REGIS RESOURCES LIMITED — Capital/Financing Update 2008

Jul 21, 2008

Not For Distribution in the United States or over US Newswires

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22 July 2008

Regis Resources Limited ABN 28 009 174 761 www.regisresources.com

Melbourne Office

Level 11, 461 Bourke Street Melbourne VIC 3000 Australia

Manager Announcements Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge St Sydney NSW 2000

P +61 (0)3 8602 6500 F +61 (0)3 8602 6560

Perth Office

Ground Floor, 62 Colin Street West Perth WA 6005 Australia PO Box 810 West Perth WA 6872 Australia P +61 (0)8 9442 2200 F +61 (0)8 9442 2290

Dear Sir,

COMPLETION OF $19.6 MILLION PRIVATE PLACEMENT

Further to the announcement on the 8[th] July 2008, Regis Resources Limited (ASX: RRL) (“Regis” or the “Company”) is pleased to announce today the completion of its private placement to institutional and sophisticated investors.

Regis has issued 98,150,000 Units at a price of A$0.20 per Unit for gross proceeds to the Company of A$19.6 million. Each Unit consists of one fully paid ordinary share and one half a Warrant. Each whole Warrant is exercisable into one ordinary share by payment of A$0.28 at any time within 24 months of the date of issue. As a part of the transaction, Regis intends to apply for a secondary listing on a North American stock exchange within four months. The Offering was placed by a syndicate of agents co-led by CIBC World Markets Inc. and BMO Capital Markets and including Cormark Securities Inc.

Speaking today in Melbourne, Regis Chairman Dr Michael Folie said "Regis is pleased with the completion of this placement in the current market conditions. This capital raising is the first phase of the funding of the Duketon Gold Project, and the Company is moving rapidly to complete the engineering studies and commence development of the project".

Proceeds from the Offering will be used to fund the completion of the feasibility study for the Duketon Gold Project, acquisition of capital items for the development of the project, on-going exploration and for working capital.

Yours sincerely,

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David Walker Managing Director

For further information contact:

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

This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S Securities Act and applicable state securities laws or an exemption from such registration is available.