ASX/AIM:BKY

www.berkeleyresources.com.au 1May 2014

Executive Summary

• ASX and AIM listed uranium development company focused in Spain

• Flagship Salamanca Project advancing towards production

Mining Licence granted for Retortillo

Pre-Feasibility Study confirms technical and economic viability of the Project

Steady state production of 3.3 Mlb U3O8 over 7 years; average annual production of 2.7 Mlb U3O8 over initial 11 year mine life

Current Mineral Resource Estimate of 61.6 Mlb U3O8 (@ 427 ppm)

Significant resource growth potential from surrounding Satellite Deposits

• Experienced board & management with proven track record in Uranium and Spain

• Strong cash position of A$21.5m (31 Mar)

2

Salamanca Project

3

• Comprises Retortillo, Alameda and Gambutadeposits plus a number of Satellite Deposits in close proximity

• Total Resource = 61.6 Mlb U3O8

• PFS evaluated integrated project comprising Retortillo and Alameda only (34.5 Mlb)

• Significant growth potential from Gambuta, Satellite Deposits and exploration upside

• Mining Licence granted for Retortillo, which is where mining is scheduled to commence

• Excellent infrastructure

• 100% interest

Key Results from PFS

4

Production3.3 Mlb per annum (average steady state)2.7 Mlb per annum (average LOM)

Mine LifeMinimum 11 yearsIncluding 7 years steady state operation

Operating Cost (C1) US$24.60 per pound (average LOM)

Capital Cost US$95.1m upfrontUS$74.4m incurred in Year 2

Robust, low capex project with significant production scale & mine life

Staged Development

5

• Staged development and capital expenditure incorporating two deposits

Initial development and production at Retortillo

Subsequent development of Alameda in Year 2

Steady state production incorporating both deposits in Year 3

Development Approach

6

RETORTILLO

• Open pit mining (transfer mining to facilitate continuous rehabilitation)

• Heap leaching at each mine using on-off leach pads

• Centralised plant at Retortillo (solvent extraction & ammonium diurante precipitation)

• At Alameda, ore will be initially be treated on site by remote ion exchange operation

• Loaded resin trucked from Alameda to Retortillo plant for final extraction and purification

ALAMEDA

Mineral Resources – Retortillo & Alameda

7

Retortillo and AlamedaCombined Mineral Resource Estimate as at Sept 2013

Reported at a cut-off grade of 200 ppm U3O8 and in accordance with the JORC Code (2004)

Tonnage (million tonnes)

Grade (ppm U3O8)

Contained Uranium(million pounds)

Indicated Resource 34.4 423 32.1

Inferred Resource 2.5 443 2.4

Total Resource 36.9 424 34.5

• PFS and Production Target were based solely on the Retortillo and Alameda Indicated Resources

• Berkeley has 100% interest in additional Inferred Resources totalling 27.1 Mlb U3O8 (@ 431 ppm)at Gambuta, Zona 7 and other Satellite Deposits, which are in close proximity to Retortillo and Alameda

Strong potential to increase production profile and/or mine life

Shallow Open Pit Mining

8

• Open pit mining using drill & blast followed by diesel powered truck & shovel operation

• Mining schedule averages 5.5 Mt ore per annum combined mine production during steady state

• Shallow open pits - max. depths 90m at Retortillo and 135m at Alameda

• Low strip ratios - average 1:2.6 (ore to waste) at Retortillo and 1:1.8 at Alameda over LOM

• Mined grade averages 306 ppm U3O8 at Retortillo & 322 ppm U3O8 at Alameda over LOM

• Transfer mining method to facilitate continuous backfill / rehabilitation

• Study assumes contractor mining scenario

RETORTILLO

ALAMEDA

Heap Leach Processing

9

Heap leach selected as preferred leaching option due to:

• High recoveries (85%)

• Coarse crush sizes (Retortillo 40mm, Alameda 12mm)

• Good leach kinetics

• Low acid consumption (~18kg/t)

• Ripios backfilled into pits, removing requirement for tailings storage facility (TSF)

