TIDMBKY

RNS Number : 3226A

Berkeley Energy Limited

28 September 2015

BERKELEY ENERGY LIMITED

AIM RELEASE | 28 SEPTEMBER 2015 | AIM/ASX:BKY

OUTSTANDING ZONA 7 INTERCEPTS EXPECTED TO INCREASE OVERALL RESOURCE GRADE

Final results from the recently completed infill drill programme at the important Zona 7 deposit have confirmed the overall continuity of the mineralisation and have reported significantly higher grades.

A number of the most recent results have recorded broad intersections with grades nearly fifteen times higher than the previously reported resource grade.

It is anticipated that these results will increase the overall grade of the upgraded mineral resource estimate which is currently being estimated and will be reported shortly.

Outstanding intercepts include high grade intersections recorded from shallow depths of just four metres from surface with thicknesses up to 52 metres:

   --      13 metres @ 8,543 ppm U(3) O(8) 
   --      18 metres @ 3,658 ppm U(3) O(8) 
   --      14 metres @ 2,261 ppm U(3) O(8) 
   --      10 metres @ 2,118 ppm U(3) O(8) 
   --      52 metres @ 1,909 ppm U(3) O(8) 
   --      20 metres @ 1,565 ppm U(3) O(8) 
   --      12 metres @ 1,144 ppm U(3) O(8) 
   --      17 metres @ 1,354 ppm U(3) O(8) 
   --      31 metres @ 1,332 ppm U(3) O(8) 
   --      26 metres @ 1,327 ppm U(3) O(8) 

The programme comprised ninety drill holes for 6,226 metres and has been designed to upgrade the resource to the Indicated category enabling the Zona 7 deposit to be incorporated into a Pre-Feasibility Study for the 100% owned Salamanca project which will be reported during the current quarter.

The inclusion of the deposit into the study will enable the overall economics of the project to be reported for the first time. The increase in the resource grade foreshadowed by these latest results combined with the recently reported impressive metallurgical testwork results is expected to increase the already significant positive impact the deposit will have on the overall economics of the project.

The deposit is located within ten kilometres of the approved location of the proposed processing plant and currently hosts an Inferred Mineral Resource Estimate of 23.2 million tonnes averaging 589 ppm U(3) O(8) for 30.1 million pounds of U(3) O(8) (at a 200 ppm U(3) O(8) cut-off grade).

As previously advised given the very positive impact the deposit is expected to have on the project's economics the Board has decided to push ahead with the permitting required to rapidly incorporate this resource into the overall development of the Salamanca project.

For further information contact:

 
 Paul Atherley         Hugo Schumann       John Prior / Paul 
                                            Gillam 
 Managing Director     Corporate Manager   Numis Securities 
                                           Nomad & Broker 
 +44 207 478 3900      +44 207 478 3900     +44 207 260 1000 
     info@berkeleyenergy.com 
 
 

Appendix A: Detailed Results

Drilling Program

The current drill program, comprising 90 RC holes for 6,226 metres, has been designed to close the broadly spaced 2014 drill pattern down to a notional 50 metre by 50 metre grid to facilitate the estimation of a revised Indicated Mineral Resource Estimate ('MRE') for the higher grade portion of Zona 7.

Drilling Results

Assay results from the 90 RC holes from the 2015 drilling program at Zona 7 are presented in this report. The holes reported have been drilled within Domain 6 area of the current MRE or outside the resource boundary to the SE and SW.

The mineralisation intersected in the drill holes has confirmed the continuity of thickness and grade above the 200 ppm U(3) O(8) cut-off reported in the current MRE. Significant high grade intersections have been recorded at shallow depths (from 4 metres to a maximum depth of 101 metres), with thicknesses up to 52 metres. Select intercepts include:

 
 Hole No.       Down Hole Intercept       From Depth 
                                          (Down Hole) 
                   5m @ 1,800 ppm U(3) 
 Z7R-145                          O(8)            50m 
            --------------------------  ------------- 
                   6m @ 1,422 ppm U(3) 
 Z7R-148                          O(8)            54m 
            --------------------------  ------------- 
 Z7R-167        9m @ 808 ppm U(3) O(8)            13m 
            --------------------------  ------------- 
                6m @ 801 ppm U(3) O(8) 
               13m @ 940 ppm U(3) O(8)            10m 
                   8m @ 1,173 ppm U(3)            23m 
 Z7R-168                          O(8)            53m 
            --------------------------  ------------- 
 Z7R-169       13m @ 805 ppm U(3) O(8)            27m 
            --------------------------  ------------- 
 Z7R-171       37m @ 689 ppm U(3) O(8)            16m 
            --------------------------  ------------- 
                  22m @ 1,257 ppm U(3) 
 Z7R-176                          O(8)            18m 
            --------------------------  ------------- 
 Z7R-178       37m @ 883 ppm U(3) O(8)            10m 
                  10m @ 2,118 ppm U(3) 
                                  O(8)            50m 
                  13m @ 1,425 ppm U(3) 
                                  O(8)            73m 
 -------------------------------------  ------------- 
                  26m @ 1,327 ppm U(3) 
 Z7R-179                          O(8)            17m 
            --------------------------  ------------- 
 Z7R-184       16m @ 951 ppm U(3) O(8)            42m 
            --------------------------  ------------- 
                  31m @ 1,332 ppm U(3) 
 Z7R-188                          O(8)            21m 
            --------------------------  ------------- 
 Z7R-194       21m @ 767 ppm U(3) O(8)            34m 
            --------------------------  ------------- 
                  26m @ 1,103 ppm U(3) 
 Z7R-197                          O(8)            43m 
            --------------------------  ------------- 
                  20m @ 1,565 ppm U(3) 
 Z7R-198                          O(8)            24m 
            --------------------------  ------------- 
                  12m @ 1,144 ppm U(3) 
 Z7R-199                          O(8)            21m 
               15m @ 854 ppm U(3) O(8)            40m 
 -------------------------------------  ------------- 
                  14m @ 2,261 ppm U(3) 
 Z7R-200                          O(8)             5m 
               32m @ 867 ppm U(3) O(8)            22m 
 -------------------------------------  ------------- 
                  21m @ 1,150 ppm U(3) 
 Z7R-201                          O(8)            21m 
            --------------------------  ------------- 
 Z7R-203       40m @ 949 ppm U(3) O(8)             7m 
            --------------------------  ------------- 
                  13m @ 8,543 ppm U(3) 
 Z7R-204                          O(8)             8m 
            --------------------------  ------------- 
                  52m @ 1,909 ppm U(3) 
 Z7R-205                          O(8)             9m 
            --------------------------  ------------- 
                  18m @ 3,658 ppm U(3) 
 Z7R-209                          O(8)            10m 
            --------------------------  ------------- 
                  17m @ 1,354 ppm U(3) 
 Z7R-212                          O(8)            29m 
                   4m @ 1,877 ppm U(3) 
                                  O(8)            52m 
 -------------------------------------  ------------- 
 

