.

Remove from the heat. Stir in the cereal and peanuts; mix well. Spread onto a greased baking sheet. Cool. Break into bite-size pieces. Chill for at least 1 hour. Store in the refrigerator.

Yields 8 cups.