Bannerman Resources Limited provided an update on the progress of its Pre-Feasibility Study (PFS) for the 8Mtpa development1 of its flagship Etango Uranium Project in Namibia (Etango-8). Etango-8 PFS workstreams proceeding to plan; Scoping Study demonstrated the strong technical and economic viability of conventional open pit mining and heap leach processing of the Etango deposit at 8Mtpa throughput, Etango-8 provides an alternative, streamlined development model to the 20Mtpa development of Etango assessed to Definitive Feasibility Study level in 2015. High quality consultants engaged to complete the PFS including: Wood plc appointed for processing plant design, Qubeka Mining Consultants appointed for mining studies. PFS benefits from vast body of technical work previously undertaken at Etango to a definitive level; all resource drilling, geotechnical, metallurgical and environmental work already complete, Completion of the PFS is expected during the June 2021 quarter, Estimated PFS cost is approx. AUD 1.0 million; fully funded from existing cash balance of AUD 3.7 million (at 30 September 2020).