Deep Yellow Limited: Appointment of Head of Project Delivery

Perth, Australia - Deep Yellow Ltd. (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) is pleased to announce the appointment of Mr Jim Morgan as Head of Project Delivery. Mr Morgan is a seasoned mining executive with over 35 years of experience on high-value uranium and resource sector projects. Mr Morgan is well known to the Deep Yellow team, as he was previously Executive General Manager - Project Development for Paladin Energy from 2005-2012, during the period when John Borshoff was Paladin CEO. Mr Morgan played a critical role in Paladin's successful construction of the Langer Heinrich uranium mine in Namibia (Stages 1 & 2) and the Kayelekera uranium mine in Malawi.

Following his time at Paladin, Mr Morgan was CEO of Carbine Tungsten Limited (ASX:CNQ) now (ASX:EQR) from 2012-2017 and, more recently, Managing Director of a private mining and infrastructure development consultancy firm.

The appointment of Mr Morgan further strengthens the Company's sector-leading team at a time when global support for uranium continues to rapidly grow, due to the fundamental role nuclear power will now need to play in providing baseload power and meeting clean energy targets.

Deep Yellow continues to methodically progress the development of its two advanced projects: the flagship Tumas Project in Namibia, and the Mulga Rock Project in Western Australia. In his capacity, Mr Morgan will take on the role of Project Director for Tumas, with a Final Investment Decision expected late Q4 2024 aiming for production startup late 2026. Key development activities continue at Mulga Rock, with commencement of production scheduled for 2028.

Deep Yellow Managing Director & CEO, Mr John Borshoff commented: "I am very pleased that Jim has accepted this important role, and we look forward to working with him again. The biggest asset of Deep Yellow is our sector-leading team and the qualities and experience each person brings to the table when it comes to developing, building and operating Tier-1 uranium mines. Jim brings a huge range of mine construction expertise to the Company and fully understands what is required to build a successful, long-term and reliable uranium operation.

"Jim's first priority will be the delivery of our flagship Tumas Project and ensure this important project is established according to its defined scope, budget and schedule."

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