Berkeley Energia Ltd.: Hochgradige Abschnitte unterhalb von Zona 7 weisen auf Ressourcenhochstufung hin

Hochgradige Abschnitte unterhalb von Zona 7 weisen auf Ressourcenhochstufung hin Unterhalb der Lagerstätte Zona 7 wurden weitere hochgradige Abschnitte entdeckt, was frühere Hinweise unterstützt, wonach die Mineralisierung unterhalb der zurzeit definierten Ressource weiterverläuft. Die Ergebnisse von weiteren vier Bohrlöchern, die in der oberflächennahen Lagerstätte Zona 7 gebohrt und auf eine maximale Tiefe von 271 Metern erweitert wurden, lieferten gemeldete Gehalte, die mit dem Durchschnittsgehalt der Ressource Zona 7 übereinstimmen oder höher waren. Die herausragenden Abschnitte beinhalten: - 14 m mit 1.776 ppm U3O8 - einschl. 8 m mit 2.644 ppm U3O8 - 26 m mit 1.103 ppm U3O8 - einschl. 4 m mit 3.973 ppm U3O8 - 10 m mit 635 ppm U3O8 - einschl. 1 m mit 2.246 ppm U3O1 - 14 m mit 597 ppm U3O8 - einschl. 8 m mit 1.204 ppm U3O2 - 17 m mit 563 ppm U3O8 - einschl. 2 m mit 1.160 ppm U3O8 Die Bohrungen bei Zona 7 sind Teil des laufenden Explorationsprogramms bei zahlreichen wichtigen Zielen beim Projekt Salamanca. Die Bohrungen unterhalb von Zona 7 vervollständigen die drei Bohrlöcher, die in diesem Jahr gebohrt wurden und in denen hochgradige Abschnitte von bis zu 14 Metern mit 4.481 Teilen pro Million U3O8 gemeldet wurden (siehe Meldung vom 27. Januar 2016). Managing Director Paul Atherley sagte: Angesichts der vorübergehenden Auswirkung, die die oberflächennahe, hochgradige Lagerstätte Zona 7 auf die Wirtschaftlichkeit des Projektes hatte, wird das Hauptaugenmerk des aktuellen Explorationsprogramms darauf gerichtet werden, mehr davon zu finden. Weitere hochgradige Abschnitte unmittelbar unterhalb von Zona 7 sind äußerst vielversprechend und weisen auf eine potenzielle Ressourcenhochstufung bei der Lagerstätte hin. Für weitere Informationen kontaktieren Sie bitte: Paul Atherley- Managing Director- +44 207 478 3900- info@berkeleyenergia.com Hugo Schumann Commercial Manager +44 207 478 3900 Anhang A: Detaillierte Ergebnisse Bohrprogramm Im Rahmen des Programms, das ursprünglich konzipiert worden war, um eine Mineralisierung unterhalb und südlich von Zona 7 zu suchen und um eine Reihe von Zielen innerhalb eines Radius von zehn Kilometern der geplanten Retortillo-Anlage zu erproben, wurden bis dato 83 RC-Bohrlöcher auf insgesamt 5.900 Metern abgeschlossen. Der Großteil der Bohrlöcher wurde in Abständen von 50 Metern entlang eines Abschnitts gebohrt, wobei zwischen den Abschnitten ein Abstand von 400 Metern eingehalten wurde. Die Analysedaten von vier der abgeschlossenen Bohrlöcher sind eingetroffen. Ein Teil der Ergebnisse ist hierin angegeben, die restlichen Ergebnisse werden veröffentlicht, sobald sie verfügbar sind. In den kommenden zwei Monaten werden acht weitere Bohrlöcher abgeschlossen werden, die allesamt die Mineralisierung unterhalb der Lagerstätte Zona 7 anpeilen. Die Ergebnisse werden gemeldet, sobald sie verfügbar sind. Das Bohrprogramm ist Teil einer Strategie zur Aufrechterhaltung der jährlichen Produktion beim Projekt Salamanca von über vier Millionen Pfund, die erzielt werden wird, indem manche der 29,6 Millionen Pfund der bestehenden abgeleiteten Ressourcen in den Minenplan aufgenommen werden, die Ressource bei Zona 7 erweitert wird und neue Entdeckungen in der Region gemacht werden. Ergebnisse Die hierin gemeldeten Bohrlöcher wurden durch die oberflächennahe Lagerstätte Zona 7 gebohrt und auf eine maximale Bohrlochtiefe von 271 Metern erweitert. Die Untersuchungsergebnisse bestätigen das Vorkommen von Zonen mit hochgradigen Mineralisierungen unterhalb von Zona 7 (Abbildung 1). Bei Zona 7 wurden in Oberflächennähe und in der Tiefe (zwischen drei und der maximalen Tiefe von 255 Metern) bedeutsame hochgradige Abschnitte mit Mächtigkeiten von bis zu 26 Metern verzeichnet. Ausgewählte Abschnitte beinhalten: Bohrlochnr.Tiefenabschnitt Von Tiefe (Bohrlochti efe) Z7R-357 10 m mit 635 ppm U3O30 m 8 39 m 43 m einschl. 1 m mit 43 m 2.246 ppm 248 m U 254 m 3O8 26 m mit 1.103 ppm U 3 O8 einschl. 4 m mit 3.973 ppm U 3O8 2 m mit 461 ppm U3O8 1 m mit 762 ppm U3O8 Z7R-358* 5 m mit 526 ppm U3O848 m Z7R-359* 10 m mit 494 ppm U3O47 m 8 Z7R-360 14 m mit 597 ppm U3O12 m 8 29 m 39 m 6 m mit 457 ppm U3O863 m 4 m mit 639 ppm U3O866 m 17 m mit 563 ppm U3O113 m 8 207 m 212 m einschl. 2 m mit 1.160 ppm U 3O8 6 m mit 480 ppm U3O8 14 m mit 1.776 ppm U 3 O8 einschl. 