Perth, Feb 3, 2017 AEST (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) advises that the Namibian Ministry of Mines and Energy ("MME") have approved the renewal of EPL3669 and EPL3670. Application for renewal was made in August 2015 and a 2 year extension has now been granted to 20 November 2017.

These tenements comprise the Nova Energy (Namibia) Pty Ltd Joint Venture in which Reptile Mineral Resources and Exploration (Pty) Ltd (wholly owned subsidiary of DYL) holds 65% (Manager), Nova Energy Africa (Pty) Ltd (wholly owned subsidiary of Toro Energy Limited) 25% and Sixzone Investments (Pty) Ltd 10%. The ground is regarded as being highly prospective for uranium in both paleo-channel calcrete associated Langer Heinrich type targets and basement alaskite associated Rossing/Husab type targets.

DYL is confident, that, with ongoing expenditure, these EPLs will be favourably considered for a further 2 years when the time comes for an application for an extension to be submitted to the MME.


About Deep Yellow Limited

Deep Yellow Limited ASX DYLDeep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is a specialist uranium company implementing a new strategy to grow shareholder wealth.  This strategy is founded upon growing the existing uranium resources across the Company's uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a geographically diverse asset portfolio.

In parallel to its expansion objectives, the Company has a cornerstone suite of projects in Namibia, a top-ranked African mining destination with a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.

  


Contact

John Borshoff
Managing Director/CEO
Phone: +61-8-9286-6999
Email: admin@deepyellow.com.au
www.deepyellow.com.au



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