REG Regulus Resources Inc

Regulus Resources Inc. ("Regulus" or the "Company")(TSX VENTURE:REG) is pleased
to announce positive results from preliminary metallurgical work on the
Company's 50%-owned Rio Grande copper-gold-silver project in Salta Province,
Argentina. The Rio Grande project is a 50/50 joint venture between Regulus and
Pachamama Resources Inc. ("Pachamama") with Regulus acting as the operator. 


Mineralization at the Rio Grande project contains significant quantities of both
copper and gold and has been completely to partially oxidized to depths of 350m
or more with minimal remobilization of copper (please refer to companion news
release of even date for the Rio Grande initial resource estimate). Below these
depths the mineralization is associated with a chalcopyrite dominant, low pyrite
sulphide assemblage. A series of preliminary metallurgical tests have been
completed to determine potential for recovery of both metals and thereby provide
a context for evaluation of a concurrent initial resource estimate. The test
work consists of single and sequential leaching tests for copper and gold,
gravity separation tests for gold, and flotation-concentration studies. Test
work was completed on both oxidized and primary sulphide mineralization. 


The test work was conducted by ALS Chemex in Chile (ALS), Resource Development
Inc. (RDI) in Colorado and SGS Minerals Services in Ontario (SGS), all leading
analytical and metallurgical firms serving major and junior mining companies
with global resource projects. Highlights of the studies include the following:




--  Gold responds very well to cyanidation of both oxide and sulphide
    bearing material with cyanide consumption well within average ranges 
--  Single stage cyanidation bottle roll tests on oxide material average
    91.5% gold recovery 
--  Sequential sulphuric acid - cyanidation bottle roll tests on oxide
    material average 86.5% gold recovery and on sulphide material average
    92% gold recovery 
--  The SART (Sulphidation, Acidification, Recovery and Thickening) process
    recovers a very high percentage of cyanide and cyanide soluble copper
    and but total copper recovery is limited by the generally low percentage
    of cyanide soluble copper in the oxide material 
--  Sequential sulphuric acid - cyanidation bottle roll leach tests on oxide
    material indicate copper recoveries ranging from 50-84% with an average
    recovery of 71%. However, acid consumption is very high, ranging from
    37-136 kg/t (average approximately 70 kg/t) 
--  Gravity studies indicate gold recoveries of 13-42% in Gemini
    concentrates, however the concentrate grades are not high enough for
    direct smelt. Hence, gravity processing would only be practical if used
    in the grind circuit along with a conventional flotation process 
--  Flotation tests on oxidized to partially oxidized samples indicate gold
    recoveries ranging from 58 to 80% (average 67%); copper recoveries are
    predictably low in oxidized material (13-15% with suphidation) and
    improve to approximately 40% in partially oxidized material; flotation
    studies for sulphide material are still in progress 
--  Viable process options have been identified, particularly for gold, and
    further studies will proceed to better characterize the best
    alternatives for the project 
--  The initial resource estimate for the Rio Grande Project is presented in
    conjunction with these metallurgical studies in a separate news release
    of the same date



Mr. Wayne Hewgill, President and CEO of Regulus commented as follows:

"We are very encouraged with the results of the initial metallurgical studies at
the Rio Grande Project. We are particularly pleased with the gold results which
show very good recovery in both oxide and sulphide mineralization. Copper also
leaches quite well although overall recoveries may be somewhat lower than normal
due to incomplete oxidation and acid consumption will likely be high. The
purpose of these studies was to determine if both copper and gold can be
recovered utilizing conventional processing technology and these studies
indicate that both leaching and conventional flotation/concentration offer
pathways to recovery of both metals. 


There appear to be two logical process pathways that warrant further
investigation and definition. The first will be cyanide leaching combined with
the SART process to recover most of the gold and significant quantities of
copper. The second process pathway would be conventional flotation/concentration
with acid leaching of the concentrate tails for more oxidized material to allow
recovery of both copper and gold. Additional test work will be underway shortly
with fresh drill core from the current drilling program."


Summary of Metallurgical Test Work

A series of metallurgical studies were completed on coarse reject samples from
diamond drill core holes completed in 2005-2008 at the Rio Grande project (no
additional drilling was completed at the project in 2009-2010). The coarse
reject samples had been stored in sealed bags in dry conditions. Drilling that
is currently underway will provide fresh core sample for future test work.
Composite samples were prepared utilizing multiple drill intercepts to produce
samples representative of average mineralization grades and degrees of
oxidation. The test work was conducted by ALS Chemex in Chile (ALS), Resource
Development Inc. in Colorado (RDI) and SGS Minerals Services in Ontario (SGS).
The following metallurgical studies were completed in this phase of test work
and results are discussed below:




--  Sequential acid leach to understand basic copper leaching
    characteristics - ALS 
--  Cyanide gold leaching and SART testing - SGS 
--  Acid copper leaching and preliminary cyanide gold leaching - RDI 
--  Gravity separation for gold in oxide mineralization - RDI 
--  Conventional flotation/concentration tests on oxide and transitional
    mineralization - RDI



Gold Cyanide Leach Tests and SART - SGS

The results of cyanide leach bottle roll tests and SART processing of leach
solution at SGS indicate rapid leach time, very good gold recoveries, and good
recovery of cyanide soluble copper and cyanide using the SART process. Cyanide
bottle roll tests (48 hours, 40% solids, 1g/l NaCN, K80 approximately 75
microns) were conducted on four samples of oxide or transition mineralization
and three of these samples were selected for SART testing.




