BKY Berkeley Energia Limited

RNS Number:4269Q
Berkeley Resources Limited
31 January 2007




                          QUARTERLY ACTIVITIES REPORT
                             FOR THE QUARTER ENDED
                               31 December 2006



Berkeley Resources Limited ("Berkeley") (ASX/AIM Code: BKY) is pleased to report
on activities during the quarter ended 31 December 2006.


  * Drilling commenced on the Salamanca I project with very encouraging
    initial results confirming the presence of uranium mineralisation at
    Retortillo. Two drill rigs are now working at Retortillo.



  * Berkeley agreed to acquire from the Spanish national uranium company,
    ENUSA, that company's exploration database for the Salamanca I project. The
    data is expected to substantially advance the Company's objective of
    generating JORC compliant resources for the project.



  * At the Caceres III project, review of a number of high grade previous
    drill results and extension of a large radiometric anomaly highlighted the
    potential of this area, with initial drilling expected in the March quarter.



  * Senor Jose Ramon Esteruelas, a very experienced Spanish executive, was
    appointed to the Board of Directors.



  * Berkeley sold its Strelley and Kangan North properties in the Pilbara
    region of Western Australia for cash and share consideration valued around
    A$1m.



  * The Company's shares were admitted to trading on the AIM market in London
    on 6 December.



Enquiries:            Matt  Syme           Telephone: +61 417 906 717

                   Managing Director       Email: info@berkeleyresources.com.au

1                   EXPLORATION


Exploration in Salamanca Province focused on preparation for the confirmatory
diamond drilling programme which commenced at the Retortillo deposit on 11
December. This work included ground radiometric surveys, re-establishment of the
baseline grid, a background radon survey, location of previous drill holes and
assessment of historical data. The new geological and structural interpretation
of the Salamanca I licence area was extended by data assessment, field mapping,
and radiometrics. New target areas have been identified outside of the licence
area and ground acquisition is in progress.



SALAMANCA I PROJECT



A programme of confirmation drilling of the Retortillo deposit commenced, and
diamond hole RTO-001 was complete before Christmas. A second rig was deployed in
January to accelerate progress.



Figure 1:      Retortillo Drill Plan: Refer to Investor Relations page at 
               www.berkeleyresources.com.au


Details for RTO-001 include:


* Collar Coordinates: 719318mE, 4520538mN 743mRL (UTM 29N ED50 datum)

* Inclination: -90degrees

* Final Depth: 97.0m

* Water Table: 20.3m



The hole was geologically and radiometrically logged before being sampled (1/4
core) at approximately 1m intervals (intervals varied from 0.5 to 1.5m based on
geology) for the zone between 1.6m and 97m down-hole. Duplicate 1/4 core samples
and blank samples were included in the 108 samples assayed for total uranium by
the Delayed Neutron Count (DNC) method at Activation Laboratories Limited in
Ontario, Canada. Acid soluble U assays and Th analysis, plus check assays at
other laboratories (including ENUSA), will follow assessment of the initial
assay data.



Measured core recoveries averaged 92% over the entire hole.

The geology consisted of:



0.00 - 1.60m             Tertiary cover

1.60 - 16.60m            Strongly weathered shales

16.60 - 39.80m           Weathered grey shales with FeOx throughout + py from
                         24.6m. Visible torbernite, meta-autunite, pitchblende 
                         on fractures

39.80 - 62.00m           Grey-black sheared (sericite) shales with disseminated
                         and vein pyrite - fault at 52.0 - 53.7m

62.00 - 67.00            Late fractured grey-black shales as above

67.00 - 88.00m           Competent shales with quartz-chlorite +/- pyrite

88.00 - 97.00m           As above with late fractures and talc on fractures


The mineralisation appears to be associated with current and past water tables
and with more carbonaceous shale units.


Assay results include the following intersections at a 0.02% U3O8 cut-off:


19.4m to 33.2m - 13.8m @ 0.216% U3O8

46.8m to 52.0m - 5.2m @ 0.073% U3O8

67.0m to 73.0m - 6.0m @ 0.095% U3O8



Since the end of the period a further four holes have been drilled.



The host rocks are kyanite/andalusite hornfels (formerly grey/black shales)
which have been variably fractured altered and weathered. Minor granite dykes
also occur. Most of the uranium mineralisation occurs as torbernite,
meta-autunite and pitchblende.



The uppermost mineralisation in RTO-001 occurs immediately beneath a zone of
leaching and the water table. The deeper intersections may be related to both
deeper oxidation and primary mineralisation.



Figure 2:               RTO 001 Drill log and assays: Refer to Investor
                        Relations page at www.berkeleyresources.com.au


The four old JEN diamond drill holes surrounding RTO-001 at a distance of 25m,
gave the following mineralised intervals (chemical assays of 25cm intervals):


Hole 060E08S (25m to grid west of RTO-001)


16.0m to 26.25m - 10.25m @ 0.291% U3O8

30.00m to 33.75m - 3.75m @ 0.050% U3O8

40.00m to 42.50m - 2.50m @ 0.071% U3O8

53.25m to 54.75m - 1.50m @ 0.031% U3O8

61.75m to 77.75m - 6.0m @ 0.028% U3O8



Hole 062E08S (25m to grid east of RTO-001)



26.00m to 32.75m - 6.00m @ 0.166% U3O8

34.00m to 35.00m - 1.00m @ 0.045% U3O8

39.00m to 41.50m - 2.50m @ 0.040% U3O8



Hole 061E09S (25m to grid south of RTO-001)



39.00m to 39.75m - 0.75m @ 0.086% U3O8

54.25m to 59.50m - 5.25m @ 0.068% U3O8

64.50m to 67.75m - 3.25m @ 0.031% U3O8



Hole 061E07S (25m to grid north of RTO-001)



19.75m to 22.50m - 2.75m @ 0.036% U3O8

25.50m to 28.00m - 2.50m @ 0.052% U3O8

36.25m to 37.75m - 1.50m @ 0.059% U3O8

40.75m to 41.50m - 0.75m @ 0.029% U3O8



The mineralised intervals in hole RTO-001 shows good correlation with the
adjacent intersections, particularly with 060E08S. The lower intersections in
all holes show consistent correlations. These results increase confidence in the
previous drill data.



In parallel with current drilling programme the historic Retortillo drilling
data is being fully evaluated. The aim is to apply the new geological and assay
information to interpretation of the ENUSA assay and radiometric data for the
272 holes drilled previously. The resulting 3D model of the deposit will enable
calculation of a JORC compliant resource.



Baseline radiometric, radon and water sampling surveys were completed to provide
background environmental data. The resulting report for the radon survey (176
samples) is believed to protect Berkeley/MRA from any future liability related
to past exploration in the area.



Geological mapping and ground radiometrics indicate continuation of the
favourable Retortillo stratigraphy to the north-west, for about four kilometres,
and an associated radiometric anomaly of 3.2km x 1km with counts of up to 2775
cps. This anomaly is located to the north-west of the Yeltes river and has not
been tested by previous drilling.



Figure 3:               Retortillo Radiometric Anomaly: Refer to Investor
                        Relations page at www.berkeleyresources.com.au


In early January the Pedreras PI over the Retortillo mineralisation was granted,
thus removing prior constraints on drilling of the mineralised zone and its
potential extensions.



Elsewhere in Salamanca I the potential also appears to be increasing.
Seventy-two diamond holes at Zona 7 show high grade mineralisation at depths of

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