Namibia Projects

EXPLORATION (June 2010)

Reptile Project

Exploration in Namibia is carried out by Reptile Uranium Namibia (Pty) LTD (Reptile) a wholly owned subsidiary of Deep Yellow Limited (DYL).

Figure 1: Locality map showing RUN's four EPLs and projects, the three Nova EPLs plus uranium mines and projects held by other companies

INCA uraniferous magnetite

Primary mineralisation
Hardrock
Drill and blast
Acid plant treatment
JORC Code resource
Active drilling

Tumas, Tubas and Oryx palaeochannels

Secondary mineralisation
Palaeochannel deposit
Free dig and/or drill and blast
Alkali plant treatment
JORC Cde Resource
Active drilling

Tubas Red Sand

Secondary mineralisation
Free dig
Acid or alkali plant treatment

Tubas Alaskite discovery

Primary mineralisation
Hardrock
Drill and blast
Acid plant treatment
Active drilling

Aussinanis

Secondary mineralisation
Sheetwash deposit
Free dig and/or drill and blast
Alkali plant treatment
JORC Code resource

Key Points

RUN holds 100% of four contiguous Exclusive Prospecting Licences (EPLs) covering 2,681 km² that contains historical discoveries of gypcrete, calcrete and sand hosted secondary uranium mineralisation;
JORC Code resources total 151.7 million tonne at 250 ppm U3O8 for 37,853 tonne or 83.4 million pounds of U3O8.
SNC Lavalin appointed as consultants to complete the Omahola Project Pre-Feasibility Study.
Ongoing reconnaissance drilling on the 80 km long Tumas-Tubas palaeochannel system continues to return some exceptionally good intersections.
Regional drill programme early success – Tubas Alaskite discovery.
Acceptance by the Namibian Ministry of Mines and Energy (MME) of Reptile Uranium Namibia Pty Ltd’s (RUN) proposal to introduce a Namibian Partner (Oponona Investments) representing previously disadvantaged individuals and a broader Community Benefit Trust at the project (Mining Licence) stage instead of equity participation in the Exclusive Prospecting Licences (EPLs).
Renewal of the three EPLs that expired in June 2009 for a further two years in their entirety.
A Joint Venture with Toro Energy over three EPLs held by their subsidiary Nova Energy Namibia that adjoin RUN’s tenements. The terms allow RUN to earn a 65% interest with Toro retaining 25% and a BEE Company holding the remaining 10%.
Drilling continues with 8 to 10 rigs and metreage is between 10,000 and 20,000 metre per month.
Further JORC Code resource estimations are pending and existing ones will be increased as drilling progresses.
All aspects of the metallurgical and chemical testwork done on the INCA and Tubas Red Sand have been successful and are progressing well.
Exploration expenditure approved by the DYL Board to end 2010 is in the order of A$1.5 million a month.
RUN has 53 permanent staff running the exploration programmes out of the Company’s Swakopmund office. This excludes the contractor drilling and rehabilitation company personnel which total about 50.

Figure 2: Location of drillholes completed (to 8 April 2010) on the EPLs to date (click to view expanded)

FUTURE ACTIVITIES (June 2010)

Additional resources from INCA; and Oryx-Tumas palaeochannel as infill drilling progresses.
Pre-Feasibility Study on the viability of the Omahola Project (INCA and the Tubas Red Sand) to produce 1,000 to 1,100 tonne per annum of U3O8 at a feed grade of 400 ppm.
Ongoing drilling to test the extent of INCA and similar anomalies elsewhere.
Ongoing reconnaissance drilling on the stratigraphic horizon hosting Extract Resources’ Rossing South deposits where it occurs in the RUN and possibly Nova EPLs.
Drill testing of airborne geophysical anomalies on the Nova EPLs.

For further information about our Namibian projects visit:

INCA Project
Tubas Red Sand Project
Palaeochannel Drilling (Tubas, Oryx, Tumas)
Tubas Alaskite
Aussinanis Project
BEE Agreement
Nova Energy JV