Bannerman Resources Etango’s long term tenure secured by Retention Licence

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| Source: BANNERMAN RESOURCES LIMITED

PERTH, Australia, Oct. 02, 2017 (GLOBE NEWSWIRE) -- Bannerman Resources Limited (ASX:BMN) (NSX:BMN) (“Bannerman” or the “Company”) is pleased to announce that the Namibian Ministry of Mines and Energy has granted a Mineral Deposit Retention Licence with a five year extendable term (Retention Licence) over Bannerman’s 95% owned Etango Uranium Project. 

Bannerman’s Chief Executive Officer, Mr Brandon Munro, said, “A Retention Licence is the ideal tenure for the highly advanced Etango project. It ensures this world-class project can move quickly to a mining licence when the uranium price recovers and gives us maximum flexibility in the meantime.  We are grateful for the continued support Bannerman receives from the Namibian government, the grant of this Retention Licence being the latest example.”  

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

For further information please contact: 

Brandon Munro
Chief Executive Officer
Perth, Western Australia
Tel: +61 (8) 9381 1436
info@bannermanresources.com.au 
Robert Dalton
Company Secretary
Perth, Western Australia
Tel: +61 (8) 9381 1436
info@bannermanresources.com.au
Michael Vaughan (Media)
Fivemark Partners
Perth, Western Australia
Tel: +61 422 602 720
Michael.vaughan@fivemark.com.au

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 2015-2017, 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.