8 m mit 2.644 ppm U 3O8 - * Bohrlöcher, die die angepeilte Tiefe aufgrund schwieriger Bodenbedingungen nicht erreicht haben und aufgegeben wurden Alle bedeutsamen Abschnitte der abgeschlossenen Bohrungen sowie die Details zur Position des Bohrkragens, zur Bohrlochausrichtung und zur Tiefe sind in Anhang B zusammengefasst. Geologische Beschaffenheit Zona 7 ist eine erzgangartige Lagerstätte, die sich in einer Reihe feinkörniger Metasedimente befindet, die unterhalb einer Konglomerateinheit und neben einer Granitintrusion liegt (Abbildungen 1, 2 und 3). Die mineralisierte Hülle ist im Allgemeinen subhorizontal und die Mineralisierung ist in einem Erzgang-Stockwork enthalten. Die Uranmineralisierung kommt sowohl in der partiell verwitterten Zone als auch in frischem Gestein vor. In der südlichen Erweiterung variiert die Deckschicht aus dem Känozoikum zwischen einem und zwölf Metern. http://www.irw-press.at/prcom/images/messages/2016/37634/160905 High grade intercepts below Zona 7 point to resource upgrade_fina _DE_PRCOM.001.png http://www.irw-press.at/prcom/images/messages/2016/37634/160905 High grade intercepts below Zona 7 point to resource upgrade_fina _DE_PRCOM.002.png Frühere Tiefenbohrlöcher Abbildung 1: Bohrplan http://www.irw-press.at/prcom/images/messages/2016/37634/160905 High grade intercepts below Zona 7 point to resource upgrade_fina _DE_PRCOM.003.png http://www.irw-press.at/prcom/images/messages/2016/37634/160905 High grade intercepts below Zona 7 point to resource upgrade_fina _DE_PRCOM.004.png Frühere RC-Bohrlöcher Abbildung 2: Zona 7 Querschnitt A http://www.irw-press.at/prcom/images/messages/2016/37634/160905 High grade intercepts below Zona 7 point to resource upgrade_fina _DE_PRCOM.005.png http://www.irw-press.at/prcom/images/messages/2016/37634/160905 High grade intercepts below Zona 7 point to resource upgrade_fina _DE_PRCOM.006.png Frühere RC-Bohrlöcher Abbildung 3: Zona 7 Querschnitt B Erklärung der Competent Persons Die Informationen in dieser Meldung, die sich auf Explorationsergebnisse von Zona 7 beziehen, basieren auf Informationen von Malcolm Titley, einer Competent Person und eines Mitglieds des Australasian Institute of Mining and Metallurgy. Herr Titley ist ein Angestellter von Maja Mining Limited, einem unabhängigen Beratungsunternehmen. Herr Titley verfügt über ausreichende Erfahrung, die für diese Art von Mineralisierung und Lagerstätte sowie für seine Tätigkeiten erforderlich ist, um als Competent Person gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves definiert werden zu können. Herr Titley erlaubt das Hinzufügen von Material zu diesem Bericht, das auf seinen Informationen basiert und in Form und Kontext erscheint. Die Daten in dieser Meldung, die sich auf die Mineralressourcen beziehen, stammen von der Meldung vom 14. Juli 2016 mit dem Titel Study confirms the Salamanca project as one of the worlds lowest cost uranium producers, die auf der Website von Berkeley Energia Limited (Berkeley) unter www.berkeleyenergia.com verfügbar ist. Berkeley bestätigt, dass a) ihm keine neuen oder andere Daten vorliegen, die sich erheblich auf die in der ursprünglichen Pressemitteilung angegebenen Daten auswirken; b) alle Materialannahmen und technischen Parameter hinsichtlich der Mineralressourcen, die in der ursprünglichen Meldung enthalten sind, nach wie vor gelten und sich nicht erheblich geändert haben; und c) die Form und der Kontext, in denen die Ergebnisse der entsprechenden Competent Persons in dieser Meldung dargestellt werden, gegenüber den ursprünglichen Meldungen nicht erheblich geändert wurden. Die Daten in der ursprünglichen Meldung, die sich auf die Mineralressourcen beziehen, basieren auf Informationen von Malcolm Titley, einer Competent Person und eines Mitglieds des Australasian Institute of Mining and Metallurgy. Herr Titley ist ein Angestellter von Maja Mining Limited, einem unabhängigen Beratungsunternehmen. Herr Titley verfügt über ausreichende Erfahrung, die für diese Art von Mineralisierung und Lagerstätte sowie für seine Tätigkeiten erforderlich ist, um als Competent Person gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves definiert werden zu können. Zukunftsgerichtete Aussagen Aussagen zu Plänen im Hinblick auf die Mineralkonzessionsgebiete Berkeley´s sind zukunftsgerichtete Aussagen. Es kann nicht gewährleistet werden, dass die Pläne Berkeley´s für die Erschließung seiner Konzessionsgebiete wie gegenwärtig erwartet umgesetzt werden können. Es kann zudem nicht garantiert werden, dass Berkely in der Lage sein wird, weitere Minerallagerstätten abzugrenzen, dass sich die Mineralisierung als wirtschaftlich erweisen wird oder dass in den Mineralkonzessionsgebieten Berkeley´s jemals eine Mine erschlossen werden wird. Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte beachten Sie die englische Originalmeldung auf www.sedar.com , www.sec.gov , www.asx.com.au/ oder auf der Firmenwebsite! Appendix B Summary of RC Drill Intersections- Zona 7 Deep (200 ppm U3O8 cut-off) Drill EastNorthElevatAzimuDiDept FroTo InteU3O8 Hole ing ing ion th p h m (m)rval (pp ID m) (m) (m) (m) (o) (o(m) (m) (m) ) Z7R-35713945273755 360 -9271 30 40 10 635 7 55 76 0 in39 40 1 2,24 cl 6 . 43 69 26 1,10 3 in43 47 4 3,97 cl 3 . in56 57 1 1,25 cl 6 . in65 66 1 4,92 cl 8 . 88 89 1 264 2482502 461 2542551 762 Z7R-35714045273764 360 -997 38 40 2 539 8* 44 30 0 48 53 5 526 61 62 1 266 Z7R-35714045272766 360 -999 32 34 2 262 9* 55 81 0 39 41 2 312 47 57 10 494 in49 50 1 1,15 cl 4 . 91 92 1 433 Z7R-36713845271755 360 -9251 12 26 14 597 0 60 96 0 in17 19 2 1,20 cl 4 . in24 25 1 1,11 cl 7 . 29 35 6 457 in32 33 1 1,21 cl 4 . 39 43 4 639 in42 43 1 1,48 cl 6 . 63 80 17 563 in66 68 2 1,16 cl 0 . in70 71 1 1,61 cl 5 . 83 92 9 200 1131196 480 in1161171 1,26 cl 2 . 1281302 431 1361382 323 1411432 924 in1421431 1,38 cl 5 . 1571581 381 20722114 1,77 6 in2072103 1,00 cl 4 . in2122208 2,64 cl 4 . * drill holes failed to reach the target depth due to difficult ground conditions and were terminated Appendix C: JORC Code, 2012 Edition - Table 1 report Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) CriteriJORC Code explanation Commentary a SamplinNature and quality of All results reported are from g sampling Reverse Circulation (RC) techni ( drill samples collected over ques eg cut channels, random one metre (1m) intervals. chips, or specific Multiple methods were used to specialised industry determine uranium standard measurement mineralisation intervals tools appropriate to the including down hole gamma minerals under analysis, hand held investigation, such as down scintillometer measurements and portable XRF analysis. hole gamma sondes, or Intervals containing uranium handheld XRF instruments, mineralisation were selected and submitted for laboratory etc). These examples assay should not be taken as analysis. limiting the broad meaning of sampling. Include reference to Standards and blanks are measures taken to ensure inserted into the sample sample stream to assess the accuracy, precision and representivity and the methodology of the external appropriate calibration laboratories used. In of any measurement tools addition, field duplicate or systems samples are inserted to used. assess the variability of the uranium mineralisation. Approximately 15-20% of all samples relate to quality control. In addition, the laboratories undertake their own duplicate sampling as part of their internal QA/QC processes. Examination of the QA/QC sample data indicates satisfactory performance of field sampling protocols and assay laboratories providing acceptable levels of precision and accuracy. Drill hole collar locations are surveyed by qualified surveyors ( Cubica Ingeniería Metrica S.L) using standard differential GPS (DGPS) equipment achieving sub decimetre accuracy in horizontal and vertical position. Down-hole surveys are undertaken using a Geovista down-hole deviation probe. Measurements are taken every 1cm down hole and averaged every 10m. No strongly magnetic rocks are present within the deposit which may affect magnetic based readings. Aspects of the RC drill samples are collected determination of over 1m intervals, manually mineralisation that are homogenised before being Material to the Public split on site using a three Report. In cases where tier riffle splitter to industry standard work provide an approximate 3-5kg has been done this would sample. In rare cases, wet be relatively simple samples are split using a ( cone and quarter eg reverse circulation method. drilling was used to obtain 1 m samples from which 3 kg was pulverised Scintillometer measurements to produce a 30 g charge are taken on all samples and for fire assay). In this data is used to select other cases more the samples to be sent to explanation may be external laboratories for required, such as where sample preparation and there is coarse gold that analysis. Indicative has inherent sampling mineralised intervals are problems. Unusual determined from this data and commodities or the sampling extended up and mineralisation types down hole by