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Re:   News Release - Saturday, July 18, 2009
      Bannerman Significantly Expands the Etango Project Mineral
      Resource Estimate
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PERTH, AUSTRALIA - July 17, 2009 - Australian-based uranium mine
development and exploration company, Bannerman Resources Limited
(TSX:BAN)(ASX:BMN)(NSX:BMN)("Bannerman"), continues to advance
development of its Etango Uranium Project in Namibia, southern Africa,
today announcing an updated mineral resource estimate.

Highlights include:

- 21% increase in Measured & Indicated Resources from 89.2Mlbs to
107.7Mlbs U3O8 at an average grade of 208ppm U3O8.

- 40% increase in Inferred Resources from 37.4Mlbs to 52.4Mlbs U3O8 at
an average grade of 197ppm U3O8.

- 67% of the total resource estimate is in the Measured & Indicated
categories.

- Two thirds of the total resource estimate is located within 200
metres of surface.

- Increased mineral resource for the Oshiveli deposit comprising
Indicated Resources of 12.4Mlbs U3O8 and Inferred Resources of 8.3Mlbs
U3O8. Inaugural mineral resource for the Onkelo deposit comprising
Inferred Resources of 20.2Mlbs U3O8.

- Resource extension drilling continues at the Oshiveli and Onkelo
deposits.

Note: Mineral resources are reported at a lower cut-off of 100ppm U3O8.

Bannerman CEO Len Jubber said: "This substantial increase in the
mineral resource estimate continues to elevate the Etango deposit in
the ranking of globally significant uranium deposits. The 5km long
mineral resource at Etango occurs over a broad width and at shallow
depth with approximately two thirds of the resource located within 200
metres from surface."

"Bannerman is continuing with resource extension drilling and is also
well advanced with a feasibility study of an open pit uranium mining
operation at Etango. Results from the ongoing resource extension
drilling will be released as they become available during the second
half of 2009," he added.

Mineral Resource Update

The July 2009 Etango Project mineral resource estimate, at a cut-off
grade of 100 parts per million ("ppm") U3O8, represents a 26% increase
in the contained uranium content compared with the previous February
2009 estimate. Indicated Resources have increased 18% from 89.2 million
pounds ("Mlbs") to 105.7Mlbs U3O8 and Inferred Resources have increased
40% from 37.4Mlbs to 52.4Mlbs U3O8. For the first time, part of the
resource estimate is within the Measured category which currently
totals 2.0Mlbs U3O8.

The updated July 2009 mineral resource estimate for the Etango Project,
comprising the Anomaly A and adjacent Oshiveli and Onkelo uranium
deposits, is summarised below at a range of cut-off grades. Bannerman
reports its resource estimates at a cut-off grade of 100ppm U3O8.



            Updated Mineral Resource Estimate - July 2009

                           MEASURED & INDICATED RESOURCES
-------------------------------------------------------------------
Lower                                                             
Cut-                                                              
 off              Tonnes           Grade             Contained U3O8
(ppm)                (Mt)      (ppm U3O8)         (Tonnes)   (Mlbs)
-------------------------------------------------------------------
100                235.0             208           48,900     107.7
-------------------------------------------------------------------
150                176.8             234           41,500      91.3
-------------------------------------------------------------------
200                105.7             275           29,000      64.0
-------------------------------------------------------------------

Lower                     INFERRED RESOURCES         
 Cut-
 off            Tonnes             Grade             Contained U3O8
 (ppm)             (Mt)        (ppm U3O8)          (Tonnes)   (Mlbs)
-------------------------------------------------------------------
-------------------------------------------------------------------
100              120.7               197            23,800     52.4
-------------------------------------------------------------------
150               89.7               221            19,800     43.6
-------------------------------------------------------------------
200               50.2               257            12,900     28.4
-------------------------------------------------------------------


Note: Figures have been rounded; bulk density of 2.63t/m3; Ordinary
Kriged estimate based on cut 3m (Anomaly A and Oshiveli) and 2m
(Onkelo) U3O8 composites; Block dimensions of 25mNS x 25mEW x 10mRL
(Anomaly A and Oshiveli) and 50mY x 30mX x 10mRL (Onkelo)


Updated Mineral Resource Estimate - July 2009
(Reported at a lower cut-off of 100ppm U3O8)


                          MEASURED & INDICATED RESOURCES
--------------------------------------------------------------------
Etango                 Tonnes          Grade          Contained U3O8
 Project                  (Mt)     (ppm U3O8)                  (Mlbs)
 Deposit
--------------------------------------------------------------------
Anomaly A               206.3            210                    95.3
--------------------------------------------------------------------
Oshiveli                 28.7            196                    12.4
--------------------------------------------------------------------
Onkelo                      -              -                       -
--------------------------------------------------------------------
Total                   235.0            208                   107.7
--------------------------------------------------------------------
Etango                             INFERRED RESOURCES
 Project
 Deposit           Tonnes            Grade          Contained U3O8
                      (Mt)       (ppm U3O8)                  (Mlbs)
------------------------------------------------------------------
Anomaly A            54.2              200                    23.9
------------------------------------------------------------------
Oshiveli             19.6              193                     8.3
------------------------------------------------------------------
Onkelo               47.0              195                    20.2
------------------------------------------------------------------
Total               120.8              197                    52.4
------------------------------------------------------------------


