DEEP YELLOW LIMITED — AGM Information 2016

Nov 30, 2016

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Deep Yellow Limited

Corporate Update 2016 Annual General Meeting

30 November 2016

John Borshoff – Managing Director/CEO

ASX: DYL www.deepyellow.com.au

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This document has been prepared by Deep Yellow Limited (Deep Yellow, DYL or the Company) in connection with providing an overview to interested analysts and investors.

This presentation is being provided for the sole purpose of providing information to enable recipients to review the business activities of Deep Yellow. This presentation is thus by its nature limited in scope and is not intended to provide all available information regarding Deep Yellow. This presentation is not intended as an offer, invitation, solicitation, or recommendation with respect to the purchase or sale of any securities. This presentation should not be relied upon as a representation of any matter that a potential investor should consider in evaluating Deep Yellow.

Deep Yellow and its affiliates, subsidiaries, directors, agents, officers, advisers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability or responsibility for any statement made in, or omitted from, this presentation. Deep Yellow accepts no obligation to correct or update anything in this presentation.

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Any statements, estimates, forecasts or projections with respect to the future performance of Deep Yellow and/or its subsidiaries contained in this presentation are based on subjective assumptions made by Deep Yellow’s management and about circumstances and events that have not yet taken place. Such statements, estimates, forecasts and projections involve significant elements of subjective judgement and analysis which, whilst reasonably formulated, cannot be guaranteed to occur. Accordingly, no representations are made by Deep Yellow or its affiliates, subsidiaries, directors, officers, agents, advisers or employees as to the accuracy of such information; such statements, estimates, forecasts and projections should not be relied upon as indicative of future value or as a guaranteed of value or future results; and there can be no assurance that the projected results will be achieved.

Prospective investors should make their own independent evaluation of an investment in Deep Yellow.

Nothing in this presentation should be construed as financial product advice, whether personal or general, for the purposes of section 766B of the Corporations Act 2001 (Cth). This presentation consists purely of factual information and does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product. This presentation does not take into account the objectives, financial situation or needs of any person, and independent personal advice should be obtained.

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The Board

Rudolf Brunovs	Interim Chairman
John Borshoff	ManagingDirector/CEO
Gillian Swaby	Director
Christophe Urtel	Director
Mervyn Greene	Director
Justin Reid	Director
Mark Pitts	Company Secretary

Executives & Management

	John Borshoff	MD/CEO
	Ursula Pretorius	Financial Controller
	Ed Becker	Head of Exploration/
		Resources Development

Capital Structure – as at 28/11/2016

Shares on Issue	2,476M
Performance Rights	14M
Market Cap (@ 1.1c/share)	~ AUD 27M
Net Cash	~AUD 2.8M
Major shareholders:
Sprott Group	13%
Paladin Energy Limited	10.65%
HSBC*	17.16%

*** Including Raptor Partners Limited and Laurium L.P. Fund**

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Notes:

Exploration in Namibia is conducted by DYL’s whollyowned subsidiary Reptile Uranium Namibia (RUN)

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Note: EPLs 3669 & 3670 are under renewal

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The highest grade undeveloped calcrete resource in Namibia.

An extensive mineralised channel system in excess of 100km.

Contains a number of defined deposits - Tumas 1, 2 & 3; Tubas and Tubas Sand.

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EPL3669
EPL3496
EPL3497
EPL3670
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JORC 2012 Palaeochannel Resource: 16.6 Mt at 366 ppm for 13.4 Mlbs U3O8[*]

* Excluding Tubas Sand Deposit

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Tubas Sand Project: Summary New Geophysical Interpretation offers glimpse of significant upside potential

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Map showing interpretation of depth to basement of the palaeochannel system across EPL 3496

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Objectives (EPLs 3496/97 and EPLs 3669/70)

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Re-interpret paleo-channel data to optimise drill targeting. Increase resource base for Tumas 1 and 2.

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• Define a first resource for Tumas 3.

