Johannesburg,South Africa

Deep Yellow Limited,an Australian uranium mining company with business interest in Namibia has announced an appointment of Jim Morgan as Head of Project Delivery.

Deep Yellow has confirmed that Jim Morgan has armed with extensive mining experience which spans more than three decades and in those decades has occupied different crucial roles.

According to Deep Yellow,Mr Morgan is a seasoned mining executive with over 35 years of experience on high-value uranium and resource sector projects.Mr Morgan is well known to the Deep Yellow team,as he was previously Executive General Manager-Project Development for Paladin Energy from 2005-2012,during the period when John Borshoff was Paladin CEO.Mr Morgan played a critical role in Paladin's successful construction of the Langer Heinrich uranium mine in Namibia(Stages 1 & 2) and the Kayelekera uranium mine in Malawi.

The company has highlighted that following his time at Paladin,Mr Morgan was CEO of Carbine Tungsten Limited(ASX:CNQ now ASX:EQR) from 2012-2017 and,more recently,Managing Director of a private mining and infrastructure development consultancy firm.

And Deep Yellow also convinced that the appointment of Mr Morgan further strengthens the Company's sector-leading team at a time when global support for uranium continues to rapidly grow,due to the fundamental role nuclear power will now need to play in providing base load power and meeting clean energy targets.

Mr Morgan is expected to takeover and oversee the development progress of Tumas Project in Namibia and the Mulga Rock Project in Western Australia which are in advance stage.

The company mentioned that in his capacity,Mr Morgan will take on the role of Project Director for Tumas,with a Final Investment Decision expected late Q4 2024 aiming for production startup late 2026.Key development activities continue at Mulga Rock,with commencement of production scheduled for 2028.

The Deep Yellow's CEO is happy with the news of Jim Morgan joining that company and is convinced that he is the person for that position.

"I am very pleased that Jim has accepted this important role,and we look forward to working with him again.The biggest asset of Deep Yellow is our sector-leading team and the qualities and experience each person brings to the table when it comes to developing,building and operating Tier-1 uranium mines.Jim brings a huge range of mine construction expertise to the Company and fully understands what is required to build a successful,long-term and reliable uranium operation.

Jim's first priority will be the delivery of our flagship Tumas Project and ensure this important project is established according to its defined scope,budget and schedule,"said John Borshoff,Managing Director/CEO of Deep Yellow Limited.

Deep Yellow Limited is dual-listed in Australian Stock Exchange and Namibian Stock Exchange,and is owning 100% of Tumas project and its local Namibian partner Oponona has a right to acquire 5% of the project.