Bannerman Resources Limited
ASX : BMN
NAMIBIAN : BMN

Bannerman Resources Limited

April 28, 2017 07:00 ET

Bannerman Resources Quarterly Activities Report

PERTH, AUSTRALIA--(Marketwired - April 28, 2017) - Bannerman Resources Limited (ASX:BMN)(NAMIBIAN:BMN) ("Bannerman" or "the Company") is pleased to report on a successful March quarter that positions the Company well within an environment of improving uranium sector sentiment.

HIGHLIGHTS

DFS Update Commenced
- Targeting substantial capital and operating cost improvements
- Incorporating results from Demonstration Plant Program
Appointment of Mr Mike Leech to the Board
- NED of Bannerman and Chairman of Namibian subsidiary board
- Uranium industry veteran
- Respected statesman of the Namibian mining industry
Namibian Partner Transaction Signed
- One Economy Foundation to become a 5% loan-carried shareholder in Subsidiary
Uranium market dynamics continue to tighten, driving improved sentiment
- Key Japanese court cases and rulings concluding favourably for nuclear
- Kazatomprom announced 10% production cut in January

Bannerman's Chief Executive Officer, Mr Brandon Munro, said, "Bannerman has continued its solid progress over another successful quarter, culminating in commencement of our DFS Update. Uranium sector sentiment is improving, supply and demand dynamics are tightening and we can foresee a number of catalysts potentially coming into play in the short term."

The full report is available on Bannerman's website at www.bannermanresources.com and on SEDAR (www.sedar.com).

Brandon Munro, Chief Executive Officer

28 April 2017

ABN 34 113 017 128

About Bannerman - Bannerman Resources Limited is an ASX 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 95%-owned Etango Project situated near Rio Tinto's Rössing uranium mine, Paladin's Langer Heinrich uranium mine and CGNPC's Husab uranium mine. 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. Since 2015, Bannerman has conducted 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.

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