Deep Yellow achieves key milestones for Tumas Project in Namibia

Deep Yellow Limited has announced the completion of two major milestones for its flagship Tumas Project in Namibia.

First, the company’s subsidiary, Reptile Uranium Namibia, has executed a long-term Water Supply Agreement with NamWater. This agreement secures the water capacity required for the project’s construction, commissioning, and long-term uranium production, addressing a critical operating requirement.

Second, Deep Yellow has finalized local ownership arrangements through Subscription and Shareholders Agreements with Oponona Investments. This agreement makes Oponona a 5% shareholder in Reptile Uranium Namibia, ensuring compliance with Namibian local ownership requirements for the project’s mining and prospecting licenses. Under the terms, Oponona’s share of historical and future expenditures will be loan-carried and repayable from future dividends.

The company continues to progress toward an anticipated Final Investment Decision for the Tumas Project in the fourth quarter of 2026.