REGIS RESOURCES LIMITED — Interim / Quarterly Report 2007

Apr 29, 2007

REPORT FOR THE QUARTER ENDED 31 MARCH 2007

HIGHLIGHTS

DUKETON GOLD PROJECT

MOOLART WELL DEPOSIT

• Resource infill and step-out drilling continues with 263 aircore holes, 114 RC holes and 14 diamond holes for 34,318m completed at Moolart Well;
• Significant new laterite zone intersections include:
  • $6m @ 5.48$ g/t gold from 7m in hole MWAC1917;
  • 7m $@$ 4.37 g/t gold from 7m in hole MWAC1919;
• Significant new oxide zone intersections include:
  • 12m @ 10.85 g/t gold from 29m in hole MWSRC046;
  • 27m @ 4.34 g/t gold from 36m in hole MWSRC084;
  • 14m @ 5.24 g/t gold from 41m in hole MWSRC088; $\blacksquare$
  • 25m @ 6.17 g/t gold from 41m in hole MWSRC165;
• New diamond drilling oxide zone intersections include:
  • 7m @ 12.19 g/t gold from 49m in hole MWDD009;
  • 18m @ 7.43 g/t gold from 34m in hole MWDD014;
  • 17m @ 22.44 g/t gold from 28m in hole MWDD017.
• These intersections and others will have a significant impact on the grade and the understanding of the oxide and primary mineralisation at Moolart Well.

DUKETON GOLD PROJECT DEVELOPMENT

• Extra 375,000oz of low grade resources identified at Moolart Well;
• Moolart Well Mining Leases granted;
• Optimisation pit designs completed on Satellite gold deposits;
• Stage 1 process water supply evaluation study completed $\bullet$
• New Hellman and Schofield resource estimate expected shortly, including a further 50,00m of drilling results.

GOLD EXPLORATION

• Anomalous gold results received from Moolart North and Moolart South, along the 20km long mineralized Moolart Corridor.

NICKEL EXPLORATION

• 1.8m massive sulphide in four lenses intersected in hole CRDD001 at the Sligo nickel prospect, Collurabbie. Assays are awaited.
• Matrix and disseminated sulphides intersected in hole CRD002 at Tasman North. Assays are awaited.

CORPORATE

• $7.3 million raised from existing and five new institutional investors.

INTRODUCTION

Regis Resources NL ("Regis", ASX:RRL) is an Australian minerals explorer with extensive landholdings in the Eastern Goldfields of Western Australia. The most significant of these are the Duketon Gold Project and the Collurabbie Nickel Project north of Laverton. Regis also has tenement holdings in the Leonora-Laverton area.

REVIEW OF OPERATIONS

During the quarter ended 31 March 2007 the Company focussed on the continuing detailed technical evaluation of the Duketon Gold Project, in particular the Moolart Well gold deposit, on gold exploration activities along the Moolart Corridor, and nickel exploration activities in the Collurabbie and Duketon blocks.

Duketon Gold Project Feasibility Study

Moolart Well Deposit

Geology and Resource Definition

During the quarter 391 holes for a total of 34.318 metres were completed at the Moolart Well gold deposit (Table 1). The drilling is continuing the 25m x 25m resource infill program, stepout drilling predominantly in the Stirling and Lancaster zones and geological diamond drilling on high-grade lode systems. Assays have been received for only a portion of the holes drilled, and further results are awaited.

PROPERTY	TYPE	HOLE NOS	NO HOLES	METRES
Moolart Well	aircore	MWAC1738-2000	263	21,596
	RC.	MWSRC089-202	114	10,838
	diamond	MWDD054-067	14	1.984
TOTAL			391	34,318

Table 1. Moolart Well - Drilling Summary March Quarter 2007

Laterite Zone mineralisation

Significant new laterite zone intersections received during the quarter are summarised in Table 2. These new intersections will increase the extent of the high-grade laterite ore zones mainly in the Wellington and Lancaster North areas.

