Drilling Report

Berkeley Resources Limited 06 September 2007 6 September 2007 STOCK EXCHANGE ANNOUNCEMENT NEW DISCOVERY OF URANIUM MINERALISATION IN SALAMANCA, SPAIN The Directors of Berkeley Resources Limited (AIM: BKY.L) are pleased to announce a new discovery of uranium mineralisation at Santidad, 2km northwest of the Company's main Retortillo deposit. It has resulted from drill testing of radiometric anomalies in an area untouched by historical exploration within the Salamanca license area. An ongoing campaign of reverse circulation drilling at 50m intervals, along five traverses ranging from 65m to 200m apart, has intersected significant uranium mineralisation in 14 vertical drill holes over a strike length of 500m and a width of approximately 150m. This essentially flat lying mineralised zone is open along strike in both directions where significant untested radiometric anomalies are apparent, both to the southeast, towards the Retortillo deposit, and to the northeast, up to the limit of Berkeley's ground radiometric survey. Ground radiometric coverage is being extended along strike for a further two kilometres to the northeast. The mineralisation is shallow, with thicknesses ranging up to 39m and grades varying from 200-1320ppm U3O8. The 11 holes for which assays and downhole radiometrics are available, have average intersection widths of 18m at 0.034% U3O8 (200ppm cut off), and average overburden thicknesses of only about 9.5m. A table of results to date is appended and notable intersections include: • 39m from 13m at 0.044% (including 9m at 0.132% eU3O8) in SANR 028 • 30m from 5m at 0.044% (including 10m at 0.077% U3O8) in SANR 007 • 21m from surface at 0.039% (including 8m at 0.059% U3O8) in SANR 008 • 27m from 13m at 0.033% (including 11m at 0.050% eU3O8) in SANR 023 • 38m from 9m at 0.020% (including 8m at 0.049% eU3O8) in SANR 027 In addition, scintillometer readings on drill chips from holes SANR 032, 033 and 034, on the most south-easterly drill traverse, indicate continuation of the mineralisation. These holes have not yet been assayed, or logged with Berkeley's downhole radiometric instrument. The geology at Santidad is similar to Retortillo, with host rocks of Ordovician grey-black shales, bounded to the southwest by sub-cropping to outcropping quartzites. The shales have a sub-vertical penetrative S1 cleavage with an orientation of 120 to 1400. Uranium mineralisation starts between 0 and 20m below the surface and can extends up to about 50m below surface; thin granitic intrusions occur in some mineralised holes. The dominant uranium minerals appear to be secondary torbernite and autunite. A thin cover of quartzite scree and/or the remnants of Tertiary cover are common, above a thin, weak weathering profile, 1-5m thick. All holes were drilled with a face sampling hammer and geologically and radiometrically logged before being sampled (1m samples obtained by splitting the entire dust collected from the cyclone). Sample weights were consistent with expectations and little water was encountered. Holes lacking downhole radiometric anomalies were not sampled, except for one check hole. Duplicate and blank samples were included in all batches assayed for total uranium by the Delayed Neutron Count (DNC) method at Activation Laboratories Limited in Ontario, Canada. Following comparison of chemical assays and downhole radiometrics for holes SANR 007, 008 and 009, radiometric equivalent uranium grades have been calculated for all subsequent intersections by Berkeley's consultant, Roger Murphy, the former Chief Geologist of the Rossing uranium mine. These early encouraging results indicate that a substantial strike length of favourable stratigraphy remains to be tested at Santidad. Whilst results to date are very significant when considered in the context of the JORC-compliant inferred resource of 11.9m lbs of U3O8 at an average grade of 723ppm at the nearby Retortillo and Zona 7 deposits, continued success at Santidad will have the potential to strongly influence development strategies within the Salamanca license area. Drilling is continuing, with 1 RC and 2 diamond rigs working at Santidad and Retortillo. The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Peter Ellis, who is a Member of The Australian Institute of Geoscientists and a consultant of Berkeley Resources Limited. Mr Ellis has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Ellis consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Enquiries - Managing Director: Matt Syme Telephone: +61 417 906 717 Email: info@berkeleyresources.com.au TABLE 1 - Santidad Drill Results HOLE ID UTM UTM North RL Inclination End of Minimum Intersections > 200ppm U3O8 East (Approx) Hole From To Interval eU3O8 % U3O8 % SANR-001 716,296 4,522,964 756 -90 50.00 0.00 9.00 9.00 0.0359 10.00 11.00 1.00 0.0314 SANR-005 716,270 4,522,906 764 -90 50.00 0.00 4.00 4.00 0.0526 8.00 9.00 1.00 0.0266 39.00 40.00 1.00 0.0235 SANR-007 716,512 4,522,702 770 -90 60.00 5.00 35.00 30.00 0.0438 5.00 9.00 4.00 0.0220 12.00 14.00 2.00 0.0247 15.00 16.00 1.00 0.0522 17.00 20.00 3.00 0.0638 21.00 31.00 10.00 0.0770 32.00 33.00 1.00 0.0314 34.00 35.00 1.00 0.0236 38.00 39.00 1.00 0.0292 45.00 46.00 1.00 0.0336 SANR-008 716,543 4,522,748 760 -90 50.00 0.00 21.00 21.00 0.0394 SANR-009 716,570 4,522,793 751 -90 50.00 4.00 5.00 1.00 0.0205 6.00 7.00 1.00 0.0218 SANR-022 716,597 4,522,704 761 -90 50.00 9.00 13.00 4.00 0.0260 29.00 34.00 5.00 0.0310 SANR-023 716,562 4,522,632 769 -90 69.00 13.00 40.00 27.00 0.0330 22.00 33.00 11.00 0.0500 SANR-024 716,541 4,522,620 778 -90 60.00 21.00 29.00 8.00 0.0300 21.00 23.00 2.00 0.0710 SANR-027 716,491 4,522,817 770 -90 57.00 9.00 47.00 38.00 0.0200 14.00 22.00 8.00 0.0490 SANR-028 716,461 4,522,766 778 -90 57.00 13.00 52.00 39.00 0.0440 19.00 28.00 9.00 0.1320 SANR-029 716,446 4,522,724 778 -90 54.00 30.00 34.00 4.00 0.0210 SANR-032 716,748 4,522,609 765 -90 60.00 SANR-033 716,642 4,522,575 771 -90 60.00 SANR-034 716,690 4,522,660 760 -90 50.00 SANR-035 716,610 4,522,530 780 -90 In progress This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings