Regulus Intersects 327.35 Metres with 0.91% Cu, 0.44 G/T Au and 9.84 G/T AG (1.31% CuEq) at Antakori Project, PERU Including 65 Metres with 1.86% Cu, 1.03 G/T Au and 21.95 G/T AG (2.80 % CuEq) IN Upper High Sulphidation Epithermal Zone
REGULUS INTERSECTS 327.35 METRES WITH 0.91% CU, 0.44 G/T AU AND
9.84 G/T AG (1.31% CUEQ) AT ANTAKORI PROJECT, PERU
INCLUDING 65 METRES WITH 1.86% CU, 1.03 G/T AU AND 21.95 G/T AG
(2.80 % CUEQ) IN UPPER HIGH SULPHIDATION EPITHERMAL ZONE
AND 140.41 METRES WITH 1.03% CU, 0.41 G/T AU AND 8.22 G/T AG
(1.39 % CUEQ) IN UNDERLYING SKARN/STOCKWORK ZONE
July 11, 2018, (Vancouver, BC) – Regulus Resources Inc. ("Regulus" or the "Company", REG TSX.V) is pleased
to announce the results from four additional drill holes at the Company’s AntaKori copper-gold-silver project in
northern Peru. The drilling campaign is underway in collaboration with Compañía Minera Coimolache S.A. (“CMC”),
the operator of the Tantahuatay gold mine immediately to the south of the AntaKori project (please refer to Regulus
news releases of January 24,, 2017 and April 5, 2017). Holes reported in this news release are AK-18-010, AK-18-
011, AK-18-012 and AK-18-013 (see Figure 1). Results are only reported herein for the portions of the drill holes
that occur within Regulus concessions.
The AntaKori system hosts two principal styles of copper-gold-silver sulphide mineralization: 1) skarn and breccias
within Cretaceous calcareous sedimentary rocks, likely associated with as-yet undiscovered porphyry mineralization;
and 2) younger, epithermal high-sulphidation mineralization in overlying Miocene volcanic rocks and breccias that
host the adjacent Tantahuatay heap-leach gold mine to the south. The younger high-sulphidation mineralization is
characterized by pyrite-enargite and locally overprints the earlier skarn mineralization (pyrite-chalcopyrite-
magnetite), particularly along the southern part of the AntaKori system. The current phase one drill program
commenced on the southernmost margin of the Regulus concessions and is now moving to the north onto Regulus
mineral concessions (see Figure 1). The initial holes have encountered the overlying Miocene volcanic rocks and high-
sulphidation style mineralization prior to entering into the Cretaceous sedimentary sequence and skarn at depth. As
the drilling progresses to the north, the volcanic rocks terminate, and drill holes will commence directly in the
skarn/porphyry environment within the Cretaceous sedimentary sequence (see Figures 2-5).
AK-18-010 through AK-18-013 were collared in Regulus mineral concessions within the footprint of the currently
reported AntaKori NI 43-101 inferred mineral resource of 294.8 million tonnes with 0.48% Cu, 0.36 g/t Au and 10.2
g/t Ag (see Southern Legacy news release of July 3, 2012; Wilson, 2012) to confirm and extend the known but only
partially delineated resource.