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

Hole No	Northing	Easting	From	ទល	Int	Gold
	mN	mE	រារា	m	m	olt
MWSRC058	6944500	435675	5	8		3.29
MWSRC062	6944425	435675		8		3.10
MWSRC111	6944675	435675	2	5	3	3.55
				13		6.03
MWSRC122	6944700	435675		9		3.09
MWAC1917	6945700	435600		13	6	5.48
MWAC1918	6945725	435600		13	5	3.11
MWAC1919	6945725	435625		14		4.37

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 or screen-fire assay

Oxide Zone Mineralisation

Significant new oxide zone intersections from the aircore and RC drilling program are summarised in Table 3 below. The new intersections significantly increase the extent and continuity of the oxide mineralisation and several defined high-grade lodes in the Stirling, Lancaster North and Wellington areas. Further assay results are awaited.

Hole No	Northing	Easting	From	Пo	Int	Gold
	mN	mE manufacture	m	m	m	git
MWSRC040	6944450	435325	$\overline{70}$	$\overline{73}$	3	4.26
MWSRC042	6944450	435425	63	69	$\overline{6}$	2.16
MWSRC046	6944475	435300	25	26	1	8.55
			29	41	12	10.85
			60	61	1	9.33
MWSRC049	6944475	435375	35	39	4	11.23
			46	50	4	2.07
			55	56	1	6.62
MWSRC050	6944475	435400	58	62	4	3.28
MWSRC051	6944475	435425	58	62	$\overline{4}$	4.87
MWSRC055	6944475	435750	$\overline{57}$	$\overline{73}$	$\overline{16}$	2.36
MWSRC062	6944425	435675	48	51	3	6.05
MWSRC066	6944525	435775	102	104	$\overline{2}$	8.28
MWSRC073	6944550	435770	70	84	14	3.15
MWSRC081	6944575	435700	54	56	$\overline{2}$	7.74
			83	84	$\overline{1}$	8.56
MWSRC082	6944250	435860	$\overline{38}$	49	$\overline{11}$	2.19
MWSRC083	6944275	435860	29	52	23	2.65
			56	65	9	1.08
MWSRC084	6944275	435890	$\overline{36}$	63	27	4.34
			66	74	8	2.97
MWSRC085	6944275	435915	55	70	$\overline{15}$	2.23
MWSRC086	6944275	435890	37	45	8	3.55
			55	60	5	2.53
MWSRC088	6944350	435865	41	55	14	5.24
MWSRC089	6944575	435825	80	88	8	2.63
MWSRC102	6944625	435725	38	43	$\overline{5}$	3.93
MWSRC112	6944675	435700	34	40	6	8.23
MWSRC150	6944775	435675	52	60	8	4.01
MWSRC165	6944125	435912	41	66	25	6.17
MWSRC178	6944225	435350	75	81	$\overline{7}$	4.96
MWSRC184	6944250	435475	46	50	$\overline{4}$	13.17
MWAC1730	6945450	435550	62	64	$\overline{2}$	10.21
MWAC1848	6944350	436050	58	59	1	10.20
			64	68	$\overline{2}$	4.41
MWAC1856	6944325	435300	$\overline{31}$	$\overline{34}$	$\overline{3}$	65.60
MWAC1910	6945675	435225	$\overline{57}$	66	$\overline{9}$	4.55
MWAC1926	6945700	435225	48	71	23	$\frac{2.21}{2.21}$
MWAC1963	6944625	435400	55	61	6	3.36
MWAC1981	6944725	435300	65	74	$\overline{9}$	2.41

Table 3. Summary of new Oxide Zone Intersections, Moolart Well

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

Diamond Drilling

During the quarter 14 diamond holes for 1.984 metres were drilled within the Moolart Well resource envelope. Significant assay results received are summarised in Table 4 below. These results represent assays from new exploration holes, and assays from earlier-drilled metallurgical holes into the laterite and oxide zones for which metallurgical testwork has been completed.

