Regulus Resources Inc. ("Regulus" or the "Company") (TSX VENTURE:REG) is pleased
to announce a new, near-surface, gold discovery at the Northeast gold target
located two kilometres to the northeast of the Rio Grande ring structure at the
Rio Grande copper-gold-molybdenum project in Salta Province, Argentina. Drill
hole RGR-12-118 has tested the southern edge of a 900 by 600 metre gold-in-soil
anomaly first identified in 2011 (see figure 1) and encountered significant gold
mineralization of a style similar to the Lindero heap leach gold deposit of
Mansfield Minerals (MDR TSX.V), located ten kilometers to the southeast. Please
refer to Figure 2 for a comparison of the size of the Lindero deposit with
respect to the Northeast gold-in-soil anomaly. 


Results from RGR-12-118 are summarized below and in Table 1. The location of the
drill hole is noted in Figures 1 and 2. 




--  RGR-12-118 intersected: 
               297 m with 0.36 g/t Au and 0.06% Cu (0.46 g/t Au Eq)
    including 
               31 m with 0.74 g/t Au and 0.08% Cu and 66 m with 0.58 g/t Au
    and 0.08% Cu

--  Mineralization commences at the surface and is associated with stockwork
    quartz-magnetite veinlets that are hosted within intrusive breccias and
    adjacent red bed sedimentary rocks cut by several narrow diorite
    intrusions

--  This is effectively the first hole into a large (900 by 600 m) gold-in-
    soil anomaly and there is good potential to outline a deposit of
    significant size



John Black, President and CEO of Regulus commented as follows: "The discovery of
a new zone of gold mineralization two kilometres to the northeast of the known
copper-gold mineralization in the Rio Grande ring structure continues to
demonstrate the size and strength of the Rio Grande system and the potential for
the project to deliver additional exciting results. We are particularly
encouraged as this is only the second hole drilled in the Northeast target. The
first was drilled 500 metres to the west in 2007, prior to the recognition of
the full extent and strongest portion of the gold-in-soil geochemical anomaly. 


Given the size of the gold-in-soil anomaly (900 by 600 metres), and the position
of drill hole RGR12-118 along its southern margin, we are very encouraged by
these results and believe there is good potential to outline a deposit of
significant size. We will be following up with additional drilling once we have
conducted more detailed geological mapping and additional geophysical studies to
better define the drill target."


RGR-12-118 

Drill hole RGR-12 -118 was collared on the southern edge of a 900 by 600 metre
gold-in-soil anomaly first announced in March 2011 (see Regulus news release
March 3, 2011) and subsequently expanded in 2012. The 297 metres of
mineralization encountered in RGR-12-118 starts at the surface and is
consistently mineralized throughout the hole with values up to 1.54 g/t Au and
no high values that would unduly influence the average grade. The mineralization
in RGR-12-118 is hosted in intrusive breccias and moderately hornfelsed red-bed
sedimentary rocks intruded by a number of narrow mineralized diorite intrusions.





----------------------------------------------------------------------------
----------------------------------------------------------------------------
RGR-12-118                    From     To   Metres    Au    Cu    Ag      Mo
----------------------------------------------------------------------------
----------------------------------------------------------------------------
TD = 759.00 m                 6.00 303.00   297.00  0.36 0.06%  0.45  0.001%
----------------------------------------------------------------------------
                 including    6.00  30.00    24.00  0.58 0.07%  0.31  0.001%
----------------------------------------------------------------------------
                 and         74.00 105.00    31.00  0.74 0.08%  0.40  0.001%
----------------------------------------------------------------------------
                 and        141.00 195.00    54.00  0.29 0.08%  0.29  0.001%
----------------------------------------------------------------------------
                 and        237.00 303.00    66.00  0.58 0.08%  1.02  0.002%
----------------------------------------------------------------------------
                 including  240.00 284.00    44.00  0.69 0.10%  1.27  0.003%
----------------------------------------------------------------------------
----------------------------------------------------------------------------



