Bannerman Resources Limited
ASX : BMN
NAMIBIAN : BMN

Bannerman Resources Limited

July 24, 2016 19:37 ET

Quarterly Activities Report for the Period Ended 30 June 2016

PERTH, AUSTRALIA--(Marketwired - July 24, 2016) - Bannerman Resources Limited (ASX:BMN)(NAMIBIAN:BMN) had a successful June quarter, including completion of the de-risking of the Etango heap leach process, renewal of its Exclusive Prospecting Licence and delisting from TSX.

HIGHLIGHTS

  • Successful Heap Leach Demonstration Plant Program
    • Results of Phase 4 of the Heap Leach Demonstration Plant further highlight the robustness of the Etango DFS and Optimisation Study;
      • No deleterious elements;
      • Fast and efficient solvent extraction;
      • Confirms DFS solvent extraction design parameters.
    • Heap Leach de-risking now complete with outstanding results and scope for cost reductions.
    • Phase 5 (optimisation and value engineering) commenced.
  • Renewal of Exclusive Prospecting Licence 3345
  • De-Listing from TSX
  • Cash balance as at 30 June 2016 was A$1.6 million.

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

Brandon Munro, Chief Executive Officer

25 July 2016

ABN 34 113 017 128

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