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Confirm potential of deeper paleo-channels (Tumas West). Initiate work on EPLs 3669/70.

Program - Nov 2016 to June 2017

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• Nov Dec 2016:

Initial data evaluation and identify possibility for resource increase by data reinterpretation and mapping.

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- Jan Mar 2017:

• start grade confirmation drilling (2000m).

• carry out seismic surveys for paleo-channel delineation.

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• April June 2017:

• commence main drilling program (8000m).

• new resource estimates for Tumas 1, 2 and 3.

John Borshoff Managing Director/CEO

Deep Yellow Limited Unit 1, Spectrum Building, 100 Railway Rd Subiaco, Western Australia 6008 T +61 8 9286 6999 M +61 419 912 571 F +61 8 9286 6969 Email: john.borshoff@deepyellow.com.au Email: info@deepyellow.com.au Website: www.deepyellow.com.au

Appendices

Cut-off Tonnes eU3O8 U3O8 U3O8 (ppm U3O8) (M) (ppm) (t) (Mlb) Category	Cut-off Tonnes eU3O8 U3O8 U3O8 (ppm U3O8) (M) (ppm) (t) (Mlb) Category	Cut-off Tonnes eU3O8 U3O8 U3O8 (ppm U3O8) (M) (ppm) (t) (Mlb) Category	Cut-off Tonnes eU3O8 U3O8 U3O8 (ppm U3O8) (M) (ppm) (t) (Mlb) Category	Cut-off Tonnes eU3O8 U3O8 U3O8 (ppm U3O8) (M) (ppm) (t) (Mlb) Category	Cut-off Tonnes eU3O8 U3O8 U3O8 (ppm U3O8) (M) (ppm) (t) (Mlb) Category
Measured	200	9.7	386	3,700	8.2
Indicated	200	6.5	336	2,200	4.8
Inferred	200	0.4	351	150	0.3
Total 200 16.6 366 6,050 13.4
Measured	150	16	302	4,800	10.7
Indicated	150	10.8	272	2,900	6.5
Inferred	150	0.6	280	200	0.4
Total 150 27.4 289 7,900 17.5
Measured	100	29.7	219	6,500	14.3
Indicated	100	18	212	3,800	8.4
Inferred	100	1.1	208	250	0.5
Total 100 48.9 216 10,550 23.3

Notes: Figures have been rounded and totals may reflect small rounding errors.eU3O8 - equivalent uranium grade as determined by downhole gamma logging. Gamma probes were calibrated at Pelindaba, South Africa in 2007 and sensitivity checks were conducted by periodic re-logging of a test hole to confirm operation between 2008 and 2013. During drilling, probes were checked daily against a standard source. Auslog probes were re-calibrated at the calibration pit located at Langer Heinrich Minesite in 2014 and 2015.

Tumas Project – JORC 2012

Exploration Results and Mineral Resource Estimate:

The information in this report that relates to Exploration Results for the Tumas Deposit Resource Estimate, Resource Database and Bulk Densities are based on information compiled by Mr. Martin Hirsch, M.Sc .Geology, who is a member of the Institute of Materials, Minerals and Mining (UK) and the South African Council for Natural Science Professionals. Mr. Hirsch is the Exploration Manager for Reptile Uranium Namibia (Pty) Ltd, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person in terms of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code 2012 Edition). Mr. Hirsch consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Tumas Mineral Resource Estimate is based on work completed by Mr. Martin Hirsch, M.Sc .Geology, who is a member of the Institute of Materials, Minerals and Mining (UK) and the South African Council for Natural Science Professionals. Mr. Hirsch is the Exploration Manager for Reptile Uranium Namibia (Pty) Ltd, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person in terms of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code 2012 Edition). Mr. Hirsch consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Geophysical Results:

Where the Company refers to the geophysical results for the Tumas Project in this report (referencing the release made to the ASX dated 16 July 2015 titled “Enhanced PalaeochannelProspectivity”), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning those results continue to apply and have not materially changed.