Process Flow Sheet

10

Excellent Infrastructure

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• Readily accessible from existing public road network

• Power supplied from local grid at US$0.10/kWh

• Total power requirements low (3.7MW Retortillo; 3.2MW Alameda)

• Water available from both adjacent water courses and on-site bores

• Proximal to city of Salamanca and local villages

On-site accommodation / camp / airstrip etc. not required

• In-country sources of sulphuric acid

Acid plant not required

Significant Capex savings

Excellent Infrastructure

12

Access Power

Site Infrastructure Sulphuric Acid SourcesRegional Infrastructure

Water

Significant Capex savings

Permitting

13

• Management team with strong track record of successful mine permitting in Spain

• Permitting process for uranium mining and processing well understood

• Best practice environmental management approach applied

Progress:

• Retortillo - Mining Licence granted April 2014

• Alameda - initial permitting documentation submitted to authorities

• Local community support with Co-Operation Agreements in place with 3 municipalities

Major milestone achieved with grant of Retortillo Mining Licence

Key Permits Required for Development

1. Exploitation Concession (Mining Licence)

2. Authorisation of the Process Plant as a Radioactive Facility

3. Authorisation for the Exceptional Use of Rural Land for Industrial Purposes

Production Growth Potential – Gambuta

14

• Potential to increase production scale or mine life of Salamanca Project, once incorporated

• Positive Scoping Study recently completed

• Conceptual approach same as for Alameda i.e. open pit, heap leach, remote IX with loaded resin transported to centralised plant at Retortillo

• Geometry, thickness and depth of mineralisation make the deposit amenable to shallow open pit mining with a low ore to waste strip ratio

• Encouraging initial metallurgical testwork results (330kg sample):

Potential robust, low capex additional production source for Salamanca Project

uranium recovery averages 80% across the various material types at 12 mm crush size

acid consumption ~ 9 - 10 kg/t

geomechanical tests confirmed ore could be stacked to 8m, with the HL pad design conservatively assuming two 6m lifts

• Favourable existing infrastructure

• Gambuta will be integrated with Retortillo and Alameda once resource classification and technical studies are sufficiently advanced

Exploration Upside – Satellite Deposits

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Significant exploration potential:

• Numerous untested or poorly tested radiometric anomalies

• Exploration under shallow Tertiary cover

• Extensions to known resources

2014 exploration work program:

• Detailed radiometric surveys, mapping and sampling

• Water well sampling & gamma probing to detect anomalies

• Drill testing of Zona 7, Villar & priority radiometric anomalies

Zona 7 Drilling – Significant High Grade Extension

16

18 hole, 1,130m RC drill program completed:

• Thick, high grade mineralisation intersected at shallow depths (from 9m)

• Mineralisation extended 1,200m to SW of current resource area

• Intercepts include 29m @ 3,391 ppm, 17m @ 1,260 ppm, 15m @ 1,392 ppm and 25m @ 683 ppm U3O8

• Potential to add significant resource tonnes to the Salamanca Project with further drilling

• Zona 7 is located within 10km of proposed location of centralised processing plant at Retortillo

Clear demonstration of exploration & resource growth potential of Salamanca Project

Experienced Board and Management

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Ian MiddlemasChairman

Chartered Accountant with over 20 years mining industry experience; extensive corporate and management expertise

Jim RossDeputy Chairman

Leading international geologist whose technical qualifications include an honours degree in Geology at UWA and a PhD in Economic Geology from UC Berkeley; extensive international experience in exploration and mining

Robert BehetsNon-Executive Director

Geologist with over 25 years mining industry experience; Founding MD of Mantra Resources and ex-WMC executive; member of JORC Committee

Francisco BellonGeneral Manager - Operations

Mining Engineer with further specialisation in mineral processing and metallurgy with over 18 years experience in both operational and project management roles in Europe, South America and West Africa. Has developed and operated numerous mines in Spain

Javier ColillaSenior VP - Corporate

Economist and Lawyer with more than 25 years experience in the Spanish and international mining industry. Held several executive management roles during a long career with Rio NarceaGold Mines and was responsible for the permitting of four mines in Spain & one in Mauritania

