REGIS RESOURCES LIMITED — Interim / Quarterly Report 2006

Oct 29, 2006

REPORT FOR THE QUARTER ENDED 30 SEPTEMBER 2006

HIGHLIGHTS

DUKETON GOLD PROJECT

MOOLART WELL DEPOSIT

• 90 aircore holes for 7,086m and 27 diamond holes for 2,782m drilled at the Moolart Well deposit;
• Significant new laterite zone intersections reported, including:
• 6m $@$ 2.85 g/t gold from 9m in hole MWAC 1540;
  • 4m @ 3.10 g/t gold from 7m in hole MWAC 1557
• Significant new saprolite intersections reported including:
• 2m @ 11.67 g/t gold from 45m in hole MWAC 1403;
• 5m @ 7.26 g/t gold from 97m in hole MWAC 1489;
• 7m @ 5.56 g/t gold from 69m in hole MWAC 1536; $\blacksquare$
• New saprolite interpretation highlights new contiguous zones and increases continuity in several major mineralized trends.
• Diamond drilling in fresh rock beneath the saprolite zone identifies primary mineralisation zones - full assays awaited.

PROJECT DEVELOPMENT

• Mr Ian Kerr appointed General Manger Projects.
• Moolart Well resource update in progress, completion expected shortly.
• Laterite bulk sample excavated.
• Moolart Well ores process flow sheet in preparation.
• Low grade heap leach potential under investigation.

REGIONAL GOLD EXPLORATION

• Geochemical drilling over the 16km Moolart Corridor completed.

NICKEL EXPLORATION

• Strong TEM conductor anomalies over 10km strike at Tasman, Collurabbie.
• Anomalous Ni-Cu-PGE associated with some conductors at Tasman.
• Two single line TEM conductor anomalies detected at Gilga Well.

CORPORATE

• Regis moves to 100% of the Duketon joint ventures, subject to completion in early December 2006.
• As a consequence, Regis will move to 100% of the Moolart Well gold deposit and the prospective Collurabbie nickel exploration project (subject to minority interests).
• Regis raises \$4.78m of new capital from investors.

INTRODUCTION

Regis Resources NL ("Regis") is an Australian minerals explorer with extensive landholdings in the Eastern Goldfields of Western Australia. The most significant of these are the Duketon joint ventures north of Laverton which cover ground prospective for gold and nickel mineralisation in the northern part of the Laverton Tectonic Zone. Regis has recently entered into agreements with joint venture partner Newmont Australia to purchase the remainder of the Duketon Joint Ventures, which on completion in December 2006, will increase Regis' holding in the Duketon projects to 100%. This includes the Duketon Gold Project based on the Moolart Well deposit. and the prospective Collurabbie nickel exploration project.

In the Lenora-Laverton area Regis is also earning up to an 85% interest and manages exploration on the Copper Well Joint Venture, and is earning up to 70% equity and manages exploration in the Melita Joint Venture. Regis also owns 100% of a number of mineral tenements in the Duketon and Leonora-Laverton area.

REVIEW OF OPERATIONS

During the quarter ended 30 September 2006, the majority of the Company's activities continued to be focussed on the feasibility study and further detailed technical evaluation of the Duketon Gold Project, in particular the Moolart Well gold deposit, and nickel exploration activities in the Collurabbie block.

Duketon Gold Project Feasibility Study

Moolart Well Deposit

Geology and Resource Definition

During the quarter 90 aircore holes for 7,086 metres were completed at Moolart Well (see Table 1). The aircore program completed the Phase III infill and close-off drilling of the Moolart Well gold deposit to a 50 x 50m grid down to 70m vertical depth, covering both the laterite and saprolite mineralisation zones. This drill spacing is sufficient to enable the calculation of an indicated resource category for the flat-lying laterite mineralisation, but further infill drilling of the saprolite zone will be required to achieve this level of resource confidence.

Twenty seven diamond holes for 2,782 metres were also completed within the Moolart Well deposit during the quarter. These holes are designed to provide grade confirmation, metallurgical and geotechnical information on both the laterite and saprolite resources, and include HQ and triple-tube (PQ3) coring from surface. A number of the holes have been continued into fresh rock in areas where primary mineralisation structures are interpreted to exist.