at least 2-5m. ( eg submarine nodules) may warrant disclosure of detailed Samples are further split in information. the core shed using a scoop such that 0.7-1kg samples are sent to the preparation laboratories of ALS (Seville, Spain) and analytical laboratory of ALS ( Loughrea, Ireland). Samples are dried, fine crushed down to 70% below 2mm, split to obtain 250g and pulverised with at least 85% of the sample passing 75µm. 10g of sample is used for uranium analysis by pressed powder X-ray fluorescence (XRF) method. DrillinDrill type (eg core, Drilling was by the RC method g reverse circulation, drilling using a 140mm techni open-hole hammer, rotary diameter face sampling ques air blast, auger, Bangka, hammer. sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drill Method of recording and RC drill samples are collected sample assessing core and chip over 1m intervals through a recove sample recoveries and cyclone. Plastic sample bags ry results are strapped to the cyclone assessed. to maximise sample recovery. Individual sample bags are not weighed to assess sample recovery but a visual inspection is made by the Company geologist to ensure all samples are of approximately equivalent size. Measures taken to maximise The RC drilling rigs utilised sample recovery and suitably sized compressors to ensure representative ensure dry samples where nature of the possible. Plastic sample bags samples. are strapped to the cyclone to maximise sample recovery. Sample logs record whether the sample is dry, moist or wet. Whether a relationship There is no known relationship exists between sample between sample recovery and recovery and grade and grade. The RC sample whether sample bias may recoveries are of an have occurred due to acceptable level and no bias preferential loss/gain of is expected from any sample fine/coarse losses. material. LoggingWhether core and chip Geological logging of RC chip samples have been samples includes recording geologically and descriptions of lithology, weathering, alteration and geotechnically logged to a mineralisation. A level of detail to support appropriate scintillometer reading of Mineral Resource counts per second (cps) is estimation, mining recorded for each 1m sample studies and metallurgical (quantitative). studies. Whether logging is Geological logging is qualitative or qualitative in nature. RC quantitative in nature. samples and chip trays are Core (or photographed. costean, channel, etc) photography. The total length and All RC drill holes are logged percentage of the in full by Company relevant intersections geologists. logged. Sub-samIf core, whether cut or Not Applicable - RC drilling pling sawn and whether quarter, only. techni half or all core ques taken. and If non-core, whether RC drill samples are collected sample riffled, tube sampled, at 1m intervals. RC intervals prepar rotary split, are sampled by splitting dry ation samples in the field to 3-5kg etc and whether sampled using a three tier riffle wet or splitter and further split in dry. the core shed to 0.7-1kg using a scoop. Where samples are wet they are dried prior to spitting. In rare cases, wet samples are split using a cone and quarter method. For all sample types, the Samples are sent to ALS nature, quality and laboratories for preparation. appropriateness of the Samples are dried, fine sample preparation crushed down to 70% below 2mm technique. and pulverised with at least 85% of the sample passing 75µm. 10g of sample is used for uranium analysis by pressed powder XRF method. This is considered appropriate for this style of uranium mineralisation. Quality control procedures Previous field tests have adopted for all determined that the sample sub-sampling stages to size and method of sampling maximise produce representative RC samples. QA/QC procedures representivity of samples. involve the use of standards, duplicates and blanks which are inserted into sample batches at a frequency of approximately 15-20%. Measures taken to ensure Duplicate splits of RC samples that the sampling is are taken every 10m down hole representative of the in within the sampled intervals. situ material collected, The results from these including for instance duplicates generally show results for field acceptable duplicate/second-half repeatability. sampling. Whether sample sizes are The uranium is typically very appropriate to the grain fine grained. Previous test size of work carried the material being sampled.out by Berkeley using different