BERKLEY RESOURCES INC.

400 - 455 Granville Street

Vancouver, B.C.

V6C 1T1

Tel: (604) 682-3701 Fax: (604) 682-3600

www.berkleyresources.com

ir@berkleyresources.com

December 22, 2006

Trading Symbols: BKS - TSX Venture

BRKDF.PK - OTCPK (US)

Frankfurt W8O

Berkley Resources Inc. (the “Company”) announces that it has closed the third tranche of the non-brokered private placement of 1,424,055 flow-through shares at a price of $0.90 per share. Each flow-through share will entitle the investor to the tax benefits of the qualifying Canadian exploration expenses incurred by the Company, which will be “flowed-through” to the investor.

The hold period for all securities issued under this private placement will expire on April 23, 2007.

The Company paid $89,715.50 cash in finder’s fees.

On behalf of the Board of Directors

of Berkley Resources Inc.

“Lindsay Gorrill”

Lindsay Gorrill

President and COO

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this release