Regulus Continues to Extend Southwest Copper-Gold Zone Rio

Regulus Continues to Extend Southwest Copper-Gold Zone Rio Grande
Project-Salta, Argentina 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/16/12 -- Regulus
Resources Inc. ("Regulus" or the "Company") (TSX VENTURE:REG) is
pleased to announce results for an additional six drill holes from
the current drilling program at the Rio Grande copper-gold-molybdenum
project in Salta Province, Argentina. These holes were all drilled as
50 m offsets to well-mineralized holes previously reported from the
Southwest high-grade copper-gold zone. Key results from these holes
are summarized below and in Table 1. Drill hole locations are noted
in Figure 1.  


 
--  RGR-12-111 intersected oxide gold mineralization commencing from
    surface:  
    --  112.00 m with 0.53 g/t Au and 0.01% Cu 
    --  including 64.00 m with 0.63 g/t Au and 0.01% Cu 
        
--  RGR-12-111 intersected higher grade copper-gold sulphide zone at depth: 
    --  195.50 m with 0.53 g/t Au and 0.36% Cu (1.31 g/t Au Eq) 
    --  including 67.50 m with 0.75 g/t Au and 0.50% Cu (1.82 g/t Au Eq) 
        
--  RGR-12-107 intersected two zones of higher grade copper-gold sulphide
    zone at depth:  
    --  34.00 m with 0.71 g/t Au and 0.47% Cu (1.57 g/t Au Eq) 
    --  including 12.00 m with 1.26 g/t Au and 0.72% Cu (2.54 g/t Au Eq) and
    --  32.00 m with 0.76 g/t Au and 0.71% Cu (2.09g/t Au Eq) 
    --  including 10.00 m with 1.51 g/t Au and 1.46% Cu (4.23 g/t Au Eq) 
        
--  RGR-12-116 intersected higher grade copper-gold sulphide zone at depth: 
    --  34.95 m with 1.10 g/t Au, 1.02% Cu, and 46.5 g/t Ag (3.71 g/t Au Eq)
    --  including 14.40 m with 2.07 g/t Au, 2.12% Cu, and 104 g/t Ag (7.61
        g/t Au Eq) 

 
John Black, President and CEO of Regulus commented as follows: "We
have now intersected the high-grade copper-gold Southwest zone on
four parallel drill sections, spaced at approximately 50 metre
intervals with a vertical extent of mineralization exceeding 500 m.
Mineralization remains open both laterally and to depth but appears
to be decreasing in grade, thickness and gold/copper ratio away from
the high-grade core defined by drill holes RGR-11-086, RGR-12-099 and
RGR-12-106. The geometry of the mineralized zone is now quite well
constrained as a tabular zone with a northw
est strike and dipping
steeply to the northeast. The true thickness of the zone is variable
and not fully constrained but appears to be approximately 40-80 m at
a cut-off grade of 0.5% Cu Equivalent in the central portion of the
zone. We are currently in the process of integrating the results of
this drilling campaign to identify additional targets similar to the
Southwest high-grade copper-gold zone within other portions of the
Rio Grande ring structure." 
Results of 2012 Drilling To Date 
Twenty-seven drill holes (23,871 m) have been completed to date in
the ongoing 2012 Rio Grande drilling program with additional drilling
currently in progress. The drilling has concentrated in the immediate
vicinity of the significant intercepts previously reported from drill
holes RGR-11-86 and RGR-11-88 in the Southwest zone of the Rio Grande
system (see Regulus news releases of December 14, 2011 and February
8, 2012). Results from the first thirteen holes of the 2012 drilling
program have been previously released (August 14, September 20, and
October 25, 2012) and results from an additional six holes are
presented here. Please note that Regulus is also issuing an
additional press release at the same time as this communication to
announce the discovery of a significant new gold zone two kilometers
to the northeast from the principal Rio Grande system. A single drill
hole (RGR-12-118) was completed into the Northeast Gold target this
campaign and intersected an interval of 297 m with 0.36 g/t gold and
0.06% copper starting from the surface. This mineralization
occurrence is very similar in nature to Mansfield Minerals' (TSX
VENTURE:MDR) Lindero gold deposit located ten kilometers to the
southeast.  
The locations of drill holes presented in this release are indicated
on Figure 1. Please also refer to the Regulus Resources website,
www.regulusresources.com for additional information about Regulus and
the Rio Grande Project. Additional description of the holes presented
in this release follows below. 


