REG Regulus Resources Inc

Regulus Resources Inc. (TSX VENTURE:REG) ("Regulus), is pleased to announce that
drilling is now underway on the company's 50%-owned Rio Grande
copper-gold-silver project in Salta Province, Argentina after an unusually
intense winter storm in the Puna during the mobilization caused some delays. The
drill program is planned for a total of 15,000 m utilizing two diamond drills.
The Rio Grande project is a 50/50 joint venture between Regulus and Pachamama
Resources Inc. ("Pachamama", PMA TSX.V) with Regulus acting as the operator. 


Over the last two months, the company has made significant progress in preparing
the Rio Grande project for its first drill program since 2008 as well as making
advancements towards obtaining its first 43-101 compliant resource estimate on
the project. The following programs are now completed or are underway; 




--  Quantec Titan 24 geophysical IP and resistivity survey 
    --  Completed 11 lines - Phase I report evaluation pending - 3D
        modelling underway 
--  RDI and SGS metallurgical test work 
    --  Expecting final results from both labs in August 
--  Wardrop Engineering 43-101 compliant resource estimate 
    --  Well on its way for completion in August (based on previous drilling
        only) 
--  15,000 metre Boart Longyear diamond drilling program 
    --  Both drills are now on site with the first drill operating 



The 15,000 metre diamond drilling program will consist of 1) infill and
extension drilling in the northern area of the Sofia Zone, 2) extension drilling
to the west of the existing drilling in the North Zone, 3) infill and extension
drilling in the # 7 Zone, 4) initial testing of the underexplored southwest
portion of the Rio Grande ring structure, 5) deep drilling into the deep
porphyry targets in the center of the Rio Grande ring structure.


Wayne Hewgill, President and CEO of Regulus comments: "We are very excited to be
back drilling and testing the outstanding potential at the Rio Grande project
after a 2 1/2 year break. During the financial crises of 2009, Antares Minerals
Inc. put the project on hold to focus its exploration funding on their
world-class Haquira copper-molybdenum porphyry discovery in southern Peru, which
led to the sale of Antares to First Quantum Minerals Ltd. in December 2010 and
the spin-out of Antares' 50% interest in the Rio Grande project into Regulus.
While earlier results from the 78 diamond drill holes on the project returned
excellent results, including 189 metres grading 0.70% Cu and 0.67 g/t Au and 11
g/t Ag, we are only now anticipating completion of the first 43-101 compliant
resource estimate on the property. We expect the results of the preliminary
metallurgical work and the first resource estimate to be released in Q3."


To more clearly define the deep porphyry targets in the centre of the 2.2 km
wide Rio Grande Ring structure, the company contracted Quantec Geoscience to
complete a 10 line, Titan 24 IP / resistivity survey covering the full extent of
the Rio Grande ring structure. The IP successfully outlined the contact between
the oxide and transitional material and the underlying fresh volcanic rocks and
the MT survey outlined a number of high priority drill targets at depth in the
central area of the Rio Grande Ring structure. An additional line was added to
the survey covering the Northeast Gold target located 1.6 kilometres from the
eastern edge of the Rio Grande ring structure. 


About Regulus Resources Inc.

Regulus Resources Inc. (REG TSX.V) is a mineral exploration company formed in
December 2010 in connection with the sale of Antares Minerals Inc. to First
Quantum Minerals Ltd. Regulus is currently exploring the Rio Grande Cu-Au-Ag
porphyry project in Salta Province of NW Argentina on a 50/50 joint-venture
basis with Pachamama Resources Ltd. 


Current Share Capital



Shares Outstanding                                  36,182,234 Common Shares
Shares Fully Diluted                                38,746,234 Common Shares



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' President, who serves as the qualified person (QP)
under the definitions of National Instrument 43-101.


Regulus' security, chain of custody and quality control is described on their
website and can be reviewed at:
http://regulusresources.com/BestPractices/SamplingMethodologies


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 have 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.

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