Regulus Reports Positive Nuton(TM) Technologies Extraction Rates on AntaKori Mineralization From Phase One Program

VANCOUVER, BC / ACCESSWIRE / July 6, 2023 / Regulus Resources Inc. ("Regulus" or the "Company", TSX-V:REG, OTCQX:RGLSF) is pleased to announce positive extraction rates on mineralization from the AntaKori property, using Nuton™ technologies as part of a phase one sulphide leach program with Nuton LLC, a Rio Tinto venture ("Nuton").

Highlights

• Copper extraction rates up to 95% for samples from high sulphidation mineralization
• Copper extraction rates up to 85% for samples from skarn-style mineralization
• Copper extraction rates up to 75% for samples from breccia/porphyry style mineralization range
• Nuton and Regulus have defined the phase two program which will entail column tests on larger-scale samples

The purpose of the phase 1 program was to explore whether primary sulphide copper ores from the AntaKori property were amenable to Nuton's proprietary sulphide leach technology, and to look at a variety of test conditions which will help guide future test work. The results of the phase 1 program indicate that mineralization from AntaKori is amenable to sulphide leaching, and that a phase two program is warranted. As well, the program helped identify which test conditions warrant further evaluation. In parallel to the Nuton sulphide leaching technology, the Company is also evaluating other processing methodologies.

John Black, Chief Executive Officer of Regulus, commented as follows:

"The results from the phase 1 program utilizing Nuton's sulphide leach technologies are very encouraging. They indicate that the ore from AntaKori appears to have very attractive copper extractions utilizing Nuton's technologies. This round of test work utilized relatively small samples and was completed in shaker flasks. The next phase of test work will utilize larger sample sizes and will be completed in columns and should help us refine our thinking regarding recoveries utilizing sulphide leaching as a processing pathway for AntaKori."

Adam Burley, Chief Executive Officer of Nuton, commented as follows:

"Nuton has a wide range of potential use cases. At AntaKori we are encouraged by the potential of Nuton to unlock copper resources in a district with substantial scale potential and in a way that is more environmentally efficient than conventional processes."

Sample Selection, Preparation and Methodology

A total of 12 coarse reject samples were taken from previously reported drill holes AK-18-021, AK-18-012, AK-18-010 (2 samples), AK-18-028, AK-19-034, AK-18-016, AK-18-013, AK-18-014, AK-19-034 (2 samples) and AK-19-026 (See figures 1 and 2 for locations). Samples were then composited into two high sulphidation, one skarn and one breccia/porphyry sample. Chemical and mineralogical analysis of each individual sample and each composite sample was completed by Nuton to obtain a full chemical and mineralogical understanding of the material introduced to each individual shaker flask. Chemical and mineralogical assay data were used to predict shaker flask test results. The mineralogy of individual samples can be found in figure 3 while composite samples can be found in figure 4. Composite samples were then placed into shaker flasks under a variety of test conditions to evaluate amenability to sulphide leaching. The copper extraction rates can be observed in figure 5, however, it should be noted that recoveries achieved on these small scale test do not necessarily provide an indication of results that may be expected at a larger scale.