Hole No	Northing	Easting	From	To	Int	Gold
	mN	mE	m	m	m	a/t
MWDD009	6944250	435907	49.0	56.0	7.0	12.19
			65.0	70.0	5.0	6.17
MWDD011	6944250	435788	10.0	14.7	4.7	2.34
MWDD014	6944300	435855	10.0	15.0	5.0	1.65
			34.0	52.0	18.0	7.43
			58.0	64.0	6.0	9.96
MWDD016	6944300	435913	60.0	61.0	1.0	44.70
			70.0	74.0	4.0	4.70
MWDD017	6944325	435838	28.0	45.0	17.0	22.44
			48.0	49.0	1.0	13.30
MWDD019	6944350	435843	46.0	49.0	3.0	5.62
MWDD021	6944325	435738	7.0	18.0	11.0	3.45
MWDD026	6944600	435763	86.0	88.0	2.0	9.38
MWDD029	6944700	435675	2.0	7.0	5.0	3.26
MWDD038	6946100	435263	61.0	68.0	7.0	4.18
MWDD051	6945750	435713	71.0	76.0	5.0	11.69
MWDD056	6945200	435400	63.0	66.0	3.0	10.98
MWDD057	6945200	435550	63.0	67.0	4.0	23.49

Table 4 Summary of new diamond drilling intersections, Moolart Well

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

Moolart Well Resource Update

Consultant Golder Australia has completed a resource review for the Moolart Well deposit, based on drilling to September 2006 and assays available to 7 December 2006. The resource calculation was based on 25m x 25m x 5m parent blocks; used new SG determinations: and used top cuts for laterite and oxide mineralisation similar to previous resource estimates.

A substantial amount of new gold intersection data from nearly 50,000 metres of drilling since December 2006 has become available, which has resulted in a significant change to the geological model for the oxide mineralisation. Combined with the 3m downhole compositing for oxide zone intersections, this has resulted in the resource estimate for the oxide zone having only limited relevance.

The Golder resource review however, does include the first estimate of low grade mineralisation in the resource based on the modelling of intersections above a 0.3g/t cut-off. This material could be amenable to treatment by heap leach methods or through a larger CIP/CIL mill design. A summary of the low grade mineralisation is given in Table 5 below.

	lower	uppercutoff g/t cutoff g/t	classification tonnes grade		at	ciolal.1362	method
∟aterite	0.30	0.50	indicated	4.481	0.51	73.	ΟK
abixC	0.30	0.80	inferred	20.614	0.37	302	МK
`otal				25,095	0.46	375

Table 5 Golder 2007 Low Grade Resource Summary
------------------------------------------------	--

All resource categories are JORC compliant; OK=Ordinary Kriging, MIK=Multiple Indicator Kriging

A new resource estimate has been commenced by consultants Hellman and Schofield. This resource will contain the results from a further approximately 50,000 metres of infill and stepout drilling received since the Golder resource estimate cut-off date of September 2006. Database verification, ore type interpretation and domain modelling have been completed. Final results are expected during the current quarter.

Minina Studies

Pit optimisation studies have been completed for the satellite resources at Rosemont, Erlistoun, King John, Reichelts Find, Russells Find and Baneygo which form part of the Duketon Gold Project. All of these resources are located on granted Mining Leases. Pit shells were generated at A$750, $875 and $1000/oz gold prices. These pit designs were used to examine potential in-pit resource and to highlight areas for further resource extension drilling.

Metailurgy

Further metallurgical work is planned to further characterise the laterite and lower oxide (saprock) zones, and to add metallurgical knowledge from the newer discovered laterite and oxide mineralisation. A preliminary program to test fresh-rock mineralisation characteristics has been planned for the current quarter.

Detailed extraction testwork for laterite and oxide ores was commenced during the quarter. Preliminary results indicate the optimum grind size for laterite ores may be 150um, significantly coarser than that previously reported (106um). Gold recoveries in laterite ore continue to exceed 95% based on a 48 hour residence time. Oxide testwork is planned to be completed in the current quarter.

