Berkeley Eng Regulatory News (BKY)

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 12 July 2021

Permitting Update

Berkeley Energia Limited ("Berkley" or the "Company") notes that the Board of the Nuclear Safety Council ("NSC") has issued an unfavourable report for the grant of the Authorisation for Construction for the uranium concentrate plant as a radioactive facility ("NSC II") following a board meeting held today. The Company has not received any official notification from the NSC however, it notes that the outcomes of the NSC board meeting have been published on their website.

The Company is extremely disappointed that the NSC has reached this decision and strongly refutes their assessment. As previously reported, all documentation submitted by the Company in relation to NCS II has been prepared following advice from independent, nationally and internationally recognised advisors and consultants who are experts in their field. Since the commencement of the process in 2016, the NSC has to date held six meetings with the Company and on seven occasions requested additional information in relation to NSC II; which the Company has promptly responded to with updated information. It is also important to note that, in the Company's view, a large part of the additional information requested by the NSC relates to the Authorisation for Operation for the uranium concentrate plant as a radioactive facility ("NSC III") which should only be dealt with following the award of NSC II. However, to ensure the process was conducted in a collaborative manner, the Company provided its responses to the NSC as requested.

It should also be noted that more than 120 previous permits and favourable reports have been granted by the relevant authorities at the local, regional, federal and European Union levels in relation to the Salamanca project, among which nine have been from the NSC. NSC II is the only pending approval required to commence full construction of the Salamanca mine.

The Company will strongly defend its position and will immediately consider the range of legal options available to it in relation to the adverse decision by the NSC.

The Company will continue to update the market on any material developments.

For further information please contact:

Robert Behets Francisco Bellón

Acting Managing Director Chief Operations Officer

+61 8 9322 6322 +34 91 555 1380

info@berkeleyenergia.com

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