Regis Resources : RRL Tooheys Well Maiden Resource.pdf New

29 July 2016

Manager Announcements Company Announcements Office

Australian Securities Exchange Limited Level 4, 20 Bridge Street

Sydney NSW 2000

www.regisresources.com Level 1, 1 Alvan Street Subiaco WA 6008 Australia P 08 9442 2200

F 08 9442 2290

• Maiden Inferred Mineral Resource Estimate ('MRE') at Tooheys Well 14.6 MT @ 1.16 g/t gold for 547,000 ounces of gold at a 0.4g/t gold cut-off grade.

• The MRE at the Tooheys Well project is the result of drilling 164 holes for 25,002 metres. Drilling commenced in mid-2015 and has been escalated in recent quarters as the magnitude of the exploration opportunity has become apparent.‌

• Regis is particularly encouraged that the MRE reported above a 1.0g/t gold cut-off grade is 6.7 Mt @ 1.77 g/t. gold for 379,000 ounces, representing 70% of the quoted MRE. This average grade of 1.77g/t gold is the result of the very regular, wide intercepts of high grade mineralisation encountered at Tooheys Well.‌

• The MRE for Tooheys Well confirms the project has significant potential to deliver high grade mineralisation only 2.5 kilometres south of the 5mtpa Garden Well processing plant.

• Infill resource drilling and extensional drilling both immediately north and south of the +750 metres of strike covered by the MRE are underway. Regis is particularly interested in the largely untested continuation of the host pyrrhotite rich BIF unit to the south.

• The infill drilling is being expedited with a view to including in an update to the Resource estimate to be used as the basis for a maiden Ore Reserve estimate later in 2016.

• The discovery cost of less than $6 per resource ounce shows the compelling value creation proposition presented by Regis' targeted and aggressive organic growth strategy at the Duketon Gold Project.

• The discovery of Tooheys Well so close to an existing operation at Garden Well, is a clear demonstration of the exploration potential of the highly prospective shear zone which extends 2 kilometres north and at least 1 kilometre south of Tooheys Well.

• Ongoing exploration is also planned over the multiple targets still to be tested in the broader Garden Well shear zone which extends for 30 kilometres north to Moolart Well and 10 kilometres south of Garden Well.

"It is very exciting to see the latest phase of our organic growth strategy deliver a 547,000 ounce maiden gold resource at the Tooheys Well project. With Tooheys Well located so close to the Garden Well processing plant, Regis is already working on this project with a view to delivering a substantial, high grade mill feed satellite project for Garden Well. We also look forward to continuing our intensive exploration effort in the Tooheys Well area and beyond."

Background

The Tooheys Well gold project is located on a granted Mining Lease, 2.5km south of the Garden Well gold mine and 5mtpa processing plant. Gold mineralisation was previously defined in two north south trending Western and Eastern shear zones 100 metres apart hosted in Banded Iron Formation (BIF), chert and fine grained sediments. RC and diamond drilling in the March 2016 quarter defined high grade gold mineralisation along the Eastern shear zone and this was followed-up with further RC and diamond drilling in the June 2016 quarter.

Maiden Resource

An Inferred MRE has been estimated at a 0.4g/t gold lower cut for the Tooheys Well gold deposit as follows:

Errors of summation may occur due to rounding

This MRE will be subject to further infill and extensional drilling over the coming quarters with a view to updating it to be used as the basis for a maiden Ore Reserve estimate later in 2016.

The Other Material Information disclosures required by ASX Listing Rule 5.8 are included in page 8 of this announcement and the JORC Code, 2012 Edition Table 1 disclosures are included at Appendix 1.

Grade - Tonnage Distribution

Regis has quoted the maiden Inferred MRE for the Tooheys Well Gold Project at a 0.4g/t gold lower cut. However, it is particularly encouraging that the MRE reported above a 1.0g/t gold cut-off grade is 6.7 Mt @ 1.77 g/t. gold for 379,000 ounces. This represents 70% of the MRE with an average grade of 1.77g/t gold and is the result of the very regular wide intercepts of high grade mineralisation encountered at Tooheys Well.

The grade-tonnage curve of the Tooheys Well MRE is shown below:

The grade, tonnage and contained gold in the Inferred MRE at the above range of cut-off grades are shown in the table below:

Errors of summation may occur due to rounding

A programme of 50 RC holes (RRLTWRC095-141, 30, 83) for 9,550 metres and 3 diamond holes (RRLTWRCD048, 66, 92) for 277 metres were drilled in the June 2016 quarter (refer separate ASX announcement 22ndJuly 2016, Quarterly Activities Report) to follow-up gold mineralisation in the Eastern and Western shear zones. Significant new drilling results received during the quarter include:

• 34m @ 1.98g/t Au from 167m in hole RRLTWRCD021o57m @ 2.05g/t Au from 139m RRLTWRCD064o32m @ 2.02g/t Au from 181m RRLTWRCD080o21m @ 2.57g/t Au from 232m RRLTWRC090
• 75m @ 2.27g/t Au from 165m RRLTWRC094
• 46m @ 1.59g/t Au from 261m RRLTWRC095
• 23m @ 3.13g/t Au from 143m RRLTWRC104
• 19m @ 2.74g/t Au from 116m RRLTWRC110
• 53m @ 1.72g/t Au from 245m RRLTWRC111
• 23m @ 2.40g/t Au from 137m RRLTWRC113

Recent drilling continues to demonstrate gold mineralisation continuity both along strike and at depth in the Eastern shear zone which is now mineralised over a strike length in excess of 750 metres from 6909000mN to 6909500mN based on a nominal 40m x 20m drilling pattern.

The eastern shear zone mineralisation appears to have steep dip of 80-90° to the east. Host rocks are BIF/chert and shale and weathering extends to 70 metre vertical depth. Gold mineralisation is associated with pyrrhotite hosted in Banded Iron Formation ("BIF") which appears to be the dominant lithology at Tooheys Well. The pyrrhotite phase is restricted to BIF's, and has replaced magnetite during hydrothermal alteration.

The eastern shear zone is open to the north and south and is also open down dip. TWRC108 was drilled in the southern end of the Western Lode and returned 19m @ 2.47g/t. Au from 67m downhole (see plan below).