 
----------------------------------------------------------------------------
RGR-12-107                  From (m)     To (m)     Metres   Au g/t     Cu %
----------------------------------------------------------------------------
TD = 1092.10                  206.00     226.00      20.00     0.10    0.51%
----------------------------------------------------------------------------
                              347.00     366.00      19.00     0.35    0.12%
----------------------------------------------------------------------------
                              394.00     414.65      20.65     0.41    0.30%
----------------------------------------------------------------------------
                              495.00     529.00      34.00     0.71    0.47%
----------------------------------------------------------------------------
                including     515.00     527.00      12.00     1.26    0.72%
----------------------------------------------------------------------------
                              690.00     722.00      32.00     0.76    0.71%
----------------------------------------------------------------------------
                including     708.00     718.00      10.00     1.51    1.46%
----------------------------------------------------------------------------
RGR-12-109                  From (m)     To (m)     Metres   Au g/t     Cu %
----------------------------------------------------------------------------
TD = 1107.30                  310.75     802.00     491.25     0.22    0.20%
----------------------------------------------------------------------------
                              310.75     367.50      56.75     0.30    0.21%
----------------------------------------------------------------------------
                              493.50     514.50      21.00     0.42    0.31%
----------------------------------------------------------------------------
                              523.00     558.00      35.00     0.28    0.24%
----------------------------------------------------------------------------
                              648.00     677.75      29.75     0.35    0.40%
----------------------------------------------------------------------------
RGR-12-111                  From (m)     To (m)     Metres   Au g/t     Cu %
----------------------------------------------------------------------------
TD = 985.50                     4.50     116.50     112.00     0.53    0.01%
----------------------------------------------------------------------------
                including       4.50      68.50      64.00     0.63    0.01%
----------------------------------------------------------------------------
                              303.50     499.00     195.50     0.53    0.36%
----------------------------------------------------------------------------
                including     374.50     442.00      67.50     0.75    0.50%
----------------------------------------------------------------------------
RGR-12-113                  From (m)     To (m)     Metres   Au g/t     Cu %
----------------------------------------------------------------------------
TD = 658.50                    67.50     258.00     190.50     0.24    0.08%
---------------------------
-------------------------------------------------
                               67.50     118.50      51.00     0.35    0.01%
----------------------------------------------------------------------------
                              124.50     141.00      16.50     0.33    0.04%
----------------------------------------------------------------------------
                              200.00     216.95      16.95     0.40    0.04%
----------------------------------------------------------------------------
                              326.65     342.00      15.35     0.23    0.05%
----------------------------------------------------------------------------
                              365.50     392.25      26.75     0.37    0.48%
----------------------------------------------------------------------------
RGR-12-115                  From (m)     To (m)     Metres   Au g/t     Cu %
----------------------------------------------------------------------------
TD = 978.80                   182.80     194.00      11.20     0.34    0.03%
----------------------------------------------------------------------------
                              286.65     334.00      47.35     0.62    0.35%
----------------------------------------------------------------------------
                              388.00     530.00     142.00     0.36    0.39%
----------------------------------------------------------------------------
including                     390.00     430.00      40.00     0.55    0.45%
----------------------------------------------------------------------------
                              799.00     815.00      16.00     0.35    0.12%
----------------------------------------------------------------------------
                              916.00     928.00      12.00     0.33    0.10%
----------------------------------------------------------------------------
RGR-12-116                  From (m)     To (m)     Metres   Au g/t     Cu %
----------------------------------------------------------------------------
TD = 1470.50                  199.00     504.00     305.00     0.33    0.22%
----------------------------------------------------------------------------
                              331.00     355.00      24.00     0.34    0.03%
----------------------------------------------------------------------------
                              371.80     406.75      34.95     1.10    1.02%
----------------------------------------------------------------------------
                including     382.10     396.50      14.40     2.07    2.12%
----------------------------------------------------------------------------
                              416.00     502.00      86.00     0.30    0.26%
----------------------------------------------------------------------------
                              623.00     656.00      33.00     0.34    0.34%
----------------------------------------------------------------------------
                              868.20    1131.50     263.30     0.23    0.09%
----------------------------------------------------------------------------
                including     902.00     941.00      39.00     0.29    0.10%
----------------------------------------------------------------------------
                      and    1028.00    1064.00      36.00     0.41    0.12%
----------------------------------------------------------------------------
                      and    1105.45    1124.05      18.60     0.35    0.18%
----------------------------------------------------------------------------
 