PROPERTY	TYPE	HOLE NOS	NO HOLES	METRES
Moolart Well	aircore	MWAC1480-1569	90	7.086
	diamond	MWDD004-030		2.782

Table 1 Moolart Well Drilling Summary

Laterite Zone mineralisation

Significant new laterite zone intersections received during the quarter are summarised in Table 2. Assays for the 90 aircore holes drilled at Moolart Well during the quarter have been received and incorporated into the database. A new interpretation of the laterite zone mineralisation has been completed and is presented in Fig 2. The addition of the new results has further extended mineralisation in the Halifax east. Blenheim and in the Lancaster North areas. Also, high grade zones at Lancaster North and Stirling have been extended further. Further follow-up drilling remains to be undertaken in the Halifax east and Mosquito south areas to fully delineate the new mineralised zones.

Hole No	Northing	Easting	From	$\overline{\mathsf{q}}$ To $\overline{\mathsf{q}}$	$\Box$ Int	Gold
	mN	mE	m	m	m	g/t
MWAC1436	6944742	435713	9	11	2	15.46
MWAC1446	6944766	435697	$\overline{2}$		5	2.57
MWAC1450	6944754	435701	2	6	4	2.78
MWAC1451	6944758	435701	2	6	4	2.80
MWAC1454	6944770	435701	2	6	4	2.52
MWAC1456	6944750	435705	2		5	2.60
MWAC1457	6944754	435705	2	10	8	1.94
MWAC1465	6944754	435709	3	7	4	2.38
MWAC1540	6945250	435475	9	15	6	2.85
MWAC1541	6945150	435425	9	12	3	3.28
MWAC1557	6944350	435787	7	11	4	3.10
MWAC1558	6944350	435837	9	12	3	3.14

Table 2. Summary of new Laterite Zone intersections, Moolart Well

All Intercepts calculated using a 0.5q/t lower cut, no upper cut, maximum 2m internal dilution Holes drilled at 270 grid azimuth, -60° dip. All assays determined by 1m fire assay

Saprolite Zone Mineralisation

Significant new saprolite zone intersections are summarised in Table 3 below. A new interpretation of the distribution and orientation of the saprolite zone mineralisation has been completed, and is presented in Fig 3. The new drilling intersections received during the quarter have significantly extended and more accurately defined the distribution of the mineralisation in several areas. Significant increases in the continuity of mineralisation has occurred in the Stirling, Stirling north, Mosquito and Blenheim areas, particularly on the western side of the deposit. Further drilling is still required on the western side of the deposit to fully define the new mineralisation.

With the completion of this round of aircore drilling, a significant increase in continuity of the saprolite mineralisation has emerged. As many as five mineralisation zones, each continuous over 1km in length and trending 320 degrees, are apparent in the deposit at Stirling, Mosquito, Halifax and Blenheim (2 zones). These are interpreted as sub-vertical, primary mineralisation zones extending from the basement and partially preserved in the saprolite zone.

Further zones of mineralisation trend north-south in the Stirling-Lancaster area and are also continuous over 1km in length. This zone appears to represent the development of mineralisation within particular stratigraphic units in the Moolart Well mine sequence.

A program of detailed infill RC drilling is to commence shortly on the main saprolite mineralisation zones, and is designed to increase the density of intersections within these zones to allow the calculation of a resource to indicated status.

Hole No	Northing	Easting	From	$\overline{\mathbf{r}}$ $\mathbf{r}$	$\blacksquare$ Int	Gold
	mN	mE	m	m	m	g/t
MWAC1403	6944150	435900	45	47	2	11.67
MWAC1405	6944125	435900	51	62	11	1.56
MWAC1489	6947250	435650	97	102	5	7.26
MWAC1532	6945550	435700	113	116	3	5.35
MWAC1535	6945500	435250	51	53	2	11.50
MWAC1536	6945500	435300	47	53	6	3.33
			79	86EOH		5.56
MWAC1539	6945350	435250	42	43		56.1
MWAC1555	6944350	435450	54	58	4	5.90

Table 3 Summary of new Saprolite Zone Intersections, Moolart Well

All Intercepts calculated using a 0.5q/t lower cut, no upper cut, maximum 2m internal dilution Holes drilled at 270 grid azimuth, -60° dip. All assays determined by 1m fire assay

Basement Intersections

Twenty seven diamond holes for 2.782 metres were completed within the Moolart Well resource during the quarter, mainly within the Blenheim and Lancaster areas. The location of these holes are highlighted on Fig 3. The diamond holes are primarily designed to provide grade confirmation, metallurgical and geotechnical information on both the laterite and saprolite resources. A number of the holes have been continued into fresh rock in areas where primary mineralisation structures exist. Assays for most holes are awaited, and available results are listed below.