Oxide ore handling characteristics suggest that a clay scrubber and thickener may be required in the circuit. Further testwork is being designed to complete this evaluation.

Heap leach testwork for all types has been planned for the current quarter. This work will be key in assessing whether the low grade laterite and oxide ores can be economically recovered through heap or dump leaching, or whether they should be blended with a run of mine CIP/CIL feed.

Infrastructure

The Stage 1 water supply evaluation study has been completed by consultants MWES, and a gravity survey and drilling program designed to explore for a suspected paleochannel. Additional Miscellaneous Licences have been pegged. The stage 2 delineation program is expected to be completed in the current quarter.

Power supply design and operating options are continuing to be evaluated. Various diesel/oil generating designs are in evaluation and costing. The potential of a gas supply pipeline and generation plant is also being evaluated.

Fig 1 Moolart Well Deposit - Oxide Mineralisation Zones. Note: MLAs 38/498,499, 500 and 589 were granted on 18 April 2007.

Moolart Well Mining Leases Granted

Mining Leases nos, M38/498, M38/499, M38/500 and M38/589 covering the Moolart Well gold resource were granted on 18 April 2007. A further two Mining Leases, nos M38/600 and M38/601 over the satellite King John gold and copper-gold resource were also granted on the same date.

The new leases at Moolart Well cover the area of the proposed pits, waste dumps, processing plant and other necessary infrastructure for the development of the Duketon Gold Project, centred on the Moolart Well deposit (see attached plan).

The issue of these six new leases means that all of the Duketon Gold Project's 2.29 million ounces of gold resources now sit on granted Mining Leases, allowing the mining development process to proceed.

Gold Exploration Activities

During the quarter gold exploration activities outside of the Duketon Gold Project Feasibility areas have centred on the north and southern sections of the Moolart Corridor within the Laverton Tectonic Zone, and at the Queen Margaret prospect.

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 gold deposit and for an unknown distance to the south. During the quarter exploration activities continued on both the northern and southern portions of the corridor.

Moolart North

Further assays were received from reconaissance geochemical drilling in the Moolart North area. Significant results are listed in Table 6. These results further extend the anomalous gold mineralisation in the weathering horizon and indicate further primary mineralisation hosted in the basic volcanic sequence in the area. Further work is planned.

Hole No	Northing	Easting	From	l (ö	lint	Gold
	mN	$m_{\rm E}$	m	m	m	g/t
MWAC1680	6948700	434950	11	16	5	0.82
MWAC1688	6948600	434750	68	71	3	3.11
MWAC1697	6948500	434950	11	14	3	1.44
MWAC1698	6948500	435000	10	15	5	1.05
MWAC1709	6948300	434950	39	41	2	2.06
MWAC1710	6948300	435000	12	16		0.87
MWAC1711	6948300	435050	10	13	3	1.21
MWAC1716	6948300	435300	70	71		7.93

Table 6 Moolart North Drilling- anomalous gold results.

Moolart South

Assays were received from drilling conducted in the Moolart South area during the December 2006 quarter. Significant results are indicated in Table 7 below. These results highlight the presence of Moolart-style oxide mineralisation including narrow high-grade structures over a 500m strike to the south of the Moolart Well gold resource. Compilation and evaluation of all exploration results in the area is continuing, and further drilling is planned.

Hole No	Northing	Easting	From	57ō	Jm	Gold
	mN	mE	m	m	m	g/t
MWAC1570	6943100	435150	30	32		3.34
MWAC1571	6943100	435200	47	53		1.68
			85	86		5.16
MWAC1592	6943500	435200	57	67	10	2.06
MWAC1597	6943500	435550	27	28		2.02
MWAC1757	6943600	435300	63	67		1.22
MWAC1758	6943600	435550	76	77		6.01
MWAC1791	6943300	435350	47	48		16.10

		Table 7 Moolart South Drilling - anomalous gold results.

Duketon Regional

A program of RC was completed at Queen Margaret M38/262. Ten RC holes for 1,105m were completed. Significant results are indicated in Table 8 below. The results are consistent with previous interpretation of a steep westerly-dipping mineralised structure. Further exploration is planned.

