DEEP YELLOW LIMITED — Investor Presentation 2007

Sep 6, 2007

DEEP YELLOW LIMITED

A NAMIBIAN AND DOWNUNDER URANIUM COMPANY

DISCLAIMER

While technical information contained in this presentation is based upon an independent technical review, no representation or warranty is made as to the accuracy, completeness, or reliability of the information in this presentation. Any forward looking information in this presentation has been prepared by Deep Yellow Ltd on the basis of a number of assumptions that may prove to be incorrect. This presentation contains a number of summaries of complex agreements and contractual arrangements which do not reflect the agreements in their entirety. This presentation should not be relied upon as a recommendation or forecast by Deep Yellow Ltd.

BACKGROUND

• October 2005 - Directors that included 1970’s uranium people took Board control of ASX listed Deep Yellow Limited

• Market cap was then around $10 M and Company had $1 M cash

• Commenced an aggressive M & A programme in Australia

• Late 2006 expanded into Namibia through a merger

• Have attracted 12 geoscientists (6 uranium experienced) to join

• Present market cap ~$500 M and ~$70 M cash & receivables

• Substantial non-JORC Code historic U3O8 resources

• Paladin Resources biggest shareholder at ~15%

WHAT MAKES DEEP YELLOW DIFFERENT?

• Purpose built exclusively uranium focused exploration company

• Alternative to single uranium project or “bandwagon” companies

• Company managed by geoscientists with extensive historic and modern uranium experience (+ 60 years collectively)

• $10 to $15 million annual exploration spend with enough cash for at least five years

• Australian Tenements in diverse regions cover ~65,000 km[2]

• near

• Namibian Tenements cover contiguous area of ~3,000 km[2] Langer Heinrich

• 100% of large historic non-JORC Code U3O8 resource base to prove up in Namibia and Australia (Toro JV) with excellent upside and exceptional greenfield potential

BOARD

• Mervyn Greene . Non-Executive Chairman. An investment banker with senior and management level international experience

• Leon Pretorius . Managing Director. A geochemist with wide ranging international uranium exploration experience. MSc and PhD on uranium

• Martin Kavanagh . Executive Director. A geologist with extensive international and Australian exploration and mining experience

• Gillian Swaby . Non-Executive Director. Considerable corporate resource experience. Present Company Secretary of Paladin Resources

• Tony Mc Donald . Non-Executive Director. A Queensland based natural resources industry lawyer both in Corporate and Private practices

• Rudolf Brunovs . Non-Executive Director. A former audit partner of the Chartered Accounting firm Ernst & Young in Australia and overseas

• Mark Pitts . Company Secretary

CORPORATE

• 1,108,726,958 Shares and 43,500,000 Options (8.1 c to 74.6 c)

• Market Cap ~$500 million

• Current cash and liquid assets ~$70 million

• Estimated 5 year exploration budget ~$60 million

• Top 20 shareholders hold ~61%

• Top 10 shareholders hold ~51%

• ASX Top 300 Company

AUSTRALIAN PROJECTS

QUEENSLAND

• Permanently staffed operational base in Mt Isa

• Consolidating land position in this uranium province

• Direct ownership or access to 100% of uranium rights to over 6,000 km² around Mt Isa and Cloncurry

• Multiple uranium anomalies and 1970/80s drill intercepts

• Results from Queens Gift in Quartz-Hematite breccia received to date include a wide intersection of 50 m at 400 ppm U3O8

• Two RC holes completed on Miranda prospect in December 2006, XRF assays included 12 m at 960 ppm U3O8 and 3 m at 730 ppm U3O8 within wide anomalous zones

• Airborne radiometrics and magnetics recently completed

• Presently drilling on 3 projects and probably 5 more in 2007

QUEENSLAND and NW QUEENSLAND

QUEENS GIFT DETAIL

Significant historical intercepts included: QML 2 – 4.6 m at 5,840 ppm (0.584%) U3O8 from 71.63 m QML 3 – 6.1 m at 830 ppm (0.083%) U3O 8 from 32.31 m Agip 1 – 21.0 m at 470 ppm (0.047%) U3O8 from 41.0 m Agip 2 – 4.0 m at 1,020 ppm (0.102%) U3O8 from 72.25 m Agip 3 – 3.0 m at 900 ppm (0.090%) U3O8 from 61.80 m

QUEENS GIFT PROSPECT

Mineralised Quartz – Hematite Breccia System

Metatorbernite (Cu(UO2)2(PO4)2.8H2O) Composite sample returned 2.86% U O 3 8

QUEENS GIFT PROSPECT

QUEENS GIFT RESULTS - SOME EXCITEMENT

WIDEST DYL INTERSECTION TO DATE

Hole No.	Depth	Interval(m)	U3O8 (ppm)
DQRC 0032	1 - 51	50	400

OTHER SIGNIFICANT INTERSECTIONS INCLUDE

Hole No.	Depth	Interval (m)	U3O8 (ppm)
DQRC 0006	12 - 14	2	1,056
	34 - 44	10	760
	Inc 38 - 44	6	1,121
DQRC 0013	19 - 25	6	1,528
	Inc 19 - 23	4	2,227
DQRC 0014	41 - 44	3	1,418
	69 - 73	4	608