Table 1: Rio Grande Drill Results

Northeast Target Exploration Plans 

The Company intends to conduct a geophysical, geochemical and mapping program
prior to commencing with follow-up drilling in the Northeast target. The initial
program is expected to be initiated by the end of 2012 and will include:




--  Extending the existing ground magnetic survey which does not cover the
    area of the new soil anomaly. 
--  Geological mapping to aid in drill target selection and prospecting to
    identify new potential areas. 
--  Expansion of the existing soil survey to the east. 
--  Drilling high priority targets in 2013.



Figure 1: Northeast Target Location Map:
http://media3.marketwire.com/docs/RegFig1.jpg 


About Regulus Resources Inc.

Regulus Resources Inc. (TSX VENTURE:REG) is a mineral exploration company formed
in December, 2010 in connection with the sale of Antares Minerals Inc. to First
Quantum Minerals Ltd. (FM. TSX). Regulus has been exploring the Rio Grande
Cu-Au-Mo porphyry project in Salta Province of NW Argentina as a 50/50 joint
venture partner with Pachamama Resources and the two companies recently merged
under the name of Regulus Resources to consolidate a 100% interest in the
project and pursue an aggressive exploration program (see Regulus press releases
of May 11 and May 16, 2012).


Figure 2: Northeast Target Soil Au Geochemistry Map:
http://media3.marketwire.com/docs/RegFig2.jpg


All of Regulus' exploration programs and pertinent disclosure of a technical or
scientific nature are prepared by, or under the direct supervision of, Wayne
Hewgill, P.Geo, and Regulus' COO, who serves as the qualified person (QP) under
the definitions of National Instrument 43-101.


The Rio Grande samples were analysed with the following methods: Au - 30 g FA
with AA Finish, Cu - four acid digestion for trace Cu and four acid digestion
and AAS for ore grade Cu, 35 element Aqua Regia ICP-AES. 


Regulus' security, chain of custody and quality control is described on their
website and can be reviewed at:
http://www.regulusresources.com/BestPractices/SamplingMethodologies.aspx 


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. 


Specifically, and without limitation, all statements included in this press
release that address activities, events or developments that either Regulus
expects or anticipates will or may occur in the future, including management's
assessment of future plans and operations and statements with respect to the
completion of the anticipated drilling program and the completion of a NI 43-101
compliant resource estimate, 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. Such risks and
uncertainties include, but are not limited to: the impact of general economic
conditions in Canada and Argentina, industry conditions including changes in
laws and regulations including adoption of new environmental laws and
regulations, and changes in how they are interpreted and enforced, in Canada and
Argentina, fluctuations in commodity prices and ability to complete operations
due to factors beyond Regulus' control.


Although the forward-looking statements contained in this Press Release are
based upon assumptions which management believes to be reasonable, Regulus
cannot assure shareholders that actual results will be consistent with these
forward-looking statements. With respect to forward-looking statements contained
in this press release, Regulus has made assumptions regarding: current commodity
prices and royalty regimes; timing of receipt of regulatory approvals;
availability of skilled labour; timing and amount of capital expenditures;
future exchange rates; the impact of increasing competition; conditions in
general economic and financial markets; effects of regulation by governmental
agencies; royalty rates; future operating costs; and other matters. 


Accordingly, Regulus does not give any assurance nor make any representations or
warranty that the expectations conveyed by the forward-looking statements will
prove to be correct and actual results may differ materially from those
anticipated in the forward-looking statements. Regulus does not undertake any
obligation to publicly update or revise any forward-looking statements other
than required by applicable securities law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Regulus Resources Inc.
John Black
President and CEO
720 514-9036 or Mobile: 303 618-7797


Regulus Resources Inc.
Wayne Hewgill, P.Geo
COO
778 438-2481 or Mobile: 604 961-0033
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