Bannerman Resources Limited : Expiration of Unlisted Employee Options

STOCK EXCHANGE ANNOUNCEMENT

3 January 2012

The Manager

Company Announcements Office

Australian Securities Exchange

Exchange Plaza

2 The Esplanade

Perth WA 6000

Dear Sir or Madam

Expiration of Unlisted Employee Options

Bannerman Resources Limited advises that 200,000 unlisted employee options have expired unexercised and have therefore lapsed and been cancelled.

Details of the expired unlisted employee options are as follows:

Code	Expiry Date	Exercise Price	No of Options
BMNAW	27 December 2011	A$2.40	200,000

Yours faithfully

Glen Smith

Company Secretary

For further information please contact:

Len Jubber Tim Haughan

Chief Executive Officer Investor Relations Manager Perth, Western Australia Perth, Western Australia Tel: [phone] Tel: [phone] [e-mail]

About Bannerman - Bannerman Resources Limited is an emerging uranium 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 feasibility assessment and development of a large open pit uranium operation at Etango. More information is available on Bannerman's website at www.bannermanresources.com .

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www.bannermanresources.com

BANNERMAN RESOURCES LIMITED ABN 34 113 017 128

Corporate Office Level 1