Primary mineralisation zones in fresh rock beneath the base of weathering has been intersected in holes DD002*, DD003*, DD007, DD013, DD014 and DD015. These zones consist of an alteration assemblage of chlorite, biotite, carbonate and albite, often with a quartz vein component, and with visible gold with pyrite, arsenopyrite and minor base metal sulphides. The location of these basement mineralisation zones correlates with a number of the 320 degree bearing structures in the new saprolite interpretation (Fig 3), and also with a number of interpreted conjugate structures. Regis believes these intersections are the first clear evidence of primary mineralisation trends in the fresh rock beneath the saprolite zone. Complete assay results are awaited.

Hole No	Northing	Easting	From	TC The Corp.	$^{\circ}$ int $_{\circ}$	Gold
	mN	mE	m	m	m	g/t
MWDD002*	6946202	435770	234.0	249.0	15.0	2.29
MWDD003*	6944604	435848	119.0	121.0	2.0	3.94
			180.0	204.0	24.0	1.49
MWDD007	6947500	435263	61.5	64.1	2.6	2.67
MWDD008	6947500	435438	101.0	105.0	4.0	3.75

Table 4 Summary of diamond drilling intersections, Moolart Well

All Intercepts calculated using a 0.5g/t lower cut, no upper cut, maximum 2m internal dilution Holes drilled at -60° dip. All assays determined by fire assay * drilled by Newmont

Resource Status

Regis has commenced calculation of a new resource for the Moolart Well mineralisation, based on the inclusion of the extra 428 aircore holes completed since the previous resource calculation in December 2005. The resource calculation is being undertaken by Golder Australia in conjunction with Regis staff. Database verification and preliminary saprolite ore zone interpretation has been completed and further modelling of low-grade resources is underway. The additional holes to be included in the resource update should be sufficient to allow the calculation indicated resource status for the laterite and most of the saprolite ore.

As a consequence of Regis' expected increase in equity in Newmont Duketon Pty Ltd and in the Duketon Gold Project to 100%, on transaction completion in early December 2006, Regis' equity in existing resources will rise to 2.24 million ounces of aold from 1.33 moz reported previously (Table 4).

		m	grade	gold	cut-off
	type	tonnes	g/t	koz	g/t	category	source
IMoolart Well	laterite	9.0	1.48	428	0.5	ind+inf	Golder
	saprolite	8.7	2.07	580	0.8	inferred	Golder
lMoolart Well sub-total ∣		17.7	1.77	1,008
Satellite Deposits
Rosemont	ox+sulph	14.7	1.72	815	0.5	ind+inf	GMS
Dogbolter	ox+sulph	0.9	2.91	87	1.0	inferred	RSG
King John	ox+sulph	0.7	3.19	72	1.0	inferred	RSG
Baneygo	ox+sulph	0.8	1.67	43	0.5	inferred	RSG
Erlistoun	ox+sulph	1.4	4.34	193	1.0	inferred	RSG
Russells Find	ox+sulph	0.5	3.86	56	1.0	inferred	RSG
lReichelts Find	ox+sulph	0.1	3.69	17	1.0	lindicatedl	RSG
Satellites Sub-Total		19.1	2.09	1,283
TOTAL RESOURCES		36.8	1.94	2,291
RRL equity*				2.241

Table 4 Resource Statement

Source: Golder = Golder Associates 2006; RSG=RSG Global 2002; GMS = Global Mining Services 2001
based on drilling to December 2005 *NB subject to option transaction completion based on drilling to December 2005

Pit Optimisation Studies

A preliminary mining schedule of the Moolart Well in-pit resources has been prepared by Mining Solutions Consultancy Pty Ltd. The schedule was based on the December 2005, 1 million ounce resource model and the March 2006 pit optimisation studies, which captured 592,000oz within the pit shells. Mining Solutions scheduled the 2.5 million tonnes per annum throughput option. The plan produced an average production of 136,000oz per annum, with a strip ratio of 3.7:1, ignoring low grade ore. At a gold price of A\$730/oz, the schedule produced a cash surplus of A\$188m over the mine life, and based on an estimated capital cost of A\$50m for the 2.5mtpa plant, a payback period of less than 12 months including working capital requirements.