Table 8 Queen Margaret Drilling - anomalous gold results.
-----------------------------------------------------------	--	--	--	--	--	--

li ole No	NorthingmN	Eastingme	Etemm	łоm	linim	Goldq/t
QMSRC001	6893445	438623	86			1 20
OMSRC003	6893495	438619	80	83		2.54
OMSRC006	6893570	438606	82	84		6.41
QMSRC007	6893595	438601	86	89		3.44

Nickel Exploration Activities

During the quarter nickel exploration activities consisted of diamond drilling on TEM and geochemical nickel targets at Collurabbie, and further compilation and modelling of nickel sulphide exploration targets in the Collurabbie and Duketon blocks.

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.

Fig 2 Collurabbie Nickel Province.

Sligo Nickel Prospect (Regis 100%)

The Sligo prospect is located in the southern Collurabbie area within an isolated sequence of ultramafic-mafic rocks. Anomalous nickel and copper levels were first detected in the area in historical RAB drilling. Follow up exploration by Regis in 2005 and 2006 resulted in the discovery οf an nickel-copper-zinc anomalous zone extending over 4 km and associated with the ultramafic stratigraphy. The anomaly is open to the north and south.

Fig 3. Sligo nickel prospect, Collurabbie.

A TEM conductor extending over 400m was defined in late 2006. Modelling of the conductor indicated a west-dipping body below 100m interpreted to lie close to or within the ultramafic sequence.

Fig 4. Location of Sligo CRD001.

Diamond drill hole CRD001 tested the Sligo TEM anomaly during the quarter. The hole returned an intersection of 1.8m of massive sulphides in four separate lenses, and a further 16m of matrix sulphides in three zones. The sulphides are pyrrhotite-dominant with lesser pyrite. and chalcopyrite and minor galena have been logged. The sulphides are located within a sediment sequence adjacent to an ultramafic unit, and may have been remobilised. Assays are awaited.

Hole No	NorthingmN	Eastingករាគ	Fromm	To.m	Jafm
CRDD001	6994400	425600
Massive Sulphides			162.80	163.65	0.85
			175.09	175.34	0.25
			198.25	198.42	0.17
			224.00	224.53	0.53
Matrix Sulphides			186.4	192.0	5.6
			203.0	208.0	5.0
			219.0	224.5	5.5

Table 9 Sligo Nickel Prospect - Hole CRDD001 Sulphide Intersections

Further detailed exploration is planned in the current quarter to delineate the full extent of the known sulphide position, and to cover the nickel-copper geochemical anomalies apparently located within the ultramafic units adjacent to this intersection, and elsewhere in parts of the 4km Sligo strike length. Further TEM is coverage is planned over the northern extent of the anomaly.

Fig 5 Sligo Drillhole CRD001 - Massive Sulphide intersection 162.8-163.65m

Fig 6. Sligo Interpretative Cross Section.

Tasman North Nickel prospect (Regis 80%, Falcon Minerals 20%)

At the Tasman North nickel prospect diamond drill hole CRDD002 designed to test a coincident TEM - Ni geochemical anomaly TAS 80 has intersected a cherty sulphidic unit on an ultramafic contact at 122m depth. The cherty unit is approximately 9m thick and contains abundant disseminated pyrrhotite and minor pyrite sulphides. A massive/matrix pyrrhotite sulphide zone 0.25m thick occurs towards the base of the overturned unit. Assays are awaited and evaluation of the results are underway.

Tasman Nickel prospect (Regis 100%)

At the Tasman nickel prospect diamond drillhole CRD003 was designed to test a coincident TEM anomaly and nickel-copper geochemistry known as Tas 25-28. The hole was drilled to target depth of 300 metres with no obvious source of the TEM conductor detected. Results are being evaluated.

