Bannerman Update Regarding Hanlong Acquisition Proposal

PERTH, AUSTRALIA--(Marketwire - Sept. 13, 2011) - Bannerman Resources Limited (ASX:BMN)(TSX:BAN)(NSX:BMN) ("Bannerman" or the "Company") notes this morning's press reports regarding investigations by the Australian Securities and Investments Commission into suspected insider trading activities by certain executives of the Sichuan Hanlong Group ("Hanlong") in the securities of Bannerman and Sundance Resources Limited.

Bannerman advises that, consistent with its previous releases, it continues to engage in discussions with Hanlong regarding the acquisition proposal made by Hanlong and announced to the market by Bannerman on 11 July 2011.

Further updates will be provided in due course.

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 Rössing uranium mine and to the west of Paladin Energy's Langer-Heinrich mine. Etango is one of the world's largest undeveloped uranium deposits. Bannerman is focused on the feasibility assessment and development of a large open pit uranium operation at Etango. More information is available on Bannerman's website at www.bannermanresources.com.

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