Ministry Grants Renewal of Initial Authorisation

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 14 December 2020

Ministry Grants Renewal of Initial Authorisation

Berkeley Energia Limited ("Berkeley" or the "Company") has received formal notification from the Ministry for Ecological Transition and the Demographic Challenge ("MITECO") that it has been granted the renewal of the Initial Authorisation for the uranium concentrate plant as a radioactive facility at the Salamanca project ("NSC I") until there is a resolution on the Authorisation for Construction for the uranium concentrate plant as a radioactive facility ("NSC II"). This renewal follows the Nuclear Safety Council ("NSC") issuing a favourable report for the extension of the validity of NSC I in July 2020.

NSC I was granted in September 2015 by the then Ministry of Industry, Energy and Tourism, with a 5-year validity period. The favourable report issued by the NSC in July considered that the circumstances and characteristics of the uranium concentrate plant are the same as those contained in the Initial Authorisation issued in 2015.

Subsequent to the grant of NSC I, the Company applied for NSC II in 2016. In March 2020, the Company formally submitted updated official documentation in relation to NSC II and has since held a number of meetings with the NSC technical team to discuss and clarify minor queries on the updated documentation. As requested, the Company submitted written responses to these queries, along with additional technical information, to the NSC in September 2020. The next step in the process is for the NSC technical team to now finalise its report and submit it to the NSC Board for ratification.

The Company also notes that the Spanish Supreme Court has rejected the appeal filed by a group of opposition parties against NSC I.

In September 2019, the Spanish National Court fully dismissed a contentious-administrative appeal filed by the group of opposition parties against NSC I. Subsequent to the National Court ruling, the group of opposition parties appealed to the Supreme Court. The Supreme Court has now confirmed all aspects of the ruling of the National Court and thus, has confirmed the legality of NSC I. As noted above, MITECO has granted renewal of NSC I through until there is a resolution on NSC II.

Following the grant of the Urbanism License by the Municipality of Retortillo in August 2020, and with more than 120 previously granted permits and favourable reports by relevant authorities at the local, regional, federal and European Union levels, NSC II is now the only pending approval required to commence full construction of the Salamanca mine.

The Company is continuing to engage with the relevant authorities in a collaborative manner in progressing the approval process for the Salamanca mine and will keep the market fully informed of any developments.

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]