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Corporate UpdateAustralian Uranium ConferenceFremantle, Western Australia

19 July 2012

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Technical Disclosures andForward-Looking Disclaimers

This presentation should be read in conjunction with the release by Bannerman Resources Limited dated 10 April 2012 and entitled Bannerman Reports PositiveDFS Results and Milestone Agreement with Namibian State-Owned Mining Company.

Certain disclosures in this presentation, including management's assessment of Bannerman Resources Ltds plans and projects, constitute forward-lookingstatements that are subject to numerous risks, uncertainties and other factors relating to Bannermans operation as a mineral development company that may causefuture results to differ materially from those expressed or implied in such forward-looking statements. The following are important factors that could cause theCompany's actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currencyexchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital andoperating costs, recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and theuncertainty of access to additional capital. Full descriptions of these risks can be found in the Companys various statutory reports, including its Annual InformationForm available on the SEDAR website, sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements. Bannerman Resources Ltdexpressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Mineral resources that are not ore reserves do not have demonstrated economic viability.

The information in this presentation that relates to the exploration results of the projects owned by Bannerman is based on information compiled by Mr MartinusPrinsloo, Exploration Superintendent of Bannerman. Mr Prinsloo is a Member and a Chartered Professional of the Australasian Institute of Mining and Metallurgy, aRecognised Professional Organisation by the Australasian Joint Ore Reserves Committee, who has sufficient experience relevant to the style of mineralisation andtypes of deposits under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2004 Edition of theAustralasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a Qualified Person for purposes of National Instrument43-101 of the Canadian Securities Administrators. Mr Prinsloo consents to the inclusion in this presentation of the matters based on his information in the form andcontext in which it appears.

The information in this presentation relating to the Mineral Resources of the Etango Project is based on a resource estimate compiled or reviewed by Mr Brian Wolfe,

a full time employee of Coffey Mining Pty Ltd. Mr Wolfe is a Member of the Australian Institute of Geoscientists and has sufficient experience relevant to the style ofmineralisation and types of deposits under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2004 Editionof the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and is an independent consultant to Bannerman and aQualified Person as defined by Canadian National Instrument 43-101. Mr Wolfe consents, and provides corporate consent for Coffey Mining Pty Ltd, to the inclusionin this presentation of the matters based on his information in the form and context in which it appears.

The information in this presentation relating to the Ore Reserves of the Etango Project is based on information compiled or reviewed by Mr Harry Warries, a full timeemployee of Coffey Mining Pty Ltd. Mr Warries is a Fellow of The Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the style ofmineralisation and types of deposits under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2004 Editionof the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, and is an independent consultant to Bannerman and aQualified Person as defined by Canadian National Instrument 43-101. Mr Warries consents, and provides corporate consent for Coffey Mining Pty Ltd, to theinclusion in this presentation of the matters based on his information in the form and context in which it appears.

2

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Contents

3

Resource definition (core) drilling

at the Etango site.

1. Investment Rationale2. Recent Developments3. Etango Uranium Project4. Upside Opportunities5. 2012 Action Plan

6. Summary

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Price source: Ux Consulting.

Upward Uranium Price Trend

Etango RC drilling4

1. Investment Rationale

Etango breakeven point (~US$61/lb)

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Demand - Strong New Reactor Build Outlook

5

Source: WNA May 2012

433 reactors operatingin 30 countries,

63 under construction,489 planned and proposed.

China has stated its intention toincrease from 12 GWe today to

60-70 GWe by 2020*.

India has recently reiterated itsplan to increase nuclear capacity

14-fold to

63 GWe by 2032.

*Source: The National Energy Administration ofChina, and various broker and press reports.

# reactors


0

20

40

60

80

100

120

140

160

180

200

220

Canada United

Kingdom

South

Korea

Ukraine France Japan India Russia USA China

Proposed

Planned

Under Construction

Operating Reactors

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Supply - Development Incentive Pricing

6


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Erongo Uranium Province, NamibiaExtensive uranium inventory and nearby infrastructure

7


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Erongo RegionTrade hub of Namibia

8


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Etango Uranium Project Definitive Feasibility Study (DFS) Completed on time and within budget.

Demonstrates Etango to be a viable global top 10 pure uranium project.

80% conversion of M&I Resources to Ore Reserves (119Mlbs U3O8) for minimum 16 year mine life.

Environmental approval just received.

Facilitates further engagement with potential development partners.

Recent Developments

9

2. Recent Developments

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Conditional binding Term Sheet.

Initial 5% interest and an

additional 5% option in the EtangoProject, based on market value.

Initial 5% delivers Bannermanapprox A$3 million cash.

Epangelo to fund its share offuture Etango Project expenditure.

Recent Developments

10

Partnership with Namibian State-Owned Mining Company

Continues to build positiverelationship with the Namibian

Government and enhances theattraction of Etango for potentialdevelopment partners.

2. Recent Developments

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Etango Site Layout

N

Licence boundary

5km

16 year mine life & extensionopportunities.

Produce 6-9 Mlbs U3O8 per year.

Ore Reserve 119 Mlbs U3

O8

Capex US$870 million.

Opex 1st five years US$41/lb U3O8.

32% operating margin at current

U3O8 long term contract price.

