Deep Yellow Limited (DYL.AX) Drilling at S-Bend Prospect Confirms Uranium Extensions

Perth, Oct 14, 2025 AEST (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to announce an update on its exploration activities focussed on the S-Bend prospect, located within the Exclusive Prospecting Licence 3497 (EPL3497), adjacent to Company's flagship Tumas Project (Tumas or the Project) on Mining Licence 237 (ML237) in the Erongo Region of Namibia (refer Figure 1*).

HIGHLIGHTS

- Successful Reverse Circulation drilling completed at the S-Bend prospect, with 452 drill holes completed for 3,361 m

- The S-Bend prospect is located within the Exclusive Prospecting Licence 3497 and situated adjacent to the flagship Tumas Project on Mining Licence 237

- Drilling identified mineralisation with thicknesses up to 8 m from surface, with best intersections including:

o SB0247: 8 m at 332 ppm eU3O8 from 1 m
o SB0560: 2 m at 1,217 ppm eU3O8 from surface
o SB0147: 5 m at 407 ppm eU3O8 from 1 m
o SB0156: 5 m at 367 ppm eU3O8 from 1 m
o SB0282: 4 m at 378 ppm eU3O8 from 1 m

- Higher-grade mineralisation identified at the S-Bend prospect is isolated to four main clusters, with further detailed drilling required to delineate a resource base associated with these clusters

- 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

The shallow tributaries found in this area are collectively referred to as the S-Bend prospect. This Prospect has in previous years undergone limited drill testing at several locations which showed presence of shallow, low-grade mineralisation and considered worthy of follow-up drilling to test for continuity of uranium presence.

The Reverse Circulation (RC) follow-up drill program at the S-Bend prospect commenced on 9 July 2025 and was completed on 22 September 2025.

A total of 452 holes were completed for 361 m (refer Figure 2* and Appendix 1, Table 1*).

Approximately one-third of the holes drilled intersected mineralisation grades exceeding 100 ppm eU3O8 over a minimum thickness of one metre (refer Appendix 1, Table 2*).

Drill hole and line spacing varied across the prospect, ranging from 50 m by 50 m in areas with previously identified mineralisation to 500 m by 200 m spacing in the unexplored zones.

Results

The S-Bend prospect consists of a set of shallow tributaries feeding into the main Tumas palaeochannel. The Tertiary valley fill at the S-Bend prospect is relatively thin, typically only a few metres in thickness. Surficial uranium mineralisation was intersected not only within the Tertiary sediments, but also in the underlying fractured and/or foliated Proterozoic bedrock. The bedrock is predominantly composed of schist and gneisses of the Tinkas Formation associated with granodioritic intrusions.

Mineralisation is distributed in near equal proportions between the Tertiary cover sediments and the underlying bedrock. Mineralisation is shallow, in some cases starting from surface, with a maximum thickness up to 8 m. The average mineralised thickness is approximately 2 m, holding an average grade of 196 ppm eU3O8. Best intersections (refer Appendix 1, Table 2*) from the program included:

- SB0247: 8 m at 332 ppm eU3O8 from 1 m
- SB0560: 2 m at 1,217 ppm eU3O8 from surface
- SB0147: 5 m at 407 ppm eU3O8 from 1 m
- SB0156: 5 m at 367 ppm eU3O8 from 1 m
- SB0282: 4 m at 378 ppm eU3O8 from 1 m

The equivalent uranium values (eU3O8) are determined from downhole radiometric gamma logging carried out by trained Deep Yellow personnel using a fully calibrated AusLog gamma logging system.

Conclusions

As outlined in Figure 3* cross-section, approximately 4 km of the prospective tributaries in the SBend prospect area were tested during this drilling campaign with the higher-grade mineralisation isolated to four main clusters as shown in Figure 2*. These areas will require detailed drilling to delineate a resource base associated with these clusters and will help to extend the current ore reserves already identified for the Tumas Project located in the adjacent ML237.

The potential to add to the current resource base at Tumas and extend beyond the presently stated 30-year Life of Mine of this Project is further enhanced with discoveries such as identified at the S-Bend prospect.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/Z9651BJW

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.

   

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