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	5	+= Company Profile =
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7		-=== Deep Yellow Limited Profile ===
8		-
9	9	Deep Yellow Limited is an advanced-stage uranium exploration company with a clear growth strategy to establish a multi-project global uranium development platform. Led by Paladin Energy founder John Borshoff, Deep Yellow Limited has the expertise and capability to achieve its strategy during a countercyclical period for uranium investment.
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11	11	Deep Yellow Limited has a cornerstone suite of projects in Namibia, a top-ranked African mining destination with a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
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13	13	Deep Yellow Limited holds four key contiguous Exclusive Prospecting Licenses (EPLs) covering 1,590km2 within the heart of what is a world-recognized, prospective uranium province of high significance. The tenements are strategically located amongst the major uranium mines of this region ~-~- 20km south of the Husab/Rössing deposits and 40km southwest of the Langer Heinrich deposit.
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15		-=== Corporate Strategy ===
	13	+= Corporate Strategy =
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17	17	Deep Yellow Limited has a two-pronged growth strategy involving the development of its existing uranium resources in Namibia and its newly-discovered Tumas 3 deposit (March 2017). In parallel, Deep Yellow Limited will pursue accretive, counter-cyclical acquisitions to create a multi-project uranium platform. This will be conducted with a proven team led by John Borshoff who was appointed CEO & Managing Director in October 2016. This is an experienced senior management group with a unique historical record of accomplishment.
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19		-=== Key Achievements ===
	17	+= Key Achievements =
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21	21	* Landmark $3.4 million joint venture with Japan Oil, Gas and Metals National Corporation (JOGMEC), the minerals investment arm of the Japanese government, over two tenements in Namibia where JOGMEC can earn 39.5%.
22	22	* A new palaeochannel uranium discovery made on the 100%-owned Reptile Project (Tumas 3) with a further 100km of untested prospective palaeochannel targets delineated.
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23	23	* First 10,000m drill program at Tumas 3 identified extensive uranium mineralization having potential to upgrade the current Mineral Resource base.
24	24	* Completed a successful $11.5 million capital raising, with the support of the Sprott Group, providing the base for future exploration and acquisition growth plans.
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26		-=== Namibian License Status ===
	24	+== Namibian License Status ==
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28	28	* Post reporting period, renewal confirmations were received for Exclusive Prospecting Licenses (EPLs) 3496 and 3497 (Reptile Project) granting tenure for a further two year statutory period until 5 June 2019.
29	29	* Renewal confirmations were received for EPLs 3669 and 3670 (Nova JV project) granting tenure until 19 November 2019.
30	30	* Application has been made for a Mineral Deposit Retention License (Yellow Dune JV project) to secure the Aussinanis uranium resource within EPL 3498.
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32		-=== Mineral Properties ===
	30	+= Mineral Properties =
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34		-==== **Namibian Operations** ====
	32	+== Namibian Operations ==
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36	36	Deep Yellow Limited holds an interest in three key projects in Namibia: Reptile, the Nova Joint Venture (NVJ) and the Yellow Dune Joint Venture (YDJV) project. Reptile and NJV are active exploration projects, YDJV is non-active and these projects are described below. Reptile Mineral Resources and Exploration (Pty) Ltd (RMR – wholly-owned subsidiary of Deep Yellow Limited) is the manager of all projects.
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38		-===== **New Exploration Focus** =====
	36	+=== New Exploration Focus ===
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40	40	With the change in management of the Company in late October 2016 and redirection of exploration effort on its Namibian projects to discover larger uranium deposits, the Marenica test work program (referred to later in this overview) was discontinued and a new approach was initiated. The calcrete-associated uranium mineralization in the Tumas 1 and 2 areas including the Tubas zones was reassessed. This work enabled a better understanding of the stratigraphy of the surficial cover units that can host the calcrete uranium mineralization. Improved geological characterization of the prospective palaeochannels isolated specific uranium target areas to test for increasing the uranium resource base of the project. Reinterpretation of the historic geological and drill-hole data and previous geophysical survey work identified several new prospective areas in the eastern and central parts of the palaeodrainage system in the Tumas 3, S Bend and S Bend East areas.
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42	42	Importantly, the reinterpretation of existing regional data delineated 120km of palaeochannel considered prospective for this Langer Heinrich-type mineralization across the Reptile project area. The Tumas 1 & 2 deposit, and the Tubas Red Sands/calcrete deposits, contain substantial resources in the Measured, Indicated and Inferred JORC resource categories previously reported and all occur within this extensive palaeodrainage system. The newly defined 120km palaeochannel system has identified an extensive exploration target of which only 25km has been adequately tested.
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44		-===== **Tumas 3 Uranium Discovery** =====
	42	+=== Tumas 3 Uranium Discovery ===
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46	46	In July 2017, a 10,000m drilling program was completed at the newly discovered Tumas 3 prospect on EPL 3496. The RC drilling commenced in March and was completed in early July. A total of 400 holes for 10,545m was drilled. All holes were down-hole gamma logged by a fully calibrated AUSLogger and all down-hole gamma data were converted to equivalent uranium values in ppm (eU3O8ppm).
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52	52	A zone of continuous uranium mineralization has been delineated with equivalent uranium grades eU3O8 ranging from 101ppm to 0.71% (7100ppm) eU3O8 over 1m occurring within the 4.4km section tested to date. The mineralization remains open to the west and east and is defined as anything having a grade thickness (GT) of greater than 100ppm eU3O8 over a 1m interval. These GT values (eU3O8ppm x thickness in meters) are shown in contoured form in Figure 1 and highlight the robust, open nature of the uranium mineralization. Also shown in Figure 2 is a SW-NE drill hole cross section indicating mineralization in relationship to palaeochannels.
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54		-==== **Figure 1** ====
	52	+**Figure 1**
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56	56	[[[[image:https://www.fahy.co/wp-content/uploads/2017/10/Capture-1.png||alt="Figure 1."]]>>url:https://www.fahy.co/wp-content/uploads/2017/10/Capture-1.png]]
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58		-==== **Figure 2** ====
	56	+**Figure 2**
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60	60	[[[[image:https://www.fahy.co/wp-content/uploads/2017/10/dCapture.png||alt="Figure 2."]]>>url:https://www.fahy.co/wp-content/uploads/2017/10/dCapture.png]]
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