31 December 2021 Half-Year Financial Report
31 December 2021 Half-Year Financial Report

Perth, Mar 15, 2022 AEST (ABN Newswire) - Deep Yellow Limited's (ASX:DYL) (DYLLF:OTCMKTS) Activities for the six-month period to 31 December 2021 involved continuing the advancement of the Tumas Definitive Feasibility Study together with the Company's Namibian exploration projects, and continued M&A efforts.

Key achievements:

- Infill resource upgrade drilling program completed on Tumas 3 and 1 East deposits, with a total of 1,473 holes for 24,942m (refer ASX announcement 19 August 2021).

- Measured and Indicated Mineral Resource increased significantly at Tumas 1, 2, 3 and 1 East, to 98.7Mlb at 266ppm eU3O8 (refer ASX announcement 2 September 2021).

- Tumas Probable Ore Reserves increased by an impressive 121% to 68.4Mlb U3O8 at 345ppm using a 150ppm U3O8 cut-off with three deposits increasing Life of Mine beyond the 20-year target for the Project (refer ASX announcement 5 October 2021).

- Tumas Definitive Feasibility Study progressing well and on schedule for completion in latter half of CY2022.

- Thorough review of the Omahola Basement Project resources completed, resulting in the upgrade of resources to JORC (2012). Upgraded Mineral Resource Estimate (MRE) includes a Measured, Indicated and Inferred Resource base of 125.3Mlb at 190ppm U3O8 using 100ppm cut-off (refer ASX announcement 4 November 2021).

- Omahola basement exploration outlined three highly prospective targets for follow-up (refer ASX announcement 22 December 2021).

- 10 holes for 2,549m completed at Barking Gecko, successfully completing the Phase 1 drilling program of 14 holes for 3,561m (refer ASX announcement 18 January 2022).

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About Deep Yellow Limited

Deep Yellow Limited ASX DYLDeep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a differentiated, advanced uranium exploration company, in predevelopment phase, implementing a contrarian 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 global, geographically diverse asset portfolio. A PFS has recently been completed on its Tumas Project in Namibia and a DFS commenced February 2021. The Company's cornerstone suite of projects in Namibia is situated within a top-ranked African mining destination in a jurisdiction that has a long, well-regarded history of safely and effectively developing and regulating its considerable uranium mining industry.



John Borshoff
Managing Director/CEO
T: +61-8-9286-6999
Email: john.borshoff@deepyellow.com.au

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