Highlights from drill holes AK-010 through AK-013 – AntaKori Project:
• AK-18-010:
o 327.35 m with 0.91% Cu, 0.44 g/t Au and 9.84 g/t Ag (1.31% CuEQ) from 293 m depth
including:
o 65.22 m with 1.86 % Cu, 1.03 g/t Au and 21.95 g/t Ag (2.80% CuEQ) from 310 m depth
§ High-sulphidation style mineralization in Miocene volcanic sequence
o 140.41 m with 1.03% Cu, 0.41 g/t Au and 8.22 g/t Ag (1.39% CuEQ) from 480 m depth
§ Skarn with strong phyllic overprint and low As contents
• AK-18-012:
o 222.10 m with 0.41% Cu, 0.22 g/t Au and 7.55 g/t Ag (0.64% CuEQ) from 24 m depth
§ High-sulphidation style mineralization in Miocene volcanic sequence
• AK-18-013:
o 537.40 m with 0.49% Cu, 0.23 g/t Au and 6.31 g/t Ag (0.71% CuEQ) from 126.50 m depth
including:
o 185.00 m with 0.76% Cu, 0.26 g/t Au and 6.85 g/t Ag from 126.50 m depth (1.00% CuEQ)
§ High-sulphidation style mineralization in Miocene volcanic sequence
o 352.40 m with 0.35% Cu, 0.21 g/t Au and 6.03 g/t Ag from 311.50 m depth (0.56% CuEQ)
§ Skarn and breccia style mineralization with lower As contents
John Black, Chief Executive Officer of Regulus, commented as follows: “Drilling at the AntaKori copper-gold-
silver project is now progressing well and we are very encouraged with the results. Drill hole AK-18-010 is a good
example of the type of holes that we were hoping to encounter in this program with lengthy intercepts of higher grade
copper-gold-silver mineralization in both the overlying high sulphidation zone as well as in the underlying skarn
environment. When we can report intercepts of more than 100 m of 1+% Cu with significant gold and silver and low
arsenic contents, we know we are well on our way to uncovering a new well-mineralized skarn/porphyry deposit under
the high-sulphidation epithermal zone which is also returning long intercepts of high-grade mineralization. The drill
program remains on schedule to allow us to deliver an updated interim resource estimate by the end of this year and
we look forward to reporting additional drill results soon.”
Discussion of results and update on drilling program
Table 1 below provides more details regarding the mineralized intercepts encountered in drill holes AK-18-010 to
AK-18-013. The locations of the reported drill holes are indicated on Figure 1. The design of the current drilling
program is for holes spaced on approximately 150 m centres along drill sections oriented at 045 degrees (SW-NE).
Three of the holes, AK-18-010, 011, and 013, are drilled to the NE at an azimuth of 045 degrees and an inclination of
-70 degrees. All three of these holes cut the full sequence of Miocene volcanic rocks (with high sulphidation pyrtite-
enargite epithermal mineralization), underlying Cretaceous calcareous sedimentary rocks (converted to skarn
assemblages) and basal quartzite (see Figures 2-5). The very bottom of each hole crosses into CMC concessions and
the holes terminate at 735-750 m depth. Drill holes AK-18-010 and AK-18-013 encountered the underlying
Cretaceous sedimentary rocks at the anticipated depth with well developed skarn present. Mineralization is very well
developed in the lower portion of AK-18-010 where an additional event of phyllic alteration and associated veinlets
of pyrite-chalcopyrite are superimposed on the skarn assemblage. This later event is potentially related to porphyry
style mineralization and results in notably higher grades of copper-gold-silver mineralization with low arsenic contents
(see Table 2 below). Drill hole AK-18-011 encountered a late breccia body at the anticipated depth of the contact
with underlying Cretaceous sedimentary rocks, resulting in only a minor of amount of the sedimentary rocks deep in
the hole. The breccia body is late and not well mineralized resulting in only scattered intercepts of reportable
mineralization in this hole. A similar situation occurs in nearby drill hole AK-17-005.
The fourth hole, AK-18-012, was drilled to the SW at an azimuth of 225 degrees and an inclination of -50 degrees and
was collared from the same pad as previously reported drill hole AK-18-009 (see Figure 4 – L650NW Section). This
hole was drilled back to the SW to test the Miocene volcanic sequence along the southern margin of the Regulus
concession adjacent to the Tantahuatay Mine. The drill hole was completed at a relatively shallow angle of -50 degrees
and remained entirely in Miocene volcanic rocks and breccias until crossing into CMC concessions at a depth of 460
m. Mineralized intervals are characterized by high sulphidation epithermal pyrite-enargite assemblages with elevated
arsenic contents (see Table 2). Active mining on the north wall of the Tantahuatay pit will require that several holes
along the southern portion of the Regulus concessions will need to be drilled back to the southwest to maintain drill
pads at a safe distance from the pit limit. Several additional holes are being drilled from the same pad as holes AK-
18-009 and AK-18-012 to produce a well controlled fence of holes along this section. Please refer to Figure 4 to see
the locations of drill holes AK-18-014 (completed and to be reported soon) and AK-18-017 (just completed at 996.51
m depth).
