BKY Berkeley Energia Limited

RNS Number:1674B
Berkeley Resources Limited
31 July 2007



                          QUARTERLY ACTIVITIES REPORT

                        To the Australian Stock Exchange

                             For the Quarter Ended

                                 30th June 2007

KEY DEVELOPMENTS

  * Initial JORC compliant resource of 11.9 million lbs of U3O8 at a grade of
    0.072% calculated for the Retortillo and Zona 7 Deposits in the Salamanca I
    license.

  * Initial drill testing extends the Retortillo mineralisation 400 m to the
    southeast.

  * Initial diamond drill testing of the Zona 7 mineralisation and its
    potential for extensions was commenced.

  * Extensions of the Zona 7 ground radiometric anomaly identified a
    significantly larger radiometric anomaly extending beyond the current
    tenements. New tenement applications have been made.

  * Positive results from initial metallurgical test work, with recoveries of
    U3O8   exceeding 90% on all samples.

  * Initial drill testing of the defined Saguazal prospect targets in Caceres
    III was completed.

  * Acquisition of five new exploration areas, increasing the Company's
    holding to over 208,000 ha.

  * Completed a placement of 12.5m shares at $1.85 per share, raising $23.1M
    (#9.65M), with institutional investors in North America, Europe and
    Australia.

*         Mr Scott Yelland joined the Company as Chief Operating Officer.


Enquiries -    Matt Syme           Telephone: +61 417 906717
               Managing Director   Email: info@berkeleyresources.com.au


                                ACN 052 468 569

              Level 9, BGC Centre, 28 The Esplanade, Perth WA 6000

                  Tel:  + 618 9322 6322, Fax:  + 618 9322 6558

                     PO Box Z5083, Perth WA 6831,Australia



1.      EXPLORATION

 SALAMANCA PROVINCE

Following  completion of the initial JORC compliant resource calculation of 11.9
million lbs of U3O8  for the Retortillo and Zona 7 Deposits in the Salamanca I
license in early April, exploration in Salamanca Province focussed on drill
testing  potential extensions to the southeast of the main Retortillo resource
and  extending confirmatory drilling at the Zona 7 deposit. Results to date
confirm significant extensions to the Retortillo deposits, including 400m along
strike to the southeast. .

Extensions of the ground radiometric survey at Zona 7 defined  a larger
radiometric anomaly extending >1km to the north of the Mina Cristina area.
Historic radiometric data indicates that this anomaly  extends for another 5km
to beyond the Salamanca I tenement, resulting in new ground acquisition.
Assessment of  low resolution regional radiometrics elsewhere in Salamanca also
resulted in new tenement applications.

SALAMANCA 1

Retortillo

Re-interpretation of the historic JEN and ENUSA drill data, guided by
confirmatory Berkeley diamond drilling provided the basis of 3D models of the
Retortillo and Zona 7 deposits and  calculation of JORC compliant resources
early in the quarter.

The results of this calculation are summarised in the following table.

INFERRED RESOURCES AT RETORTILLO & ZONA 7 (200ppm cut-off)

                            Ore Tonnes                   Grade                 Contained Resource
                               (Mt)                    (ppm U3O8)                  (Mlb U3O8)

    Retortillo                 6.8                        720                         10.8
      Zona 7                   0.62                       760                         1.1
       TOTAL                   7.42                       723                         11.9



Subsequent  extension and confirmatory drilling at Retortillo was focussed in
the southeast sector. Eleven diamond holes (totalling 1053.3m), six RC holes
(totalling 559m) and one roto-percussion hole and six pre-collars (totalling
116m) were completed by the end of the Quarter. This work extended the southeast
limit of mineralisation by 400m and full details, including assays received to
date, are attached as Appendix 1.


Notable intersections (at a cut-off of 200ppm U3O8) include:-

Hole RTO-018

3.00 metres @ 0.0696% U3O8 from 66.50m

9.50 metres @ 0.058% U3O8 from 83.00m

Hole RTO-024

2.30 metres @ 0.035% U3O8 from 60.90m

2.80 metres @ 0.049% U3O8 from 76.00m

Hole RTOR-025

14.00 metres @ 0.0918% U3O8 from 20.00m

Hole RTOR-026

11.00 metres @ 0.0547% U3O8 from 43.00m

Hole RTO-027

2.00 metres @ 0.2467% U3O8 from 62.00m

2.00 metres @ 0.0904% U3O8 from 69.00m

Hole RTO-033

2.05 metres @ 0.132% U3O8 from 63.30m

Hole RTO -035

1.80 metres @ 0.048% U3O8 from 54.8m

All holes were 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) Duplicate 1/4 core samples and blank samples were included and all
samples were assayed for total uranium by the Delayed Neutron Count (DNC) method
at Activation Laboratories Limited in Ontario, Canada. Check assays at other
laboratories (including ENUSA and ALS ChemEx), and acid soluble U assays and Th
analyses, are being completed on selected samples, based on an assessment of the
initial assay data. ALS Chemex analysed approx 5 % of the samples using XRF, and
their results indicate acceptable repeatability and mean percentage differences
of < 6% for

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