Russell BradfordTechnical Advisor

Metallurgist with over 20 years experience in Africa and Australia; former GM - Project Development for Mantra, GM - Operations for LionOre’s Australian nickel mines, Head of Metallurgy at BCL in Botswana

Corporate Overview

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Shares on Issue 180.4m

Unlisted Options & Rights 14.3m

Market Capitalisation (undiluted @ A$0.28) A$ 50.5m

Cash Position (at 31 Mar) A$ 21.5m

Anglo Pacific 16.8%

Hadron 7.9%

Resource Capital Fund 7.2%

CBA 5.8%

Management ~4.0%

Top 20 Shareholders 69.6%

SUBSTANTIAL SHAREHOLDERS

CAPITAL STRUCTURE

Investment Case

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• PFS considered only Retortillo and Alameda deposits

• Scoping Study highlights potential of Gambuta deposit

• Exploration Upside - Zona 7 drilling results

• PFS demonstrated robust Project

• Mining Licence granted for Retortillo

• Well funded with DFS to commence Q2 2014

HIGH QUALITY ASSET BASE

GROWTH POTENTIAL

DE-RISKINGTHE PROJECT

• Large resource base (61.6Mlb @ 427 ppm)

• Significant production scale and mine life, shallow open pit mining

• Excellent infrastructure

ASX/AIM:BKY

www.berkeleyresources.com.au 20

Spain

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• Historical uranium mining

• Existing nuclear power industry

• Government support for mining industry

• Skilled local workforce

• Internationally competitive contractors and suppliers

Geology – Retortillo & Alameda

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Alameda

• Alameda mineralisation occurs in a complex network of moderately to steeply dipping brittle structures

• Primary uranium minerals are pitchblende/uraninite and coffinite

Retortillo

• Vein Type deposits hosted in meta-sedimentary sequences adjacent to granites

• Retortillo mineralisation includes vein, stockwork and disseminated mineralisation in joint / fracture fillings associated with brittle deformation

Grade Tonnage Curves – Retortillo & Alameda

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• G-T curves highlight significant impact of cut-off grade (COG)

• At 100 ppm U3O8 COG, which approximates the mining COG derived from the PFS pit optimisations, MRE’s for Retortillo and Alameda total 19.4 Mlb and 25.4 Mlbs U3O8 respectively

• Represents an increase of 45% and 20% in contained U3O8 at Retortillo and Alameda respectively when compared with the MRE reported at the 200 ppm COG

Total Mineral Resources

24

Mineral Resource Estimates as at Sept 2013Reported at a cut-off grade of 200 ppm U3O8 and in accordance with the JORC Code (2004)

Resource Category

Tonnage (million tonnes)

Grade (ppm U3O8)

Contained U3O8

(million pounds)

Retortillo Indicated 14.4 378 12.0

Inferred 1.8 359 1.4

Total 16.2 376 13.4

Alameda Indicated 20.0 455 20.1

Inferred 0.7 657 1.0

Total 20.7 462 21.1

Gambuta Inferred 12.7 394 11.1

Other Satellites Inferred 15.8 459 16.0

Total Resources Indicated 34.4 423 32.0

Inferred 31.0 432 29.6

Total 65.4 427 61.6

All figures are rounded to reflect appropriate levels of confidence. Apparent differences occur due to rounding

PFS Capital and Operating Cost Breakdown

25

0

10

20

30

40

50

60

70

80

90

100

TotalG&A

Retortillo Capex

$18.8m

$2.2m

$23.4m

$42.2m

$95.1m

Pre-StripIndirectsInfrastructureProcessing

$8.6m

0

10

20

30

40

50

60

70

80

Total

Alameda Capex

$16.1m

$21.0m

$32.1m

$74.4m$5.1m

Retortillo Opex – US$29.3/lb

Alameda Opex – US$21.7/lb

G&APre-StripIndirectsInfrastructureProcessing

Processing44%

Mining 49%

G&A7%

Processing48%Mining

45%

G&A7%

Permitting

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Key Permits Required for Development