Further pit scheduling will be undertaken once the new resource update and a new optimised pit design, including the 428 new drillholes, has been completed.

Metailurgy

Laterite Ore Bulk Sample

The laterite ore test pit to 6m depth and excavation of a 300 tonne bulk sample has been completed. Further sampling of pit walls and various dumps has shown a significant variation in gold grades, most likely due to the effect of small gold nuggets. The bulk sample is ready for crushing and grinding tests once the process flow sheet design is finalised.

Ore Processing Flow Sheet Development

Consultants METS are completing preliminary flow sheet designs for the Moolart Well laterite and saprolite ore types. Forty diamond core samples have been collected and submitted to Ammtec Ltd for specific gravity determination. Samples of both laterite and saprolite ores were collected with original moisture levels preserved.

Heap Leach Investigation

Examination of laterite and saprolite drilling results suggest the presence of significant tonnages of lower-grade mineralisation below the 0.5g/t cut-off grade, currently classified as waste. Investigations are continuing into the quantity of this material, and metallurgical tests have been designed to examine the heap leach characteristics of these ore types. Further, beneficiation test have commenced to see if laterite pisolites with gold grains on the exterior can be upgraded by simple attrition. Results are awaited.

Environmental

A baseline environmental flora and fauna and soil study has been completed by managing consultants Enesar and Outback Ecology over the Moolart Well footprint and a number of satellite deposits.

Gold Exploration Activities

During the quarter, gold exploration activities outside of the Duketon Gold Project Feasibility areas have centred on the north and southern extensions of the Moolart Well deposit within the Laverton Tectonic Zone.

Moolart Corridor

The Moolart Corridor is a zone of anomalous gold and arsenic mineralisation extending continuously over at least 16km to the northwest of the Moolart Well and for an unknown distance to the south. During the quarter, 192 aircore holes for 7,353 metres were drilled in the northern corridor to extend and infill the known anomalous gold mineralisation. Results have been received and are being integrated into the database.

. . --	TYPE	NOS HOLE	LES NK HOL.	RES ME
orridor man MC	aircore	192 MNA'	92	.353

Duketon Regional

No work was undertaken during the quarter.

Nickel Exploration Activities

During the quarter, the extensive nickel exploration program over the Duketon Activities consisted of 271 line km of TEM (transient tenements continued. electromagnetic) surveying at Collurabbie and Gilga Well, and the drilling of 275 aircore holes for 14,545m in the Collurabbie block.

Collurabbie Region

The Collurabbie region comprises three ultramafic zones (Western Ultramafic Zone, Central Ultramafic Zone and Eastern Ultramafic Zone) and a number of extensive mafic sills (Fig 4). The ultramafic-hosted Olympia Ni-Cu-PGE (platinum group element) massive sulphide mineralisation, discovered by BHP Billiton Ltd 5km to the north and adjoining the Regis tenements is interpreted to lie within the northern extension of Regis' Western Ultramafic Zone. During the quarter, exploration activities consisted of TEM surveying over all three ultramafic belts and aircore drilling of interpreted contact zones, existing massive sulphide targets and anomalous nickelcopper soil geochemistry. TEM data are being interpreted and aircore drilling assays are awaited.

Location Km		$\overline{\phantom{a}}$ $\frac{1}{\sqrt{2}}$	Solution Total survey kms
	completed	complete
Western Ultramafic Zone		100
Western Ultramafic Zone
l- Tasman area	122	80	153
Central Ultramafic Zone	22	100	28
Eastern Ultramafic Zone	44	100	67
Sligo area		100
Total	204		294

Table 7 Nickel Exploration - TEM Survey Summary
-------------------------------------------------	--

PROSPECT	HOLE NO'S	NO OF HOLES	METRES
CUZ-Caltra	CRAC884-913	30	563
WUZ	CRAC959-1072	114	9.659
WUZ-Tasman	CRAC914-958	45	1.247
	CRAC-1073-1158	86	3.076
Total		275	14,545

Table 8 Nickel Exploration - Aircore Drilling Summary

Tasman Prospect - Conductors Discovered

The TEM conductor anomalies discovered at the Tasman prospect are illustrated in Fig 4. Two distinct groups of anomalies occur over the 10km strike length: a group of high response anomalies developed intermittently within the eastern mafic-sediment stratigraphy, and a second group of lower-order anomalies developed on both the upper and lower contacts of the ultramafic units.

