STOCK EXCHANGE ANNOUNCEMENT

29 January 2013

The Manager

ASX Market Announcements

Australian Securities Exchange

Exchange Plaza

2 The Esplanade

Perth WA 6000

Dear Sir or Madam

Cancellation of Unlisted Options

Bannerman Resources Limited wishes to advise that 100,000 unlisted options have been cancelled in accordance with their terms of issue.

Details of unlisted options cancelled are as follows:

Code

Expiry Date

Exercise Price

No of Options

BMNAE

28 January 2013

A$3.64

100,000

Yours faithfully

Glen Smith

Company Secretary

For further information please contact:

Len Jubber

Chief Executive Officer Perth, Western Australia Tel: +61 (0)8 9381 1436

admin@bannermanresources.com.au

About Bannerman - Bannerman Resources Limited is an emerging exploration and development company with interests in two properties in Namibia, a southern African country considered to be a premier uranium mining jurisdiction. Bannerman's principal asset is its 80%-owned Etango Project situated southwest of Rio Tinto's Rössing uranium mine and to the west of Paladin Energy's Langer-Heinrich mine. Etango is one of the world's largest undeveloped uranium deposits. Bannerman is focused on the development of a large open pit uranium operation at Etango. More information is available on Bannerman's website at www.bannermanresources.com.

1

www.bannermanresources.com

BANNERMAN RESOURCES LIMITED ABN 34 113 017 128

Corporate Office Level 1