PERTH, AUSTRALIA — (Marketwire) — 07/29/11 — Bannerman Resources Limited (TSX: BAN)(ASX: BMN)(NSX: BMN) („Bannerman“ or the „Company“) is pleased to announce highlights from its June 2011 Quarterly Activities Report. The complete report is available on the Company-s website at and on SEDAR ().
During the June 2011 quarter, Bannerman commenced the Definitive Feasibility Study („DFS“) on the Etango Uranium Project and, following the end of the quarter, received a conditional acquisition proposal from Chinese conglomerate Sichuan Hanlong Group.
HIGHLIGHTS
Len Jubber, Chief Executive Officer
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 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 the Company-s website at .
Technical Disclosures
Certain disclosures in this report, including management-s assessment of Bannerman Resources Ltd-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 the Company-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 the Company-s various statutory reports, including its Annual Information Form available on the SEDAR website, 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.
The Company 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.
Contacts: Bannerman Resources Limited Len Jubber Chief Executive Officer +61 (0)8 9381 1436
Bannerman Resources Limited Peter Kerr Chief Financial Officer +61 (0)8 9381 1436
Bannerman Resources Limited Tim Haughan Investor Relations Manager +61 (0)8 9381 1436
Investor Relations Spyros Karellas +1 416 800 8921
Professional Public Relations – Media David Tasker +61 (0)433 112 936
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