Modelling of the conductor anomalies indicates that the bodies generally lie parallel with the interpreted strike and dip of the stratigraphy, although some bodies cross-cut the general trend. Although pyritic black shales are present in the sequence, the association of a number of the anomalies with isolated and short strike-length magnetic responses suggest the conductors are not simply formational. Interpreted depth to the conductor varies from 15m (the base of weathering) to over 300m depth. In some locations multiple, parallel conductor plates are interpreted.

Most of the historical geochemical drilling in the area was focussed on exploration for shallow lateritic gold mineralisation within the top 20m and has only rarely tested basement lithologies. Over the 10km strike of the Tasman anomalies, only four regional historical drill traverses exist. Over the interpreted position of the conductors these holes are 100m spaced apart and a maximum of only 18m deep, and have not tested the conductor position. Notwithstanding this limitation, significant nickel results have been reported in the projected up dip position of the conductor anomalies. More recent drilling in the area by Regis has also returned anomalous nickel, copper and PGE levels from a basic volcanic - sediment sequence along strike of one of the conductors

A program of shallow aircore drilling across the conductor anomalies over the prospective 10km strike length is underway and will lead to the detailed identification of the host stratigraphy in the area, as well as a geochemical profile of the anomalous bodies in the weathered zone. Deeper diamond drilling is planned in the current quarter on selected targets below the base of weathering determined from these results.

Duketon Central Region

At Gilga Well in the Duketon Central - Rosemont area, the TEM survey commenced in the last quarter was completed. All data has been received and is being interpreted. Two single line conductor anomalies have been located, and further follow up drilling is planned.

Location	Km.	۰⁄۰	otal survey
	completed	complete	kms
Gilga Well		IOC	96

Laverton - Leonora Exploration Projects

Copper Well Joint Venture (Regis earning 85% and manager)

Results were received from the 13 aircore holes for 1,317m drilled on E38/383 at Salt Well in the last quarter. Further work is planned to fully test the prospective targets.

Melita Joint Venture (Regis earning 70% and manager)

No field work was undertaken during the quarter.

Corporate

Exercise of Call and Put Options

On 29 September 2006. Regis exercised a call option over 26% of the ordinary shares of Newmont Duketon Pty Ltd ("NDPL"), which on settlement will give Regis 75% and control of NDPL. This will also increase Regis' economic interest in the Duketon joint ventures to 80%. Consideration for the acquisition of this interest was set by a formula agreed in 2005, and totals \$24.9m. On 18 October 2006. Newmont exercised a put option over the remaining 25% of the ordinary shares of NDPL, which on settlement will give Regis 100% of the equity of NDPL and increase Regis' economic interest in the Duketon joint ventures to 100%. Consideration for the acquisition of this interest was set by a formula agreed in 2005, and totals \$22.1m.

Both amounts can be settled by a cash payment, an issue of shares, a further sole funding period or a combination of these methods. Settlement is expected following shareholder approval in early December.

Capital Raising

On 27 September 2006 the Company announced a placement of 47.8m ordinary shares at an issue price of A\$0.10 per share to raise A\$4.78 million. BBY Limited was Lead Manager to the placement which was made to offshore and local institutional and sophisticated investors.

Purchase of German Well JV Equity

During the quarter, the German Well Joint Venture partners finalised the purchase of Allied Technologies Group Ltd's 18.35% equity in the joint venture for \$9,570 including GST. Following the purchase and subsequent to the option exercise above, the equities in the joint venture are Regis 89.8% and Mr Bruce LeGendre 10.2% as at 30 September 2006.

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

Attached is a copy of the Company's Mining Exploration Entity Quarterly report in accordance with Listing Rule 5.3.