All significant intersections within the new drill holes, along with the details of the collar position, drill hole orientation and depth, are summarised in Appendix B.

Geological Setting

Zona 7 is a vein type deposit hosted in a sequence of fine grained metasediments which are overlain by a conglomerate unit and adjacent to a granite intrusive. The mineralised envelope is generally sub-horizontal and the mineralisation is contained within a stockwork of veins. The uranium mineralisation occurs both within the partially weathered zone and fresh rock.

Competent Persons Statement

The information in this announcement that relates to the 2015 Exploration Results is based on information compiled by Malcolm Titley, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr. Titley is independent of Berkeley and Director of Maja Mining Limited, an independent consultancy based in the UK. Mr Titley has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Titley consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to 2014 Exploration Results is extracted from the reports entitled 'Thick, High Grade Mineralisation Intersected at Zona 7' dated 18 August 2014 and 'Further Thick, High Grade Drill Intersections at Zona 7' dated 10 November 2014 which are available to view on Berkeley's website at www.berkeleyenergy.com. The information in the original ASX Announcements that relate to the 2014 Exploration Results is based on information compiled by Robert Behets, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Behets is a holder of shares, options and performance rights in, and is a director of, Berkeley. Mr Behets has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market

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announcement. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.

The information in this report that relates to the Mineral Resources is extracted from the report entitled 'Salamanca Project Total Resource increased by 43% to 88.2 Mlbs U(3) O(8) following substantial increase in Zona 7 Resource' dated 26 November 2014 and is available to view on Berkeley's website at www.berkeleyenergy.com. The information in the original ASX Announcement that relates to the Mineral Resources for Zona 7 was based on information compiled by Malcolm Titley, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr. Titley is independent of Berkeley and Director of Maja Mining Limited, an independent consultancy based in the UK. Mr Titley has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

Forward Looking Statement

Statements regarding plans with respect to the Company's mineral properties are forward-looking statements. There can be no assurance that the Company's plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that the Company 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 the Company's mineral properties.

Appendix B: Summary of RC Drill Intersections - Zona 7 (200 ppm U(3) O(8) cut-off)

 
  Drill     Easting   Northing   Elevation   Azimuth   Dip    Depth            From   To    Interval    U(3) 
   Hole                                                                                                 O(8) 
    ID                                                                                                  (ppm) 
---------                                                            -------                          ------- 
              (m)       (m)         (m)       ((o)     ((o)    (m)             (m)    (m)     (m) 
                                                )        ) 
---------  --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-143    713921    4526885       764        360     -90     52               23    26       3        715 
                                                                                29    31       2        218 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-144    713724    4527046       760        360     -90     60               25    27       2        309 
                                                                                34    36       2        724 
                                                                      incl.     35    36       1       1,164 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-145    713945    4526930       765        360     -90     64               26    27       1        336 
                                                                                50    55       5       1,800 
                                                                      incl.     51    52       1       7,003 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-146    713670    4527068       762        360     -90     59               38    43       5        224 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-147    714009    4526838       769        360     -90     50               12    13       1        241 
                                                                                37    38       1        226 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-148    713635    4527092       763        360     -90     72               29    31       2        405 
                                                                                54    60       6       1,422 
                                                                      incl.     56    57       1       6,720 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-149    713989    4526907       767        360     -90     55            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-150    713614    4527160       760        360     -90     60               36    37       1        246 
                                                                                46    48       2        331 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-151    714052    4526703       773        360     -90     70               44    46       2        423 
                                                                                60    62       2        377 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-152    713831    4526820       765        360     -90     60               27    30       3        637 
                                                                                35    36       1        291 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-153    714035    4526995       773        360     -90     64            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-154    713919    4526773       768        360     -90     65            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-155    713991    4527018       771        360     -90     64            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-156    713742    4526866       763        360     -90     58            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-157    713993    4527131       771        360     -90     88            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-158    713653    4526913       763        360     -90     78            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-159    714017    4527174       772        360     -90     50            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-161    713747    4526980       760        360     -90     50            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-162    713656    4527024       762        360     -90     50            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-163    713812    4526998       759        360     -90     60               19    24       5        395 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-164    713832    4526930       761        360     -90     52               23    24       1        219 
                                                                                28    37       9        302 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-165    713767    4527022       759        360     -90     60            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-166    713845    4526978       759        360     -90     59            No Significant Intercepts 
                                                                     ---------------------------------------- 
 Z7R-167    713828    4527035       758        360     -90     60               13    22       9        808 
                                                                      incl.     13    16       3       1,186 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-168    713770    4527134       758        360     -90     72               10    16       6        801 
                                                                      incl.     14    16       2       2,084 
                                                                                23    36       13       940 
                                                                      incl.     25    28       3       1,604 