sample sizes has demonstrated that the selected sample size is appropriate. QualityThe nature, quality and Uranium analysis by pressed of appropriateness of the powder XRF method. This assay assaying and laboratory analytical method reports data procedures used and total uranium and whether the technique is content. labora considered partial or tory total. tests For geophysical tools, Down-hole gamma logging is spectrometers, handheld undertaken for all probe XRF instruments, accessible drill holes to provide etc, the parameters used eU in determining the 3O8 (equivalent U3O8 grade) analysis including data however, it is not instrument make and currently considered of model, reading times, sufficient quality to replace calibrations factors chemical assay data for the applied and their purposes of reporting derivation, drilling results at etc. Zona 7. The drill intersections reported in this release are calculated using only chemical assay data. Nature of quality control Standards, blanks and procedures adopted duplicates are regularly ( inserted into the sample eg standards, blanks, stream with approximately duplicates, external 15-20% of all samples related laboratory checks) and to quality control. The whether acceptable levels external laboratories used of accuracy also maintain their own ( process of QA/QC utilising ie lack of bias) and standards, pulp repeats, precision have been sample duplicates and established. blanks. Review of the Berkeley quality control samples, as well as the external laboratory quality QA/QC reports, has shown no sample preparation issues, acceptable levels of accuracy and precision and no bias in the analytical datasets. VerificThe verification of Reported significant ation significant intersections intersections have been of by either independent or checked and verified by sampli alternative company Senior Geological management. ng and personnel. assayi ng The use of twinned holes. No twinned holes were drilled in the current RC drilling program. Documentation of primary All primary data is recorded data, data entry in templates designed by procedures, data Berkeley. Assay data from the verification, data external laboratory is storage (physical and received in spreadsheets and electronic) downloaded directly into an protocols. Access Database managed by the Company. Data is entered into controlled excel templates for validation. The validated data is then loaded into a password secured relational database by a designated Company geologist. Daily backups of all digital data are undertaken. These procedures are documented in the Berkeley Technical Procedures and Protocols manual. Discuss any adjustment to Uranium (ppm) assays received assay from the external laboratory data. are converted to U 3O8 (ppm) using the stoichiometric factor of 1.179. LocatioAccuracy and quality of Drill hole collar locations n of surveys used to locate are surveyed by qualified data drill holes (collar and surveyors points down-hole surveys), ( trenches, mine workings Cubica Ingeniería Metrica S.L) and other locations used using standard differential in Mineral Resource GPS (DGPS) equipment estimation. achieving sub decimetre accuracy in horizontal and vertical position. Down-hole surveys are undertaken using a Geovista down-hole deviation probe. Measurements are taken every 1cm down hole and averaged every 10m. No strongly magnetic rocks are present within the deposit which may affect magnetic based readings. Specification of the grid The grid system is ETRS 1989 system UTM Zone used. 29N. Quality and adequacy of Topographic control is based topographic on a digital terrain model control. with sub metric accuracy sourced from the Spanish Geographical Institute ( Instituto Geográfico Nacional) and is verified through detailed drill hole collar surveys by a qualified surveyor using a DGPS. Data Data spacing for reporting This RC drilling program has spacin of Exploration been designed to cross g and Results. significant mineralization. distri bution Whether the data spacing The data spacing is not and distribution is considered sufficient to sufficient to establish assume geological and grade the degree of geological continuity, and will not and grade continuity allow the estimation of appropriate for the Mineral Resources on Mineral Resource and Ore deep. Reserve estimation procedure(s) and classifications applied. Whether sample compositing No compositing of RC samples has been in the field has been