Berkeley Eng Regulatory News (BKY)

BERKELEY RESOURCES LIMITED

AIM RELEASE | 17 JUNE 2015  | ASX/AIM:BKY

APPOINTMENT OF MANAGING DIRECTOR

Berkeley Resources Limited ('Berkeley' or 'the Company') is pleased to announce the appointment of Mr Paul Atherley as Managing Director of the Company based in London with effect from 1 July 2015.

Mr Atherley is an accomplished mining executive with over 30 years resource industry experience in UK, Australia and China. The Board is delighted that an executive of Mr Atherley's calibre has agreed to join the Company at a pivotal time in the development of Berkeley's wholly owned flagship Salamanca Project in Western Spain and is confident that the appointment will greatly enhance the Company's ability to fulfil its vision of becoming a uranium producer in the near to medium term.

Mr Atherley is a Mining Engineer from Imperial College London and holds postgraduate qualifications including an MBA and has held numerous senior executive and board positions during his career. He served as Executive Director of the Investment Bank arm of HSBC Australia where he undertook a range of advisory roles in the resources sector. He has completed a number of acquisitions and financings of resource projects in Australia, South East Asia, Africa and Western Europe, and has well-established relationships with European and Australian capital markets.

As the Managing Director of ASX/AIM listed Leyshon Resources Limited, Mr Atherley was responsible for the exploration, development and successful sale of the Zheng Guang Gold-Zinc Project in Northern China. Having been based in Beijing since 2005, he has developed strong connections within Chinese business, industry bodies and senior government officials, including the most senior levels of the state owned energy companies.

Until recently he was the Chairman of the British Chamber of Commerce in China, Vice Chairman of the China Britain Business Council in London and served on the European Union Energy Working Group in Beijing. He has been a regular business commentator on China, hosting events in Beijing and appearing on CCTVNews and China Radio International.

Berkeley is focused on advancing the Salamanca Project through the development phase. The results of a Pre-Feasibility Study confirmed the Project's potential to support a significant scale, long life, low cost uranium operation.

The Project is now at the Definitive Feasibility Study stage with a number of key work programs well advanced and a number of the important development approvals already granted. Mr Atherley's immediate focus will be the integration of the high grade Zona 7 deposit into the project's development plans, thereby potentially increasing the scale of the project and to arrange the project's development finance. He will also be marketing the Company to investors in Europe, Asia and Australia as well as to potential strategic and off-take partners.

Enquiries: Paul Atherley John Prior / Paul Gillam

+86 137 1800 1914 Numis Securities - Nomad & Broker

+44 (0) 207 260 1000

Remuneration

Mr Atherley will be engaged as Managing Director under a consultancy deed with North Asia Metals Ltd ('NAML') on a rolling 12 month term and either party may terminate with three months written notice. NAML will receive an annual consultancy fee of £225,000 and will be eligible for an annual bonus of up to £125,000 to be paid upon successful completion of key performance indicators as determined by the Board of Directors.

NAML (or its nominee) will be granted the following incentive options:

· 2,000,000 incentive options exercisable at £0.15 each on or before 30 June 2018; and

· 2,000,000 incentive options exercisable at £0.20 each on or before 30 June 2019.

Subject to Shareholder approval, NAML will also be granted 1,600,000 performance rights pursuant to the Berkeley Resources Limited Performance Rights Plan. The performance rights will be granted in three tranches and be subject to various key project development milestones for the Salamanca Project with milestone dates between 31 December 2016 and 31 December 2018.

Details of a revised Performance Rights Plan will be announced shortly and put to Shareholders.

Rule 17 Information

Further information on Mr Atherley as required by Rule 17 and Schedule 2(g) of the AIM Rules for Companies:

Paul Campbell Atherley, aged 59.

Mr Atherley has a 0.47% shareholding in the Company.

Other information

Mr Atherley is a director of Renison Bell Limited. In June 2003, Renison Bell Limited was placed into voluntary administration. In December 2003, that company entered into a Deed of Company Arrangement with its creditors. Mr Atherley was also a director of Minerals International NL. In January 1999, at the request of the directors, Minerals International NL was placed into voluntary liquidation.