Bannerman Resources Limited

Bannerman Resources Limited

May 20, 2008 09:29 ET

Bannerman Resources Commissions GRD Minproc For Full Feasibility Study

PERTH, AUSTRALIA--(Marketwire - May 20, 2008) - Bannerman Resources Ltd (TSX:BAN)(ASX:BMN)(NSX:BMN) ("Bannerman" or the "Company"), an Australian-based uranium mine development company, is pleased to announce that a contract has been awarded to the engineering construction company GRD Minproc, a subsidiary of GRD Limited, to produce a Full Feasibility Study (FFS) for the development of a uranium mine at the Goanikontes' Anomaly A project in Namibia

GRD Minproc is an international engineering contractor with offices on three continents and has successfully completed over 200 projects and 300 feasibility studies in over 30 countries. Its recent uranium experience includes the EPCM contract for the Langer Heinrich uranium mine in Namibia, the feasibility study for the Kayelekera uranium project in Malawi and the feasibility study on the Bakouma uranium project in the Central African Republic, together with several other feasibility studies on uranium projects in Africa and Australia.

Work on the FFS will commence immediately and is expected to continue through to the first quarter of 2009. The work will include management and design of the proposed mine, process plant and infrastructure and will provide the basis to progress Anomaly A from a resource to a producing mine.

The work will be managed by Minproc's Perth office in conjunction with their African office and various sub-consultants based in Australia and Africa.

"This is a very significant milestone for the Anomaly A Project and Bannerman Resources. With the appointment of GRD Minproc the scale and pace of development at Anomaly A will accelerate dramatically as we move from explorer status through to construction and major producer status. GRD Minproc has been operating in Africa for almost 20 years and has significant depth of capability in project delivery in all regions of Africa. With an impressive background in uranium mining projects and a standing as a world class engineering consultant amongst the international financial community, we believe we have brought together all the right ingredients to enable us to progress our Anomaly A Project and establish our mining operation in Namibia," says Peter Batten, Managing Director of Bannerman Resources.

GRD Chief Executive Officer Cliff Lawrenson said GRD Minproc had earned a strong reputation as a world leader in uranium engineering through its involvement in studies and projects for the most prominent uranium producers and developers in the southern hemisphere.

Qualified Person

The information in this release that relates to the projects owned by Bannerman Resources Ltd is based on information compiled by Mr Peter Batten, who is a Member of The Australasian Institute of Mining and Metallurgy and who has sufficient experience relevant to the style of mineralisation and types of deposits under consideration and to the activity which is being undertaken to qualify as Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and as a Qualified Person for purposes of National Instrument 43-101 of the Canadian Securities Administrators

About Bannerman

Bannerman Resources Limited is an emerging uranium producer with interests in two properties in Namibia and a number of properties in Botswana and Australia. Its principal and most significant asset is its 80% interest in the Anomaly A project located in the world-class uranium country of Namibia and situated on a trend southwest of the Rio Tinto Rossing uranium mine.

Bannerman is currently focused on accelerating the development of Anomaly A and the company expects to bring its Anomaly A deposit into production in 2011.

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