Urbanism Licence Granted for Retortillo

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 11 August 2020

Urbanism Licence Granted for Retortillo

Berkeley Energia Limited ("Berkley" or the "Company") is pleased to announce that the Urbanism License ("UL") has been granted by the Municipality of Retortillo under the terms established in the Urbanism Law and Urban Planning Regulations of Castilla y León. The UL is a land use permit needed for construction works at the Salamanca mine.

The grant of the UL is a significant permitting milestone for Berkeley and a positive step in the development of the project. The Authorisation for Construction for the uranium concentrate plant as a radioactive facility ("NSC II") is now the only pending approval required to commence full construction of the Salamanca mine.

In late March 2020, the Company formally submitted updated official documentation in relation to the NSC II and has since held a number of meetings (via teleconference calls) with the Nuclear Safety Council ("NSC") technical team to discuss and clarify minor queries on the updated documentation. As requested by the NSC, the Company is currently preparing written responses to these queries and will complete this task in the coming weeks. Following submission of the written responses, the next step in the process is for the NSC technical team to finalise its report and submit it to the NSC Board for ratification.

In July 2020, the NSC issued a favourable report for the extension of the validity of the Initial Authorisation for the uranium concentrate plant as a radioactive facility ("NSC I"). NSC I was granted in September 2015, with a 5-year validity period. The next step is for the Ministry for Ecological Transition and the Demographic Challenge to approve this authorisation and set its duration period.

The Company will continue to engage with the relevant authorities in a collaborative manner and maintain strong engagement with all key stakeholders in Spain, as it progresses the approvals required to commence full construction of the Salamanca mine and bring it into production.

For further information please contact:

Robert Behets                        Franciso Bellón        

Acting Managing Director         Chief Operations Officer

+61 8 9322 6322                     +34 91 555 1380                                            

[email protected]

This announcement has been authorised for release by Mr Robert Behets, Director.

Forward Looking Statements

Statements regarding plans with respect to Berkeley's mineral properties are forward-looking statements. There can be no assurance that Berkeley's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Berkeley will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Berkeley mineral properties. These forward-looking statements are based on Berkeley's expectations and beliefs concerning future events.  Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Berkeley, which could cause actual results to differ materially from such statements. Berkeley makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.