DEEP YELLOW LIMITED — Share Issue/Capital Change 2008

Feb 11, 2008

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DEEP YELLOW LIMITED

ABN 97 006 391 948

Level 1 329 Hay Street Subiaco WA 6008 PO Box 1770 Subiaco WA 6904 Tel : 61 8 9286 6999 Fax : 61 8 9286 6969 Email: admin@deepyellow.com.au Website: www.deepyellow.com.au

12 February 2008

RELEASE OF RESTRICTED SECURITIES

Deep Yellow Limited (DYL) advises that the voluntary restriction applicable to 82 million ordinary shares on issue will be lifted with effect from 26 February 2008.

The 82 million ordinary shares are part of the consideration paid in 2006 for the acquisition/merger of Raptor Minerals Limited (“Raptor”). Raptor through wholly owned Namibian subsidiary companies, owned and controlled Namibian Exclusive Prospecting Licences (EPL’s 3496 - Tubas, 3497 – Tumas and 3499 - Ripnes and EPL Application 3498 - Aussinanis). (The EPL 3498 application was subsequently approved and granted by the Namibian Ministry of Mines.)

As previously announced, total consideration paid for Raptor was AUD$2.58 million in cash and 174 million ordinary shares in DYL issued in two tranches. The second tranche of 82 million shares was issued with an attaching restriction on the trading of the securities for two years (13 October 2008). This restriction was put in place at the request of DYL to provide some commercial surety over the land tenure and historical data in relation to the Namibian tenements acquired in the Raptor acquisition.

Following the grant of EPL 3498, the announcement of the first JORC Code standard Inferred Mineral Resource (ASX 21 November 2007) and recent encouraging mineral exploration results, the Board has resolved that the matters to which the restriction related have been satisfied and DYL has agreed to a release of the restriction.

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Dr Leon Pretorius Managing Director

Further Information:

Mr Martin Kavanagh Executive Director (08) 9286 6999

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