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Omahola Project (100% DYL)

Omahola is located within the highly prospective “Alaskite Alley” corridor, within which major uranium deposits including Rössing, Husab, Etango and Valencia are located. These deposits contain in excess of 800 Mlb U₃0₈, with the Rössing mine alone having produced in excess of 200 Mlb U₃0₈.

Omahola occupies a 35 km x 14 km northwest-southeast trending zone within the Alaskite Alley corridor. Uranium mineralisation at Omahola occurs across three deposits including Ongolo, MS7 and Inca and amounts to a Measured, Indicated and Inferred Resource base of 125.3 Mlb U₃0₈ at 190 ppm. Uranium mineralisation is associated with sheeted leucogranites, known locally as alaskites, and hydrothermal skarn formation.

The prospective portion of Alaskite Alley within EPL3496 has been underexplored and represents a substantial opportunity to discover additional uranium resources of the basement style.

Only a small section of this favourable zone has been adequately drilled in the past. A comprehensive review of existing data showed that both alaskite- and skarn-hosted uranium mineralisation, are primarily structurally controlled. Identifying the presence of structurally weak zones, e.g., lithological contacts of marble and gneiss as well as the proximity to a fold hinge is a key criterion guiding delineation of new targets.

Omahola provides Deep Yellow with another significant exploration target to unlock further value, with potential for resource expansion considering the substantial accumulation of uranium and under-explored nature of the prospective Alaskite Alley.

Deep Yellow completed a shallow drilling program of ~200 holes for 7,100 m, which uncovered three highly-promising targets for follow-up exploration work. Furthermore, 50% of the basement prospective zone remains to be tested.

Omahola Map, including Ongolo, MS7 and Inca