MIRANDA PROSPECT AN IRON-OXIDE SYSTEM? 9 m at 960 ppm U3O8; 3 m at 730 ppm U3O8

U[2] / Th RATIO IMAGE

AIRBORNE TOTAL MAGNETICS

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X
Scale
1,000 m
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TANAMI – ARUNTA

• Operational base in Alice Springs

• Defined projects cover 13,000 km²

• Acquired 100% rights to uranium within Tanami Gold’s tenements covering 43,000 km²

• Ongoing studies of available data to define substantial new targets within this ground

• Napperby Farm-Out / Sale to Toro Energy Ltd

• Ongoing CLC and Landowner negotiations for access to prospective areas

• Recent access approved for 7 tenements – 1,740 km²

• Nonouba EL 24547 – 606 km² granted, was drilled by Uranerz in 1970’s

• Rum Jungle JV over 6 tenements - 590 km² commence drilling RAB/Aircore September

TANAMI – ARUNTA PROVINCE

NAPPERBY FARM-OUT

SOUTH AUSTRALIA - WESTERN GAWLER

• Acquired the uranium rights to 3,295 km² from Dominion Gold Operations Ltd – Negotiating to include a further 2,000 km²

• 2,800 line km Airborne EM survey completed

• Palaeodrainages in district returned anomalous uranium values and host the Warrior uranium deposit

• Recently completed 9,886 m reconnaissance drilling in 145 holes

• Redox zones and thick lignite intersected

SOUTH AUSTRALIA - WESTERN GAWLER

AEM INTERPRETED CHANNELS + RECENT DRILL TRAVERSES

WESTERN GAWLER – LIGNITE ZONE

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URANIO IPO - JOINT VENTURE
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QUEENSLAND DISINVESTMENT / NCA

REPTILE URANIUM NAMIBIA (PTY) LTD

• Four contiguous Exclusive Prospecting Licences covering ~3,000 km[2] that contains historical discoveries of recent gypcrete and sand hosted secondary uranium mineralisation

• Prospected by major companies such as Anglo American, Falconbridge, Elf-Aquitaine and General Mining in 1970/80s

• Extensive shallow recent uranium mineralisation delineated and three feasibility studies completed including bulk sampling and metallurgical testwork

• Systematic JORC orientated RC drilling has commenced on Anglo’s Tubas project

• Area also highly prospective for palaeochannel calcrete hosted uranium mineralisation similar to Langer Heinrich and also Rossingstyle hardrock mineralisation

• Airborne Magnetic and Radiometric survey completed

• Airborne EM planned

LOCATION OF PROJECT AREA

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KNOWN MINERALISATION AND PROSPECTIVITY
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RC DRILLING ON TUBAS CHANNEL

TUBAS - CARNOTITE OUTCROPS

TUBAS ASSAY RESULTS - MUCH EXCITEMENT

HISTORICALLY 1 TO 4 m THICK MINERALISATION. RARELY AVERAGING MORE THAN 300 ppm U3O8

AS AT 1 SEPTEMBER 2007, RUN HAD COMPLETED 424 HOLES FOR A TOTAL OF 10,785 m WITH REGULAR THICKER INTERSECTIONS AND ZONES AT BETTER GRADES

NOTABLY: -

Hole No.	Depth (m)	Interval (m)	Lithology	U3O8 (ppm)
A2.80/7.5	0 to 10	10	Red sand	1,638
A4.80/5.5	3 to 15	12	Brown sand	1,036
A6.50/0.5	7 to 20	13	Brown sand	1,050

TUBAS (RUN) DRILLHOLE LOCATIONS

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TUBAS MINERALISATION AND DRILLHOLE LOCATIONS
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PRELIMINARY AIRBORNE MAGNETICS
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PRELIMINARY AIRBORNE RADIOMETRICS

SWAKOPMUND OFFICE AND OPERATIONAL BASE

THE FUTURE

• Concerted exploration and evaluation effort in Namibia - JORC Code and ongoing exploration drilling - Airborne geophysical surveys

• Concerted exploration and evaluation effort in Mt Isa area - Ongoing exploration drilling - Mapping - Airborne geophysical surveys

• Maximise shareholder return on non-core assets

• Napperby - Divest to Toro

• Rum Jungle JV

• Uranio IPO

• Queensland NCA - negotiations pending

• Further drill evaluation of South Australian Airborne EM targets

• Further growth via pro-active in-house project generation and mergers and acquisitions

THANK YOU

DEEP YELLOW AN EXCITING

AND

GROWING URANIUM COMPANY

Dr Leon Pretorius Managing Director