Bannerman Resources Increases Overall Resource Estimate by 48%

PERTH, AUSTRALIA, Aug 05 (MARKET WIRE) --
Bannerman Resources Ltd (TSX: BAN)(ASX: BMN) ("Bannerman" or the
"Company"), an Australian-based uranium exploration and mine development
company, is very pleased to report a significant increase in total
mineral resources at the Goanikontes, Anomaly A project. The new mineral
resource estimate using a cut-off grade of 100 ppm U3O8, now consists of
66.9 million pounds of Indicated Mineral Resource (January 2008 reported
12.9 Mlbs.), and 39.7 million pounds of Inferred Mineral Resources
(January 2008 reported 59.3 Mlbs.). The deposit remains open to the
North, South, West and down-dip. The new NI 43-101 mineral resource
estimates and models were completed by Neil Inwood of Coffey Mining Ltd,
an independent consultant to Bannerman Resources and a Qualified Person
as defined by NI 43-101.

"We are delighted with this upgrade to the Anomaly A resource which now
exceeds the original exploration target of 100 million pounds and still
offers considerable scope for further resource expansion over the coming
year," says Peter Batten, Managing Director of Bannerman Resources Ltd.
"We are also pleased to see that there are very large amounts of metal
present at the higher cut-offs. This indicates a strong potential for the
project to sustain much higher head-grades over many years. This could
have a significant impact upon production rates and the overall revenue
generated by this first open pit."

UPDATED RESOURCE ESTIMATES - GOANIKONTES ANOMALY A

-------------------------------------------------------------------------
Indicated Resources
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Low Cut Tonnes Grade Metal (U3O8)
(U3O8 ppm) t ppm tonnes 1,000 lbs
-------------------------------------------------------------------------
-------------------------------------------------------------------------
100 145,000,000 209 30,300 66,900,000
-------------------------------------------------------------------------
150 112,300,000 233 26,200 57,700,000
-------------------------------------------------------------------------
200 69,400,000 269 18,700 41,200,000
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Inferred Resources
-------------------------------------------------------------------------
Low Cut Tonnes Grade Metal (U3O8)
(U3O8 ppm) t ppm tonnes 1,000 lbs
-------------------------------------------------------------------------
-------------------------------------------------------------------------
100 91,600,000 197 18,000 39,700,000
-------------------------------------------------------------------------
150 65,500,000 224 14,600 32,300,000
-------------------------------------------------------------------------
200 34,500,000 268 9,300 20,400,000
-------------------------------------------------------------------------

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Note: Figures have been rounded
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The database used in the estimate includes results from 456 RC and 49
diamond drill holes totalling 140,558m. Only drillholes drilled by
Bannerman have been used in the estimate.

The drillholes were drilled typically at 60 degrees to the east (UTM
grid) with a drill spacing ranging from 50m by 50m to 50m by 100m (please
see drill plan on Company website www.bannermanresources.com). A
combination of chemical assaying (30,011 samples - 97% of the total) and
factored radiometric data (947 1m composites) was used and a density
value of 2.62t/m3 was used for the mineralised zones. This value was
chosen after analysis of 3,427 density determinations by water immersion
and calliper methods.

The resource was reported using a range of lower cuts. For instance, the
100ppm lower cut is the same as that used by Rossing another alaskite
hosted uranium deposit. Block dimensions used were 50m by 25m by 10m with
sub-cells to 5.25m by 6.25m by 1.25m. The grade was estimated using
Ordinary Kriging on cut 3m composite samples.

Mineralised zones dip from -30 degrees to -40 degrees to the west with a
northerly trend. Individual zones were modelled from 150m to 1,700m long.
Figure 3 shows a typical sectional interpretation. Mineralised zones
which did not have more than two drillhole intersections on two
consecutive sections were typically not estimated leaving further upside
to discover more resources.

Significant exploration potential still apparent at Goanikontes

Resource drilling has largely been completed at Anomaly A, however, a
considerable scope remains to further expand the resource at depth and
along strike to the north and south where mineralisation has yet to be
closed off. Additionally, step out holes to the west, to test the depth
extensions of the ore body, encountered several previously unknown
mineralised alaskites in the hanging wall of the known mineralisation.
These may represent the southern continuation of the outcropping Oshiveli
mineralised alaskites to the north giving even more scope to discover
further mineralisation. The drill rigs have been moved for the interim
onto the expanded exploration programme and are currently drilling at the
Oshiveli, Rossingberg and Ombuga prospects.

