Proposed issue of options to non-exec director

RNS Number : 3689X

Berkeley Resources Limited

14 February 2012

BERKELEY RESOURCES LIMITED

Proposed Issue of Options to Non-Executive Director

The Board of Berkeley Resources Limited (the Company) advises that it proposes to issue 250,000 incentive options at an exercise price of $0.44 (being 125% of the 5 day VWAP) expiring 4 years from the date of issue to its recently appointed Non-Executive Director Mr Laurie Marsland. The options will be subject to shareholders approval at the Company's next shareholder meeting, and will vest equally over a 3 year period, with all options vesting automatically on a Change of Control event.

Following the issue of these options, Mr Laurie Marsland will have a total of 250,000 options over the Company's ordinary shares at an exercise price of $0.44.

It has been the Company's policy to award Directors and Employees with incentive options to align their interests with those of shareholders and conserve cash while properly remunerating all staff. The policy of awarding incentive options allows the Company to attract highly experienced and qualified Board members in a competitive market.