DYLLF - Deep Yellow Limited (DYLLF) Tumas Mining License Application Lodged with Ministry of Mines

Perth, Australia (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) is pleased to announce that the Tumas Project Mining Licence Application (MLA) was officially lodged with the Namibian Ministry of Mines and Energy (MME) on 21 July 2021, registered as MLA 237 on behalf of Reptile Uranium Namibia (Pty) Ltd (RUN), a wholly owned subsidiary of Deep Yellow.

This application is shown on the department's cadastral system as below (see Figure 1*).

Deep Yellow is currently progressing a Definitive Feasibility Study (DFS) at the Tumas Project, focused on evaluating a uranium operation with a minimum 20-year Life of Mine at a production rate of circa 3Mlb per annum.

Completion of the DFS is expected in the latter part of 2022.

The MME will now commence the engagement process with Deep Yellow for the grant of MLA 237, which is expected to be within 18 months. This will require submission of follow up documentation including the completed Tumas DFS and associated Environmental Impact Assessment (EIA) and Environmental Management Plan (EMP) for the grant of the Environmental Clearance Certificate (ECC) by the Ministry of Environment, Forestry and Tourism, after which final consideration for the grant of the ML is expected to be given by the MME.

To view tables and figures, please visit:
https://abnnewswire.net/lnk/7IID181V

About Deep Yellow Limited:

Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a differentiated, advanced uranium exploration company, in predevelopment phase, implementing a 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. A PFS has recently been completed on its Tumas Project in Namibia and a DFS commenced February 2021. 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 Limited

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