Deep Yellow Uncovers Shallow Uranium Clusters at S-Bend Prospect

• 452 Reverse Circulation drill holes completed for 3,361 meters
• Shallow uranium mineralisation up to 8 meters thick identified
• Grades reaching as high as 1,217 ppm eU3O8 from surface
• Mineralisation distributed between Tertiary sediments and Proterozoic bedrock
• Four main mineralised clusters require further detailed drilling

Exploration Update at S-Bend Prospect

Deep Yellow Limited has announced promising results from its latest Reverse Circulation (RC) drilling program at the S-Bend prospect, located adjacent to its flagship Tumas Project in Namibia’s Erongo Region. The campaign, completed between July and September 2025, involved 452 drill holes totaling 3,361 meters, marking a significant step forward in understanding the uranium potential of this underexplored area.

The S-Bend prospect lies within Exclusive Prospecting Licence 3497 and is characterised by a series of shallow tributaries feeding into the main Tumas palaeochannel. Historically, limited drilling had indicated the presence of low-grade uranium mineralisation, but this recent program has confirmed more substantial extensions, with mineralisation starting from surface and reaching thicknesses up to 8 meters.

Key Findings and Mineralisation Characteristics

The drilling results reveal uranium mineralisation distributed roughly equally between the Tertiary cover sediments and the underlying fractured Proterozoic bedrock, composed mainly of schist and gneisses of the Tinkas Formation. Notably, some of the best intersections include 8 meters at 332 ppm eU3O8 from 1 meter depth, and a standout 2 meters at 1,217 ppm eU3O8 starting from surface.

These grades and thicknesses are encouraging, particularly given the shallow nature of the mineralisation, which could translate into more cost-effective extraction. The mineralisation is concentrated in four main clusters across approximately 4 kilometers of prospective tributaries, highlighting clear targets for follow-up drilling to delineate a resource base.

Implications for the Tumas Project and Future Prospects

The S-Bend discovery enhances the resource potential of the adjacent Tumas Project, which currently has a stated 30-year Life of Mine. The new mineralisation could extend this lifespan and add to the project’s overall uranium inventory. Deep Yellow’s Managing Director, John Borshoff, emphasised that these results support the company’s strategy to build a globally diversified, Tier-1 uranium company capable of producing over 10 million pounds of uranium annually.

While the drilling data is robust, the company notes that further detailed drilling and external assay confirmations are planned to validate and expand upon these initial findings. The exploration team is also reviewing historical data from the 1970s, although much of it remains incomplete and not digitally accessible.

Technical Rigor and Quality Assurance

The drilling program employed calibrated gamma logging and in-house portable XRF assays to estimate equivalent uranium grades (eU3O8), with quality control measures including standards, blanks, and duplicate samples. The data was collected with vertical holes, ensuring that reported intercepts represent true thicknesses of mineralisation. Independent audits have confirmed the reliability and accessibility of the data collected.

Deep Yellow’s approach reflects a methodical and transparent exploration process, which is critical in building investor confidence and advancing the project toward potential development.

Bottom Line?

As Deep Yellow advances detailed drilling at S-Bend, the uranium market will watch closely for resource upgrades that could reshape the Tumas Project’s future.

Questions in the middle?

• How will upcoming external assay results compare with the current gamma and pXRF data?
• What is the timeline and scale for the planned detailed drilling to delineate the resource clusters?
• Could the S-Bend mineralisation materially extend the Tumas Project’s Life of Mine beyond 30 years?