When it isn't blocked, activate up to five lands you control by tapping them, adding at least 2.
Activate Peregrine Drake's ninjutsu ability by paying 2 and returning Mistblade Shinobi from the battlefield to your hand, putting Peregrine Drake onto the battlefield from your hand tapped and attacking.
When Peregrine Drake enters the battlefield, it triggers, untapping up to five lands.
Activate Mistblade Shinobi's ninjutsu ability by paying and returning Peregrine Drake from the battlefield to your hand, putting Mistblade Shinobi onto the battlefield from your hand tapped and attacking.
Repeat from step 2.
If you control up to five lands that can tap to produce at least 3, this combo nets infinite mana.
This clever loop relies on Satoru Umezawa to grant every creature card in your hand ninjutsu for {2}{U}{B}, allowing you to seamlessly alternate between bouncing and re-summoning your threats. By using Mistblade Shinobi's cheap {U} ninjutsu cost to sneak back in and bounce Peregrine Drake, you reset the cycle while simultaneously leveraging Peregrine Drake's entry trigger to untap your lands and net a surplus of mana. Satoru Umezawa even helps you dig deeper into your library for more pieces along the way, turning a simple ninja-swapping trick into a self-sustaining engine.