Deep Yellow Limited announced a significant milestone successfully delivering an impressive 121% increase to the updated Ore Reserve Estimate for the Tumas Project on EPL3496 and 3497. Deep Yellow completed a successful Pre-Feasibility Study on the Tumas Project and commenced the Definitive Feasibility Study as announced to ASX on 10 February 2021. The deposits, held 100% by Deep Yellow through its wholly owned subsidiary Reptile Uranium Namibia (Pty) Ltd), are covered by Mining Lease Application 237. The PFS utilised only part of the known resources at Tumas and defined a Probable Ore Reserve base of 31Mlb U3O8 at 344ppm, using a cut-off grade of 150ppm. The size of the Ore Reserve was sufficient for an 11.8-year Life of Mine (LOM) operation and identified a project with positive viability parameters and clear potential to meet the company's publicly stated investment criteria. A key focus area of the DFS was to increase and upgrade the Tumas Mineral Resources and update the Tumas ORE, upon which the DFS would be based, to ensure a LOM greater than 20 years. Following the successful resource upgrade drilling program as previously announced, this major ORE milestone has been achieved. In August 2021, Deep Yellow successfully completed a five-month, resource-upgrade drilling program, focused on the Tumas 3 and 1 East deposits. This program completed 1,473 holes, for 24,942m and results led to an updated Mineral Resource Estimate (MRE), with Indicated Mineral Resources of 98.7Mlb U3O8 at 266ppm for the combined Tumas 1, 1-East, 2 and 3 deposits, at a 100ppm U3O8 cut off (announced to ASX 29 July and 2 September 2021). In addition, a further 15.3Mlb U3O8 at 215ppm of Inferred Mineral Resources remains within these deposits and may be upgraded at a future date. Overall, at a 100 ppm U3O8 cut off, these deposits now contain total Mineral Resources of 114Mlb U3O8 at 258ppm.