Africa Down Under Conference Perth, Western Australia, 29 August 2012

Technical Disclosures and

Forward-Looking Disclaimers

This presentation should be read in conjunction with the release by Bannerman Resources Limited dated 10 April 2012 and entitled “Bannerman Reports Positive

DFS Results and Milestone Agreement with Namibian State-Owned Mining Company”.

Certain disclosures in this presentation, including management's assessment of Bannerman Resources Ltd’s plans and projects, constitute forward-looking

statements that are subject to numerous risks, uncertainties and other factors relating to Bannerman’s operation as a mineral development company that may cause

future results to differ materially from those expressed or implied in such forward-looking statements. The following are important factors that could cause the

Company's actual results to differ materially from those expressed or implied by such forward looking statements: fluctuations in uranium prices and currency

exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and

operating costs, recovery rates, production estimates and estimated economic return; general market conditions; the uncertainty of future profitability; and the

uncertainty of access to additional capital. Full descriptions of these risks can be found in the Company’s various statutory reports, including its Annual Information

Form available on the SEDAR website, sedar.com. Readers are cautioned not to place undue reliance on forward-looking statements. Bannerman Resources Ltd

expressly 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 Martinus

Prinsloo, Exploration Superintendent of Bannerman. Mr Prinsloo is a Member and a Chartered Professional of the Australasian Institute of Mining and Metallurgy, a

Recognised Professional Organisation by the Australasian Joint Ore Reserves Committee, 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 a Competent Person as defined in the 2004 Edition of the

“Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and as a Qualified Person for purposes of National Instrument

43-101 of the Canadian Securities Administrators. Mr Prinsloo consents to the inclusion in this presentation of the matters based on his information in the form and

context 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 of

mineralisation 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 Edition

of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”, and is an independent consultant to Bannerman and a

Qualified Person as defined by Canadian National Instrument 43-101. Mr Wolfe consents, and provides corporate consent for Coffey Mining Pty Ltd, to the inclusion

in 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 time

employee 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 of

mineralisation 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 Edition

of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”, and is an independent consultant to Bannerman and a

Qualified Person as defined by Canadian National Instrument 43-101. Mr Warries consents, and provides corporate consent for Coffey Mining Pty Ltd, to the

inclusion in this presentation of the matters based on his information in the form and context in which it appears.

2

Contents

3

Resource definition (core) drilling

at the Etango site.

1. Uranium Market

2. Why Namibia ?

3. Etango Uranium Project

4. Summary

Demand - Strong New Reactor Build Outlook

4

Source: WNA May 2012

433 reactors operating

in 30 countries,

63 under construction,

489 planned and proposed.

China has stated its intention to

increase from 12 GWe today to

60-70 GWe by 2020*.

India has recently reiterated its

plan to increase nuclear capacity

14-fold to

63 GWe by 2032.

*Source: The National Energy Administration of

China, and various broker and press reports.

# reactors

0

20

40

60

80

100

120

140

160

180

200

220

Canada UnitedKingdom

SouthKorea

Ukraine France Japan India Russia USA China

Proposed

Planned

Under Construction

Operating Reactors

1. Uranium Market

Increasing Activity

5

Demand

• Re-start of first two Japanese reactors – more re-starts expected.

• China – in principle approval of new nuclear reactor safety plan.

• UAE US$3 billion contract covering 15 years of fuel supply for first nuclear plant.

• Paladin - long-term off-take contract for 13.73 Mlbs U3O8.

• Saudi Arabia and Turkey indicating significant nuclear growth plans.

Supply

• Olympic Dam (BHP Billiton) deferral.

• Project deferral due to ‘inadequate’ uranium price - Kintyre (Cameco).

• Cameco acquisition of Yeelirrie.

1. Uranium Market

Supply - Development Incentive Pricing Feasibility Study Cost Creep

6

*Based on 16 uranium projects analysed by Bannerman

1. Uranium Market

Price source: Ux Consulting.

Upward Uranium Price Trend

Etango RC drilling 7

1. Uranium Market

Namibia Premier uranium mining jurisdiction

Windhoek Swakopmund Walvis Bay

Stable democratic government.

Political and social support of

uranium mining.

5th largest uranium producing

country – ambitions to grow.

35 years of uranium mining –

Rio Tinto & Paladin.

Etango

Uranium

Project

8

2. Why Namibia ?

9

1. Investment Rationale

CGNPC

Erongo Uranium Province Extensive uranium inventory and nearby infrastructure

2. Why Namibia ?

9

Erongo Region Emerging industrial & trade hub

10

2. Why Namibia ?

Namibian Uranium Regulatory Framework

11

Source: Namibian Chamber of Mines Uranium Institute

2. Why Namibia ?

Uranium Stewardship

12

Occupational Medical Facility

2. Why Namibia ?

Information Training

Etango Definitive Feasibility Study

13

3. Etango Uranium Project

• 4 years resource definition, metallurgical testing, feasibility study & environmental

impact assessment.

• Straightforward mining & processing model.

• Completed in April 2012.

14

Etango Site Layout

N

Licence boundary

5km

16 year mine life & extension

opportunities.

Produce 6-9 Mlbs U3O8 per year.

Ore Reserve 119 Mlbs U3O8.

Capex US$870 million.

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

33% operating margin for first 5

years at current U3O8 long-term

contract price (US$61.50/lb).

