RETRANSMISSION

Bannerman Initiates Share Purchase Plan - Seite 2

However, as highlighted previously, the growth in the nuclear industry is facing a contraction in supply, driven by unprofitable production and lack of incentive to continue investment in project developments at the current low uranium price. Existing production is supported by term contracts entered into at previous higher prices and hence, as these are fulfilled, further pressure on supply will eventuate.

Bannerman is committed to minimising shareholder dilution while we continue to enhance Etango's early mover advantage by operating our Heap Leach Demonstration Plant in the current year. To that end the Board has decided to implement a Share Purchase Plan to raise up to A$2 million to fund the operation of the Demonstration Plant and for general corporate working capital purposes. The Offer opens on 11 March 2015 and closes on 2 April 2015. If the total value of applications is more than A$2 million, Bannerman will scale back applications. If the Offer is undersubscribed, Bannerman reserves the right to place the shortfall under the Company's current share issue capacity under ASX Listing Rules 7.1 and 7.1A.

The Share Purchase Plan Offer sets out the terms and conditions associated with the opportunity for eligible shareholders to subscribe for shares at A$0.052 per share without incurring brokerage or other transaction costs. Eligible Directors will fully participate in the offer.

Bannerman remains strongly placed with the important advantages of a completed DFS, environmental approvals and now the imminent commissioning of the Heap Leach Demonstration Plant. Importantly we also have the ongoing support of Resource Capital Funds as a significant strategic financial investor to enable us to capitalise on our early mover advantage.

Yours sincerely,

Ronnie Beevor

About Bannerman - Bannerman Resources Limited is an ASX, TSX 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 80%-owned Etango Project situated near Rio Tinto's Rössing uranium mine, Paladin's Langer Heinrich uranium mine and CGNPC's Husab uranium mine currently under construction. 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. In 2015, Bannerman is conducting 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.