Deep Yellow Limited: Renewal of Exploration Prospecting Licences

Perth, Australia - Deep Yellow Ltd. (ASX:DYL) (OTCMKTS:DYLLF) (Deep Yellow or Company) is pleased to advise the Namibian Ministry of Mines and Energy have notified the Company of their preparedness to grant the renewal of Exploration Prospecting Licences (EPLs) 3496 and 3497 for a further two years, until 4 August 2021. The location of EPLs 3496 and 3497 is shown in Figure 1 in link below.

These EPLs comprise the 100% owned Reptile Project tenements that contain the bulk of the surficial calcrete resources of the Company located within the highly prospective Tumas palaeochannel (86Mlb U3O8 grading 306ppm) and the basement alaskite resources of 45.1Mlb grading 420ppm U3O8.

As indicated in previous announcements the Reptile Project is the Company's priority focus in Namibia where continued exploration and resource upgrade drilling work is being carried out successfully working toward achieving between 100 to 150Mlb U308 on the Deep Yellow tenements in the grade range 300 to 500ppm uranium.

To view tables and figures, please visit:
https://abnnewswire.net/lnk/K10BK7G3

About Deep Yellow Limited:

Deep Yellow Ltd. (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a specialist differentiated uranium company implementing a new 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. 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.

Source:

Deep Yellow Ltd.

Contact:

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