Bannerman Mining Resources Namibia (Pty) Ltd (BMRN) is proud to be advancing the Etango Uranium Project, one of Namibia’s most significant undeveloped uranium projects and a potential future contributor to the country’s longstanding reputation as a leading global uranium jurisdiction.

BMRN is a 95% owned subsidiary of Bannerman Energy Ltd, an Australian uranium development company listed on the Australian and Namibian stock exchanges and traded on the OTCQX Market in the United States. The remaining 5% of BMRN is owned by the One Economy Foundation of Namibia, reflecting Bannerman’s commitment to meaningful local participation and shared national benefit.

Located in the Erongo Region, approximately 37 kilometres east of Swakopmund and 67 kilometres northeast of Walvis Bay, Etango is strategically positioned within one of Namibia’s most established mining regions. The project is underpinned by a globally large-scale uranium Mineral Resource of 207 million pounds of contained U₃O₈ and has benefited from more than 15 years of exploration, technical studies and feasibility work.

Since commencing operations in Namibia in 2006, Bannerman has worked to build Etango responsibly and with a long-term view. The company has maintained strong environmental standards, supported by an extensive environmental baseline dating back to 2008, innovation in drill pad rehabilitation in the Namib Desert and a peer reviewed Environmental and Social Impact Assessment that formed the basis for environmental clearance of the project.

Etango has also been substantially de-risked through the successful operation of the Etango Heap Leach Demonstration Plant, which validated the project’s processing method and provided valuable technical confidence.

Following the award of the Etango Mining Licence 250 in December 2023, Bannerman moved immediately into early enabling construction works.

Bannerman is proud to have awarded these works to four Namibian contractors; Namibbeton, K Neumayer, Tulela Mining and AN Construction. With more than 560 personnel currently on site these works have been delivered on time, on budget and most importantly, Safety.

Safety remains central to Bannerman’s approach. In June 2026, the BMRN team and its contract partners achieved 1.1 million LTI-free hours on the Etango Project, extending Bannerman’s unbroken 17-year LTI-free record. This milestone reflects the strong safety culture, workforce engagement and leadership commitment embedded across all project activities. As Etango advances, Bannerman remains focused on delivering the project in a way that supports Namibia’s people, economy and mining future.