Sydney, Jan 10, 2008 (ABN Newswire) - Deep Yellow Limited (ASX: DYL) - The Directors wish to announce early success from limited drilling to test the depth potential of the uranium mineralisation associated with magnetite-iron oxide outcrops (ASX 19 December 2007).

Two 60 degree angled RC drill holes were completed in December, one to 150 m and the other that was meant to terminate at 200 m was curtailed at 127 m due to rig problems, but will be deepened at a future date.

The holes were radiometrically (gamma) logged and although only the preliminary XRF assay data from the obviously uranium mineralised sections has been received, the Directors decided given the potential economic importance of this discovery and recognition of this unknown style of mineralisation in this area that it should be reported to the ASX at this early stage.

The radiometric gamma logs indicate wide zones of uranium mineralisation with equivalent values around 100 ppm U3O8; and narrower zones at higher concentrations. It is the latter that have been assayed and are reported on below. The final uranium assays plus other elements (base metals, iron and thorium) are expected by mid-February and will be reported on when available.
Broadcaster: Deep Yellow Limited (ASX: DYL)

Broadcast Title: DYL - Namibian Update: Magnetite Iron Ore Hosted Uranium Discovery - Mr Martin Kavanagh, Executive Director

Broadcast Type: Audio stream

Audio webcast Link:



Listen to the Audio stream and view the announcement for Deep Yellow Limited (ASX: DYL) below.

http://abnnewswire.net/vlnk/XMSMBI2N


This Audio Cast is based on streaming audio sent in compressed form over the internet and displayed as it arrives. You do not have to wait for the whole file to be downloaded before you can hear it, instead the media is sent in a continuous stream and is played immediately as it reaches your computer. Please note that during live broadcasts there can be a delay of approximately 1-2 minutes, depending on traffic through your Internet Service Provider.

>>> DEEP YELLOW LIMITED