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                                                                      incl.     30    31       1       3,230 
                                                                                41    42       1       2,429 
                                                                                47    48       1        374 
                                                                                53    61       8       1,173 
                                                                      incl.     56    61       5       1,740 
                                                                                64    67       3        599 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-169    713747    4527090       759        360     -90     60               27    40       13       805 
                                                                      incl.     30    32       2       1,633 
                                                                      incl.     37    39       2       1,871 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-171    713731    4527155       758        360     -90     64               16    53       37       689 
                                                                      incl.     21    22       1       2,358 
                                                                      incl.     37    41       4       1,993 
                                                                      incl.     45    47       2       1,488 
                                                                                56    58       2        791 
                                                                      incl.     57    58       1       1,185 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-172    713860    4527196       755        360     -90     73               23    24       1        242 
                                                                                45    46       1       1,036 
                                                                                60    61       1        930 
                                                                                64    65       1       1,028 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-173    713681    4527180       759        360     -90     70               21    29       8        275 
                                                                                32    46       14       472 
                                                                      incl.     34    35       1       1,851 
                                                                                52    54       2        272 
                                                                                60    61       1        271 
                                                                                65    66       1        518 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-174    713816    4527222       755        360     -90     75               26    28       2        230 
                                                                                31    37       6        237 
                                                                                45    50       5        311 
                                                                                54    59       5        424 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-175    713663    4527247       756        360     -90     70               39    45       6        216 
                                                                                65    66       1        275 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-176    713794    4527178       756        360     -90     67               18    40       22      1,257 
                                                                      incl.     18    26       8       2,136 
                                                                      incl.     29    30       1       2,352 
                                                                      incl.     32    33       1       1,497 
                                                                                48    49       1        258 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-177    713706    4527336       754        360     -90     52            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-178    713773    4527246       755        360     -90     106              10    47       37       883 
                                                                      incl.     12    14       2       2,252 
                                                                      incl.     18    22       4       3,026 
                                                                      incl.     30    31       1       2,511 
                                                                      incl.     35    36       1       3,077 
                                                                      incl.     41    42       1       1,320 
                                                                                50    60       10      2,118 
                                                                      incl.     50    54       4       3,392 
                                                                      incl.     56    58       2       2,686 
                                                                                63    64       1        380 
                                                                                73    86       13      1,425 
                                                                      incl.     74    83       9       1,539 
                                                                      incl.     85    86       1       2,889 
                                                                                91    92       1        275 
                                                                                99    101      2        302 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-179    713819    4527335       752        360     -90     61               17    43       26      1,327 
                                                                      incl.     20    23       3       2,955 
                                                                      incl.     25    32       7       1,865 
                                                                      incl.     35    36       1       2,146 
                                                                      incl.     38    39       1       3,667 
                                                                                52    56       4        263 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-181    713776    4527357       753        360     -90     50               16    23       7        971 
                                                                      incl.     16    17       1       4,056 
                                                                                26    35       9        351 
                                                                                43    45       2       1,854 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-182    713735    4527270       755        360     -90     79               32    33       1        404 
                                                                                36    40       4        380 
                                                                                43    60       17       560 
                                                                      incl.     46    47       1       3,466 
                                                                                66    67       1        844 
                                                                                70    72       2        257 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-183    713754    4527424       751        360     -90     65               16    17       1        243 
                                                                                23    24       1        311 
                                                                                29    30       1        244 
                                                                                33    34       1        303 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-184    713874    4527247       754        360     -90     64               25    26       1        289 
                                                                                31    39       8        794 
                                                                      incl.     35    38       3       1,468 
                                                                                42    58       16       951 
                                                                      incl.     43    48       5       1,684 
                                                                      incl.     57    58       1       3,655 

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           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-185    713800    4527514       748        360     -90     60               4      7       3        415 
           --------  ---------  ----------  --------  -----  ------ 
 Z7R-186    714040    4527227       763        360     -90     60            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-187    714064    4527262       766        360     -90     91               40    41       1       1,291 
                                                                                44    45       1        343 
                                                                                48    50       2        903 
                                                                      incl.     48    49       1       1,173 
                                                                                54    56       2        215 
                                                                                59    60       1        460 
                                                                                65    68       3        353 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-188    713842    4527266       753        360     -90     62               21    52       31      1,332 
                                                                      incl.     22    24       2       2,116 
                                                                      incl.     35    41       6       3,611 
                                                                      incl.     46    49       3       2,568 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-189    713982    4527314       757        360     -90     85               18    26       8        402 
                                                                                31    34       3       1,272 
                                                                      incl.     31    33       2       1,671 
                                                                                38    52       14       347 
                                                                      incl.     50    51       1       1,279 
                                                                                61    64       3        648 
                                                                      incl.     62    63       1       1,427 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-190    713993    4527240       760        360     -90     79            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-191    714043    4527330       764        360     -90     82               48    49       1        547 
                                                                                64    69       5        630 
                                                                      incl.     68    69       1       1,827 
                                                                                72    74       2       2,995 
                                                                      incl.     72    73       1       4,999 
                                                                                78    79       1        679 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-192    713951    4527264       756        360     -90     70               16    31       15       237 
                                                                                36    37       1        290 
                                                                                52    53       1        802 
                                                                                64    65       1        328 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-194    713995    4527347       758        360     -90     91               26    31       5        233 
                                                                                34    55       21       767 
                                                                      incl.     34    40       6       1,238 
                                                                      incl.     44    46       2       1,645 
                                                                                59    80       21       665 
                                                                      incl.     61    62       1       3,101 
                                                                      incl.     70    73       3       1,368 
                                                                                84    87       3        285 
 Z7R-195    713907    4527287       753        360     -90     60               13    16       3        261 
                                                                                20    21       1        259 
                                                                                38    52       14       436 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-196    713947    4527226       757        211     -60     62               17    20       3        273 
                                                                                23    48       25       528 
                                                                      incl.     29    30       1       1,005 
                                                                      incl.     33    37       4       1,118 
                                                                                56    57       1        572 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-197    713954    4527376       754        360     -90     75               30    40       10       635 
                                                                      incl.     39    40       1       2,246 
                                                                                43    69       26      1,103 
                                                                      incl.     43    47       4       3,973 
                                                                      incl.     56    57       1       1,256 
                                                                      incl.     65    66       1       4,928 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-198    713889    4527348       752        360     -90     82               11    19       8        267 
                                                                                24    44       20      1,565 
                                                                      incl.     25    35       10      2,507 
                                                                      incl.     37    38       1       2,181 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-199    713921    4527394       751        360     -90     64               4     18       14       408 
                                                                      incl.     15    16       1       1,851 
                                                                      incl.     17    18       1       1,034 
                                                                                21    33       12      1,144 
                                                                      incl.     23    26       3       2,906 
                                                                      incl.     29    30       1       1,763 
                                                                                40    55       15       854 
                                                                      incl.     42    48       6       1,477 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-200    713933    4527443       751        360     -90     70               5     19       14      2,261 
                                                                      incl.     5      8       3       1,878 
                                                                      incl.     10    19       9       2,787 
                                                                                22    54       32       867 
                                                                      incl.     22    24       2       6,591 
                                                                      incl.     33    34       1       1,544 
                                                                      incl.     36    39       3       1,541 
                                                                      incl.     51    52       1       1,105 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-201    713863    4527311       752        360     -90     60               21    42       21      1,150 
                                                                      incl.     22    27       5       1,844 
                                                                      incl.     30    34       4       1,755 
                                                                      incl.     36    38       2       1,374 
                                                                      incl.     40    41       1       1,309 

