Bannerman Announces Quarterly Activities Report

PERTH, AUSTRALIA--(Marketwired - July 29, 2015) - Bannerman Resources Limited (ASX:BMN)(TSX:BAN)(NAMIBIAN:BMN) ("Bannerman") is pleased to announce highlights from its June 2015 Quarterly Activities Report released today. The full report is available on Bannerman's website at www.bannermanresources.com and on SEDAR (www.sedar.com).

During the June 2015 quarter, Bannerman Resources Limited (ASX:BMN)(TSX:BAN)(NAMIBIAN:BMN) achieved a significant milestone, notably the successful commissioning of the Etango Heap Leach Demonstration Plant and completion of Phase 1 of the Demonstration Plant Program.

HIGHLIGHTS

• Phase 1 results strongly support the assumptions and projections incorporated in the Definitive Feasibility Study ("DFS").
  
  
• Post quarter end, commenced with Phase 2 of the Demonstration Plant Program.
  
  
• Successfully completed A$2 million capital raising.
  
  
• Cash balance as at 30 June 2015 was A$2.3 million.

On 15 July 2015 Bannerman announced the following positive results from Phase 1 of the Etango Heap Leach Demonstration Plant Program:

• Fast, high and uniform leach extraction on a 121.6 tonne sample - within 20 days average total leach extraction of 94% for the four cribs (a type of testing not previously conducted) and 93% for the columns (similar to that achieved in previous laboratory testing).
  
  
• Low sulphuric acid consumption - on average less than 16kg/tonne (compared with DFS projection of 18kg/tonne).
  
  
• Geotechnical stability - visual observations during the unloading of the cribs confirmed the uniform percolation through the material, integrity of the agglomerate and geotechnical stability of the heap.
  
  
• The similar performance of the four larger scale (30 tonne sample) cribs to the eight (200kg sample) columns may be an indication of potential upside related to the projection of the previous column testing results to the full scale heap leach pad performance in the DFS.

Bannerman's Chief Executive Officer, Len Jubber, said:

"The Company has made significant progress during the quarter with the successful commissioning of the Heap Leach Demonstration Plant and the announcement of the exciting results from Phase 1 which strongly support the assumptions and projections incorporated in the DFS. Post quarter end we commenced Phase 2 which aims to replicate the results in Phase 1."