Bannerman Resources Limited
ASX : BMN
TSX : BAN
NAMIBIAN : BMN

Bannerman Resources Limited

December 24, 2015 07:00 ET

Bannerman Files 43-101 Technical Report for Etango Uranium Project Optimisation Study

PERTH, AUSTRALIA--(Marketwired - Dec. 24, 2015) - Bannerman Resources Limited (ASX:BMN)(TSX:BAN)(NAMIBIAN:BMN) ("Bannerman" or the "Company") advises that it has today filed the attached Technical Report on the Company's Etango Uranium Project with the Canadian securities regulators in accordance with the Company's ongoing disclosure obligations for the Toronto Stock Exchange listing.

The Technical Report is a comprehensive summary of the recently-completed Optimisation Study ("OS") on the geological modelling and mine planning aspects of the Etango Definitive Feasibility Study ("DFS"), which was compiled in April 2012. The OS also reflects updated capital and operating cost estimates. The report has been prepared with the assistance of independent consulting firms AMEX Foster Wheeler and Optiro in accordance with Canadian National Instrument 43-101. The OS has significantly enhanced the project economics and re-enforces Etango to be a globally significant uranium project with average annual forecast production of 7.2 million pounds U3O8 per year over a 15.7 year mine life. The project is located in Namibia, a premier uranium mining jurisdiction with nearby infrastructure and demonstrated political and social support for uranium mining operations.

A copy of the Technical Report can be obtained from the Canadian Securities Administrators. SEDAR filing system at www.sedar.com or from Bannerman's website at www.bannermanresources.com.

About Bannerman - Bannerman Resources Limited is an ASX, TSX and NSX listed exploration and development company with uranium interests in Namibia, a southern African country which is a premier uranium mining jurisdiction. Bannerman's principal asset is its 80%-owned Etango Project situated near Rio Tinto's Rössing uranium mine, Paladin's Langer Heinrich uranium mine and CGNPC's Husab uranium mine currently under construction. A definitive feasibility study and an optimisation study have confirmed the technical, environmental and financial (at consensus long term uranium prices) viability of a large open pit and heap leach operation at one of the world's largest undeveloped uranium deposits. In 2015-16, Bannerman is conducting a large scale heap leach demonstration program to provide further assurance to financing parties, generate process information for the detailed engineering design phase and build and enhance internal capability. More information is available on Bannerman's website at www.bannermanresources.com.

ABN 34 113 017 128

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