RETRANSMISSION

Bannerman Initiates Share Purchase Plan

PERTH, AUSTRALIA--(Marketwired - March 6, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Bannerman Resources Limited (ASX:BMN)(TSX:BAN)(NAMIBIAN:BMN) ("Bannerman") is pleased to announce that it has initiated a Share Purchase Plan under Australian law to provide eligible shareholders with the opportunity to subscribe for new Bannerman shares to raise maximum gross proceeds of up to A$2 million. Full details are available on Bannerman's website at www.bannermanresources.com.au and on SEDAR (www.sedar.com).

Dear Fellow Shareholder

Bannerman Initiates Share Purchase Plan

I am pleased to report that since my letter to shareholders in the 2014 Annual Report we have made significant progress with the construction of the Etango Heap Leach Demonstration Plant and we are on track to deliver first test results in the upcoming June Quarter. Recent announcements have highlighted the progress made since construction commenced in October 2014. Our plan to demonstrate the acid heap leach concept encapsulated in the Etango DFS is increasingly gaining recognition from key stakeholders, as the uranium market continues to strengthen.

The uranium price has found support at around US$40 per lb U₃O₈ with increasing spot and term trading activity. It is noteworthy that the term trading volume in 2014 was up 4 fold on that in 2013. It is anticipated that term trading activity will continue to increase and therefore place upward pressure on the uranium price, as utilities fill uncovered positions leading up to 2020.

The 48 idle Japanese reactors have adversely impacted on the demand for uranium, albeit that 6 reactors, out of 20 applications, have now received approval of their safety enhancement plans. The restart of the reactors remains subject to implementing these changes, as well as gaining local authority approval. The first restarts are expected in the June 2015 quarter.

The debate on climate change has gained renewed focus, with the recent agreement between the USA and China expected to provide further momentum towards increasing the use of clean energy sources. Since November 2014 a further 3 reactors have been commissioned and globally there are now 438 nuclear reactors operable, 69 under construction and 184 in the planning stage. A further 312 are proposed. It is noteworthy that currently there are more reactors under construction and planned than prior to Fukushima. The Chinese nuclear program is accelerating with 23 reactors in operation, 26 under construction, 64 in the planning stage and a further 123 proposed.