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BERKELEYenergía NEWS RELEASE | 29 April 2021 Quarterly Report March 2021 Summary : Permitting Update : Berkeley Energia Limited's ( " Berkeley " or the " Company " ) focus continues to be on progressing the approvals required to commence construction of the Salamanca mine and bring it into production . With more than 120 previous permits and favourable reports granted by the relevant authorities at the local , regional , federal and European Union levels , the Authorisation for Construction for the uranium concentrate plant as a radioactive facility ( " NSC II " ) is the only pending approval required to commence full construction of the Salamanca mine . During the quarter , the Company received , and promptly submitted formal submitted formal responses to , two additional requests for information in relation to the NSC II from the Nuclear Safety Council ( " NSC " ) . All documentation submitted by the Company in relation to NCS II has been prepared following advice from independent , internationally recognised advisors and consultants who are experts in their field . The next step in the process is for the NSC technical team to finalise their report and submit it to the NSC Board for ratification which it expects in the coming months following a statement made by the NSC in April 2021 . The Company continues to engage with the relevant authorities and maintain strong engagement with all key stakeholders in Spain in relation to permitting for the Salamanca project . • Uranium Market : The uranium spot price declined -6 % during the first two months of 2021 to reach US $ 28.20 per pound by the end of February 2021 but then strengthened to US $ 30.65 per pound at the end of March 2021 , an increase of almost 9 % for the month . The month of March saw a surge in spot market volumes as several potential uranium producers implemented a revised strategy incorporating the near - term purchasing of physical uranium in addition to pursuing the restart / development of uranium production facilities . There was strong investor interest in uranium during the quarter as evidenced by a number of significant capital raises totalling ~ A $ 840 million . The market has been further buoyed during the quarter due to recent events including : О US President Biden's announcement on 31 March that the proposed " American Jobs Plan , ” ( proposed to be budgeted at US $ 2.25 trillion ) would incentivise clean electricity providing funding for the development of advanced nuclear reactors and supporting the existing U.S. commercial nuclear power fleet ; ○ The European Commission's Research Centre draft report concluded that nuclear energy does not harm the European Green Deal sustainability objectives and that there is no science - based evidence that nuclear energy does more harm to human health or to the environment than other electricity production technologies already included in the Taxonomy as activities supporting climate change mitigation ; and о Russia's state nuclear power corporation , Rosatom , revealed its future plans for new reactor construction within Russia which may require the construction of 24 new commercial nuclear reactors to increase energy provided by nuclear source to 25 % by 2045 . Berkeley Energia Limited | LSE / ASX / BdM : BKY | ABN : 40 052 468 569 | www.berkeleyenergia.com MADRID Calle Capitán Haya 1 , Planta 15. Edificio Eurocentro , 28020 Madrid , Espana | T : +34 91 555 1380 PERTH Level 9 , 28 The Esplanade , Perth WA 6000 | T : +61 8 9322 6322 | F : +61 8 9322 6558