applied. undertaken. OrientaWhether the orientation of Shallow parts of the deposit tion sampling achieves show that the mineralised of unbiased sampling of zone strikes data possible structures and northeast-southwest and is in the extent to which this interpreted to be relati is known, considering the sub-horizontal (due to post on to deposit mineralisation supergene geolog type. processes) to shallowly ical dipping. struct ure If the relationship All of the RC drill holes between the drilling reported in this release are orientation and the vertical. Due to the orientation of key interpreted flat lying nature mineralised structures is of the mineralisation, no considered to have sampling bias is considered introduced a sampling to have been introduced by bias, this should be the orientation of the assessed and reported if drilling. material. Sample The measures taken to Chain of custody is managed by securit ensure sample Berkeley. Samples are y security. transported from the drill site by Company vehicle to a sample preparation shed where samples are prepared for dispatch. Samples are sent directly from the sample preparation shed to the laboratory using a certified courier or a Berkeley owned vehicle authorised for radioactive materials transport. No other freight is transported with the samples which are taken directly from the Berkeley facility to the external laboratory. Sample submission forms are sent in paper form with the samples as well as electronically to the laboratory. Reconciliation of samples occurs prior to commencement of sample preparation for assaying. Audits The results of any audits Sampling techniques and or or reviews of sampling procedures, as well as QA/QC review techniques and data, are reviewed internally s data. an ongoing basis. Mr Malcolm Titley (Geology Consultant, Maja Mining Limited) has independently reviewed the sampling techniques, procedures and data. He has undertaken a site visit to review and inspect the application of procedures. These reviews have concluded that the sampling and analytical results have resulted in data suitable for incorporation into Mineral Resource estimation. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) CriteriJORC Code explanation Commentary a Mineral Type, reference The Zona 7 Prospect lies on tenemen name/number, location the t and and ownership including land agreements or material Alisos Investigation Permit PI tenure issues with third 6605-20 which is 100% owned status parties such as joint by ventures, partnerships, overriding royalties, Minera de Río Alagón, a wholly native title interests, owned subsidiary of Berkeley historical sites, wilderness or national Energia Limited. park and environmental settings. The Alisos Investigation Permit is currently in the first year of its third three year term and will expire on 5 January 2017. No historical sites, wilderness or national parks are located within the Permit. The Zona 7 Prospect is located adjacent to the village of Villavieja de Yeltes. The security of the Tenure in the form of an tenure held at the time Investigation Permit has been of reporting along with granted and is considered any known impediments to secure. There are no known obtaining a licence to impediments to obtaining a operate in the licence to operate in this area. area. ExploratAcknowledgment and Previous exploration at Zona 7 ion appraisal of exploration was completed initially by done by other Junta de by parties. other Energía Nuclear (JEN) and then parties Empresa Nacional de Uranio S.A. (ENUSA), both Spanish state run companies, from the late 1950's through to the mid 1980's. Work completed by JEN and ENUSA included mapping, radiometric surveys, trenching and diamond (DD) and open-hole (OH) drilling. A detailed data assessment and verification of the historic data supplied by ENUSA has been undertaken. No significant issues with the data were detected. Geology Deposit type, geological The uranium mineralisation is setting and style of hosted within Lower Cambrian mineralisation. metasediments adjacent to granite. The mineralisation typically occurs as a sub-horizontal to shallowly dipping layer occurring between surface and 100m depth, although mineralisation has been recorded to a maximum depth of 255m in the current RC holes. The style of the uranium mineralisation includes veins, stockwork and disseminated mineralisation in joint/fracture filling associated with brittle deformation. Uraninite and coffinite are the primary uranium