Deep Yellow Announces Drilling Update On Isa West Project, Australia

Published: 26-May-2009

Deep Yellow Limited (Deep Yellow) has reported a downhole gamma logging results from renewed drilling at the Thanksgiving prospect enhances its 2008 results and the prospectivity of the Isa West project as a whole. To date, nine holes for 828 meters have been finished and 314 samples collected. Additional holes have been planned between Citation and Thanksgiving over anomalous results from ground magnetic surveys.

Best intersections:

55 m at 587 parts per million (ppm) eU3O8 from 27 m;

Three meters (m) at 2,902 ppm eU3O8 from 55 m;

Seven meters at 682 ppm eU3O8 from 40 m and

11 m at 511 ppm eU3O8 from 55 m.

Drilling Summary at Thanksgiving

Elongation of the existing pads to allow for potential undercut holes and clearing of new pads to test the magnetic anomalies is planned for this week.

Geological and radiometric logging of the drill holes indicate that mineralization is hosted by weakly to moderately, albitite-hematitemagnetite altered amphibolite.

The mineralized zone appears to be dipping to the west at about 45 degrees. The mineralization is still open to the north and at depth.

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