January 16, 2020, (Vancouver, BC) - Regulus Resources Inc. (“Regulus” or the “Company”, REG TSX.V) is pleased to announce the results from six additional drill holes from the Phase II drill program, the aim of which is to expand and infill resources at the Company’s AntaKori copper-gold project in northern Peru. The drilling campaign is underway in collaboration with Compañía Minera Coimolache S.A. (“Coimolache”), the operator of the Tantahuatay gold mine immediately to the south of the AntaKori project. Hole AK-19-039 successfully extended and expanded the zone of base metal carbonate mineralization (contains higher grade gold and silver than the rest of the known deposit), which was previously encountered in holes AK-19-026, AK-18-025 and AK-18-023 (see Regulus press release dated January 30, 2019). Hole AK-19-041 demonstrates the downward continuity of previously released holes AK-19-034 and AK-19-037, while hole AK-19-042 demonstrates the upward continuity of previously released hole AK-19-035. Holes AK-19-038, AK-19-040 and AK-19-043 infilled a gap in the resource model on the eastern edge of the property and ultimately defined the eastern limits of the skarn style mineralization, all of which will help with our goal of defining the overall footprint of the orebody. Results from holes AK-19-038, AK-19-039, AK-19-040, AK-19-041, AK-19-042 and AK-19-043 are reported in Table 1.  

Highlights from drill holes AK-19-038 through AK-19-043 - AntaKori Project:  

• AK-19-039:
  • 168.75 m of 0.38% Cu, 0.65 g/t Au and 32.69 g/t Ag (1.15% CuEq) from 111.45 m
    • Including 14.10 m of 0.95% Cu, 0.8 g/t Au and 24.92 g/t Ag (1.75% CuEq) from 246.60 m
  • 51.50 m of 0.21% Cu, 0.55 g/t Au and 5.38 g/t Ag (0.65% CuEq) from 383.60
    • Including 12.15 m of 0.38% Cu, 1.02 g/t Au and 10.37 g/t Ag (1.20% CuEq)
  • Represents discovery of multiple wide zones of base metal carbonate style epithermal mineralization with significant precious metal content
  • Provides new targets to follow up with future drilling  

• AK-19-041:
  • 341.00 m of 0.57% Cu, 0.28 g/t Au and 9.29 g/t Ag (0.85% CuEq) from 202.00 m
    • Including 64.15 m of 1.71% Cu, 0.79 g/t Au and 13.89 g/t Ag (2.40% CuEq) hosted within a high-sulphidation epithermal zone overprinting skarn
  • 172.13 m of 0.35% Cu, 0.14 g/t Au and 4.11 g/t Ag (0.48% CuEq) from 575.95 m
    • Including 52.00 m of 0.51% Cu, 0.22 g/t Au and 8.35 g/t Ag (0.75% CuEq) hosted in a high-sulphidation epithermal overprint
  • 539.43 m of 0.41% Cu, 0.09 g/t Au and 2.59 g/t Ag (0.50% CuEq) from 1040.10 m
  • Intersected mineralization and grades as expected, similar to the results previously reported for AK-19-034 (which was drilled from the same platform)

• AK-19-042:
  • 417.40 m of 0.23% Cu, 0.13 g/t Au and 3.90 g/t Ag (0.35% CuEq) from 470.60 m
  • 87.35 m of 0.21% Cu, 0.12 g/t Au and 3.12 g/t Ag (0.32% CuEq) from 929.35 m
  • Hosted predominantly in low arsenic skarn and porphyry mineralization

• AK-19-038:
  • 15.38 m of 2.14% Cu, 0.38 g/t Au and 24.96 g/t Ag (2.63% CuEq) from 374.82 m

• AK-19-040:
  • 15.30 m of 0.77% Cu, 0.18 g/t Au and 7.89 g/t Ag (0.97% CuEq) from 370.60 m

• AK-19-043:
  • 22.50 m of 0.93% Cu, 0.33 g/t Au and 11.71 g/t Ag (1.27% CuEq) from 290.80 m

John Black, Chief Executive Officer of Regulus, commented as follows: “We have yet to properly test the Anta Norte geophysical targets to the north of the property, however continued success along the margins of those targets encourages us that we’re on the cusp of a large system of mineralization that could add to the already sizable resource on the AntaKori property. The results from holes AK-19-041 and AK-19-042 continue to show that along the edges of the Anta Norte geophysical targets we are intersecting long runs of low arsenic, moderate grade mineralization. Hole AK-19-041 intersected two structures that contained high sulphidation epithermal mineralization and elevated arsenic levels, which were expected and previously intersected in hole AK-19-034. Hole AK-19-039 intersected long runs of base metal carbonate style mineralization that had a higher precious metals component than other areas of the deposit. We had intersected this carbonate zone previously in other holes, however the zone in AK-19-039 is significantly wider than we expected and opens a new zone of high-grade mineralization that warrants follow up drilling. Overall, the system at AntaKori continues to grow and we expect to add significant mineralization to the already sizeable resource defined in early 2019. The future looks bright at AntaKori and the next step in adding value to the project will be to properly test the Anta Norte geophysical targets starting in late Q1 of this year.”

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