REGIS RESOURCES LIMITED — Capital/Financing Update 2007

Sep 2, 2007

3 September 2007

Manager Announcements Company Announcements Office Australian Stock Exchange Limited 4th Floor, 20 Bridge Street Sydney NSW 2000

Level 11, 461 Bourke Street Melbourne Victoria 3000 Australia

Telephone: +61 3 8602 6500 Facsimile: +61 3 8602 6560

Dear Sir

Positive Fresh Rock Metallurgical results from Moolart Well

Key Points:

• A scout metallurgical program on Moolart Well sulphide gold ore has returned gold recoveries greater than 90%;
• Significant gravity recoverable gold exists in one of the two samples;
• These preliminary results are positive for the treatment of primary sulphide gold ores by standard CIL processing technology;
• The results also suggest all Moolart Well gold ores (laterite, oxide, sulphide) can be treated by a single gravity/CIL process.

Introduction

Regis Resources NL (ASX:RRL) has received positive results from a scout metallurgical program conducted on fresh rock sulphide mineralisation at the Moolart Well gold deposit. The metallurgical assessment was undertaken by Ammtec Pty Ltd as part of an on-going metallurgical test program of the Duketon Gold Project. The test work was conducted on two Reverse Circulation drillhole composite samples from different fresh rock mineralisation zones approximately 20m below the base of weathering, at about 90m vertical depth in the Stirling mineralisation area.

Hole No	Location	1Explorg/t Au	Head grade2g/t Au	Screen FA3g/t Au	Calc head4g/t Au	Calc head5g/t Au
MWSRC214	Stirling	2.33	0.28	3.60	0.25	4.74
MWSRC243	Stirling	2.30	2.25	2.30	1.81	2.37

		Table 1. Fresh Rock Metallurgical Sample assays– Moolart Well.

1 exploration drilling intersection grade 40g Fire Assay; 2 metallurgical head grade 40g Fire Assay; 3 metallurgical screen fire assay 1kg sample; 4 recombined met head grade – gravity + leach; 5 recombined met head grade – direct leach

Details of the two composite samples are given in Table 1 above. Both samples contain visible pyrite and arsenopyrite, and were ground to p80 passing 150µm. Each sample was evaluated by two methods: Falcon concentrator gravity recovery and intense concentrate (CN) leach, and by CN direct leach of the whole sample.

Each sample has been assayed five times: 1/ during the exploration drilling, 2/ during the metallurgical sample submission, 3/ by a detailed large volume screen fire assay during metallurgical size analysis, 4/ as a calculated metallurgical head grade from the gravity concentration plus residual analysis, and 5/ as a calculated metallurgical head grade from the direct leach analysis. For sample SRC243 all analyses agree reasonably well, but for sample SRC214 there is a significant assay variation which is interpreted at this stage as due to the presence of coarse gold in this sample.

Hole No	Gravitygold %5	Masspull %6	Gravity conrecov%7	Directleach%8	CN usekg/t	Lime usekg/t
MWSRC214	66.6	2.9	98.6	98.8	0.25	1.89
MWSRC243	9.9	3.7	90.7	96.9	0.23	3.81

Table 2. Metallurgical Results.

5 falcon concentrator gold gravity recovery, 6 gravity concentrate produced as a % of total sample; 7 recovery from 24hr high intensity leach of gravity concentrate; 8 recovery from 48hr direct sample leach

These results provide the first details of fresh rock, primary sulphide ore metallurgy at the Moolart Well gold deposit. These preliminary results suggest that the ores are free milling, contain a variable proportion of coarse (gravity recoverable) gold, and are likely to be treatable by standard goldfields CIP/CIL processes. Both cyanide and lime consumption rates for the direct leach run are well within expected typical sulphide ore ranges.

The results also suggest that all Moolart Well gold ores (laterite, oxide and sulphide) can be treated by a single process route consisting of a gravity circuit followed by a CIL circuit, both of which are in common use in the gold industry of Western Australia.

Further metallurgical characterisation of the sulphide gold ores is planned.

Yours sincerely

David Walker Managing Director

For further information contact:

Mr David Walker Dr Michael Folie Managing Director Chairman Regis Resources NL Regis Resources NL 03 8602 6500 03 8602 6500

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.