Peel will face St. George's in Sunday's Hospital Cup Final.
The westerners beat St. John's 2-0 in the semi-final at Douglas Road after extra-time.
Island international Lee Gale scored the first before Calum Gallagher netted to seal the Sunset City side's place in the final of a competition they have won 17 times in history.
They are now the last team left who can deny Geordies the Grand Slam of all four major trophies in Manx Football.
Foxdale have clinched the last remaining place in Division Two's Paul Henry Gold Cup semi-finals.
The Billygoat Park men finish the season in fourth place after a 5-2 win at Douglas Royal.
Their scorers were Michael Cawte, Jack Smith, Matty Venables, Willie Woods and Stuart Morrison.
The other teams in the last four are Champions Union Mills, promoted Marown and Onchan - the draw will be made on Manx Radio later today in Mandate at Five.
In JCK Combination Two, Michael won 5-3 at Pulrose.
Fixtures for Wednesday evening:-
Canada Life Premier League
Laxey v St George's
Gymns v Old Boys
Canada Life Combination One
Ramsey v Peel
Ravens run riot against AFC Liverpool
FC Isle of Man and AFC Liverpool to meet in vital hunt for points
Hockey: Cup finals double-header on the cards
Rugby: Douglas to host Sandbach in big top-of-the-table clash
Football: Prem title contenders Corinthians and Peel to meet