REG Regulus Resources Inc

Regulus Resources Inc. ("Regulus") (TSX VENTURE:REG) is pleased to announce that
it has allocated its previously announced subscription receipt financing (the
"Offering") for the base amount of $20 million. The terms of the Offering remain
as disclosed in Regulus' press release dated February 8, 2012.


Closing of the Offering is anticipated to occur on or about March 6, 2012 (the
"Closing Date") and is subject to certain customary conditions and regulatory
approvals, including approval of the TSX-V as well as the successful completion
of the previously announced merger with Pachamama Resources Ltd. ("Pachamama")
(TSX VENTURE:PMA). Proceeds from the Offering will be placed in escrow on
closing and will be released upon closing of the merger.


Certain members of the management team of Regulus have subscribed for
approximately 6% of the Offering and First Quantum Minerals Ltd. has subscribed
for that number of units to hold approximately 9.9% of Regulus following the
merger.


The Offering is being conducted by a syndicate of agents led by Dundee
Securities Ltd. and including Axemen Capital Finance Partners Ltd. and Stifel,
Nicolaus & Company Incorporated. In connection with this Offering, Regulus has
agreed to pay to the agents a cash commission equal to 5% of the gross proceeds
raised and broker warrants equal to 5% of the number of securities sold under
the Offering.


Forward Looking Information

Certain statements regarding Regulus and Pachamama, 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' and
Pachamama's 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 either Regulus or
Pachamama expect or anticipate will or may occur in the future, including the
proposed merger and financing as described herein, and management's assessment
of future plans and operations and statements with respect to the completion of
the anticipated drilling program, may constitute forward-looking statements
under applicable securities laws and necessarily involve known and unknown risks
and uncertainties, most of which are beyond Regulus' and Pachamama's 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 and
Pachamama believe that the expectations represented in such forward-looking
statements are reasonable, there can be no assurance that such expectations will
prove to be correct


Regulus and Pachamama do not undertake any obligation to publicly update or
revise any forward-looking statements other than required by applicable
securities law.

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