VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) — Regulus Resources Inc. (“Regulus” or the “Company”, TSX-V: REG, OTCQX: RGLSF) is pleased to announce that it has entered into an option agreement whereby the Company can earn up to a 60% interest in certain claims (“GF Claims”) from Gold Fields La Cima S.A. (“Gold Fields”), a subsidiary company of Gold Fields Ltd. The addition of the GF claims (see Figure 1) grows the Company’s land position in the AntaKori copper-gold project, will increase future resource estimations via the ability to deepen and pushback the current conceptual resource pit on to these claims, and provide additional exploration opportunities to increase the mineralized footprint at the AntaKori project.
The terms of the option agreement are as follows:
John Black, CEO and Director of Regulus, commented: “Signing this agreement is a key step forward for the AntaKori project. The addition of these claims is strategic to the Company for several reasons. First, it significantly expands the AntaKori land position and further consolidates the region. Second, adding these claims allow us to layback our current resource estimation pit further than we could previously, which should add resources that are already classified but not within the current constraints of the estimated resource pit, and thus not reportable. Third, these claims are in the immediate vicinity of known mineralization and, while limited work has been completed on them to date, they present opportunities to expand the mineralized footprint at AntaKori. Finally, we are partnering with a well-regarded group in Gold Fields who have been operating in the region for quite some time.”
John Black added: “The key takeaways from this agreement are that Regulus has expanded its land position in a prolific district, added new targets to be drill tested, and that under any scenario, Regulus can now layback a mining operation onto the claims in this agreement.”
ON BEHALF OF THE REGULUS BOARD
(signed) “John Black”
CEO and Director
For further information, please contact:
Regulus Resources Inc.
Investor Relations Manager
Phone: +1 646 583-1404
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. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The AntaKori project currently hosts a resource with indicated mineral resources of 250 million tonnes with a grade of 0.48 % Cu, 0.29 g/t Au and 7.5 g/t Ag and inferred mineral resources of 267 million tonnes with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag (see press release dated March 1, 2019). Mineralization remains open in most directions.
For further information on Regulus Resources Inc., please consult our website at www.regulusresources.com.
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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.