Figure 1 shows the location of the drill holes reported in this release and the section lines represented in Figures 2-5
as well as holes recently completed and in progress. Drill holes AK-18-014, 015 and 016 have been completed and
will be reported soon. Drill holes AK-18-018 and AK-18-019 have just been terminated, holes AK-18-018 and 020
are in progress, and AK-18-21 will commence in next day or two. Approximately 13,500 m of drilling has been
completed within Regulus concessions in the current drilling program. Drilling is continuing with 3 rigs operating
with plans in progress to add an additional rig soon.
Table 1. AK-17-010 Through AK-18-013 Results
Drill Hole ID From
(m)
To
(m)
Length
(m)
Copper
(%)
Gold
(g/t)
Silver
(g/t)
Cu Eq
%
Au Eq
g/t
AK-18-010 225.00 241.55 16.55 0.50 0.19 4.30 0.68 0.95
264.60 277.10 12.50 0.30 0.12 4.10 0.42 0.59
292.61 619.96 327.35 0.91 0.44 9.84 1.31 1.84
including 309.68 374.90 65.22 1.86 1.03 21.95 2.80 3.92
which includes 345.55 369.00 23.45 4.02 2.24 33.88 5.93 8.31
and 479.55 619.96 140.41 1.03 0.41 8.22 1.39 1.95
which includes 525.71 552.40 26.69 2.51 0.66 8.63 3.06 4.29
619.96 750.00 Not within Regulus Concessions - not reportable by Regulus
Total depth 750.00
AK-18-011 22.90 78.10 55.20 0.31 0.15 1.54 0.43 0.61
including 59.95 78.10 18.15 0.48 0.21 2.11 0.65 0.91
339.56 387.66 48.10 0.43 0.12 6.09 0.57 0.80
including 346.40 372.30 25.90 0.64 0.17 9.04 0.84 1.18
434.00 464.31 30.31 0.24 0.20 5.49 0.43 0.61
486.21 586.20 99.99 0.28 0.11 4.64 0.40 0.56
586.20 735.71 Not within Regulus Concessions - not reportable by Regulus
Total depth 735.71
AK-18-012 23.70 245.80 222.10 0.41 0.22 7.55 0.64 0.89
including 143.95 161.00 17.05 0.57 0.46 7.40 0.96 1.35
and 176.00 196.15 20.15 2.10 0.47 19.33 2.61 3.66
356.55 432.00 75.45 0.14 0.36 9.88 0.48 0.68
including 373.40 405.00 31.60 0.12 0.60 12.92 0.67 0.94
460.28 500.25 Not within Regulus Concessions - not reportable by Regulus
Total depth 500.25
AK-17-013 63.00 80.15 17.15 1.02 0.26 7.90 1.27 1.79
126.50 663.90 537.40 0.49 0.23 6.31 0.71 1.00
including 142.20 179.20 37.00 1.52 0.36 8.24 1.85 2.60
and 203.45 249.15 45.70 0.84 0.23 7.03 1.07 1.50
and 260.30 275.25 14.95 0.88 0.48 6.85 1.28 1.80
and 287.00 311.50 24.50 0.77 0.40 14.89 1.19 1.67
and 586.00 620.51 34.51 0.67 0.29 2.97 0.90 1.26
687.09 738.81 Not within Regulus Concessions - not reportable by Regulus
Total depth 738.81
Cu Eq and Au Eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.25/lb, Au –
US$1,100/oz, and Ag – US$14/oz. All intervals presented consist of sulphide mineralization. No adjustments were made for recovery as the project
is an early stage exploration project and metallurgical data to allow for estimation of recoveries is not yet available. The formulas utilized to
calculate equivalent values are Cu Eq (%) = Cu% + (Au g/t * 0.7130) + (Ag g/t * 0.0091) and Au Eq (g/t) = Au g/t + (Cu% * 1.4026) + (Ag g/t *
0.0127).
