Regulus Discovers New Near-Surface Gold Zone Two Kilometres

Regulus Discovers New Near-Surface Gold Zone Two Kilometres Northeast
of Rio Grande Ring Structure 
297 m with 0.36 g/t Au and 0.06% Cu (0.46 g/t Au Eq) starting at
surface including 31 m with 0.74 g/t Au and 0.08% Cu and 66 m with
0.58 g/t Au and 0.08% Cu 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/16/12 -- Regulus
Resources Inc. ("Regulus" or the "Company") (TSX VENTURE:REG) is
pleased to announce a new, near-surface, gold discovery at the
Northeast gold target located two kilometres to the northeast of the
Rio Grande ring structure at the Rio Grande copper-gold-molybdenum
project in Salta Province, Argentina. Drill hole RGR-12-118 has
tested the southern edge of a 900 by 600 metre gold-in-soil anomaly
first identified in 2011 (see figure 1) and encountered significant
gold mineralization of a style similar to the Lindero heap leach gold
deposit of Mansfield Minerals (MDR TSX.V), located ten kilometers to
the southeast. Please refer to Figure 2 for a comparison of the size
of the Lindero deposit with respect to the Northeast gold-in-soil
anomaly.  
Results from RGR-12-118 are summarized below and in Table 1. The
location of the drill hole is noted in Figures 1 and 2.  


 
--  RGR-12-118 intersected: 
               297 m with 0.36 g/t Au and 0.06% Cu (0.46 g/t Au Eq)
    including 
               31 m with 0.74 g/t Au and 0.08% Cu and 66 m with 0.58 g/t Au
    and 0.08% Cu
 
--  Mineralization commences at the surface and is associated with stockwork
    quartz-magnetite veinlets that are hosted within intrusive breccias and
    adjacent red bed sedimentary rocks cut by several narrow diorite
    intrusions
 
--  This is effectively the first hole into a large (900 by 600 m) gold-in-
    soil anomaly and there is good potential to outline a deposit of
    significant size

 
John Black, President and CEO of Regulus commented as follows: "The
discovery of a new zone of gold mineralization two kilometres to the
northeast of the known copper-gold mineralization in the Rio Grande
ring structure continues to demonstrate the size and strength of the
Rio Grande system and the potential for the project to deliver
additional exciting results. We are particularly encouraged as this
is only the second hole drilled in the Northeast target. The first
w
as drilled 500 metres to the west in 2007, prior to the recognition
of the full extent and strongest portion of the gold-in-soil
geochemical anomaly.  
Given the size of the gold-in-soil anomaly (900 by 600 metres), and
the position of drill hole RGR12-118 along its southern margin, we
are very encouraged by these results and believe there is good
potential to outline a deposit of significant size. We will be
following up with additional drilling once we have conducted more
detailed geological mapping and additional geophysical studies to
better define the drill target." 
RGR-12-118  
Drill hole RGR-12 -118 was collared on the southern edge of a 900 by
600 metre gold-in-soil anomaly first announced in March 2011 (see
Regulus news release March 3, 2011) and subsequently expanded in
2012. The 297 metres of mineralization encountered in RGR-12-118
starts at the surface and is consistently mineralized throughout the
hole with values up to 1.54 g/t Au and no high values that would
unduly influence the average grade. The mineralization in RGR-12-118
is hosted in intrusive breccias and moderately hornfelsed red-bed
sedimentary rocks intruded by a number of narrow mineralized diorite
intrusions.  


 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
RGR-12-118                    From     To   Metres    Au    Cu    Ag      Mo
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TD = 759.00 m                 6.00 303.00   297.00  0.36 0.06%  0.45  0.001%
----------------------------------------------------------------------------
                 including    6.00  30.00    24.00  0.58 0.07%  0.31  0.001%
----------------------------------------------------------------------------
                 and         74.00 105.00    31.00  0.74 0.08%  0.40  0.001%
----------------------------------------------------------------------------
                 and        141.00 195.00    54.00  0.29 0.08%  0.29  0.001%
----------------------------------------------------------------------------
                 and        237.00 303.00    66.00  0.58 0.08%  1.02  0.002%
----------------------------------------------------------------------------
                 including  240.00 284.00    44.00  0.69 0.10%  1.27  0.003%
----------------------------------------------------------------------------
----------------------------------------------------------------------------

 
Table 1: Rio Grande Drill Results 
Northeast Target Exploration Plans  
The Company intends to conduct a geophysical, geochemical and mapping
program prior to commencing with follow-up drilling in the Northeast
target. The initial program is expected to be initiated by the end of
2012 and will include: 


 
--  Extending the existing ground magnetic survey which does not cover the
    area of the new soil anomaly. 
--  Geological mapping to aid in drill target selection and prospecting to
    identify new potential areas. 
--  Expansion of the existing soil survey to the east. 
--  Drilling high priority targets in 2013.

