2025/12/18 – 10:25:00 – 1087519622745293072
Etango construction early works update
Bannerman Resources Limited
Registration No. ABN 34 113 017 128
Registered as an external company in Namibia
ISIN Code: AU000000BMN9
NSX Share Code: BMN
ETANGO CONSTRUCTION EARLY WORKS UPDATE
Bannerman Energy Ltd (ASX:BMN, OTCQX:BNNLF, NSX:BMN) (Bannerman or the
Company) is pleased to advise of further progress in the construction early works
activities at its Etango Uranium Project (Etango Project or Etango).
KEY OUTCOMES
• Early works construction activities tracking to overall budget and schedule:
• Site contractor workforce progressively increased to over 370 personnel.
• Bulk earthworks contract progressing well and approx. 51% complete, major
focus remains construction of heap leach pads.
• Blasting, crushing and screening of heap leach drainage aggregate
advancing to schedule and on-spec.
• Phase 1 and Phase 2A concrete contracts placed and commenced, with
foundations for both primary crusher and stockpile tunnel already poured.
• High-Pressure Grinding Rolls (HPGR) tertiary crusher successfully
manufactured, transported and delivered to site.
• Detailed design and procurement activities advancing well:
• Detailed model review (M2) for dry plant successfully completed; civil
and mechanical design for dry plant approx. 92% complete.
• Wet plant design currently focused on validation test work; detailed engineering
of wet plant approx. 23% complete.
• Long-term infrastructure and utilities supply activities progressing strongly:
• Phase 1 of permanent water supply pipeline installation approx. 16% complete.
Bannerman Chief Executive Officer, Gavin Chamberlain, commented:
“The Etango site is now truly abuzz with activity. Across the board, our early works
construction and long lead activities are progressing safely and to schedule. This is a
direct function of the dedication of both our contract partners and Bannerman personnel.
We are continuing to award key contracts to local Namibian contract partners, who have
proven their ability to deliver to world-class standards. A particular highlight for the
project team over recent weeks was the pouring of the stockpile tunnel base, which was
a 1,200m3 continuous concrete pour that was achieved seamlessly.”
This announcement can be viewed at the following link
https://wcsecure.weblink.com.au/clients/bannermanresources/headline.aspx?headlineid=61304129
This ASX release was authorised on behalf of the Bannerman Board by:
Brandon Munro
Executive Chairman
18 December 2025
Registered Office
Bannerman Mining Resources Namibia (Pty) Ltd
Registration no. 2005/115
71 Seeadler Street, Vineta
Swakopmund
Namibia
Sponsor
IJG Securities (Pty) Ltd
Member of the NSX
4th Floor, 1@Steps, C/O Grove and Chasie Street, Klein Kuppe
P O Box 186, Windhoek, Namibia
Registration No. 95/505
Date: 18-12-2025 10:25:00
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Namibia Securities Exchange – NAM News