Key Features

3. Etango Uranium Project

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Bulk Open Pit Mining Operation

YEAR 16

Years 1-5 mining fleet: 32 haul trucks 15 drills 6 excavators 6 graders 6 bulldozers

1.2 billiontonnes (ore andwaste) minedover 16 years

1km

6km


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Conventional On-Off Heap Leach Operation


4 U id O i i

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Resource Expansion Potential

15

4. Upside Opportunities

Dec 2011

4 U id O t iti

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Increased Resource Utilisation

16

Ondjamba Deposit(Inferred resource)

Hyena Deposit(Inferred resource)

Etango Deposit

Open at depth

Resource zonesoutside pit design

1km

Total U3O8Mineral Resource comprises 149Mlbs M&I and 64Mlbs Inferred


4 U id O t iti

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Resource Expansion Potential

17


5km

N

Etango Project Area

Existing Etango resource(149Mlbs M&I and 64Mlbs Inferred)

Etango DeepsTarget (red)

Etango West

Target (blue)

Etango SouthTarget (green)

Ondjamba/HyenaAlready drilled (yellow)Additional target (green)

OmpoAlready drilled (yellow)Additional target (green)

First stage drillingcompleted, resultspending.

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2012 Action PlanTo position Etango to capture value from rising uranium prices

18

Prudent cash management.

Finalise and complete the Epangelo transaction.

Step up engagement with potential development partners.

Pursue Etango licencing.

5. Action Plan

6 S

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Positioned for investment re-rating

19

Source: Various broker research, Bannerman, July2012

$0.45$0.80

$0.40

$2.35

$4.40

-

US$0.50

US$1.00

US$1.50

US$2.00

US$2.50

US$3.00

US$3.50

US$4.00

US$4.50

US$5.00

Listed uranium companies - Enterprise values (US$)per attributable U3O8 resource pound

Exploration Pre-Feasibility Feasibility Developer Producer

Bannerman at US$0.20/lb

6. Summary

6 S

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Bannerman in Summary

20

6. Summary

Completed DFS.

Premier uranium location - Namibia.

Scale annual production and mine life.

Technical simplicity.

Resource expansion potential.

Environmental approval received.

Substantial investment leverage to positive uranium fundamentals.

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www.bannermanresources.comScale, Simplicity, Substance

APPENDIX

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Corporate SnapshotAs at July 17, 2012

Share price A$0.12

Shares - currently on issue 302M

Shares - fully diluted (for options, rights, existing convertible note & contingent issues) 355 M

Market capitalisation (undiluted) A$36M / US$37M

Average daily traded volume in last 12 months ~1.0M shares/day

Cash on hand (as at March 31, 2012) A$13.2 million

Project ownership: 80% of the Etango Uranium Project, Namibia.

Institutional ownership ~31%

Board/management ~13%

North America

Australia

Europe

Namibia

Asia

Shareholder distribution

22

APPENDIX

APPENDIX

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NamibiaPremier uranium mining jurisdiction

WindhoekSwakopmundWalvis Bay

Stable democratic government.

5th largest uranium producingcountry ambitions to grow.

Political and social supportof uranium mining.

35 years of uranium mining Rio Tinto, Paladin & Areva.

Etango

UraniumProject

23

APPENDIX

APPENDIX

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24

Early Learner Assistance Programin local schools

Pioneered cooperation withtourism bodies including the

Coastal Tourism Association ofNamibia

Radiation safety initiatives,

including the first RadiationManagement Plan

Environmental rehabilitationof all drill sites

Making a Real Difference

Assistance with the creation, growthand training of local businesses

Support of the ErongoDevelopment Foundation Co-sponsor of the annualHospitality Association of Namibiaconference

Training andeducation initiatives

APPENDIX

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APPENDIX

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26

DFS Highlights

Mine life Minimum 16 years with defined extension opportunities

Mining & processing Conventional open pit mining; three-stage crushing; heap leaching, SX

Waste/ore strip ratio 3.3 : 1

Plant throughput 20 million tonnes of ore per year

Production (annual) 7-9 Mlbs U3O8per year in first five years, thereafter6-8 Mlbs U3O8/year

Production (life of mine) 104 Mlbs U3O8with defined extension opportunities

Pre-production capital cost US$870 million

Sustaining capital Funded from operating cashflow - US$381 over the life of mine

Operating cost US$41/lb in years 1-5; US$46/lb U3O8 over the life of mine

Operating margin 32% for years 1-5 at current LT contract price of US$60/lb U3O846% for years 1-5 at base case price of US$75/lb U3O8

Payback (post-production) 6 years

Breakeven uranium price US$61/lb U3O8(to cover all opex and capex)

APPENDIX

APPENDIX

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Conventional Process Flowsheet

27

APPENDIX

APPENDIX

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Etango DFS Pre-Production Capital Costs

28

APPENDIX

DFS Pre-Production Capital Cost Estimate (April 2012)US$

millionMining fleet, establishment & pre-stripping 127

Process plant 354

Site infrastructure 91

External infrastructure (power, water, rail, road and port) 47

EPCM costs 72

Accuracy provision 54

First fills and spares 29

Owners costs (personnel, housing, training, insurance etc) 40

Other (camp facilities, mobilisation and demobilisation andtemporary services)

56

Total pre-production capital expenditure 870

APPENDIX

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APPENDIX

DFS Cash Operating Cost Estimate (April 2012)First 5Years

Life-of-Mine

Mining:- US$/tonne mined- US$/tonne ore

1.727.87

1.978.55

Processing (US$/tonne ore):Consumables, labour, maintenance & other 3.37 3.41

Sulphuric acid 1.78 1.79Power 1.29 1.31Water 0.64 0.65

7.08 7.15

General & administration ( US$/tonne ore): 1.26 1.23

Total cash operating costs (US$/tonne ore) 16.21 16.93

Total cash operating costs (US$/lb U3O8 produced) 40.85 45.71

Etango DFS Cash Operating Costs

1 bmn

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