REGIS RESOURCES LIMITED — Capital/Financing Update 2005

Nov 16, 2005

Reais Resources N.L

ABN 28 009 174 761

Level 8, 580 St Kilda Road, Melbourne Victoria 3004, Australia

PO Box 6315, St Kilda Road Central Melbourne, Victoria 8008, Australia

Telephone: +61 3 8532 2830 Facsimile: +61 3 8532 2805 Email: regis@axisc.com.au

17 November 2005

Manager Announcements Company Announcements Office Australian Stock Exchange Limited 4th Floor, 20 Bridge Street Sydney NSW1 20000

Dear Sir

Strong metallurgical results from Moolart Well

Summary

Moolart Well Project - Metallurgical Testwork Results

• 95.7% gold recovery from a laterite composite sample:
• 95.5% gold recovery from a saprolite composite sample; $\bullet$
• Low cyanide consumption of 0.89 and 0.80 kg/t respectively; $\bullet$
• Golders Associates appointed to update the Moolart Well gold resource. $\bullet$

Background

On 8 June 2005, Regis announced the commencement of a Scoping Study over the Moolart Well gold project within the Duketon joint venture area, located north of Laverton in the goldfields region of Western Australia. The study was designed to examine the preliminary mining, engineering and financial aspects of a project development based on the Moolart Well resource, and the defined satellite resources. An exploration program commenced at the same time included an extensive reverse circulation (RC) and air core (AC) drilling program principally aimed at:

• Infilling and extending the existing 458,000oz gold resource at Moolart Well;
• Systematically exploring the shallow laterite and underlying oxide gold mineralisation indicated by previous drilling:
• Further exploring the basement below a vertical depth of approximately 70m. $\bullet$

Metallurgical Testwork

Two composite metallurgical samples were prepared from the Lancaster area of the Moolart Well gold project and submitted to Ammtec Ltd in Perth for CIL analysis. The composites were prepared from recently recovered aircore drilling chips from adjacent holes. Sample LZ1 was prepared from 34 individual 1 metre samples from 4 holes in the laterite zone, from downhole depths of 6 to 16 metres. Sample LZ2 was prepared from 33 individual 1 metre samples from 3 holes in the saprolite zone from downhole depths of 24 to 47 metres. Each sample was reduced to P80 = 75pm and tested by bottle roll agitated leach with sealed oxygen atmosphere. Summary results are listed below.

Sample	Head gradea/t	aoldrecovery	CN usedkg/t	Lime usedkg/t	leach timehrs
I LZ1 Laterite	2.61	95.75%	0.89	5.81	24
LZ2 Saprolite	.35	95.54%	0.80	2.29	24

Both samples returned high gold recoveries and low cyanide consumption, and lime consumption rates expected for these ore types. These results, although restricted in scope, give the JV partners comfort that the Moolart Well laterite and saprolite ore zones are likely to have very favourable metallurgical characteristics conducive to treatment though a conventional CIL plant. Further metallurgical testwork is planned following the collection of a bulk laterite sample in early 2006.

Moolart Well Resource Update

Regis have appointed Golder Associates of Perth to undertake the update of the Moolart Well gold resource. The previous resource at Moolart well was calculated in late 2003 based on drilling completed to September 2003. Since that time some 611 new aircore holes and 54 reverse circulation holes have been drilled at Moolart Well, with the vast majority of these within the previous resource envelope. Assay results from the last of the 2005 drilling are expected in the next few weeks, and resource calculations will commence shortly afterwards.

Moolart Well Inferred Resource at December 2003
-------------------------------------------------

Cut-Off Gradeg/t Au	Milliontonnes	Gradeg/t Au	Containedgold koz
0.3	15.9	0.9	460
0.5	14.1		458
0 R	92	ኅ ኃ	355
			260

Source: RSG 2003

Yours sincerely

David Walker Managing Director

For further information contact:

Mr David Walker Managing Director Regis Resources NL 03 8532 2830

Dr Michael Folie Chairman Regis Resources NL 03 8532 2830

The technical information contained in this report has been reviewed by Mr. David Walker who is a member of the Australasian Institute of Mining and Metallurgy and has more than 20 years experience in the exploration industry.