Being deaf for a dog is like being a deaf human hunter - imposes some limits but not a deal breaker (that would be blindness for a human or loss of sense of smell for a dog). Consider getting a telemetry collar and receiver like hound hunters use to find their dogs, that way if he gets lost you can go to him.
We have a nonhunting dog in her 14th year that has weak hips, is mostly blind and mostly deaf. She does just fine with her sense of smell only. She trips and stumbles some, but as long as she's not incontinent, not in pain and eating well we'll let her go as long as she can.