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Additional Information

Market:	ASX TSX
Sector:	General Mining
EPIC:	BMN
Latest Price:	0.14 (0.00%)
52-week High:	0.48
52-week Low:	0.14
Market Cap:	41.94M

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Bannerman Resources

Bannerman Resources (ASX:BMN;TSX:BAN)) is an Australian-based uranium exploration and mine development company with interests in two properties in Namibia and a number of properties in Botswana and Australia.

Its principal and most significant asset is its 80% interest in the Etango Anomaly A Prospect in the Etango Exclusive Prospecting Licence Area.

The Etango Project is one of the world's largest undeveloped uranium deposits, boasting a total resource of 212 million pounds (76,700 tonnes) of uranium oxide (U3O8).

Encouraging uranium intercepts for Bannerman Resources in Namibia

Thursday, December 10, 2009

Perth-based Bannerman Resources (ASX: BMN, TSX: BAN, NSX: BMN) reported further encouraging infill and exploration drilling results from within its Etango Uranium Project in Namibia, southwestern Africa.

Drilling activities since that time have concentrated at the Hyena, Oshiveli, Onkelo and Ondjamba Prospects within the Etango Project.

Len Jubber, chief executive officer said: “As hoped, further drilling outside of the initial pit defined at Anomaly A has indicated that the Etango Project has the potential to expand and continues to prove itself as a world-class project."

"Bannerman currently has five drilling rigs on site undertaking exploration and resource definition drilling programs.”

The latest chemical assay results are those received from drilling completed since Bannerman’s last drilling update on October 22, 2009.

Strong infill drilling results continue to come from Oshiveli and Onkelo which support previous higher grade and near-surface intersections.

From the Hyena prospect, mineralisation comprises two parallel zones which are located between 1-2km south of the Anomaly A Prospect.

A number of new anomalous intersections have been returned from Hyena from further reverse circulation (RC) drilling in this area including:

-17m @ 605ppm U308 from 139m depth including 3m @ 3,060ppm U308 from 139m depth and 2m @ 792ppm U308 from 171m depth; 25m @ 410ppm U308 from 93m depth, including 5m @ 448ppm U308 from 95m depth including 6m @ 1,038ppm U308 from 109m depth.

At the Onkelo prospect, drilling of a further two infill diamond drillholes has continued to intersect multiple higher grade lodes in this area of the deposit including: 33.5m @ 183ppm U308 from 94.2m depth, 3m @ 464ppm U308 from 50m depth.

While at the Oshiveli prospect, drilling of a further four infill diamond drillholes and nine infill RC drillholes has returned above-average resource grade mineralisation, including the following intersections:

- 62.5m @ 172ppm U308 from 76.6m depth, 17.1m @ 317ppm U308 from 192.6m depth including 5.6m @ 450ppm U308 from 195.2m depth including 5.7m @ 430ppm U308 from 205m depth.

Drilling at the Hyena and Ondjamba Prospects represents both near project extension as well as sterilisation drilling in the southern and eastern portions of the Etango Project licence area. The drilling at Oshiveli and Onkelo targeted the conversion of Inferred to Indicated resources as well as closing the gap between the two areas.

Bannerman has to date completed over 275,000 metres of drilling within the Etango Project.

Drilling activities will be temporarily halted during the Christmas holiday period.

Further infill diamond drilling at Oshiveli and follow-up regional exploration and sterilisation RC drilling programs for the proposed plant and waste rock site areas will re-commence in mid January 2010.

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