Quarterly Activities Report For the Period Ended 3

PERTH, Australia, Oct. 17, 2017 (GLOBE NEWSWIRE) -- Bannerman Resources Limited (ASX:BMN) (NSX:BMN) (“Bannerman” or “the Company”) is pleased to report on a productive September quarter.

HIGHLIGHTS

• Etango’s long term tenure secured by Retention Licence -  Granted 5 year extendable retention licence -  Tenure secured over entire future Etango mine site and two satellite deposits -  Ideal tenure for flexibility and moving to mining licence when uranium price recovers
• DFS Update progressing well -   Targeting substantial capital and operating cost improvements -  Processing Optimisation Study near completion

Bannerman’s Chief Executive Officer, Mr Brandon Munro, said, “The Bannerman team achieved a key tenure milestone at Etango during the September quarter, with the award of a Retention Licence over the Etango Project.  We also added meaningful value to the Etango Project through cost-effective progression of the DFS Update.  Bannerman continues to conservatively manage its capital and remains exceptionally well positioned for the expected correction in current, depressed uranium prices.”

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

Brandon Munro Chief Executive Officer 17 October 2017

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About Bannerman - Bannerman Resources Limited is an ASX and NSX listed exploration and development company with uranium interests in Namibia, a southern African country which is a premier uranium mining jurisdiction.  Bannerman’s principal asset is its 95%-owned Etango Project situated near Rio Tinto’s Rössing uranium mine, Paladin’s Langer Heinrich uranium mine and CGNPC’s Husab uranium mine. A definitive feasibility study has confirmed the technical, environmental and financial (at consensus long term uranium prices) viability of a large open pit and heap leach operation at one of the world’s largest undeveloped uranium deposits. From 2015 to 2017, Bannerman conducted a large scale heap leach demonstration program to provide further assurance to financing parties, generate process information for the detailed engineering design phase and build and enhance internal capability. More information is available on Bannerman’s website at www.bannermanresources.com .