1) Exploitation Concession / State Reserve suitable for Exploitation (Mining Licence)

2) Authorisation of the Process Plant as a Radioactive Facility

3) Authorisation for the Exceptional Use of Rural Land for Industrial Purposes

Substantive Authorities:

1) Retortillo - Mines Dept of Ministry of Industry and Employment of Regional GovernmentAlameda (State Reserve) - Mines Dept of Ministry of Industry of Central Government

2) Department of Nuclear Energy of Ministry of Industry of Central Government Nuclear Safety Council

3) Urbanism Department of Regional GovernmentLocal Municipalities

Permitting Status - Retortillo

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Exploitation Concession (Mining Licence):

Application for Exploitation Concession submitted in Oct 11, together with Environmental Scoping Document (ESD)

ESD subjected to consultation period, comments received incorporated into Environmental and Social Impact Assessment (ESIA)

ESIA, Exploitation Plan, Reclamation & Closure Plan approved for Public Information in May 12

Public Information Period (PIP) concluded in Sept 12. Berkeley’s responses to PIP submissions provided to relevant authorities and discussions regarding mitigation measures concluded in Oct 12.

Environmental Technical & Executive Committees at Provincial level completed reviews of ESIA and provided favourable recommendation report to Regional Government in Feb 13

Favourable Declaration of Environmental Impact (Environmental Licence) granted in Oct 13

Exploitation, Reclamation and Closure Plans approved in Apr 14

Exploitation Concession (Mining Licence) granted in Apr 14

Permitting Status - Retortillo

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Authorisation of the Process Plant as a Radioactive Facility:

Initial Authorisation for the Radioactive Facility documentation submitted in Mar 12

Documentation approved for Public Information in Jul 12

Public Information Period concluded in Sept 12

Nuclear Safety Council (NSC) submitted its compulsory recommending report regarding the granting of the Mining Licence to Regional Government in Aug 13

NSC’s recommendation report for the Initial Authorisation for the Radioactive Facility was only pending the Mining Licence being granted (occurred in Apr 14) so issuance anticipated in short-term

Grant of Initial Authorisation

Grant of Authorisation for Construction

Grant of Authorisation for Operations

Permitting Status - Retortillo

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Authorisation for the Exception Use of Rural Land for Industrial Purposes:

Authorisation for the Use of Rural Land for Industrial Purposes submitted in Mar 12

Documentation approved for Public Information in May 12

Public Information Period concluded in Sept 12

Requested land declared as “suitable for the exceptional authorisation, subject to issuance of the environmental license” by relevant authority in Feb 13

With Environmental Licence granted in Oct 13, the Authorisation for the Exceptional Use of Rural Land for Industrial Purposes is now imminent

Community Relations:

Co-Operation Agreements with Retortillo and Villavieja municipalities signed in Oct 11

Co-Operation Agreements with Villares municipality signed in Sept 12

Permitting Status - Alameda

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State Reserve suitable for Exploitation (Mining Licence):

Application, together with Environmental Scoping Document (ESD), submitted in Dec 12

Baseline studies updated for inclusion in ESIA

Updated ESD & Exploitation, Reclamation & Closure Plans prepared for submission in current quarter

Authorisation of the Process Plant as a Radioactive Facility:

Documentation for Initial Authorisation prepared for submission in current quarter

Authorisation for the Exception Use of Rural Land for Industrial Purposes:

Authorisation for the Use of Rural Land for Industrial Purposes submitted in Dec 12

Documentation approved for Public Information in Feb 13

Public Information Period concluded in Mar 13

Responses to comments/allegations prepared and submitted to authorities

Declaration of the requested land as “suitable for the exceptional authorisation, subject to obtaining the environmental license”

Important Notices

31

Disclaimer Notice

The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any securityin Berkeley Resources Ltd (“BKY”) nor does it form the basis of any contract or commitment. BKY makes no representation or warranty, express or implied, asto the accuracy, reliability or completeness of this material.

BKY, its directors, employees, agents and consultants shall have no liability, including liability to any person by reason of negligence or negligentmisstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissionsfrom this material except liability under statute that cannot be excluded.