----------------------------------------------------------------------------
RGR-12-107                   Ag g/t      Mo %   Au Eq   Cu Eq   Mineral Zone
----------------------------------------------------------------------------
TD = 1092.10                   1.50    0.000%                      Supergene
----------------------------------------------------------------------------
                               5.18    0.002%                      Supergene
----------------------------------------------------------------------------
                               1.57    0.009%    1.01   0.59%        Primary
----------------------------------------------------------------------------
                               0.90    0.006%    1.57   0.92%        Primary
----------------------------------------------------------------------------
                including      1.19    0.003%    2.54   1.48%        Primary
----------------------------------------------------------------------------
                               3.44    0.008%    2.09   1.22%        Primary
----------------------------------------------------------------------------
                including      6.30    0.015%    4.23   2.47%        Primary
----------------------------------------------------------------------------
RGR-12-109                   Ag g/t      Mo %   Au Eq   Cu Eq   Mineral Zone
----------------------------------------------------------------------------
TD = 1107.30                   0.95    0.005%    0.61   0.36%        Primary
----------------------------------------------------------------------------
                               1.05    0.002%    0.69   0.40%   Transitional
----------------------------------------------------------------------------
                               1.46    0.004%    1.01   0.59%        Primary
----------------------------------------------------------------------------
                               1.37    0.002%    0.73   0.43%        Primary
----------------------------------------------------------------------------
                               0.88    0.008%    1.11   0.65%        Primary
----------------------------------------------------------------------------
RGR-12-111                   Ag g/t      Mo %   Au Eq   Cu Eq   Mineral Zone
----------------------------------------------------------------------------
TD = 985.50                    1.16    0.013%                      Supergene
----------------------------------------------------------------------------
                including      1.56    0.014%                      Supergene
----------------------------------------------------------------------------
                               1.85    0.019%    1.31   0.76%   Transitional
----------------------------------------------------------------------------
                including      2.70    0.024%    1.82   1.06%        Primary
----------------------------------------------------------------------------
RGR-12-113                   Ag g/t      Mo %   Au Eq   Cu Eq   Mineral Zone
----------------------------------------------------------------------------
TD = 658.50                    0.51    0.003%                      Supergene
----------------------------------------------------------------------------
                               0.59    0.001%                      Supergene
----------------------------------------------------------------------------
                               0.56    0.001%                      Supergene
----------------------------------------------------------------------------
                               0.53    0.006%                      Supergene
----------------------------------------------------------------------------
                               1.50    0.009%            
          Supergene
----------------------------------------------------------------------------
                               1.42    0.010%    1.29   0.75%   Transitional
----------------------------------------------------------------------------
RGR-12-115                   Ag g/t      Mo %   Au Eq   Cu Eq   Mineral Zone
----------------------------------------------------------------------------
TD = 978.80                    0.59    0.004%                      Supergene
----------------------------------------------------------------------------
                               1.66    0.006%                      Supergene
----------------------------------------------------------------------------
                               1.82    0.012%    1.14   0.67%        Primary
----------------------------------------------------------------------------
including                      1.37    0.021%    1.49   0.87%        Primary
----------------------------------------------------------------------------
                               0.34    0.001%    0.57   0.33%        Primary
----------------------------------------------------------------------------
                               0.13    0.001%    0.51   0.30%        Primary
----------------------------------------------------------------------------
RGR-12-116                   Ag g/t      Mo %   Au Eq   Cu Eq   Mineral Zone
----------------------------------------------------------------------------
TD = 1470.50                   9.54    0.002%                      Supergene
----------------------------------------------------------------------------
                               0.36    0.004%                      Supergene
----------------------------------------------------------------------------
                              46.52    0.003%    3.71   2.16%   Transitional
----------------------------------------------------------------------------
                including    103.77    0.005%    7.61   4.44%   Transitional
----------------------------------------------------------------------------
                              14.04    0.009%    1.06   0.62%        Primary
----------------------------------------------------------------------------
                              70.06    0.010%    2.25   1.31%        Primary
----------------------------------------------------------------------------
                               1.01    0.007%    0.45   0.26%        Primary
----------------------------------------------------------------------------
                including      0.43    0.005%    0.50   0.29%        Primary
----------------------------------------------------------------------------
                      and      2.33    0.006%    0.70   0.41%        Primary
----------------------------------------------------------------------------
                      and      1.01    0.011%    0.75   0.44%        Primary
----------------------------------------------------------------------------

