Bannerman Resources Limited

Bannerman Resources Limited

August 13, 2009 06:30 ET

Bannerman Appoints Project Director to Lead Etango Project Development

PERTH, AUSTRALIA--(Marketwire - Aug. 13, 2009) - Australian-based uranium mine development and exploration company, Bannerman Resources Limited (TSX:BAN)(ASX:BMN)(NSX:BMN)("Bannerman"), has expanded its management team with the appointment of a Project Director to spearhead the feasibility assessment, mine permitting and ultimate construction of the Etango Uranium Project in Namibia, southern Africa.

Bannerman is pleased to announce the appointment of Mr John Turney to the role of Project Director - Etango with effect from August 31, 2009. Mr Turney will have overall responsibility for the development of the Etango Project reporting directly to Bannerman CEO Mr Len Jubber.

Mr Turney has 35 years' diversified experience primarily with Homestake Mining Company and Barrick Gold Corporation in mining and milling operations and project development in the USA, Canada, South America, Australia and Africa. In addition, his most recent role was that of General Manager Leaching at Bateman Engineering based in Australia. In the past ten years, Mr Turney led the successful development of the Cowal gold project in Australia and the Tulawaka gold project in Tanzania, as well as other development and capital project roles for both Homestake and Barrick.

Bannerman's Chief Executive Officer, Mr Len Jubber, said: "Mr Turney's diversified large project experience, as well as his extensive processing background, will add substantially to Bannerman's existing capability at an important stage of the Etango Project development program. The appointment of Mr Turney signals Bannerman's focus upon development of the 5-7Mlb U3O8 per annum Etango project in Namibia's attractive investment and operating environment."

About Bannerman - Bannerman Resources Limited is an emerging uranium development company with interests in two properties in Namibia, a southern African country considered to be a premier uranium mining jurisdiction. Bannerman's principal asset is its 80%-owned Etango Project situated southwest of Rio Tinto's Rossing uranium mine and to the west of Paladin Energy's Langer-Heinrich uranium mine. Etango is one of the world's largest undeveloped uranium deposits. Bannerman is focused on resource extension drilling and the feasibility assessment of a large open pit mining operation at Etango. More information is available on Bannerman's website at

Regulatory Disclosures:

Bannerman has not completed feasibility studies on its projects. Accordingly, there is no certainty that such projects will be economically successful. Mineral resources that are not ore reserves do not have demonstrated economic viability.

Certain disclosures in this report, including management's assessment of Bannerman'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, Readers are cautioned not to place undue reliance on forward-looking statements. Bannerman Resources Ltd 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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