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

Bannerman Resources Limited

April 01, 2015 07:00 ET

Bannerman Resources Limited: Share Purchase Plan Closing Date Extended

PERTH, AUSTRALIA--(Marketwired - April 1, 2015) -

"NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION INTO THE UNITED STATES"

Bannerman Resources Limited (ASX:BMN)(TSX:BAN)(NAMIBIAN:BMN) wishes to announce that it has extended the closing date of the Share Purchase Plan ("SPP") beyond the Easter Weekend from 2 April to 14 April 2015 to give eligible shareholders additional time to consider the opportunity to participate in the SPP.

Other than the amendment to the Closing Date and the indicative timetable, the Offer Document, Application Form and terms and conditions as sent to eligible shareholders on or about 10 March 2015 all remain the same.

The revised indicative timetable for the SPP is as follows:

Event Date Notes
Record Date 4 March 2015, 5:00pm (AWST), 5.00am (Toronto time) Date for determining eligible shareholders' entitlement to participate in the SPP.
Date of Dispatch of SPP documents 10 March 2015 Bannerman mails to all eligible shareholders the SPP Offer document, which contains the terms and conditions of the SPP.
SPP Opening Date 11 March 2015 SPP opens.
SPP Closing Date 14 April 2015, 5:00pm (AWST), 5.00am (Toronto time) SPP closes.
Allotment Date 21 April 2015 Shares to be issued under the SPP are allotted.
Quotation Date 22 April 2015 Shares issued under the SPP are tradable on the ASX, TSX and NSX.

The timetable is indicative only and Bannerman may, at its discretion, vary any of the above dates by sending a revised timetable to the ASX.

Bannerman reserves the right to place the shortfall under the Company's current share issue capacity under ASX Listing Rules 7.1 and 7.1A.

Shareholders are encouraged to read the terms and conditions carefully and if in any doubt about whether or not to accept the offer, to consult a professional adviser.

Proceeds from the SPP will, as set out in the SPP Offer document, be used to operate the Etango Heap Leach Demonstration Plant and for general working capital requirements.

Len Jubber, Chief Executive Officer

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 has 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, 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.

This announcement does not constitute an offer of securities for sale in the United States or to "US persons" (as defined in Regulation S under the US Securities Act of 1933, as amended (the "Securities Act"))("U.S. Person") and may not be sent or disseminated in, directly or indirectly, the United States or to any U.S. Person or any person acting for the account or benefit of any U.S. Person in any place. Bannerman shares have not been and will not be registered under the Securities Act or the securities laws of any state of the United States and may not be offered, sold or otherwise transferred in the United States or to or for the account or benefit of any U.S. Person except in compliance with the registration requirements of the Securities Act and any other applicable state securities laws or in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and applicable state securities laws.

Mineral resources that are not ore reserves do not have demonstrated economic viability.

Certain disclosures in this release, including management's assessment of Bannerman Resources Limited's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Bannerman's operation as a mineral development company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The following are important factors that could cause Bannerman's actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and the uncertainty of access to additional capital. Full descriptions of these risks can be found in Bannerman's various statutory reports, including its Annual Information Form available on the SEDAR website, sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements. Bannerman expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

ABN 34 113 017 128

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