 
Table 1: Rio Grande Drill Results 
(i)Copper equivalent calculation uses US$2.50/lb Cu, US$1,000/Oz Au,
US$18.00/Oz Ag and US$10.00/lb Mo and is not adjusted for
metallurgical recoveries as these remain uncertain. The formula to
calculate Cu equivalent is Cu Eq. = (Cu x 1) + (Au x 0.5833) + (Ag x
0.0105) + (Mo x 4). Intercepts are reported as down-hole intercept
lengths and may not necessarily represent true widths. 
To view "Figure 1: Rio Grande Drill Hole Location Map", please visit
the following link: http://file.marketwire.com/release/regmap111.pdf  
To view "Figure 2: Rio Grande - Section 613,350E", please visit the
following link: http://media3.marketwire.com/docs/regmap2.pdf  
Drill Hole Descriptions 
The six drill holes presented here were all drilled to test for
extensions of high-grade copper-gold mineralization previously
reported in drill holes RGR-11-086, RGR-12-099, and RGR-12-106 at the
Southwest high-grade copper-gold zone. The holes are typically
lateral or vertical step outs of approximately 50 m from previous
holes and most are oriented on north-south drill sections.  
Drill results to date indicate that the high-grade mineralized zone
is a tabular body striking approximately 150 degrees and dipping
approximately 75-80 degrees to the northeast. The true thickness of
the zone is variable and not fully constrained but appears to be
approximately 40-80 m at a cut-off grade of 0.5% Cu Equivalent. Along
strike to the east and west the thickness and average grade of the
zone appears to be decreasing. 
RGR-12-107 was drilled to the west as a cross hole to better
determine the geometries of the mineralized zone and associated
dykes. This hole intersected two zones of higher grade copper-gold
sulphide zone at depth: 34.00 m with 0.71 g/t Au and 0.47% Cu (1.57
g/t Au Eq) and 32.00 m with 0.76 g/t Au and 0.71% Cu (2.09 g/t Au
Eq). It is not yet clear if the zone has split into two parallel
zones or if a single, narrower zone has been repeated by faulting. 
RGR-12-109 was drilled beneath drill hole RGR12-99 but failed to
intersect high-grade mineralization. It did encounter a long interval
of low-grade mineralization (491 metres grading 0.22% Cu and 0.20 g/t
Au) that may be the net result of dilution by late to post-mineral
dykes and the effects of an overprint of late, copper-barren
alteration.  
RGR-12-111 was drilled below RGR-12-106 to test for the down dip
extension of the high-grade copper-gold zone (please refer to the
cross section in Figure 2). The hole intersected a near surface oxide
gold zone with 112.00 m containing 0.53 g/t Au and 0.01% Cu including
64.00 m with 0.63 g/t Au and 0.01% Cu starting at surface. The hole
extended the high-grade sulphide zone to 500 metres depth with an
interval of 195.50 m containing 0.53 g/t Au and 0.36% Cu (1.31 g/t Au
Eq.) including 67.50 m with 0.75 g/t Au and 0.50% Cu (1.82 g/t Au
Eq). 
RGR-12-113 was drilled above RGR-12-099 to test the leached cap above
the high-grade copper-gold zone. As anticipated, the hole encountered
gold oxide mineralization with low copper contents. The gold grade
was somewhat lower than anticipated with an interval 190.50 m
containing 0.24 g/t Au and 0.08% Cu. Within this interval there are
narrow zones with gold grades in the 0.3-0.5 g/t range. 
RGR12-115 was collared approximately 40 m to the east of RGR11-099.
The hole intersected a number of mineralized zones including 47.35
metres with 0.35% Cu and 0.62 g/t Au in the oxide zone and 142 metres
of sulphide mineralization with 0.45% Cu and 0.55g/t Au (1.14 g/t Au
Eq.). 
RGR-12-116 is located on the north-south drill section 50 m to the
west of RGR-12-106. The hole intersected a narrow high-grade
copper-gold sulphide zone at depth with 34.95 m of 1.10 g/t Au, 1.02%
Cu, and 46.5 g/t Ag (3.71 g/t Au Eq) including 14.40 m with 2.07 g/t
Au, 2.12% Cu, and 104 g/t Ag (7.61 g/t Au Eq). This hole was extended
to depth to test for quartz stockwork gold mineralization like that
encountered in hole RGR-12-100 to the south. Unfortunately the hole
deviated considerably to the west and failed to test the area below
RGR-12-100, although it did intersect a low grade zone of gold
mineralization associated with quartz stockwork veining (263.30 m
with 0.23 g/t Au and 0.09% Cu). 
Rio Grande Copper-Gold-Molybdenum Project Summary 
The Rio Grande Project is located approximately 55 km southwest of
the Taca Taca porphyry copper deposit of Lumina Copper and 11 km west
of the Lindero gold deposit of Mansfield Minerals in Salta Province,
northwestern Argentina. A NI 43-101 compliant resource estimate was
released for the project late last year (please refer to news release
of December 6th, 2011). 
The resource estimate, utilizing a 0.40% copper equivalent cut off
grade, is summarized below:  


