commences scoping study at uranium project

Bannerman commences scoping study at uranium project
14:46, Tuesday, 8 May 2007

Sydney - Tuesday - May 8: (RWE Australian Business News) -
Bannerman Resources Ltd (ASX code: BMN) has confirmed its intention to
expedite studies into the development of its Goanikontes Uranium Project
in Namibia following the confirmation of an interim inferred resource
above company expectations.
Bannerman has engaged the services of Coffey Partners to
undertake a scoping study at the project, which commenced yesterday.
Independent Metallurgical Operations has also been engaged to
conduct studies into the metallurgy and processing options associated
with the project.
The scoping study is expected to take between eight and 12 weeks
to complete.
It has been expedited following the confirmation of an interim
inferred resource of 27 million lbs (12,200 tonnes) U3O8 which is
contained within 55Mt, at a grade of 219ppm U3O8.

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Managing director Mr Peter Batten said he believed the interim
resource provided the catalyst for Bannerman to commence studies
associated with development of the project.
"From our recent drilling we know this resource only represents
about 25 to 30 per cent of this deposit, and that the grade appears to
increase at depth.
"The scoping study will give us an indication of the numbers
associated with some of the key aspects of any likely mine," he said.
Following the scoping study, the company plans to commence a
full feasibility study in early 2007, once the results of the current
and future drilling campaign allow it to increase its resource.