 
Figure 1: Northeast Target Location Map:
http://media3.marketwire.com/docs/RegFig1.jpg  
About Regulus Resources Inc. 
Regulus Resources Inc. (TSX VENTURE:REG) is a mineral exploration
company formed in December, 2010 in connection with the sale of
Antares Minerals Inc. to First Quantum Minerals Ltd. (FM. TSX).
Regulus has been exploring the Rio Grande Cu-Au-Mo porphyry project
in Salta Province of NW Argentina as a 50/50 joint venture partner
with Pachamama Resources and the two companies recently merged under
the name of Regulus Resources to consolidate a 100% interest in the
project and pursue an aggressive exploration program (see Regulus
press releases of May 11 and May 16, 2012). 
Figure 2: Northeast Target Soil Au Geochemistry Map:
http://media3.marketwire.com/docs/RegFig2.jpg 
All of Regulus' exploration programs and pertinent disclosure of a
technical or scientific nature are prepared by, or under the direct
supervision of, Wayne Hewgill, P.Geo, and Regulus' COO, who serves as
the qualified person (QP) under the definitions of National
Instrument 43-101. 
The Rio Grande samples were analysed with the following methods: Au -
30 g FA with AA Finish, Cu - four acid digestion for trace Cu and
four acid digestion and AAS for ore grade Cu, 35 element Aqua Regia
ICP-AES.  
Regulus' security, chain of custody and quality control is described
on their website and can be reviewed at: http://www.regulusresources.
com/BestPractices/SamplingMethodologies.aspx 
Forward Looking Information 
Certain statements regarding Regulus, including management's
assessment of future plans and operations, may constitute
forward-looking statements under applicable securities laws and
necessarily involve known and unknown risks and uncertainties, most
of which are beyond Regulus' control.  
Specifically, and without limitation, all statements included in this
press release that address activities, events or developments that
either Regulus expects or anticipates will or may occur in the
future, including
 management's assessment of future plans and
operations and statements with respect to the completion of the
anticipated drilling program and the completion of a NI 43-101
compliant resource estimate, may constitute forward-looking
statements under applicable securities laws and necessarily involve
known and unknown risks and uncertainties, most of which are beyond
Regulus' control. These risks may cause actual financial and
operating results, performance, levels of activity and achievements
to differ materially from those expressed in, or implied by, such
forward-looking statements. Although Regulus believes that the
expectations represented in such forward-looking statements are
reasonable, there can be no assurance that such expectations will
prove to be correct. Such risks and uncertainties include, but are
not limited to: the impact of general economic conditions in Canada
and Argentina, industry conditions including changes in laws and
regulations including adoption of new environmental laws and
regulations, and changes in how they are interpreted and enforced, in
Canada and Argentina, fluctuations in commodity prices and ability to
complete operations due to factors beyond Regulus' control. 
Although the forward-looking statements contained in this Press
Release are based upon assumptions which management believes to be
reasonable, Regulus cannot assure shareholders that actual results
will be consistent with these forward-looking statements. With
respect to forward-looking statements contained in this press
release, Regulus has made assumptions regarding: current commodity
prices and royalty regimes; timing of receipt of regulatory
approvals; availability of skilled labour; timing and amount of
capital expenditures; future exchange rates; the impact of increasing
competition; conditions in general economic and financial markets;
effects of regulation by governmental agencies; royalty rates; future
operating costs; and other matters.  
Accordingly, Regulus does not give any assurance nor make any
representations or warranty that the expectations conveyed by the
forward-looking statements will prove to be correct and actual
results may differ materially from those anticipated in the
forward-looking statements. Regulus does not undertake any obligation
to publicly update or revise any forward-looking statements other
than required by applicable securities law. 
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 
Contacts:
Regulus Resources Inc.
John Black
President and CEO
720 514-9036 or Mobile: 303 618-7797 
Regulus Resources Inc.
Wayne Hewgill, P.Geo
COO
778 438-2481 or Mobile: 604 961-0033
 
 
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