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           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-203    713824    4527446       749        360     -90     69               7     47       40       950 
                                                                      incl.     9     14       5       1,366 
                                                                      incl.     16    27       11      1,552 
                                                                      incl.     33    35       2       2,258 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-204    713858    4527088       757        360     -90     69               8     21       13      8,543 
                                                                      incl.     12    20       8       13,607 
                                                                                35    36       1        338 
                                                                                39    40       1        295 
                                                                                42    43       1        239 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-205    713866    4527423       750        360     -90     64               9     61       52      1,909 
                                                                      Incl.     10    11       1       1,491 
                                                                      Incl.     13    14       1       1,026 
                                                                      Incl.     15    16       1       1,078 
                                                                      Incl.     19    30       11      3,817 
                                                                      Incl.     36    39       3       3,136 
                                                                      Incl.     45    60       15      2,210 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-206    713901    4526952       762        360     -90     60               8      9       1        357 
                                                                                13    15       2        226 
                                                                                28    30       2       1,622 
                                                                      incl.     28    29       1       2,547 
                                                                                46    47       1        205 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-207    713847    4527602       746        360     -90     67               50    51       1        248 
                                                                                54    55       1        383 
                                                                                58    62       4        451 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-208    713947    4527041       767        360     -90     75               27    29       2        961 
                                                                                32    40       8        336 
                                                                                49    51       2        458 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-209    714014    4527543       752        78      -60     69               10    28       18      3,658 
                                                                      incl.     10    24       14      4,587 
                                                                                33    34       1        838 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-210    713903    4527064       761        360     -90     75               21    25       4        893 
                                                                      incl.     23    24       1       2,488 
                                                                                28    29       1       1,054 
                                                                                32    46       14       714 
                                                                      incl.     32    33       1       3,372 
                                                                      incl.     35    36       1       2,034 
                                                                      incl.     40    41       1       1,527 
                                                                      incl.     45    46       1       1,013 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-211    714058    4527520       754        73      -59     69               9     14       5        384 
                                                                                17    19       2        290 
                                                                                25    28       3        328 
                                                                                36    37       1        291 
                                                                                41    48       7        311 
                                                                                58    59       1        200 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-212    713820    4527113       757        360     -90     65               5     22       17       648 
                                                                      incl.     12    13       1       1,592 
                                                                      incl.     16    18       2       1,184 
                                                                      incl.     21    22       1       1,757 
                                                                                29    46       17      1,354 
                                                                      incl.     29    31       2       4,050 
                                                                      incl.     38    39       1       2,523 
                                                                      incl.     42    44       2       4,224 
                                                                                52    56       4       1,877 
                                                                      incl.     52    55       3       2,398 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-213    713996    4527566       751        121     -59     62               16    34       18       397 
                                                                      incl.     28    29       1       1,058 
                                                                      incl.     33    34       1       1,250 
                                                                                37    47       10       877 
                                                                      incl.     40    44       4       1,756 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-214    713842    4527149       756        360     -90     75               15    16       1       1,916 
                                                                                32    33       1        411 
                                                                                62    63       1        350 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-215    714078    4527445       760        77      -60     75               24    29       5        583 
                                                                      Incl.     27    28       1       2,081 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-216    713905    4527176       756        360     -90     68               20    32       12       618 
                                                                      incl.     24    25       1       2,258 
                                                                                37    38       1        244 
                                                                                61    62       1        251 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-217    714094    4527423       763        77      -58     63               21    31       10       289 
                                                                                38    55       17       570 
                                                                      incl.     51    53       2       1,772 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-218    713943    4527143       764        42      -58     90               73    76       3        323 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-220    713966    4527083       769        360     -90     95               59    60       1        332 
                                                                                67    73       6        562 
                                                                       Incl.    68    69       1       1,698 

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           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-221    714257    4527470       763        257     -62     57               51    52       1       2,806 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-222    714333    4527517       768        360     -90     55            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-223    714241    4527523       761        257     -60     60               29    30       1        217 
                                                                                35    36       1       1,521 
                                                                                51    52       1       1,332 
 Z7R-224    714317    4527637       762        360     -90     50            No Significant Intercepts 
           --------  ---------              --------                 ---------------------------------------- 
 Z7R-225    714187    4527706       754        360     -90     65               10    11       1        274 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-226    714348    4527568       768        360     -90     50            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 Z7R-227    714270    4527551       762        360     -90     55               17    21       4        326 
                                                                                27    28       1       1,020 
                                                                                34    35       1        233 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-228    714252    4527617       759        360     -90     80               17    26       9        237 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-229    714246    4527574       760        236     -58     69               27    32       5        456 
                                                                      incl.     31    32       1       1,098 
                                                                                48    49       1        380 
                                                                                60    62       2        243 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-230    714261    4527659       758        115     -60     60               33    34       1        225 
                                                                                38    41       3        535 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-231    714161    4527663       755        214     -60     92               24    27       3        310 
                                                                                32    66       34       601 
                                                                      incl.     33    36       3       1,425 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-233    714229    4527683       756        360     -90     80               22    30       8        410 
                                                                      incl.     27    28       1       1,332 
                                                                                33    34       1        619 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-234    714096    4527754       751        360     -90     65               14    17       3        237 
                                                                                31    33       2       1,119 
                                                                      incl.     31    32       1       1,987 
                                                                                44    51       7        426 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-235    714139    4527730       752        360     -90     58               22    23       1        381 
                                                                                35    46       11       224 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-236    714069    4527713       751        211     -59     69               47    48       1        203 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-237    714018    4527766       749        215     -60     75               39    40       1        442 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-238    714050    4527775       750        360     -90     65               26    27       1        219 
           --------  ---------  ----------  --------  -----  ------  -------  -----  ----  ---------  ------- 
 Z7R-239    714008    4527799       748        360     -90     60            No Significant Intercepts 
           --------  ---------  ----------  --------  -----  ------  ---------------------------------------- 
 