DA WALKER Managing Director 30 October 2006

						E 38/348
		œ ۰ ando o	േരേരെ ഈ		o
		$\circ$ and $\circ$ რიბიდა ი
5047500mN
		Blenheim
	o.	ò $\bullet$ $\bullet$
B947200mN			ବିଶିତ ବିବେ⊘ି ଶିଚ୍ଚ ଭିବ 1200 O.O.O.O
			ാം റോഫി തിരിക്കു കൊയുക്
			$\sim$ င်းစေတော့တော့ စစ်မြို့တဲ့ အကြံ့ရေး စစ်မြို့တဲ့ အကြံ့ရေး
		ه ه	ه مره په کې و დაბებრძი ი
B946800mN			تح هو په م ⊚≖∂⊿∝ ఎ.
		Halifax	ნიიიიფ∕αიი მъ 6.0000 $\circ$ 6
			ል ፈ ኛው የ			MLA 38/498
B948400mN			. .
		စ ၈) Mosquito	ი აითი ბურულ ბი იი იიბ 600
		o ⊙ %	ക്ക് ശോരകേ И. $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\bullet$ $\bullet$ $\bullet$ $\bullet$ $\bullet$ $\bullet$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$ $\circ$
BG46000mN			க்மக் ∖ ମ ଓ ସ୍ କ୍ଷା ଅନ୍ତ⊹ - ତ	. . ه.
			ïф. മിരാ (മിര $\bullet$ о.
			ი ი იდმია	$\bullet\,\circ\,\circ\,\circ$
			მღნებ ი 0 O	- Wellington
Be46300mN			ισσολοδ ാടേ കോം 6 ြင္းလံုးကို ေဖာ္	∖உ…… உ-ூ் ……… க
			$\begin{array}{ccc} \circ & \circ & \circ & \circ \ \circ & \circ & \circ & \circ \end{array}$ ၈ ၈ မ်ာ ဇ $\bullet$
		၀၀၀ ၀ ၀ ၀	Đ.	00 O.O $\begin{array}{cccccccccccccc} \circ & \circ & \circ & \circ & \circ & \circ & \circ & \circ & \circ \end{array}$
3945200mN				— Lancaster North
		ം എടെ ആ ം റ ം ചക്കാരങ്ങ	jų, ملائقا	$-2$
			െ മെ പ ٨.	O ø 90000000
	$\circ$ $\circ$	ಂಂಂ ಂತದ Ġ 000 ÷.	Ka 7a ТX. to Geo Contract o ۰ - CH $\alpha$	Ó Ó. G.
B944800mN		Stirling … ஞக்க… உத	oo oo			MLA 38/499
o ۰	ø $\overline{\phantom{a}}$ $\overline{\phantom{a}}$	60° 90 ۰	0 0 X. ഈ ര Vю. Ö. ۳o œ 僂 o	000		MLA 38/500
	000000000	$\bullet$	ာိၿခိဳ ဇာဇဝ e cocoggo ۰ o	۰ o
B944400mN	POOL	മേരാ യോയോ രാ ഷ്യങ്	о o looo ۰ ADDA:	剛。 മാരേ ÷. Lancaster Ó ٠ gn o A.
	අංග ෙග ල $\bullet$	ò. $\bullet$ $\bullet$	00000 o 8 8 နီ 000000000000000000000000000000000000000	း အစ္စစစစ်အစစစစစစ $0.00 \pm 0.0$ 0 0 isse
	GOOD		ංගයෙන් eag း အစိုးစိုးစိုးစို	DOMESIO COOO COOO COOO ã დადი და დ o 00-0 "0000000000000
	000 ø $\bullet$ $^{\circ}$		0000 စစစစစေစေဖေဖေဖေလေးမြီးကြောင်း စစစစစေ $\circ$ $\circ$ 00000	°000 $\bullet$
5044000mMP ۱o			ها و ده ده ها ماه داد ده داد ها ماه ده ده د
4000ml	$\circ$ $\circ$ $\circ$ 。	$\bullet$ $\bullet$ $\bullet$ $\mathbf{G}$ o ۰	$\begin{array}{ccccccccccccccccc} \circ & \circ & \circ & \circ & \circ \end{array}$ $\begin{array}{ccccccccccccccccc} \circ & \circ & \circ & \circ & \circ & \circ \end{array}$ ۰ $\bullet$ e $\mathbf{c}$ ۰ ۰ ۰	۰ $\mathbf{c}$ $\begin{array}{ccccccccccccccccc} \bullet & \bullet & \bullet & \bullet & \bullet & \bullet \end{array}$ Ó $\bullet$	o	Harriota e
LEGEND	>16 gm Laterite Thickness x Grade			INGLES Researcher	Regis Resources NL A.C.N. 009 174 761
	8 - 16 gm Laterite Thickness x Grade 4 - 8 gm Laterite Thickness x Grade		N	L Bowyer Comp. :		DUKETON GOLD PROJECT
Read	1 - 4 gm Laterite Thickness x Grade			25/10/06 Date: Melbourne : عما
RC Drillhole ō Aircore Drillhole Ō	Diamond Drillhole		0 100 200 300 400 500	Scale: 1:18000		Moolart Well Prospect
RAB Drillhole ۰			Metres	APR: drilling laterite_0610 Pkit:		Laterite Zone Gold Contours Less Than 20m Vertical Depth
	Drilling as at the 13th of October 2006			Figure :		Intersection Thickness x Grade (gm)