Table 2. AK-17-010 Through AK-18-013 Results Presented by Lithology/Alteration Style
Drill Hole ID From
(m)
To
(m)
Length
(m)
Copper
(%)
Gold
(g/t)
Silver
(g/t)
Zinc
(%)
As
(ppm)
AK-18-010
Miocene Volcanic (HS) 225.00 241.55 16.55 0.50 0.19 4.30 0.00 1,881
Miocene Volcanic (HS) 264.60 277.10 12.50 0.30 0.12 4.10 0.00 1,065
Miocene Volcanic (HS) 292.61 421.26 128.65 1.04 0.60 13.04 0.01 3,792
Miocene Volcanic (HS) 309.68 374.90 65.22 1.86 1.03 21.95 0.01 6,846
Miocene Volcanic (HS) 345.55 369.00 23.45 4.02 2.24 33.88 0.01 14,672
Skarn/breccia 421.26 619.96 198.70 0.83 0.34 7.78 0.04 130
Skarn/breccia 479.55 619.96 140.41 1.03 0.41 8.22 0.02 128
Skarn/breccia 525.71 552.40 26.69 2.51 0.66 8.63 0.04 32
AK-18-011
Miocene Volcanic (HS) 22.90 78.10 55.20 0.31 0.15 1.54 0.01 993
Miocene Volcanic (HS) 59.95 78.10 18.15 0.48 0.21 2.11 0.01 1,506
Miocene Volcanic (HS) 339.56 387.66 48.10 0.43 0.12 6.09 0.02 1,480
Miocene Volcanic (HS) 346.40 372.30 25.90 0.64 0.17 9.04 0.02 2,179
Miocene Volcanic (HS) 434.00 464.31 30.31 0.24 0.20 5.49 0.09 384
Miocene Volcanic (HS) 486.21 522.80 36.59 0.22 0.14 5.04 0.04 596
Skarn/breccia 522.80 586.20 63.40 0.31 0.09 4.67 0.10 101
AK-18-012
Miocene Volcanic (HS) 23.70 245.80 222.10 0.41 0.22 7.55 0.04 1,233
Miocene Volcanic (HS) 143.95 161.00 17.05 0.57 0.46 7.40 0.04 1,983
Miocene Volcanic (HS) 176.00 196.15 20.15 2.10 0.47 19.33 0.08 7,626
Miocene Volcanic (HS) 356.55 432.00 75.45 0.14 0.36 9.88 0.30 477
Miocene Volcanic (HS) 373.40 405.00 31.60 0.12 0.60 12.92 0.35 594
AK-17-013
Miocene Volcanic (HS) 63.00 80.15 17.15 1.02 0.26 7.90 0.00 3,394
Miocene Volcanic (HS) 126.50 311.50 185.00 0.76 0.26 6.85 0.09 2,147
Miocene Volcanic (HS) 142.20 179.20 37.00 1.52 0.36 8.24 0.00 5,178
Miocene Volcanic (HS) 203.45 249.15 45.70 0.84 0.23 7.03 0.00 2,720
Miocene Volcanic (HS) 260.30 275.25 14.95 0.88 0.48 6.85 0.01 2,200
Miocene Volcanic (HS) 287.00 311.50 24.50 0.77 0.40 14.89 0.59 209
Skarn/breccia 311.50 663.90 352.40 0.35 0.21 6.03 0.15 267
Skarn/breccia 586.00 620.51 34.51 0.67 0.29 2.97 0.01 86
HS = high-sulphidation epithermal style mineralisation. This table reports the mineralized intervals based upon lithology and demonstrates the
notable difference in arsenic content between high-sulphidation mineralization in the Miocene volcanic sequence (typically 1000-5000 ppm As)
and the lower concentrations found in the zones of skarn mineralization (typically 100-400 ppm As). As drilling progresses to the north over the
next few months, it is anticipated that the skarn will be less affected by the late high-sulphidation overprint and As contents will decrease.
The true widths of the mineralized intervals reported in Tables 1 and 2 are difficult to ascertain and additional drilling
will be required to constrain the geometry of the mineralized zones.
Drill holes AK-18-010 and AK-18-013 both encountered significant high-sulphidation epithermal mineralization in
the overlying Miocene volcanic sequence and well-developed Cu-Au-Ag skarn mineralization in the underlying
Cretaceous calcareous sedimentary rocks (see Tables 1 and 2 and Figures 2 and 5). The skarn sequence is mostly
characterized by retrograde skarn assemblages and is cut by numerous breccias and feldspar porphyry dikes. Sulphide
mineralization within the Miocene volcanic rocks is predominantly pyrite-enargite whereas mineralization within the
skarn sequence is pyrite-chalcopyrite with pyrite notably more abundant than chalcopyrite.