 
--  Indicated Resource: 55,257,862 tonnes with 0.342% Cu, 0.359 g/t Au, 4.38
    g/t Ag    
--  Inferred Resource: 101,088,174 tonnes with 0.303% Cu, 0.308 g/t Au, 4.45
    g/t Ag    
    
--  Indicated Resource: 637,025 oz Au, 
7,787,342 oz Ag, 416,240,000 lbs Cu  
--  Inferred Resource: 1,002,458 oz Au, 14,449,042 oz Ag, 674,405,000 lbs Cu

 
Approximately 53% of the published resource is oxide mineralization,
35% is transitional oxide-sulphide mineralization and 12% is sulphide
mineralization.  
The current resource estimate utilized all drilling at Rio Grande
prior to 2010. The Southwest Zone was discovered in late 2011 and is
not included in the current resource estimate. Further drilling in
2012 has now revealed that several mineralization styles are present
in the Southwest Zone and these will be referred to as the a)
Southwest copper-gold sulphide, b) Southwest supergene copper, c)
Southwest oxide gold, d) Southwest molybdenum, and the newly
discovered e) Southwest gold quartz stockwork zones. The approximate
spatial relationship between these zones is illustrated in Figure 2
below.  
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. (TSX:FM).
Regulus has been exploring the Rio Grande Cu-Au-Ag 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). 
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
Phone: +1 720 514-9036
Mobile: +1-303 618-7797 
Regulus Resources Inc.
Wayne Hewgill, P.Geo
COO
Phone: +1 778 438-2481
Mobile +1 604 961-0033
 
 
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