Bannerman Resources Limited
TSX : BAN
ASX : BMN

Bannerman Resources Limited

December 12, 2007 00:22 ET

New Regional Radiometric Data Prepares Bannerman for Extensive 2008 Exploration Push

Highlights: - The Company's first on ground exploration programme outside Anomaly A generates major drill targets. - The Rossingburg Anomaly is now continuous over 4.5 kilometres with extensions up to 6 kilometres. - A very strong uranium anomaly, over 3 kilometres, identified at Ombuga South.

TORONTO, ONTARIO--(Marketwire - Dec. 12, 2007) - Australian based Uranium exploration and development company Bannerman Resources Ltd (TSX:BAN)(ASX:BMN) is finalising the drilling of its first uranium deposit, the Goanikontes Anomaly A deposit in Namibia.

As resource drilling advances is completed the RC rigs will be made becoming available for the Company's exploration programmes.

The Company has recently completed its first detailed ground radiometric survey over the southern portion of the 15 kilometre long airborne radiometric anomaly adjacent to the Rossingburg Dome. This survey was conducted by geophysical consultants using a DGPS controlled full spectral logging tool that measures the energy bands for Uranium Thorium, Potassium and Total Counts.

Ground Radiometric Survey

A nine kilometre long area at the Rossingburg Dome nose was selected for the survey. The area was identified in 2006 from regional aerial radiometrics as anomalous. Drilling by Rio Tinto in the 1970s completed 3 holes in the area. Recent field inspections have located two of these holes (see Figure 2) one of which intersected uranium mineralisation from surface with the intercept being 57.2m at a grade of 230 ppm U3O8.

The ground radiometric survey has located a 4.5 kilometre strike anomaly in the area of the Rossingburg prospect with a proximal extension extending up to 6 kilometres. This is significantly larger than previously estimated from the regional airborne radiometric data.

On the northern boundary of the survey area, a particularly strong uranium anomalism was encountered at the Ombuga South prospect over a 3 kilometre long strike (Figure 2).

Summary

The Company's initial exploration beyond the resource area at Anomaly A has identified extensive areas of continuous and strong uranium anomalism originally identified from regional airborne radiometric data.

The mineralised Rossingburg anomaly is clearly defined over 4 to 6 kilometres, with historic records indicating potential for economic mineralisation.

Similarly, the Ombuga South anomaly is outlined over 3 kilometres and is open along strike.

Bannerman has now commenced initial exploration beyond Anomaly A in preparation for drilling once the resource drilling currently underway is completed. This programme, as well as the Company's exploration programmes at Swakop River and in Botswana, are expected to run continuously and concurrently throughout 2008.

The information in this report that relates to the Exploration Results, Mineral Resources or Ore Reserves of 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.. Mr Batten consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

To view "Figure 1: Location Plan", and "Figure 2: Area of Detailed Ground Radiometric Survey", please visit the following link: http://www.ccnmatthews.com/docs/ban1211a.pdf

Contact Information