Figures 2, 3, 4 and 5 show representative geologic cross sections of for holes AK-18-010, AK-18-011, AK-18-012
and AK-08-013. Additional sections for the other holes reported here and from previously reported holes can be found
on the Regulus website: www.regulusresources.com
Drill holes AK-18-014 through AK-18-016 (Figure 1) have been completed and results will be released shortly. Drill
holes AK-18-017 and 019 have just been terminated, holes AK-18-018 and 020 are in progress, and hole AK-18-021
will commence in the next day or two. The 18,000+ m phase one drill program will systematically drill out and extend
the previous resource at AntaKori on approximately 150 m centers with a few more closely spaced holes to help
determine the geometry of geologic units and the spatial variation of mineralization. The objective of the phase one
drill program is to confirm and extend the previously reported mineralization with an updated resource estimate to be
completed by the end of this year.
The Company also announces that previously announced incentive stock options to purchase up to 50,000 common
shares have been set at a price of $2.00 per share for a period of five years under the terms and conditions of the
Company’s Stock Option Plan, subject to regulatory approval (see Regulus news release dated April 17, 2018).
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. and the AntaKori Project
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. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The
AntaKori project currently hosts an inferred mineral resource of 294.8 million tonnes with a grade of 0.48% Cu, 0.36
g/t Au and 10.2 g/t Ag based upon 17,950 m of drilling by previous operators (see Southern Legacy Minerals press
release of July 3rd, 2012 - Southern Legacy Minerals and the Company entered into a business arrangement in 2014
and kept the name Regulus Resources Inc.). Mineralization remains open in most directions and drilling is currently
underway to confirm and increase the size of the resource.
For further information on Regulus Resources Inc., please consult our website at www.regulusresources.com
Qualified Person
The scientific and technical data contained in this news release pertaining to the AntaKori project has been reviewed
and approved by Dr. Stewart D. Redwood, BSc (Hons), PhD, FIMMM, FGS, Consulting Geologist - AntaKori Project,
who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
Sampling and Analytical Procedures
Regulus follows systematic and rigorous sampling and analytical protocols which meet and exceed industry standards.
These protocols are summarized below and are available on the Regulus website at www.regulusresources.com.
All drill holes are diamond core holes with PQ, HQ or NQ core diameters. Drill core is collected at the drill site where
recovery and RQD (Rock Quality Designation) measurements are taken before the core is transported by truck to the
core logging facility at either the Tantahuatay Mine (CMC) or in Cajamarca (Regulus), where it is photographed and
geologically logged. The core is then cut in half with a diamond saw blade with half the sample retained in the core
box for future reference and the other half placed into a pre-labelled plastic bag, sealed with a plastic zip tie, and
identified with a unique sample number. The core is typically sampled over a 1 to 2 metre sample interval unless the
geologist determines the presence of an important geological contact. The bagged samples are then stored in a secure
area pending shipment to a certified laboratory sample preparation facility. Samples are sent by batch to either the
ALS or the SGS laboratories in Lima for assay. Regulus independently inserts certified control standards, coarse field
blanks, and duplicates into the sample stream to monitor data quality. These standards are inserted “blindly” to the
laboratory in the sample sequence prior to departure from the Regulus core storage facilities. At the laboratory samples
are dried, crushed, and pulverized and then analyzed using a fire assay – AA finish analysis for gold and a full multi-
acid digestion with ICP-AES analysis for other elements. Samples with results that exceed maximum detection values
for gold are re-analyzed by fire assay with a gravimetric finish and other elements of interest are re-analyzed using
precise ore-grade ICP analytical techniques.
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, the completion of the anticipated drilling program, the
completion of an updated NI 43-101 resource estimate 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.
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.
Figure 1. Drill hole locations – AntaKori Project. Current Regulus drilling program highlighted. Section
lines L550NW, L650NW, 850NW and L950NW that are shown in Figures 2-5. A full set of sections lines for
drilling reported to date is available on the Regulus website – www.regulusresource.com
Figure 2. Schematic geologic cross section L850NW indicating projected location of AK-18-010.
Figure 3. Schematic geologic cross section L550NW indicating projected location of AK-18-011.
Figure 4. Schematic geologic cross section L650NW indicating projected location of AK-18-012.