Berkeley Energia Limited NSC Recommends Extension of Initial Authorisation (9966T)

TIDMBKY

RNS Number : 9966T

Berkeley Energia Limited

24 July 2020

BERKELEY ENERGIA LIMITED

NEWS RELEASE | 24 July 2020

NSC Favourable Recommendation for Extension of Initial Authorisation

Berkeley Energia Limited ("Berkley" or the "Company") notes that the Board of the Nuclear Safety Council ("NSC") has issued a favourable report for the extension of the validity of the Initial Authorisation for the uranium concentrate plant as a radioactive facility at the Salamanca project ("NSC I") following a board meeting held on the 22 July 2020. The Company has not received any official notification from the NSC, however it notes that the outcomes of the NSC board meeting were published on their website on 23 July 2020.

The Initial Authorisation for the uranium concentrate plant as a radioactive facility was granted in September 2015 by the then Ministry of Industry, Energy and Tourism, with a 5-year validity period. The favourable report issued by NSC considered that the circumstances and characteristics of the uranium concentrate plant are the same as those contained in the Initial Authorisation issued in 2015. The next step is for the Ministry for Ecological Transition and the Demographic Challenge to approve this authorisation and set its duration period.

Subsequent to the grant of the NSC I, the Company applied for the Authorisation for Construction for the uranium concentrate plant as a radioactive facility ("NSC II") in 2016. In late March 2020, the Company formally submitted the updated official documentation in relation to the NSC II and have since held a number of meetings (via teleconference calls) with the NSC technical team to discuss and clarify minor queries on the updated documentation. The next step in the process is for the NSC technical team to now finalise its report and submit it to the NSC Board for ratification.

For further information please contact:

   Robert Behets                          Dylan Browne 
   Acting Managing Director          CFO and Company Secretary 

[phone]

[e-mail]

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

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July 24, 2020 02:00 ET (06:00 GMT)