jv drill results

Deep Yellow Limited Page No. 1
ABN 97 006 391 948
Level 1 329 Hay Street Subiaco WA 6008
PO Box 1770 Subiaco WA 6904
Tel : 08 9286 6999
Fax : 08 9286 6969
Email: [email protected]
Website: www.deepyellow.com.au
12 February 2007
Deep Yellow Limited / Matrix Metals Limited
NW Queensland Uranium Joint Venture (Earning 80%)
RESULTS FROM DECEMBER 2006 DRILLING
The Directors are pleased to announce that the assay results from the recent drill programme at
the Miranda Prospect (as reported in the December Quarterly Report - ASX release 25 January
2007) have outlined a broad zone of uranium mineralisation with a strong iron oxide
association.
Significant intersections include:
• DMRC001 Complete hole length of 60 m contains 233 ppm U3O8, including 12 m at 960 ppm
U3O8 from 9 m downhole.
• DMRC-002 Complete hole length of 78 m contains 47 ppm U3O8, including 3 m at 730 ppm
U3O8 from 43 m downhole.
Miranda (EPM 14281)
At the Miranda Prospect two holes were drilled to undercut a bedrock uranium anomalous zone
(peak assay 0.964% (9,640 ppm)) U3O8.
The first hole (DMRC-001) was drilled 20 metre northeast of the 1982 CRA percussion hole which
returned 18m @ 0.081% (810 ppm) U3O8 from 30 metre downhole. Both holes 001 and 002
intersected variably chlorite-magnetite altered, weakly pyritic granitoid, which contained inclusions
of (magnetite)-(quartz)-chlorite-schist occurring either as brecciated blocks or in strongly foliated,
structurally deformed zones.
Hole DMRC-002 undercuts DMRC-001 by 15 metre horizontal collar move, both holes were drilled
at -60º to NE. DMRC-002 should preferably have been drilled to 90 metre depth, but bushfire
encroachment prevented this.

Deep Yellow Limited / Matrix Metals Limited
NW Queensland Uranium Joint Venture (Earning 80%)
Deep Yellow Limited Page No. 2
The Directors are encouraged by the width of anomalous and high uranium assay values attained
which together with a strong iron oxide association as evidenced by coincident uranium –
magnetite – pyrite mineralisation and chloritic alteration bode well for this to become a
significant uranium project.
Multi-element ICP analysis will be available shortly which will assist to better understand the
mineralisation style.
Given the association of uranium mineralisation with magnetite at Miranda it is planned to
undertake a detailed magnetic and radiometric survey of the immediate area prior to systematic
drilling when the wet season allows.
Lochness (EPM 14916)
Although broad zones of anomalous uranium values to 68 ppm U3O8 are present at the Lochness
and Lochness North Prospects, the results were disappointing given the strongly limonite-altered
gossanous mudstones units intersected and the rock chip values of surface samples of the limonite
gossan material that returned assays up to 240 ppm U3O8.
Structural mapping will be carried out prior to further drilling.
Dr Leon Pretorius
Executive Chairman
Further Information:
Mr Martin Kavanagh
Executive Director
(08) 9286 6999
The information in this report that relates to Exploration Results is based on information compiled by Mr Rudy Vooys,
who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Vooys is an independent geological
consultant employed by Ravex Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr Vooys consents to the inclusion in the report of the matters based on his information in the form and
context in which it appears.