Deep Yellow Limited: June 2024 Quarterly Activities Report

Perth, Australia - Deep Yellow Ltd. (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) is pleased to provide a summary of key activities completed in the June 2024 quarter.

Tumas Project

- Ausenco Services Pty Ltd selected as preferred EPCM contractor for the flagship Tumas Project

o Scope of work to be completed includes finalising detailed engineering with an EPCM contract opportunity for project execution

o Project remains scheduled for commissioning Q3 2026

- Resource upgrade drilling at Tumas 3 completed with data preparation underway for release of updated Mineral Resource Estimate early August

- Post Quarter - Nedbank Limited mandated as lead arranger and bookrunner for project financing

Mulga Rock Project

- Hydrological drilling program commenced to define water management parameters for mining

- Several remaining evaluation programs underway, results to be key inputs for the revised DFS

o Resin pilot program commenced for optimisation of uranium and critical minerals extraction

o Mining study underway to determine optimal method for development of the multi-commodity mining operation and revised Ore Reserve Estimate

Corporate

- Deep Yellow enters the S&P/ASX 200 Index

- Successful A$250M capital raising completed

- Cash position - A$257.5M

*To view the full quarterly report with tables and figures, please visit:
https://abnnewswire.net/lnk/D8BLH388

About Deep Yellow Limited:

Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.

The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.

Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.

Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.

Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.

Source:
Deep Yellow Limited

Contact:

John Borshoff Managing Director/CEO T: +61-8-9286-6999 E: john.borshoff@deepyellow.com.au W: www.deepyellow.com.au Media: Cameron Gilenko T: +61-466-984-953 e: cgilenko@citadelmagnus.com