Bannerman Resources

Published : May 20th, 2008

Commissions GRD Minproc for Full Feasibility Study

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Keywords :   Australia | Malawi | Namibia | Uranium |
======================================================================
Re: News Releases - Tuesday, May 20, 2008
Bannerman Resources Commissions GRD Minproc for Full Feasibility
Study
======================================================================

Perth, Australia -- May 20, 2008 -- Bannerman Resources Ltd (ASX: BMN,
TSX: BAN, NSX: BMN) ("Bannerman" or the "Company"), an Australian-based
uranium mine development company, is pleased to announce that a
contract has been awarded to the engineering construction company GRD
Minproc, a subsidiary of GRD Limited (ASX:GRD), to produce a Full
Feasibility Study (FFS) for the development of a uranium mine at the
Goanikontes' Anomaly A project in Namibia

GRD Minproc is an international engineering contractor with offices on
three continents and has successfully completed over 200 projects and
300 feasibility studies in over 30 countries. Its recent uranium
experience includes the EPCM contract for the Langer Heinrich uranium
mine in Namibia, the feasibility study for the Kayelekera uranium
project in Malawi and the feasibility study on the Bakouma uranium
project in the Central African Republic, together with several other
feasibility studies on uranium projects in Africa and Australia.

Work on the FFS will commence immediately and is expected to continue
through to the first quarter of 2009. The work will include management
and design of the proposed mine, process plant and infrastructure and
will provide the basis to progress Anomaly A from a resource to a
producing mine.

The work will be managed by Minproc's Perth office in conjunction with
their African office and various sub-consultants based in Australia and
Africa.

"This is a very significant milestone for the Anomaly A Project and
Bannerman Resources. With the appointment of GRD Minproc the scale and
pace of development at Anomaly A will accelerate dramatically as we
move from explorer status through to construction and major producer
status. GRD Minproc has been operating in Africa for almost 20 years
and has significant depth of capability in project delivery in all
regions of Africa. With an impressive background in uranium mining
projects and a standing as a world class engineering consultant amongst
the international financial community, we believe we have brought
together all the right ingredients to enable us to progress our Anomaly
A Project and establish our mining operation in Namibia," says Peter
Batten, Managing Director of Bannerman Resources.

GRD Chief Executive Officer Cliff Lawrenson said GRD Minproc had earned
a strong reputation as a world leader in uranium engineering through
its involvement in studies and projects for the most prominent uranium
producers and developers in the southern hemisphere.

Qualified Person
The information in this release that relates to 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

About Bannerman

Bannerman Resources Limited is an emerging uranium producer with
interests in two properties in Namibia and a number of properties in
Botswana and Australia. Its principal and most significant asset is its
80% interest in the Anomaly A project located in the world-class
uranium country of Namibia and situated on a trend southwest of the Rio
Tinto R�ssing uranium mine.

Bannerman is currently focused on accelerating the development of
Anomaly A and the company expects to bring its Anomaly A deposit into
production in 2011.


ENDS



For further information please contact:

Peter Batten
Managing Director
Bannerman Resources
Ph: +61 8 9381 1436
Em: peter@bannermanresources.com.au

Ann Gibbs
Investor Relations
Bannerman Resources
Ph: +1 416 388 7247
Em: ann@bannermanresources.com.au

======================================================================
Copyright (c) 2008 BANNERMAN RESOURCES LIMITED (BAN) All rights
reserved. For more information visit our website at
http://www.bannermanresources.com/ or send
mailto:questions@bannermanresources.com
Message sent on Tue May 20, 2008 at 6:41:21 AM Pacific Time
======================================================================
.
Data and Statistics for these countries : Australia | Malawi | Namibia | All
Gold and Silver Prices for these countries : Australia | Malawi | Namibia | All

Bannerman Resources

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CODE : BMN.AX
ISIN : AU000000BMN9
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Bannerman is a uranium development stage company based in Australia.

Its main asset in development is ETANGO in Namibia and its main exploration properties are SWAKOP RIVER in Namibia and SERULE SOUTH, SERULE NORTH and DUKWE in Botswana.

Bannerman is listed in Australia, in Canada and in Germany. Its market capitalisation is AU$ 1.7 billions as of today (US$ 1.3 billions, € 1.1 billions).

Its stock quote reached its lowest recent point on March 27, 2020 at AU$ 0.02, and its highest recent level on September 30, 2022 at AU$ 2.05.

Bannerman has 849 630 016 shares outstanding.

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