Annual report for EL 25101 for the period 21 November 2009 to 20 November 2010

Abstract

The Mordor West tenement, covering 15 blocks, is located approximately 60 kilometres north-east of Alice Springs. Exploration Licence 25101 was granted to Deep Yellow Ltd (DYL) on 21 November 2006. DYL entered into a Joint Venture Agreement (JVA) with Rum Jungle Uranium Ltd (RJU) commencing on the 30 November 2007. This included EL 25101 and a number of other tenements in the region over which RJU earned a 50% interest. RJU handed the tenement back to DYL during the previous reporting period. Exploration over the tenement conducted by RJU throughout the JVA included general reconnaissance work and ground gravity and radiometric surveys. Exploration carried out by DYL during the current reporting period has been limited to data review.