Statements contained in this material, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates,prices, resources, reserves or potential growth of BKY, industry growth or other trend projections are, or may be, forward looking statements. Suchstatements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties.

Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety offactors.

Competent Persons Statement

The information in this Report that relates to Exploration Results and Mineral Resources is based on information compiled by Craig Gwatkin, who is aMember of The Australian Institute of Mining and Metallurgy and was an employee of Berkeley Resources Limited. Mr. Gwatkin has sufficient experiencewhich 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 CompetentPerson as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Gwatkinconsents to the inclusion in the report of the matters based on his information in the form and context in which it appears. This information was preparedand first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has notmaterially changed since it was last reported.

The information in this Report that relates to the Pre-Feasibility Study is based on information compiled by Neil Senior of SENET (Pty) Ltd. Mr. Senior is aFellow of The South African Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type ofdeposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘AustralasianCode for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Senior consents to the inclusion in the report of the matters based on hisinformation in the form and context in which it appears. This information was prepared and first disclosed under the JORC Code 2004. It has not beenupdated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

Important Notices

32

Production Target

The Production Target stated in this Report is based on the Company’s Pre-Feasibility Study (‘PFS’) for the Salamanca Project as released to the ASX on 26 September 2013, which included the following material assumptions:

• Minimum Life of Mine (‘LOM’) 11 years (including 7 years of steady state operation)

• Mining Method Open pit for Retortillo and Alameda

• Strip Ratios 1:2.6 for Retortillo and 1:1.8 Alameda (ore to waste, averages over LOM)

• Mining Cut-off Grades 105 ppm U3O8 for Retortillo and 90 ppm U3O8 for Alameda

• Overall Pit Wall Slope Angles 35-45 degrees for Retortillo and 35-55 degrees for Alameda

• Processing Method Heap leaching using on-off leach pads at Retortillo and Alameda, followed by uranium recovery and purification by solvent extraction, ammonium diuranate precipitation and calcination at Retortillo

• Ore Processing Rates 2.2 million tonnes per annum for Retortillo and 3.3 million tonnes per annum for Alameda during steady state operation

• Heap Leach Feed Grades 306 ppm U3O8 for Retortillo and 322 ppm U3O8 for Alameda (averages over LOM)

• Metallurgical Recovery 85% for Retortillo and Alameda

• Acid Consumption 18 kilograms per tonne for Retortillo and Alameda

• Mining Costs US$14.50 per pound U3O8 for Retortillo and US$9.76 per pound U3O8 for Alameda (average LOM C1 cash operating costs, assumes contract mining)

• Processing Costs US$12.80 per pound U3O8 for Retortillo and US$10.41 per pound U3O8 for Alameda (average LOM C1 cash operating costs)

• General and Administrative Costs US$2.03 per pound U3O8 for Retortillo and US$1.56 per pound U3O8 for Alameda (average LOM C1 cash operating costs)

• Upfront Capital Costs US$95.1 million to deliver initial production at Retortillo and a further US$74.4 million at Alameda to achieve steady state

• Discount Rate 8%

• Uranium Price US$65 per pound U3O8

• Exchange Rate US$/€ 1.28

The PFS and Production Target were based solely on the Retortillo and Alameda Indicated Mineral Resources, being 14.4 million tonnes averaging 378 ppm U3O8 for acontained 12.0 million pounds U3O8 and 20.0 million tonnes averaging 455 ppm U3O8 for a contained 20.1 million pounds U3O8 respectively, at a lower cut-off gradeof 200 ppm U3O8. The PFS and Production Target do not incorporate any Inferred Mineral Resources.

The Indicated Mineral Resources underpinning the Production Target were prepared by a Competent Person in accordance with the requirements in Appendix 5A(JORC Code). This information was first disclosed on 26 September 2013 under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012on the basis that the information has not materially changed since it was last reported. The Competent Person Statement relating to the Indicated Mineral Resourcesis on Slide 31.

The Company confirms that the material assumptions underpinning the PFS and Production Target referenced in the 26 September 2013 release continue to applyand have not materially changed.