Name of the Project
Tumas uranium project.

Location
The Tumas palaeochannel system is located within Deep Yellow’s 100%-owned Reptile project, in Namibia.

Project Owner/s
The deposit is held by Deep Yellow through its wholly owned subsidiary Reptile Uranium Namibia.

Project Description
A scoping study on the Tumas project has delivered encouraging results, which have provided Deep Yellow with the confidence to proceed directly to a prefeasibility study (PFS).

The scoping study envisages a multipit, openpit mining operation using a purpose-built processing facility, based on a high proportion of inferred resources.

The project has an expected mine life of more than 20 years.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project is expected to have a minimal internal rate of return of 20%.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
Deep Yellow has announced an updated mineral resource estimate for the Tumas 1 East deposit, including a conversion of inferred resources to provide a maiden indicated resource estimate of 19.6-million pounds of uranium at a 245 parts per million (ppm) cutoff.

The total of measured and indicated mineral resources at Tumas 1, 1E, 2 and 3 has increased to 98.7-million pounds at 266 ppm. These increases mean the resource is now sufficient to achieve a minimum 20-year life-of-mine, the company has said.

Key Contracts, Suppliers and Consultants
Ausenco Services (engineering and capital cost estimate).

Contact Details for Project Information
Deep Yellow, tel +61 8 9286 6999 or email info@deepyellow.com.au.