Appendix C: JORC Code, 2012 Edition - Table 1 report

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

 
 Criteria            JORC Code explanation                        Commentary 
                    ------------------------------------------- 
 Sampling            Nature and quality of sampling               All results reported are from Reverse 
  techniques          (eg cut channels, random chips,              Circulation (RC) drill samples collected 
                      or specific specialised industry             over one metre (1m) intervals. Multiple 
                      standard measurement tools appropriate       methods were used to determine uranium 
                      to the minerals under investigation,         mineralisation intervals including 
                      such as down hole gamma sondes,              down hole gamma analysis, hand held 
                      or handheld XRF instruments,                 scintillometer measurements and 
                      etc). These examples should                  portable XRF analysis. Intervals 
                      not be taken as limiting the                 containing uranium mineralisation 
                      broad meaning of sampling.                   were selected and submitted for 
                                                                   laboratory assay analysis. 
                    -------------------------------------------  ------------------------------------------------- 
                     Include reference to measures                Standards and blanks are inserted 
                      taken to ensure sample representivity        into the sample stream to assess 
                      and the appropriate calibration              the accuracy, precision and methodology 
                      of any measurement tools or                  of the external laboratories used. 
                      systems used.                                In addition, field duplicate samples 
                                                                   are inserted to assess the variability 
                                                                   of the uranium mineralisation. Approximately 
                                                                   15-20% of all samples relate to 
                                                                   quality control. In addition, the 
                                                                   laboratories undertake their own 
                                                                   duplicate sampling as part of their 
                                                                   internal QA/QC processes. Examination 
                                                                   of the QA/QC sample data indicates 
                                                                   satisfactory performance of field 
                                                                   sampling protocols and assay laboratories 
                                                                   providing acceptable levels of precision 
                                                                   and accuracy. 
 
                                                                   Drill hole collar locations are 
                                                                   surveyed by qualified surveyors 
                                                                   (Cubica Ingeniería Metrica 
                                                                   S.L) using standard differential 
                                                                   GPS (DGPS) equipment achieving sub 
                                                                   decimetre accuracy in horizontal 
                                                                   and vertical position. Down-hole 
                                                                   surveys are undertaken using a Geovista 
                                                                   down-hole deviation probe. Measurements 
                                                                   are taken every 1cm down hole and 
                                                                   averaged every 10m. No strongly 

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                                                                   magnetic rocks are present within 
                                                                   the deposit which may affect magnetic 
                                                                   based readings. 
                    -------------------------------------------  ------------------------------------------------- 
                     Aspects of the determination                 RC drill samples are collected over 
                      of mineralisation that are Material          1m intervals, manually homogenised 
                      to the Public Report. In cases               before being split on site using 
                      where 'industry standard' work               a three tier riffle splitter to 
                      has been done this would be                  provide an approximate 3-5kg sample. 
                      relatively simple (eg 'reverse               In rare cases, wet samples are split 
                      circulation drilling was used                using a cone and quarter method. 
                      to obtain 1 m samples from which 
                      3 kg was pulverised to produce               Scintillometer measurements are 
                      a 30 g charge for fire assay').              taken on all samples and this data 
                      In other cases more explanation              is used to select the samples to 
                      may be required, such as where               be sent to external laboratories 
                      there is coarse gold that has                for sample preparation and analysis. 
                      inherent sampling problems.                  Indicative mineralised intervals 
                      Unusual commodities or mineralisation        are determined from this data and 
                      types (eg submarine nodules)                 the sampling extended up and down 
                      may warrant disclosure of detailed           hole by at least 2-5m. 
                      information. 
                                                                   Samples are further split in the 
                                                                   core shed using a scoop such that 
                                                                   0.7-1kg samples are sent to the 
                                                                   preparation laboratories of ALS 
                                                                   and AGQ (Seville, Spain) and analytical 
                                                                   laboratory of ALS (Loughrea, Ireland). 
                                                                   Samples are dried, fine crushed 
                                                                   down to 70% below 2mm, split to 
                                                                   obtain 250g and pulverised with 
                                                                   at least 85% of the sample passing 
                                                                   75um. 10g of sample is used for 
                                                                   uranium analysis by pressed powder 
                                                                   X-ray fluorescence (XRF) method. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Drilling            Drill type (eg core, reverse                 Drilling was by the RC method drilling 
  techniques          circulation, open-hole hammer,               using a 140mm diameter face sampling 
                      rotary air blast, auger, Bangka,             hammer. 
                      sonic, etc) and details (eg 
                      core diameter, triple or standard 
                      tube, depth of diamond tails, 
                      face-sampling bit or other type, 
                      whether core is oriented and 
                      if so, by what method, etc). 
------------------  -------------------------------------------  ------------------------------------------------- 
 Drill sample        Method of recording and assessing            RC drill samples are collected over 
  recovery            core and chip sample recoveries              1m intervals through a cyclone. 
                      and results assessed.                        Plastic sample bags are strapped 
                                                                   to the cyclone to maximise sample 
                                                                   recovery. Individual sample bags 
                                                                   are not weighed to assess sample 
                                                                   recovery but a visual inspection 
                                                                   is made by the Company geologist 
                                                                   to ensure all samples are of approximately 
                                                                   equivalent size. 
                    -------------------------------------------  ------------------------------------------------- 
                     Measures taken to maximise sample            The RC drilling rigs utilised suitably 
                      recovery and ensure representative           sized compressors to ensure dry 
                      nature of the samples.                       samples where possible. Plastic 
                                                                   sample bags are strapped to the 
                                                                   cyclone to maximise sample recovery. 
                                                                   Sample logs record whether the sample 
                                                                   is dry, moist or wet. 
                    -------------------------------------------  ------------------------------------------------- 
                     Whether a relationship exists                There is no known relationship between 
                      between sample recovery and                  sample recovery and grade. The RC 
                      grade and whether sample bias                sample recoveries are of an acceptable 
                      may have occurred due to preferential        level and no bias is expected from 
                      loss/gain of fine/coarse material.           any sample losses. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Logging             Whether core and chip samples                Geological logging of RC chip samples 
                      have been geologically and geotechnically    includes recording descriptions 
                      logged to a level of detail                  of lithology, weathering, alteration 
                      to support appropriate Mineral               and mineralisation. A scintillometer 
                      Resource estimation, mining                  reading of counts per second (cps) 
                      studies and metallurgical studies.           is recorded for each 1m sample (quantitative). 
                    -------------------------------------------  ------------------------------------------------- 
                     Whether logging is qualitative               Geological logging is qualitative 
                      or quantitative in nature. Core              in nature. RC samples and chip trays 
                      (or costean, channel, etc) photography.      are photographed. 
                    -------------------------------------------  ------------------------------------------------- 
                     The total length and percentage              All RC drill holes are logged in 
                      of the relevant intersections                full by Company geologists. 
                      logged. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Sub-sampling        If core, whether cut or sawn                 Not Applicable - RC drilling only. 
  techniques          and whether quarter, half or 
                      all core taken. 
                    -------------------------------------------  ------------------------------------------------- 
 and sample          If non-core, whether riffled,                RC drill samples are collected at 
  preparation         tube sampled, rotary split,                  1m intervals. RC intervals are sampled 
                      etc and whether sampled wet                  by splitting dry samples in the 
                      or dry.                                      field to 3-5kg using a three tier 
                                                                   riffle splitter and further split 
                                                                   in the core shed to 0.7-1kg using 
                                                                   a scoop. Where samples are wet they 
                                                                   are dried prior to spitting. In 
                                                                   rare cases, wet samples are split 
                                                                   using a cone and quarter method. 
                    -------------------------------------------  ------------------------------------------------- 
                     For all sample types, the nature,            Samples are sent to ALS and AGQ 
                      quality and appropriateness                  laboratories for preparation. Samples 
                      of the sample preparation technique.         are dried, fine crushed down to 