--  Very good Au recoveries were achieved from the four bottle roll tests
    using a standard cyanide leach with recoveries ranging from 88.4 to
    95.6% and averaging 91.5%. 
--  Ag recoveries were typically lower than gold and ranged from 39 to 47%. 
--  Cu recovery from the cyanide soluble copper in the SART process was
    excellent ranging from 97 to 100%, but is limited to only the cyanide
    soluble copper in the deposit. Therefore, net recoveries ranged from
    7.4% to 38.3 % Cu depending on the amount of cyanide soluble Cu in the
    limited number of samples evaluated. 
--  A sampling program will need to be completed to map out the amount of
    cyanide soluble copper in the oxide and transition mineralization at Rio
    Grande. 
--  The Cu is recovered as a high grade chalcocite concentrate in the range
    of 37% Cu. 
--  Net cyanide consumption during the gold leaching process was low
    averaging 2.05 kg/t for the four bottle roll cyanidation tests. 
--  The SART process indicates good cyanide recovery with SART recoverable
    CN ranging from 82-86% of the cyanide used in the leaching process. 



Sequential Sulphuric Acid - Cyanidation Leach tests for Copper and Gold - RDI

A total of 22 composite samples of coarse rejects from drill core were submitted
to RDI for sequential sulphuric acid - cyanidation bottle roll leach tests.
Twenty of the samples represented oxide or transitional oxide-sulphide material
and two of the samples were sulphide material.


The samples were first subjected to sulphuric acid leaching (72 hours, 40%
solids, 10 g/l acid, P100 - 150 mesh) and subsequently to cyanidation leaching
(48 hours, 40% solids, 1 g/l NaCN). A summary of the results obtained follows:




--  The majority of the soluble copper is in the form of acid soluble copper
    with significantly lesser amounts of cyanide soluble copper 
--  Copper recoveries from oxide material ranged from 50-84% (average 71% -
    15 samples), from transitional oxide-sulphide material ranged from 28-
    69% (average 58% - 5 samples), and from sulphide material ranged from
    9.1-9.4% (only two samples) 
--  Acid consumption was very high in all samples, ranging from 37-136 kg/t
    (average 70 kg.t) and with no notable variance depending upon amount of
    oxidation 
--  Gold recoveries from oxide material ranged from 76-94% (average 86.5% -
    15 samples), from transitional oxide-sulphide material ranged from 25-
    95% (average 69% - 5 samples), and from sulphide material ranged from
    91-93% (average 92% - only 2 samples) 
--  Cyanide consumption was reasonable for most of the composite sample,
    typically ranging from 0.2-0.7 Kg/t with values somewhat higher for
    samples where significant copper was also leached with the gold (up to 3
    kg/t).



Gravity Tests - RDI

Gravity concentration tests were conducted to determine if sufficient coarse
free gold exists to warrant this processing technique. The Gemini concentrates
captured 13-42% of the gold from representative composite samples of oxide,
transitional oxide-sulphide and sulphide material. However the gold grade of the
concentrates (9-30 g/t, with one sample of 72 g/t Au) was not sufficiently high
for direct smelt. Hence, gravity concentration will only be of potential value
if used in the grind circuit along with conventional flotation processing.


Flotation Tests - RDI Labs

Two representative bulk composite samples for oxide and transitional
oxide-sulphide material were subjected to a total of 10 rougher concentrate
flotation tests to evaluate variation in grind size and reagents. The results of
these studies are summarized below:




--  Gold recoveries in the rougher concentrate ranged from 58-67% for the
    oxide composite and from 67-80% for the transitional oxide-sulphide
    composite 
--  Copper recoveries in the rougher concentrate ranged from 6-15% for the
    oxide composite and from 27-40% for the transitional oxide-sulphide
    composite 
--  Sulfidation reagents appear to produce a slight increase in copper
    recoveries (to the upper end of the recovery ranges indicated above) 
--  Flotation studies for sulphide material are in progress and will
    incorporate fresh samples from current drilling



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. 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                    36,782,234 Common Shares              
Shares Fully Diluted                  39,366,234 Common Shares              



The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. 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://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 its anticipated drilling programs, future results, the completion
of a NI 43-101 compliant resource estimate, success of recovery of mineral
resources and mineral recovery methodologies 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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