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DEEP YELLOW LIMITED Capital/Financing Update 2017

May 3, 2017

64808_rns_2017-05-03_4984a95c-c9ce-4771-8413-ce527d3da331.pdf

Capital/Financing Update

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4 May 2017

ASX Market Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam,

Strategic Alliance Deed signed with Sprott

Deep Yellow Limited (DYL) is pleased to announce that it has signed a Strategic Alliance Deed with an affiliate of the Sprott Group (Sprott). Sprott also retains the rights, while it holds a minimum 10% equity in DYL, to bid to place or find subscribers for future financial raisings. This further cements the general character of the strategic alliance which DYL regards as an important relationship moving forward appreciating the capacity the Sprott Group has to support companies working in the resource sector.

Yours faithfully

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JOHN BORSHOFF Managing Director/CEO Deep Yellow Limited

Unit 1, 100-104 Railway Road Subiaco WA 6008 / PO Box 1770 Subiaco WA 6904 Tel : 61 8 9286 6999 / Fax : 61 8 9286 6969 / ABN 97 006 391 948 Email: [email protected] / Website: www.deepyellow.com.au