Berkeley Eng Regulatory News (BKY)

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 11 June 2019

Berkeley Energia welcomes municipal election result and is awarded three new exploration licences

Berkeley Energia Limited ("the Company") welcomes the result of the recent municipal election in Retortillo, the village close to the Salamanca project; and has recently been awarded exploration licences which are prospective for battery and EV metals.

Four of the five council seats were won by candidates supportive of the Company's project, one which will create a substantial number of local jobs and will support local businesses. Villagers from Retortillo and the surrounding community have consistently campaigned "Si a la Mina".

The Company continues to await the recommendation report from the Nuclear Safety Council and has appealed, along with others, the recent appointments to the Board of the Council and awaits the Supreme Court's ruling on this matter.

The Company has also been awarded three new licenses covering an area of 266 km2, located 40 km from Retortillo.

Previous geochemical analysis using ionic leach methodology has shown the licence areas to be prospective for the battery and EV metals lithium, cobalt, tin, tungsten and rare earth elements. The company is accelerating plans to further define, and test drill these targets.

The ionic leach process utilises ultra-high detection levels of mobile metal ions in the soils at surface and is one of the latest techniques developed to analyse metals at depth without drilling. This is the first time this innovative technology has been utilised in Spain.

The Company's Managing Director & CEO, Paul Atherley, commented:

"We are pleased for the villagers who have been campaigning hard for the investment to now be so well represented on the municipal council. We look forward to working with the new council in achieving the outcome that the community wants.

The Company's success to date has been built on the foundations of innovative exploration techniques to discover and delineate metals vital for society.

The demand for clean technology metals to support the global battery and EV industries is taking off. The urgent need to explore for these critical metals to provide reliable supply within the EU comes at a time when some commentators are suggesting that governments are threatening to restrict supply of these important components of the green energy revolution."

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