Note: Figures have been rounded; bulk density of 2.63t/m3; Ordinary
Kriged estimate based on cut 3m (Anomaly A and Oshiveli) and 2m
(Onkelo) U3O8 composites; Block dimensions of 25mNS x 25mEW x 10mRL
(Anomaly A and Oshiveli)and 50mY x 30mX x 10mRL (Onkelo).

The mineral resource estimate has been prepared for Bannerman in
accordance with the Australian JORC Code guidelines and Canadian
National Instrument 43-101 by Coffey Mining Pty Ltd, an independent
geological consultant to Bannerman.

The plan below shows the drilling completed to date within each of the
Anomaly A, Oshiveli and Onkelo deposits. (A map is available at the
following link: http://media3.marketwire.com/docs/Drill0720.pdf)
Drilling completed since the previous mineral resource estimate in
February 2009 is highlighted in blue.

The drillhole database used in the July 2009 resource estimate
comprises a total of approximately 200,000 metres in 685 reverse
circulation (RC) and 72 diamond drillholes. The strike length of the
resource model boundaries now totals approximately 5km.

Further details regarding the July 2009 Etango resource estimate,
including the specifics of the separate mineral resource estimates for
each of the deposits within the Etango Project, are available as an
attachment to this announcement on the website,
www.bannermanresources.com

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

Regulatory Disclosures:

The information in this news release that relates to the Mineral
Resources of the Anomaly A and Oshiveli deposits is based on a resource
estimate completed by Mr Neil Inwood and the information in this news
release that relates to the Mineral Resources of the Onkelo deposit is
based on a resource estimate completed by both Mr Iain Macfarlane and
Mr Neil Inwood who are full time employees of Coffey Mining Pty Ltd.
Messrs. Inwood and Macfarlane are Members of The Australasian Institute
of Mining and Metallurgy and have 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 a Competent
Person as defined in the 2004 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves",
and are independent consultants to Bannerman and Qualified Persons as
defined by Canadian National Instrument 43-101. Messrs Inwood and
Macfarlane consent to the inclusion in this news release of the matters
based on their information in the form and context in which it appears.

Bannerman has not completed feasibility studies on its projects.
Accordingly, there is no certainty that such projects will be
economically successful. Mineral resources that are not ore reserves do
not have demonstrated economic viability.

Certain disclosures in this report, including management's assessment
of Bannerman's plans and projects, constitute forward-looking
statements that are subject to numerous risks, uncertainties and other
factors relating to Bannerman's operation as a mineral development
company that may cause future results to differ materially from those
expressed or implied in such forward-looking statements. The following
are important factors that could cause Bannerman's actual results to
differ materially from those expressed or implied by such forward
looking statements: fluctuations in uranium prices and currency
exchange rates; uncertainties relating to interpretation of drill
results and the geology, continuity and grade of mineral deposits;
uncertainty of estimates of capital and operating costs, recovery
rates, production estimates and estimated economic return; general
market conditions; the uncertainty of future profitability; and the
uncertainty of access to additional capital. Full descriptions of these
risks can be found in Bannerman's various statutory reports, including
its Annual Information Form available on the SEDAR website,
www.sedar.com. Readers are cautioned not to place undue reliance on
forward-looking statements. Bannerman Resources Ltd expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.

CONTACT INFORMATION:

Bannerman Resources Limited
Perth, Western Australia
Len Jubber, Chief Executive Officer
+61 (0)8 9381 1436
admin@bannermanresources.com.au

or

Bannerman Resources Limited
Perth, Western Australia
Peter Kerr, Chief Financial Officer
+61 (0)8 9381 1436

or

Bannerman Resources Limited
Toronto, Ontario, Canada
Ann Gibbs, Investor Relations
+1 416 388 7247
ann@bannermanresources.com
www.bannermanresources.com

or

Professional Public Relations Pty Ltd
Perth, Western Australia
David Tasker, Media Relations
+61 (0)8 9388 0944
david.tasker@ppr.com.au

or

Professional Public Relations Pty Ltd
Perth, Western Australia
Jasmine Green, Media Relations
+61(0)433 112 936
jasmine.green@ppr.com.au

Associated File:
  http://www.bannermanresources.com/i/pdf/Press Releases/BMN-jul182009_NR.pdf
    1277 KB in size, approx. 3 minutes, 59 seconds to download at 56.6Kbps

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Copyright (c) 2009 BANNERMAN RESOURCES LIMITED (BAN)  All rights
reserved.  For more information visit our website at
http://www.bannermanresources.com/ or send
mailto:questions@bannermanresources.com
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