Appendix 5B

$Rule 5.3$

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

REGIS RESOURCES N.L.

ABN

28 009 174 761

Quarter ended ("current quarter") 30 Sept 2006

Consolidated statement of cash flows

			Current quarter	YTD
	Cash flows related to operating activities		\$A'000	(3 Months)
				\$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for	(a) exploration and evaluation
		(b) development
		(c) production
		(d) administration	(314)	(314)
1.3	Dividends received
1.4	Inferest and other items of a similar nature received		46	46
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)		(54)	(54)
	Net Operating Cash Flows		(322)	(322)
	Cash flows related to investing activities
1.8	Payment for purchases of:	(a) prospects
		(b) equity investments
		(c) other fixed assets	(94)	(94)
1.9	Proceeds from sale of:	(a) prospects
		(b) equity investments
		(c) other fixed assets
1.10	Loans to other entities
1.11	Loans repaid by other entities
1.12	Other (provide details if material) See attached		(2,205)	(2,205)
	Net investing cash flows		(2, 299)	(2, 299)
1.13	forward)	Total Operating and investing cash flows (carried	(2,621)	(2,621)

⁺ See chapter 19 for defined terms.

Appendix 5B Mining exploration entity quarterly report

1.13	Total operating and investing cash flows (brought forward)	(2,621)	(2,621)
1.14 1.15 1.16 1.17 1.18 1.19.	Cash flows related to financing activities Proceeds from issues of shares, options, etc. (NET) Proceeds from sale of forfeited shares Proceeds from borrowings Repayment of borrowings Dividends paid Other (provide details if material)
	Net financing cash flows
	Net increase (decrease) in cash held	(2,621)	(2,621)
1.20 1.21	Cash at beginning of quarter/year to date Exchange rate adjustments to item 1.20	4.451	4.451
1.22	Cash at end of quarter	1.830	1,830

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

.
	Current quarter \$A'000
Aggregate amount of payments to the parties included in item 1.2	165
Aggregate amount of loans to the parties included in item 1.10	$\blacksquare$

1.24 Aggregate amount of loa

1.23

1.25 Explanation necessary for an understanding of the transactions

Non-cash financing and investing activities

$2.1$ Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

$2.2$ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

⁺ See chapter 19 for defined terms.

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available \$A'000	Amount used \$A'000
3.1	Loan facilities
3.2	Credit standby arrangements	$\overline{\phantom{a}}$

Estimated cash outflows for next quarter

	(See Note 7.4 regarding capital raising) Total	3,400
42	Development	$\sim$
4.1	Exploration and evaluation	3,400
		SA 000

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current quarter \$A'000	Previous quarter \$A'000
5.1	Cash on hand and at bank	1,813	1,813
5.2	Deposits at call	17	17
5.3	Bank overdraft		$\blacksquare$
5.4	Other (provide details)	$\mathbf{r}$	$\blacksquare$
	Total: cash at end of quarter (item 1.22)	1.830	1,830

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished. reduced or lapsed		Nil
6.2	Interests in mining tenements acquired or increased		See attached

⁺ See chapter 19 for defined terms.