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                                                                   70% below 2mm and pulverised with 
                                                                   at least 85% of the sample passing 
                                                                   75um. 10g of sample is used for 
                                                                   uranium analysis by pressed powder 
                                                                   XRF method. This is considered appropriate 
                                                                   for this style of uranium mineralisation. 
                    -------------------------------------------  ------------------------------------------------- 
                     Quality control procedures adopted           Previous field tests have determined 
                      for all sub-sampling stages                  that the sample size and method 
                      to maximise representivity of                of sampling produce representative 
                      samples.                                     RC samples. QA/QC procedures involve 
                                                                   the use of standards, duplicates 
                                                                   and blanks which are inserted into 
                                                                   sample batches at a frequency of 
                                                                   approximately 15-20%. 
                    -------------------------------------------  ------------------------------------------------- 
                     Measures taken to ensure that                Duplicate splits of RC samples are 
                      the sampling is representative               taken every 10m down hole within 
                      of the in situ material collected,           the sampled intervals. The results 
                      including for instance results               from these duplicates generally 
                      for field duplicate/second-half              show acceptable repeatability, however 
                      sampling.                                    indications of inhomogeneity were 
                                                                   observed in a number of duplicates. 
                    -------------------------------------------  ------------------------------------------------- 
                     Whether sample sizes are appropriate         The uranium is typically very fine 
                      to the grain size of the material            grained. Previous test work carried 
                      being sampled.                               out by Berkeley using different 
                                                                   sample sizes has demonstrated that 
                                                                   the selected sample size is appropriate. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Quality             The nature, quality and appropriateness      Uranium analysis by pressed powder 
  of assay            of the assaying and laboratory               XRF method. This analytical method 
  data and            procedures used and whether                  reports total uranium content. 
  laboratory          the technique is considered 
  tests               partial or total. 
                    -------------------------------------------  ------------------------------------------------- 
                     For geophysical tools, spectrometers,        Down-hole gamma logging is undertaken 
                      handheld XRF instruments, etc,               for all probe accessible drill holes 
                      the parameters used in determining           to provide eU(3) O(8) ("equivalent" 
                      the analysis including instrument            U(3) O(8) grade) data however, it 
                      make and model, reading times,               is not currently considered of sufficient 
                      calibrations factors applied                 quality to replace chemical assay 
                      and their derivation, etc.                   data for the purposes of reporting 
                                                                   drilling results at Zona 7. The 
                                                                   drill intersections reported in 
                                                                   this release are calculated using 
                                                                   only chemical assay data. 
                    -------------------------------------------  ------------------------------------------------- 
                     Nature of quality control procedures         Standards, blanks and duplicates 
                      adopted (eg standards, blanks,               are regularly inserted into the 
                      duplicates, external laboratory              sample stream with approximately 
                      checks) and whether acceptable               15-20% of all samples related to 
                      levels of accuracy (ie lack                  quality control. The external laboratories 
                      of bias) and precision have                  used also maintain their own process 
                      been established.                            of QA/QC utilising standards, pulp 
                                                                   repeats, sample duplicates and blanks. 
 
