2025/10/23 – 09:15:00 – 1086196504382669072
Quarterly Activities Report For The Period Ending 30 September 2025
Deep Yellow Limited
Registration No. ABN 97 006 391 948
Registered as an external company in Namibia
ISIN Code: AU000000DYL4
NSX Share Code: DYL
QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 30 SEPTEMBER 2025
HIGHLIGHTS
Tumas Project
• Detailed engineering on the Tumas Project along with off-site power and water
infrastructure finalisation is continuing to advance
• Focus continues on finalising detailed design for the process plant, completing the
agreements for power and water supply and undertaking bulk earthworks at site
• Subsequent to quarter end, successful completion of a shallow reverse circulation drill
program at the S-Bend prospect, which comprised of 452 holes for 3,361 m
• Drilling identified 4 clusters of higher-grade mineralisation worthy of follow-up drilling to
increase the uranium resource base on the Tumas Project
• Best intersections include:
• SB0247: 8 m at 332 ppm eU3O8 from 1 m
• SB0560: 2 m at 1,217 ppm eU3O8 from surface
• Importantly, potential to add to the Tumas resource and extend beyond the current 30-year
Life of Mine is further enhanced with discoveries being made such as the S-Bend
prospect
Mulga Rock Project
• Mini-pilot resin testwork on samples from the Ambassador and Princess deposits is
successfully demonstrating recovery of uranium, base metals and rare earth elements
• Progress on the revised Definitive Feasibility Study entailing process engineering, capital
and operating cost estimates, mining plan and schedules is being advanced
Alligator River Project
• Field work has been completed with results pending
• Reverse circulation and diamond drill program underway
Corporate
• Group cash balance on 30 September 2025 was A$203.5 million
• The future direction of the uranium market will be heavily influenced by the supply
deficits in the short to long term as is clearly evidenced by the WNA bi-annual market
study released in September 2025
• John Borshoff stepped down from the Managing Director/Chief Executive role on 20
October 2025 and the process for appointing a replacement is well progressed
• Annual General Meeting date 20 November 2025
The Quarterly activities report can be found at the following link:
https://api.investi.com.au/api/announcements/dyl/7291bd85-3ec.pdf
Yours faithfully
JOHN BORSHOFF
Managing Director/CEO
Deep Yellow Limited
23 October 2025
Registered Office
Reptile Uranium Namibia (Pty) Ltd
Registration no. 2004/511
48 Hidipo Hamutenya Street
Swakopmund
Namibia
Sponsor
IJG Securities (Pty) Ltd
Member of the NSX
4th Floor, 1@Steps, c/o Grove and Chasie Street, Kleine Kuppe, Windhoek
P O Box 186, Windhoek, Namibia
Registration No. 95/505
Date: 23-10-2025 09:15:00
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