Berkeley Energia (BKY.L) Urbanism Licence Granted for Retortillo

Berkeley Energia Limited (“Berkley” or the “Company”) is pleased to announce that the Urbanism License (“UL”) has been granted by the Municipality of Retortillo under the terms established in the Urbanism Law and Urban Planning Regulations of Castilla y León. The UL is a land use permit needed for construction works at the Salamanca mine.

The grant of the UL is a significant permitting milestone for Berkeley and a positive step in the development of the project. The Authorisation for Construction for the uranium concentrate plant as a radioactive facility (“NSC II”) is now the only pending approval required to commence full construction of the Salamanca mine.

In late March 2020, the Company formally submitted updated official documentation in relation to the NSC II and has since held a number of meetings (via teleconference calls) with the Nuclear Safety Council (” NSC”) technical team to discuss and clarify minor queries on the updated documentation. As requested by the NSC, the Company is currently preparing written responses to these queries and will complete this task in the coming weeks. Following submission of the written responses, the next step in the process is for the NSC technical team to finalise its report and submit it to the NSC Board for ratification.

In July 2020, the NSC issued a favourable report for the extension of the validity of the Initial Authorisation for the uranium concentrate plant as a radioactive facility (“NSC I”). NSC I was granted in September 2015, with a 5-year validity period. The next step is for the Ministry for Ecological Transition and the Demographic Challenge to approve this authorisation and set its duration period.

The Company will continue to engage with the relevant authorities in a collaborative manner and maintain strong engagement with all key stakeholders in Spain, as it progresses the approvals required to commence full construction of the Salamanca mine and bring it into production.

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