The Etango Uranium Project is one of the world's largest undeveloped uranium projects located in Namibia, southern Africa, a top five uranium producing nation with substantial mining infrastructure. Etango is one of the few uranium projects with a completed Definitive Feasibility Study (DFS) reflecting detailed market-sourced cost estimates. Based on the recently completed DFS, production is expected to be 7-9 million pounds U3O8 per year for the first five years and 6-8 million pounds U3O8 per year thereafter, for a minimum mine life of 16 years, which would place Etango among the world's top 10 uranium-only mining operations. Significant upside exists through the potential conversion of existing Inferred Resources as well as through new drilling programs now underway for a targeted mine life in excess of 20 years. Etango is considered by Bannerman to be a low technical and environmental risk project, with mining to be undertaken by conventional open pit methods and processing via a 20 million tonnes per annum on-off sulphuric acid heap leach operation.