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	Issue price per security (see note	Amount paid up per
				$3)$ (cents)	security (see note 3) (cents)
7.1	Preference +securities (description)
7.2	Changes during quarter
	(a) Increases through issues
	(b) Decreases through returns of capital, buy-backs, redemptions
7.3	+Ordinary securities	693,743,393	693,743,393
7.4	Changes during quarter
	(a) Increases through issues
	(b) Decreases through returns of capital, buy-backs
7.5	+Convertible debt securities (description)
7.6	Changes during quarter
	(a) Increases through issues
	(b) Decreases through securities matured, converted.
7.7	Options (description and conversion factor)	95,268,936 25,766,079 38,970,230 14,150,000	95,268,936 25,766,079 38,970,230	Exercise price \$0.05 \$0.20 \$0.10 \$0.12	Expiry date 31 January, 2014 30 April, 2012 30 October, 2012 25 November, 2010
7.8	Issued during quarter
7.9	Exercised during quarter		$\tilde{\phantom{a}}$	u.
7.10	Expired during quarter
7.11	Debentures (totals only)
7.12	Unsecured notes (totals only)

⁺ See chapter 19 for defined terms.

Compliance statement

• $\mathbf{l}$ This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Law or other standards acceptable to $ASK$ (see note 4).
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Date: 30 October 2006

Sign here:

Print name: Peter L Lee

Notes

• $\mathbf{l}$ The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• $\overline{2}$ The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
• $\overline{4}$ The Appendix 5B has been prepared in accordance with Australian equivalents to international financial reporting standards, subject to any disclosure reclassifications that may be required for statutory accounting presentations under these standards.
• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

⁺ See chapter 19 for defined terms.

MINING EXPLORATION ENTITY QUARTERLY REPORT

REGIS RESOURCES N.L. ABN 28 009 174 761 For Ouarter Ended 30.9.2006 (referred to in this Statement as the "Current Quarter")

ADDITIONAL INFORMATION

Item 1.12 Cash flows related to investing activities - Other

Investments in associates of \$2,178,000 (YTD: \$2,178,000) being the Company's share of exploration expenditure on projects accounted for as Investments in associates, \$19,000 (YTD: \$19,000) being direct exploration and evaluation expenditure, and \$8,000 (YTD: \$8,000) being acquisition cost of additional equity in a commercial exploration joint venture.

Item 7.4 Ordinary Securities

Capital raising post 30 September 2006

On 27 September 2006, the Company received applications for 47,867,679 ordinary shares at an issue price of \$0.10 per share, raising \$4.79 million. These shares were formally issued following receipt of cash from this placement on 5 October 2006.

Item 7.7 Options

Listed

25.766.079 options maturing 30 April 2012 at an exercise price of \$0.20 per option. The options are exercisable any time after January 1, 2002. Each option will convert to one fully paid ordinary share.

38,970,230 options maturing 30 October 2012 at an exercise price of \$0.10 per option. The options are exercisable any time after 1 July 2003. Each option will convert to one fully paid ordinary share.

95,268,936 options maturing 31 January 2014 at an exercise price of \$0.05 per option. The options are exercisable any time. Each option will convert to one fully paid ordinary share.

Unlisted

14,150,000 options expiring 25 November, 2010, issued under the 2005 Employee Share Option Plan, with an exercise price of 12 cents per option. Upon exercise, each option will convert to one fully paid ordinary share. These options cannot be exercised until after 25 November 2007. For each participant 50% of the options are only exercisable if the share price increases to 15 cents and the balance are only exercisable if the share price increases to 18 cents.

⁺ See chapter 19 for defined terms.

MINING EXPLORATION ENTITY QUARTERLY REPORT

REGIS RESOURCES N.L. ABN 28 009 174 761 For Quarter Ended 30.9.2006 (referred to in this Statement as the "Current Quarter")

ADDITIONAL INFORMATION (continued)

Item 6.2 Interests in mining tenements acquired or increased

Tenement reference	Nature of Interest (note(2))	Interest at beginning of quarter	Interest at end of quarter
ERLISTOUN
P38/3253	Granted	$0.00\%$	59.20%
P38/3254	Granted	$0.00\%$	59.20%
MOOLART WELL
E38/1758	Granted	$0.00\%$	.59.20%
P38/3275	Granted	$0.00\%$	59.20%
P38/3276	Granted	$0.00\%$	59.20%

⁺ See chapter 19 for defined terms.