                                                                   Review of the Berkeley quality control 
                                                                   samples, as well as the external 
                                                                   laboratory quality QA/QC reports, 
                                                                   has shown no sample preparation 
                                                                   issues, acceptable levels of accuracy 
                                                                   and precision and no bias in the 
                                                                   analytical datasets. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Verification        The verification of significant              Reported significant intersections 
  of sampling         intersections by either independent          have been checked and verified by 
  and assaying        or alternative company personnel.            Senior Geological management. 
                    -------------------------------------------  ------------------------------------------------- 
                     The use of twinned holes.                    No twinned holes were drilled in 
                                                                   the current RC drilling program. 
                    -------------------------------------------  ------------------------------------------------- 
                     Documentation of primary data,               All primary data is recorded in 
                      data entry procedures, data                  templates designed by Berkeley. 
                      verification, data storage (physical         Assay data from the external laboratory 
                      and electronic) protocols.                   is received in spreadsheets and 
                                                                   downloaded directly into an Access 
                                                                   Database managed by the Company. 
                                                                   Data is entered into controlled 
                                                                   excel templates for validation. 
                                                                   The validated data is then loaded 
                                                                   into a password secured relational 
                                                                   database by a designated Company 
                                                                   geologist. Daily backups of all 
                                                                   digital data are undertaken. These 
                                                                   procedures are documented in the 
                                                                   Berkeley Technical Procedures and 
                                                                   Protocols manual. 
                    -------------------------------------------  ------------------------------------------------- 
                     Discuss any adjustment to assay              Uranium (ppm) assays received from 
                      data.                                        the external laboratory are converted 
                                                                   to U(3) O(8) (ppm) using the stoichiometric 
                                                                   factor of 1.179. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Location            Accuracy and quality of surveys              Drill hole collar locations are 
  of data             used to locate drill holes (collar           surveyed by qualified surveyors 
  points              and down-hole surveys), trenches,            (Cubica Ingeniería Metrica 
                      mine workings and other locations            S.L) using standard differential 
                      used in Mineral Resource estimation.         GPS (DGPS) equipment achieving sub 
                                                                   decimetre accuracy in horizontal 

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                                                                   and vertical position. 
 
                                                                   Down-hole surveys are undertaken 
                                                                   using a Geovista down-hole deviation 
                                                                   probe. Measurements are taken every 
                                                                   1cm down hole and averaged every 
                                                                   10m. No strongly magnetic rocks 
                                                                   are present within the deposit which 
                                                                   may affect magnetic based readings. 
------------------  -------------------------------------------  ------------------------------------------------- 
                     Specification of the grid system             The grid system is ETRS 1989 UTM 
                      used.                                        Zone 29N. 
                    -------------------------------------------  ------------------------------------------------- 
                     Quality and adequacy of topographic          Topographic control is based on 
                      control.                                     a digital terrain model with sub 
                                                                   metric accuracy sourced from the 
                                                                   Spanish Geographical Institute (Instituto 
                                                                   Geográfico Nacional) and is 
                                                                   verified through detailed drill 
                                                                   hole collar surveys by a qualified 
                                                                   surveyor using a DGPS. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Data spacing        Data spacing for reporting of                This RC drilling program has been 
  and distribution    Exploration Results.                         designed to close the current broadly 
                                                                   spaced drill pattern down to a notional 
                                                                   50m by 50m grid. 
                     Whether the data spacing and                 The data spacing (notionally 50m 
                      distribution is sufficient to                by 50m) is considered sufficient 
                      establish the degree of geological           to assume geological and grade continuity, 
                      and grade continuity appropriate             and will allow the estimation of 
                      for the Mineral Resource and                 Indicated Mineral Resources. 
                      Ore Reserve estimation procedure(s) 
                      and classifications applied. 
                    -------------------------------------------  ------------------------------------------------- 
                     Whether sample compositing has               No compositing of RC samples in 
                      been applied.                                the field has been undertaken. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Orientation         Whether the orientation of sampling          The mineralised zone strikes northeast-southwest 
  of data             achieves unbiased sampling of                and is interpreted to be sub-horizontal 
  in relation         possible structures and the                  (due to post mineralisation supergene 
  to geological       extent to which this is known,               processes) to shallowly dipping. 
  structure           considering the deposit type. 
                    -------------------------------------------  ------------------------------------------------- 
                     If the relationship between                  All of the RC drill holes reported 
                      the drilling orientation and                 in this release are vertical. Due 
                      the orientation of key mineralised           to the interpreted flat lying nature 
                      structures is considered to                  of the mineralisation, no sampling 
                      have introduced a sampling bias,             bias is considered to have been 
                      this should be assessed and                  introduced by the orientation of 
                      reported if material.                        the drilling. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Sample              The measures taken to ensure                 Chain of custody is managed by Berkeley. 
  security            sample security.                             Samples are transported from the 
                                                                   drill site by Company vehicle to 
                                                                   a sample preparation shed where 
                                                                   samples are prepared for dispatch. 
                                                                   Samples are sent directly from the 
                                                                   sample preparation shed to the laboratory 
                                                                   using a certified courier or a Berkeley 
                                                                   owned vehicle authorised for radioactive 
                                                                   materials transport. No other freight 
                                                                   is transported with the samples 
                                                                   which are taken directly from the 
                                                                   Berkeley facility to the external 
                                                                   laboratory. Sample submission forms 
                                                                   are sent in paper form with the 
                                                                   samples as well as electronically 
                                                                   to the laboratory. Reconciliation 
                                                                   of samples occurs prior to commencement 
                                                                   of sample preparation for assaying. 
------------------  -------------------------------------------  ------------------------------------------------- 
 Audits              The results of any audits or                 Sampling techniques and procedures, 
  or reviews          reviews of sampling techniques               as well as QA/QC data, are reviewed 
                      and data.                                    internally an ongoing basis. Mr 
                                                                   Malcolm Titley (Geology Consultant, 
                                                                   Maja Mining Limited) has independently 
                                                                   reviewed the sampling techniques, 
                                                                   procedures and data. He has undertaken 
                                                                   a site visit to review and inspect 
                                                                   the application of procedures. These 
                                                                   reviews have concluded that the 
                                                                   sampling and analytical results 
                                                                   have resulted in data suitable for 
                                                                   incorporation into Mineral Resource 
                                                                   estimation. 
------------------  -------------------------------------------  ------------------------------------------------- 
 

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

 
 Criteria                        JORC Code explanation            Commentary 
                                ------------------------------- 
 Mineral             Type, reference name/number,                 The Zona 7 Prospect lies on the 
  tenement            location and ownership including             Alisos Investigation Permit PI 
  and land            agreements or material issues                6605-20 which is 100% owned by 
  tenure              with third parties such as joint             Minera de Río Alagón, 
  status              ventures, partnerships, overriding           a wholly owned subsidiary of Berkeley 
                      royalties, native title interests,           Energy Limited. 
                      historical sites, wilderness 
                      or national park and environmental           The Alisos Investigation Permit 
                      settings.                                    is currently in the second year 
                                                                   of its second three year term and 
                                                                   will expire on 4 January 2017. 
 
