Deep Yellow Limited's Announcement of Ausenco as Preferred EPCM Contractor

Deep Yellow Limited (ASX: $DYL) has announced that Ausenco Services Pty Ltd has been selected as the preferred contractor to deliver the Detailed Engineering and the Engineering, Procurement and Construction Management (EPCM) services for the Company's flagship Tumas Project located in Namibia. The scope of work includes finalizing Detailed Engineering with an EPCM contract opportunity for project execution, with the tendered price commensurate with the capital cost estimates defined in the December 2023 Re-Costing Addendum. Commercial agreements and contracts award for Detailed Engineering are expected to be finalized over the coming months as Deep Yellow progresses Tumas towards a Final Investment Decision (FID). An EPCM contract is planned to be executed post-FID, and the company aims to commence operations in 2026, establishing Tumas as the 4th uranium mine in Namibia.

Executive Commentary on Ausenco Selection

Deep Yellow Managing Director and CEO John Borshoff expressed, 'The selection of Ausenco as the preferred EPCM Contractor for the Tumas Project is a significant project milestone. Ausenco is a market-leading engineering firm, highly regarded within the industry for their technical ability and track record of project delivery. Having Ausenco on board will complement the project delivery team to add significant value to the exciting Tumas Project, in a period of extended positive outlook in the uranium supply sector.' Ausenco President Reuben Joseph stated, 'Ausenco is proud to be selected as the preferred EPCM Contractor for the Tumas Project. From our involvement in the Project since 2019, and in particular, the work we completed on the DFS and subsequent December 2023 Re-Costing Addendum for Tumas, we fully understand the Project's exciting potential and Tier-1 status. We look forward to working with Deep Yellow and providing our extensive skill set and market-leading engineering and project delivery experience.'

Summary of Deep Yellow's Announcement

Deep Yellow Limited (ASX: $DYL) has chosen Ausenco Services Pty Ltd as the preferred contractor for the Detailed Engineering and the Engineering, Procurement and Construction Management (EPCM) services for its flagship Tumas Project in Namibia. The selection of Ausenco marks a significant milestone for the Tumas Project, with the intention to execute an EPCM contract following the Final Investment Decision (FID). The company aims to commence operations in 2026, establishing Tumas as the 4th uranium mine in Namibia. Deep Yellow's ambitions include becoming a globally diversified, Tier-1 uranium company aiming to produce 10+Mlb p.a. and providing production optionality, security of supply, and geographic diversity. The announcement reflects the company's commitment to advancing its growth strategy and establishing itself as a reliable and long-term uranium producer.