DFS Features

3. Etango Uranium Project

15

Simple Open Pit Mining

YEAR 16

1km

6km

3. Etango Uranium Project

16

Conventional Sulphuric Acid Heap Leaching

50 day on–off

cycle

3. Etango Uranium Project

Resource Utilisation Upside

17

Ondjamba Deposit

(Inferred resource)

Hyena Deposit

(Inferred resource)

Etango Deposit

Open at depth

Resource zones

outside pit design

1km

Total U3O8 Mineral Resource comprises 149Mlbs M&I and 64Mlbs Inferred

3. Etango Uranium Project

Resource Expansion Upside

18

5km

N

Etango Project Area

Existing Etango resource

(149Mlbs M&I and 64Mlbs

Inferred)

Etango Deeps Target (red)

Etango West Target (blue)

Etango South Target (green)

Ondjamba/Hyena Already drilled (yellow)

Additional target (green)

Ompo Already drilled (yellow)

Additional target (green)

3. Etango Uranium Project

Global Top 10 Uranium Project

19

0

50

100

150

200

250

300

350

246

134 119

53

McC

arth

ur

Riv

er

Cam

eco

/Are

va

JORC/43-101 Compliant Reserves H

usa

b

Ext

ract

/CG

NP

C

Cig

ar L

ake

Cam

eco

/Are

va

Ran

ger

/Jab

iluka

E

RA

Inka

i C

amec

o/K

azat

om

pro

m

Lan

ger

Hei

nri

ch

Pal

adin

Rö

ssin

g

Rio

Tin

to

Eta

ng

o

Ban

ner

man

Val

enci

a F

ors

ys

Do

rno

d

AR

MZ

Inka

i So

uth

U

ran

ium

On

e

335 320

209

135 119

61

34

Source: Bannerman & Versant Partners, August 2012.

Reflects 100% of projects.

4. Summary

Highly leveraged to the uranium price

20

0%

100%

200%

300%

400%

500%

600%

75 80 85 90 95 100

Relative % change in pre-tax NPV against the U3O8 price

33%

% c

han

ge

in p

re-t

ax N

PV

US$ U3O8 / lb

Period Spot Price Move

Bannerman Share Price Move

Apr 05 – Jun 07 +490 % +7,900 %

Jun 10 – Feb 11 +80 % +240 %

Historical share price movement v U3O8 spot price

500% Bannerman’s

enterprise value per

attributable U3O8

resource pound

is US$0.21

Cameco acquired

BHPB’s Yeelirrie

Project at

approximately

US$3.40/lb

4. Summary

Well positioned in a premier location

21

1. Bannerman has:

a completed DFS on the Etango Project;

the necessary environmental clearances;

a mining licence application pending with the Namibian Ministry of Mines &

Energy;

access to established infrastructure; and

A$9.6 million cash as at end June 2012.

2. Bannerman is:

pursuing value add transactions with potential local and international

development partners;

open to new opportunities that can leverage from our current asset and skill

base; and

minimising expenditure now that DFS is complete.

4. Summary

www.bannermanresources.com Scale, Simplicity, Substance

Corporate Snapshot As at August 28, 2012

Share price A$0.11

Shares - currently on issue 302M

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

Market capitalisation (undiluted) A$33M / US$34M

Average daily traded volume in last 12 months ~700,000

shares/day

Cash on hand (as at June 30, 2012) A$9.6 million

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

Institutional ownership ~31%

Board/management ~13%

North America

Australia

Europe

Namibia

Asia

Shareholder distribution

23

APPENDIX

Etango Project Mineral Resource and Ore

Reserve Estimates

24

Notes:

1. Figures may not add due to rounding.

2. Bannerman holds an 80% interest in the Etango Project through its Namibian subsidiary. All details reported are for 100% of the Project.

3. Mineral Resources are reported at a cut-off grade of 100ppm U3O8 and are inclusive of Ore Reserves.

4. Ordinary Kriged Resource estimate based upon 3m cut composites; bulk density of 2.64t/m3; and panel dimensions of 25mNS by 25mEW by 10mRL.

5. The Ore Reserve was estimated with a modelled mining loss of 2.6% of metal, mining dilution of 4.9% of the total ore tonnes, a cut-off grade of 70ppm

U3O8, a processing recovery of 84.5%, a metal price of US$75/lb U3O8 and the DFS cost estimates.

6. Mineral Resources which are not Ore Reserves do not have demonstrated economic viability.

Mineral Resource Tonnes

(Mt)

Grade

(ppm U3O8)

Contained U3O8

(Mlbs)

Measured 62.7 205 28.3

Indicated 273.5 200 120.4

Measured & Indicated Resource 336.2 201 148.8

Inferred (Etango) 45.7 202 20.3

Inferred (Ondjamba & Hyena) 118.7 166 43.6

Proved 64.2 194 27.4

Probable 215.3 193 91.8

Proved and Probable Ore Reserve 279.6 194 119.3

80%

conversion

APPENDIX

Ore Reserve

Conventional Process Flowsheet

25

APPENDIX

Etango – DFS Pre-Production Capital Costs

26

APPENDIX

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

million

Mining – 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

Owner’s costs (personnel, housing, training, insurance etc) 40

Other (camp facilities, mobilisation and demobilisation and

temporary services)

56

Total pre-production capital expenditure 870

27

APPENDIX

DFS Cash Operating Cost Estimate (April 2012) First 5

Years

Life-of-

Mine

Mining:

- US$/tonne mined

- US$/tonne ore

1.72

7.87

1.97

8.55

Processing (US$/tonne ore):

Consumables, labour, maintenance & other 3.37 3.41

Sulphuric acid 1.78 1.79

Power 1.29 1.31

Water 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