                                                                   No historical sites, wilderness 
                                                                   or national parks are located within 

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                                                                   the Permit. The Zona 7 Prospect 
                                                                   is located adjacent to the village 
                                                                   of Villavieja de Yeltes. 
                    -------------------------------------------  --------------------------------------------- 
                     The security of the tenure held              Tenure in the form of an Investigation 
                      at the time of reporting along               Permit has been granted and is 
                      with any known impediments to                considered secure. There are no 
                      obtaining a licence to operate               known impediments to obtaining 
                      in the area.                                 a licence to operate in this area. 
------------------  -------------------------------------------  --------------------------------------------- 
 Exploration         Acknowledgment and appraisal                 Previous exploration at Zona 7 
  done by             of exploration by other parties.             was completed initially by Junta 
  other parties                                                    de Energía Nuclear (JEN) and 
                                                                   then Empresa Nacional de Uranio 
                                                                   S.A. (ENUSA), both Spanish state 
                                                                   run companies, from the late 1950's 
                                                                   through to the mid 1980's. Work 
                                                                   completed by JEN and ENUSA included 
                                                                   mapping, radiometric surveys, trenching 
                                                                   and diamond (DD) and open-hole 
                                                                   (OH) drilling. 
 
                                                                   A detailed data assessment and 
                                                                   verification of the historic data 
                                                                   supplied by ENUSA has been undertaken. 
                                                                   No significant issues with the 
                                                                   data were detected. 
------------------  -------------------------------------------  --------------------------------------------- 
 Geology             Deposit type, geological setting             The uranium mineralisation is hosted 
                      and style of mineralisation.                 within Ordovician metasediments 
                                                                   adjacent to granite. The mineralisation 
                                                                   typically occurs as a sub-horizontal 
                                                                   to shallowly dipping layer occurring 
                                                                   between surface and 100m depth. 
                                                                   The style of the uranium mineralisation 
                                                                   includes veins, stockwork and disseminated 
                                                                   mineralisation in joint/fracture 
                                                                   filling associated with brittle 
                                                                   deformation. Uraninite and coffinite 
                                                                   are the primary uranium minerals. 
                                                                   Secondary uranium mineralisation 
                                                                   is developed in "supergene-like" 
                                                                   tabular zones corresponding to 
                                                                   the depth of weathering. Most of 
                                                                   the mineralisation is hosted within 
                                                                   partially weathered and unweathered 
                                                                   metasediment. This deposit falls 
                                                                   into the category defined by the 
                                                                   International Atomic Energy Association 
                                                                   (IAEA) as Vein Type, Sub Type Iberian 
                                                                   Type. 
------------------  -------------------------------------------  --------------------------------------------- 
 Drill hole          A summary of all information                 Details of all reported drill holes 
  Information         material to the understanding                are provided in Appendix A of this 
                      of the exploration results including         release. 
                      a tabulation of the following 
                      information for all Material 
                      drill holes: 
                      o easting and northing of the 
                      drill hole collar 
                      o elevation or RL (Reduced Level 
                      - elevation above sea level 
                      in metres) of the drill hole 
                      collar 
                      o dip and azimuth of the hole 
                      o down hole length and interception 
                      depth 
                      o hole length. 
                    -------------------------------------------  --------------------------------------------- 
                     If the exclusion of this information         All of this information is Material 
                      is justified on the basis that               and has been included in Appendix 
                      the information is not Material              A of this release. 
                      and this exclusion does not 
                      detract from the understanding 
                      of the report, the Competent 
                      Person should clearly explain 
                      why this is the case. 
------------------  -------------------------------------------  --------------------------------------------- 
 Data aggregation    In reporting Exploration Results,            Reported drill intersections are 
  methods             weighting averaging techniques,              based on chemical assay data and 
                      maximum and/or minimum grade                 are calculated using a 200ppm U(3) 
                      truncations (eg cutting of high              O(8) cut-off, no high grade cut, 
                      grades) and cut-off grades are               and may include up to 2m of internal 
                      usually Material and should                  dilution. 
                      be stated. 
                    -------------------------------------------  --------------------------------------------- 
                     Where aggregate intercepts incorporate       High grade intervals that are internal 
                      short lengths of high grade                  to broader zones of uranium mineralisation 
                      results and longer lengths of                are reported as included intervals. 
                      low grade results, the procedure 
                      used for such aggregation should 
                      be stated and some typical examples 
                      of such aggregations should 
                      be shown in detail. 
                    -------------------------------------------  --------------------------------------------- 
                     The assumptions used for any                 No metal equivalent values are 
                      reporting of metal equivalent                used. 
                      values should be clearly stated. 
------------------  -------------------------------------------  --------------------------------------------- 
 Relationship        These relationships are particularly         All drilling is planned in such 
  between             important in the reporting of                a way as to intersect expected 
  mineralisation      Exploration Results. If the                  mineralisation in a perpendicular 
  widths              geometry of the mineralisation               manner. The uranium mineralisation 
  and intercept       with respect to the drill hole               is interpreted to be flat lying 
  lengths             angle is known, its nature should            to shallowly dipping so the majority 
                      be reported.                                 of the RC holes have been drilled 
                                                                   vertically. The reported down-hole 
                                                                   intervals are therefore interpreted 
                                                                   to approximate true widths. 
                    -------------------------------------------  --------------------------------------------- 
                     If it is not known and only                  The reported down-hole intervals 
                      the down hole lengths are reported,          are interpreted to approximate 
                      there should be a clear statement            true widths. 
                      to this effect (eg 'down hole 
                      length, true width not known'). 

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