minerals. Secondary uranium mineralisation is developed in "supergene-like" tabular zones corresponding to the depth of weathering. Most of the mineralisation is hosted within partially weathered and unweathered metasediment. This deposit falls into the category defined by the International Atomic Energy Association (IAEA) as Vein Type, Sub Type Iberian Type. Drill A summary of all Details of all reported drill hole information material to holes are provided in Informa the understanding of the Appendix B of this tion exploration results release. including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. If the exclusion of this All of this information is information is justified Material and has been on the basis that the included in Appendix B of information is not this Material and this release. exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. Data In reporting Exploration Reported drill intersections aggrega Results, weighting are based on chemical assay tion averaging techniques, data and are calculated using methods maximum and/or minimum a 200ppm grade truncations U ( 3O8 cut-off, no high grade eg cutting of high cut, and may include up to 2m grades) and cut-off of internal grades are usually dilution. Material and should be stated. Where aggregate High grade intervals that are intercepts incorporate internal to broader zones of short lengths of high uranium mineralisation are grade results and longer reported as included lengths of low grade intervals. results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for No metal equivalent values are any reporting of metal used. equivalent values should be clearly stated. RelationThese relationships are All drilling is planned in ship particularly important such a way as to intersect between in the reporting of expected mineralisation in a mineral Exploration Results. If perpendicular manner. The isation the geometry of the uranium mineralisation is widths mineralisation with interpreted to be flat lying and respect to the drill to shallowly dipping so the interce majority of the RC holes have pt hole angle is known, its been drilled vertically. The lengths nature should be reported down-hole intervals reported. are therefore interpreted to approximate true widths. If it is not known and The reported down-hole only the down hole intervals are interpreted to lengths are reported, approximate true widths. there should be a clear statement to this effect ( eg down hole length, true width not known). DiagramsAppropriate maps and Appropriate diagrams, sections (with scales) including a drill plan and and tabulations of cross sections, are included intercepts should be in the main body of this included for any release. significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. BalancedWhere comprehensive All results are reported in reporti reporting of all Appendix B of this ng Exploration Results is release. not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Other Other exploration data, Down-hole gamma logging of all substan if meaningful and holes is undertaken to tive material, should be provide explora reported including (but eU tion not limited to): 3O8 data. Prior comparisons of data geological observations; eU geophysical survey 3O8 data with chemical assay results; geochemical data have shown that on survey results; bulk average samples - size and eU method of treatment; 3O8 tends to underestimate at metallurgical test higher grades (>600ppm) and results; bulk density, overestimate at lower grades groundwater, (<100ppm). Accordingly, the geotechnical and rock eU3O8 data is not considered characteristics; of sufficient quality to potential deleterious or replace chemical assay data contaminating for the purposes of reporting substances. drilling results. The drill intersections reported in this release are calculated using only chemical assay data. Further The nature and scale of Further work planned for the Zo work planned further work na ( 7 Prospect includes eg tests for lateral additional drilling will be extensions or depth focused on extending the extensions or mineralisation further deep large-scale step-out and infilling the current drilling). grid to facilitate future upgrading of the resource classification. Diagrams clearly These are shown in the main highlighting the areas body of this of possible extensions, release. including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

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