Regulus Announces Extension to Timelines FOR Completion of Definitive Agreements FOR Antakori Copper-GOLD Project, PERU

REGULUS ANNOUNCES EXTENSION TO TIMELINES FOR COMPLETION OF DEFINITIVE

AGREEMENTS FOR ANTAKORI COPPER-GOLD PROJECT, PERU

January 3, 2017, (Vancouver, BC) – Regulus Resources Inc. ("Regulus", REG TSX.V) announces that its

wholly owned Peruvian subsidiary, Southern Legacy Peru S.A.C., has executed extensions to the binding

Memorandum of Understanding (“MOU”) agreements executed in May 2016 with Compañía Minera Coimolache

S.A. (“Coimolache”) and Compañía Minera Colquirrumi S.A. (“Colquirrumi”) for collaborative exploration of the

AntaKori copper-gold project in northern Peru (please refer to the Regulus news release of May 18, 2016). As a

result of the extensions, the MOU terms and the timeline to complete the Coimolache Definitive Agreement have

been extended from December 31, 2016 to January 30, 2017 (30 additional days) and the MOU terms and the

timeline to complete the Colquirrumi Definitive Agreement have been extended from December 31, 2016 to March

30, 2017 (90 additional days).

John Black, Chief Executive Officer of Regulus, commented as follows:

"We are very actively engaged with Coimolache and Colquirrumi to complete the Definitive Agreements as soon as

possible. All parties involved want to make sure that these comprehensive agreements are properly crafted and that

the additional time will best allow this. We see no impediments to having the agreements signed soon and with

effectively the same terms as the MOUs. Planning for collaborative exploration continues and is well-advanced. The

delay in completion of the agreements is not expected to affect the start of our exploration program in 2017, with

drilling still planned to commence prior to the end of Q1. Additional details about the exploration program will be

announced as the Definitive Agreements are signed.”

For Further Information, please contact:

Regulus Resources Inc.

John E. Black, CEO / Director

Phone: +1 303 618-7797 mobile

+1 720 514-9036 office

Email: [email protected]

About Regulus Resources Inc.

Regulus Resources Inc. is an international mineral exploration company run by an experienced technical and

management team, with a portfolio of precious and base metal exploration properties located in North and South

America. For further information on Regulus Resources Inc., please consult our website at

www.regulusresources.com .

Neither the 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.

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. Often, but not always, forward -looking

statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is

expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or

"believes" or variations of such words and phrases or statements that certain actions, events or results "may",

"could", "would", "might" or "will" be taken, occur or be achieved.

Specifically, and without limitation, all statements included in this press release that address activities, events or

developments that Regulus expects or anticipates will or may occur in the future, including the proposed exploration

and development of the AntaKori project described herein, and management's assessment of future plans and

operations and statements with respect to the completion of the anticipated exploration and development programs,

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. The forward looking statements contained in this press release are made as of the date hereof and Regulus

does not undertake any obligation to publicly update or revise any forward -looking statements or information,

whether as a result of new information, future events or otherwise, unless so required by applicable securities law.