Chosen as Partner to Develop

RNS Number : 1537Z

Berkeley Resources Limited

16 July 2008

 



16 July 2008

Berkeley chosen as partner to develop ENUSA assets in spain

The Directors of Berkeley Resources Limited (AIM: BKY.L) are pleased to advise that the Company has been chosen by ENUSA Industrias Avanzadas S.A. as that company's partner to conduct a feasibility study upon and ultimately develop ENUSA's uranium mining assets in Salamanca Province, Spain.

The assets include a number of 'State Reserve' licence areas which have been extensively explored by ENUSA, but which do not presently contain resources compliant with the JORC Code. The partnership also includes access to the Quercus uranium processing plant, which was operated by ENUSA until 2003 and has been in care and maintenance (without a comminution circuit) since then.

Berkeley will complete a feasibility study on mining the State Reserves and processing through the Quercus plant. In parallel, Berkeley will continue to advance its 100% owned Salamanca projects - which currently have a JORC resource of 16.9m lbs of U3O8 - for possible processing through the Quercus plant, located about 30km away.

The companies are continuing negotiation of the terms of the partnership and do not expect this will be completed until after the Spanish summer vacation. The agreement will then be submitted to the Spanish Council of Ministers for approval. 

Further details will be advised when the agreement is completed.

Enquiries  -    Managing Director:         Matt Syme            Tel:  [phone]     

                                  RBC Capital Markets:     Martin Eales        Tel: [phone]

 

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