Partial relinquishment report

Abstract

Exploration Licence 24547 was granted to Deep Yellow Ltd (DYL) on 17 August 2007. The Nonouba tenement, originally covering 200 blocks, is located approximately 70 kilometres southwest of Alice Springs. The Nonouba ground was previously explored for uranium by Uranerz from 1972-1983. Uranerz identified two prospects, Daria and Nonouba, and returned assays up to 1,900 ppm U3O8 over 0.5m, hosted by carbonaceous-pyritic Undandita Sandstone. The target is roll front uranium mineralisation as delineated at the Angela-Pamela project of Paladin/Cameco. Throughout the reporting period exploration work over the relinquished tenement areas was limited to conducting a reconnaissance field visits and data review. An Authority Certificate with 11 Exclusion Zones was issued on 30 August 2008 and an Authorisation under the Mining Management Act was granted on 1 September 2008. DYL relinquished an area of 70 blocks within EL 24547 at the end of the third year of term and sought a partial waiver from relinquishment in order to retain 108 blocks for the fourth year of term.