Aside from the potential of the northern and western areas, the
extensions to the south around the nose of the Palmenhorst Dome towards
the outcropping Ompo alaskites are highly prospective. This zone extends
for approximately 8km and lies beneath very shallow sand cover. The
Company intends to drill this zone in the current quarter.

The resource estimate announced today for Anomaly A has been identified
from drilling over a strike length of only 2.5 kms. The historic drilling
at Oshiveli and Onkelo and the Company's recent drilling has shown the
known mineralisation around the Palmenhorst Dome to extend for more than
double this strike length to the north.

Given the extensive strike extent of the Anomaly A to Ompo trend in
excess of 11 kms, with known subcropping radioactive alaskite zones, in
addition to the several other 1 to 6km alaskite prospects being tested
the Company is targeting a potential 200 to 400 Mt of mineralisation from
these areas at grades of 200 ppm to 300 ppm U3O8 to add to the +100Mlbs
already defined at Anomaly A. The potential quantity and grade is
conceptual and insufficient exploration has been performed to define a
Resource for the additional target at this time. It is uncertain whether
further exploration will result in a resource.

The Anomaly A resource allows the company to progress the Definitive
Feasibility Study to the stage of optimisation of the resource with the
intention of producing a reserve statement.

The completion of the resource drilling at Anomaly A is the realisation
of a further milestone in the rapid progress the Company is making
towards becoming a uranium producer in 2011.

The Anomaly A resource is proving to be an exceptional project providing
the scale required to enter the ranks of the tier one global Uranium
producers with the potential to sustain production for a considerable
period of time.

About Bannerman

Bannerman Resources Limited is an emerging uranium producer with
interests in two properties in Namibia, an African country considered to
be a premier mining jurisdiction. Its principal and most significant
asset is its 80% interest in the Goanikontes project situated on a trend
southwest of the Rio Tinto Rossing uranium mine.

Bannerman is focused on accelerating the development of a very large,
bulk-tonnage, uranium deposit at Goanikontes, Namibia. A mine plan is
contemplating low cost uranium production using proven processing
techniques. The scoping study completed in December 2007 describes robust
project economics using conservative uranium prices. A definitive
feasibility study is currently underway by GRD Minproc. The company
expects to bring its starter asset at the Goanikontes deposit into
production by 2011.

The area offers tremendous exploration potential. Exploration of the
several other identified targets away from Anomaly A has commenced and
will continue through the development stages of the Goanikontes starter
asset.

The information in this report that relates to the Exploration Results of
the projects owned by Bannerman Resources Ltd is based on information
compiled by Mr Peter Batten, who is a Member of The Australasian
Institute of Mining and Metallurgy and who has sufficient experience
relevant to the style of mineralisation and types of deposits under
consideration and to the activity which is being undertaken to qualify as
Competent Person as defined in the 2004 Edition of the 'Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Mr Batten consents to the inclusion in the report of the
matters based on his information in the form and context in which it
appears.

The information in this report that relates to the Mineral Resources at
the Anomaly A Deposit is based on a resource estimate completed by Mr
Neil Inwood who is a full time employee of Coffey Mining Ltd. Mr Inwood
is a Member of The Australasian Institute of Mining and Metallurgy and
has sufficient experience relevant to the style of mineralisation and
types of deposits under consideration and to the activity which is being
undertaken to qualify as Competent Person as defined in the 2004 Edition
of the 'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr Inwood consents to the inclusion in the
report of the matters based on his information in the form and context in
which it appears. Forward-Looking Statement

This press release contains certain forward-looking information about the
Company that is intended to be covered by the safe harbour for
"forward-looking statements" provided by the Private Securities
Litigation Reform Act of 1995, as amended. Forward-looking statements are
statements that are not historical facts. These statements include, but
are not limited to statements regarding future production, resources or
reserves and exploration results. All of such statements are subject to
certain risks and uncertainties, many of which are difficult to predict
and generally beyond the control of the Company, that could cause actual
results to differ materially from those expressed in, or implied or
projected by, the forward-looking information and statements. The reader
is cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date hereof, and we do not undertake
any obligation to revise and disseminate forward-looking statements to
reflect events or circumstances after the date hereof, or to reflect the
occurrence of or non-occurrence of any events.

Please visit the Company website at www.bannermanresources.com

Contacts:
Bannerman Resources Ltd.
Peter Batten
Managing Director
+61 (08) 9381 1436
Email: peter@bannermanresources.com.au

North America:
Bannerman Resources Ltd.
Ann Gibbs, Investor Relations
(416) 388-7247
Email: ann@bannermanresources.com
Website: www.bannermanresources.com

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