Highlights
• Two major civil and concrete construction contracts awarded for Tumas Project
following a competitive tender process.
• Combined estimated contract value of approximately A$34 million1 and continues
Deep Yellow’s disciplined de-risking of Tumas Project.
• Contracts awarded to 100% Namibian-owned contractors, reinforcing Deep Yellow’s
commitment to local content and supporting in-country capability.
• Work packages include processing plant concrete, precast infrastructure and Runof-Mine retaining structures.
• Mobilisation scheduled for August 2026 with sequential handover to reduce future
execution risk while preserving project development flexibility.
Deep Yellow Limited (Deep Yellow or the Company) (ASX: DYL) is pleased to announce the
award of two major civil and concrete construction contracts for its flagship Tumas Project
(Tumas or the Project) in Namibia.
The contract awards represent another important step in Deep Yellow’s disciplined project
execution strategy, ensuring critical construction capability is secured ahead of major
development activities while maintaining flexibility as the Company progresses toward a Final
Investment Decision (FID) anticipated in Q4 of 2026.
Commenting on the Tumas contract awards, Deep Yellow Managing Director and CEO Greg
Field said:
“These awards represent another important milestone in our disciplined approach to project
development. Our objective has always been to systematically remove execution risk, secure
high-quality contractors and ensure the Project is positioned for efficient delivery as we advance
toward FID towards the end of this year.
Civil and concrete works are fundamental to the successful delivery of any major processing
facility. Securing these capabilities now creates multiple construction work fronts, increasing
execution flexibility and strengthening confidence in execution once FID is reached.
1 Rounded to the nearest A$ million. The contracts are in NAD and converted to AUD based on the Bloomberg exchange rate as at 15
July 2026.
ASX ANNOUNCEMENT: TUMAS CIVIL AND CONCRETE CONSTRUCTION CONTRACTS AWARDED Page 2 of 3
We are equally pleased that both contracts have been awarded to highly capable Namibian
companies. Developing Tumas in partnership with local industry is central to our strategy and
reflects our commitment to delivering long-term value for Namibia alongside our shareholders.”
Contract Awards
Following a competitive tender process, two contracts have been awarded covering the civil and
concrete infrastructure required across the Tumas processing facilities.
The first contract has been awarded to Namibia Construction Pty Ltd. The estimated contract
value is approximately A$18.5 million2 and is on terms consistent for construction contracts of
this nature. The scope of this contract includes reinforced concrete construction within the
beneficiation, leach feed thickening and tailings transfer facilities, fabrication and installation of
precast concrete elements across the processing plant and the design and construction of the
reinforced earth retaining wall supporting the Run-of-Mine stockpile.
The second contract has been awarded to Nexus Building and Civils Contractors Pty Ltd. The
estimated contract value is approximately A$15.5 million3 and is on terms consistent for
construction contracts of this nature. This contract includes construction of reinforced concrete
foundations, plinths, slabs and associated embedded infrastructure throughout the balance of
plant.
Both contracts have been awarded to well-established and highly regarded Namibian-owned
contractors and are expected to be executed using predominantly Namibian workforces.
The awards reflect Deep Yellow’s commitment to developing sustainable local capability and
maximising in-country economic benefits from the Project.
Mobilisation is expected to commence in August 2026, with the civil and concrete works to be
delivered sequentially. While these works do not alter the Project’s critical path or the planned
24-month construction schedule following FID, they establish multiple concurrent work fronts
that provide greater execution flexibility, reduce schedule risk and improve confidence in
successful project delivery.
This ASX announcement was authorised for release by the Board of Deep Yellow Limited.
Contact
Investors: Media:
Greg Field
MD/CEO
Deep Yellow Limited
Peter Klinger
Director
Purple
+61 8 9286 6999 +61 (0)411 251 540
info@deepyellow.com.au pklinger@purple.au
2 Rounded to the nearest A$500,000. The contract is in NAD and converted to AUD based on the Bloomberg exchange rate as at 15
July 2026. 3 Rounded to the nearest A$500,000. The contract is in NAD and converted to AUD based on the Bloomberg exchange rate as at 15
July 2026.
ASX ANNOUNCEMENT: TUMAS CIVIL AND CONCRETE CONSTRUCTION CONTRACTS AWARDED Page 3 of 3
About Deep Yellow Limited
Deep Yellow is progressing a dual-pillar growth strategy aimed at establishing a globally
diversified, leading uranium producer with a targeted production profile of more than 10Mlb per
annum.
The Company’s development portfolio is anchored by two advanced uranium projects located in
Tier 1 mining jurisdictions — the flagship Tumas Project in Namibia and Mulga Rock Project in
Western Australia — both positioned to support future long-term production growth.
Deep Yellow’s future growth is underpinned by its highly prospective exploration portfolio –
Alligator River, Northern Territory and Omahola, Namibia, with ongoing M&A focused on highquality assets should opportunities arise that best fit the Company’s strategy.
Led by a best-in-class team with a proven track record of building and operating uranium mines,
Deep Yellow is advancing its growth strategy at a time when nuclear energy is increasingly
recognised as an essential component of the global energy mix, supporting reliable baseload
power generation and long-term decarbonisation objectives. Importantly, Deep Yellow is on track
to becoming a reliable and long-term uranium producer, able to provide production optionality,
security of supply and geographic diversity.
Forward Looking Statements
This announcement may contain some references to estimates, forecasts, projections or other
forward looking statements (forward looking statements). Although Deep Yellow believes that its
forward looking statements are based on reasonable assumptions, it can give no assurance that
they will be achieved or that they will occur. They may be affected by a variety of variables and
changes in underlying assumptions that are subject to risk factors associated with the nature of
the business which could cause actual outcomes or results to differ materially from those
expressed herein including without limitation, permitting, fluctuations in commodity prices,
uranium supply and demand, shortages of labour and construction materials, availability of
equipment, inflation, availability of capital and financing and geopolitical risks including armed
conflict or escalation of hostilities in the Middle East. Accordingly, no representations are made
by Deep Yellow or its affiliates, subsidiaries, directors, officers, agents, advisers or employees as
to the accuracy, reliability or completeness of forward looking statements and they should not be
relied upon as indicative of future value or as a guarantee of value or future results.
Source: Deep Yellow Limited