Table 10 Collurabbie Diamond drilling summary

Kole No	Nonhiniamus	Eastingtra las	Deathm	Tarcet
CRDD001	6994400	425600.	263.1	TEM, Ni geochem anomaly
CRDD002	7000400	416080	275.9	TEM, Ni geochem anomaly
CRDD003	6994300	419685	300	TEM, Ni geochem anomaly

Laverton-Leonora Exploration Projects

Copper Well Joint Venture (Regis 100-85%, manager) No field work was undertaken during the quarter.

Melita Joint Venture (Regis earning 70% and manager) No field work was undertaken during the quarter.

Corporate

Capital Raising

Regis completed the raising of $7.3 million of new capital subsequent to the end of the quarter. The funds were raised from five new institutional investors from Europe and the United Kingdom, as well as from existing shareholders in Australia and North America.

The funds from the issue will be used for working capital purposes, to fund the feasibility study for the Duketon Gold Project including orders on long-lead items for the proposed Moolart Well gold processing facility, and to fund current gold and nickel exploration programmes including deep diamond drilling at Moolart Well and Collurabbie in the Eastern Goldfields of Western Australia.

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 April 2007

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") 31 March 2007

Consolidated statement of cash flows

Cash flows related to operating activities		Current quarter$A'000	Y I D(9 Months)
				$A'000
1.1		Receipts from product sales and related debtors	u.
1.2	Payments for	(a) exploration and evaluation	(2, 443)	(2,408)
		(b) development
		(c) production
		(d) administration	(155)	(831)
1.3	Dividends received
1.4	received	Interest and other items of a similar nature	33	155
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)		(87)	(174)
	Net Operating Cash Flows		(2,652)	(3,258)
	Cash flows related to investing activities
1.8	Payment for purchases of:
		(a) prospects
		(b) equity investments
		(c) other fixed assets	(47)	(398)
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		(36)	(5, 815)
	Net investing cash flows		(83)	(6, 213)
1.13	forward)	Total Operating and investing cash flows (carried	(2,735)	(9,471)

$\pm$ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (broughtforward)	(2,735)	(9,471)
1.141.151.16	Cash flows related to financing activitiesProceeds from issues of shares, options, etc.(NET)Proceeds from sale of forfeited sharesProceeds from borrowings	800	5.370
1.171.181.19	Repayment of borrowingsDividends paidOther (provide details if material)(See additional information Item 1.19)	1,269	1,269
	Net financing cash flows	2.069	6.639
	Net increase (decrease) in cash held	(666)	(2,832)
1.201.21	Cash at beginning of quarter/year to dateExchange rate adjustments to item 1.20	2,285	4.451
1.22	Cash at end of quarter	1,619	1.619

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

1.23 Aggregate amount of payments to the parties included in item 1.2

Current quarter$A'000

• 1.24 Aggregate amount of loans to the parties included in item 1.10
• 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

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	SALE	$\overline{\phantom{a}}$
3.2	Credit standby arrangements	$\mathbf{w}$	44

+ See chapter 19 for defined terms.

Estimated cash outflows for next quarter

4.1	Exploration and evaluation	$A'0006,500
-4.2	Development	$\overline{ }$
	(See Note 7.4 regarding capital raising)Total	6,500

Reconciliation of cash

Reconciliation of cash at the end of the quarter(as shown in the consolidated statement of cashflows) to the related items in the accounts is asfollows.		Current quarter$A'000	Previous quarter$A'000
5.1	Cash on hand and at bank	1,602	2,268
5.2	Deposits at call	17	17
5.3	Bank overdraft
5.4	Other (provide details)
	Total: cash at end of quarter (item 1.22)	1,619	2,285

Changes in interests in mining tenements

		Tenementreference	Nature of interest(note (2))	Interest atbeginningof quarter	Interest atend ofquarter
6.1	Interests in miningtenementsrelinquished, reducedor lapsed		Nil
6.2	Interests in miningtenements acquired orincreased		Nil

$\pm$ See chapter 19 for defined terms.

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

		Total number	Number quoted	Issue price per	Amount paid up per
				security (see note	security (see note 3)
				3) (cents)	(cents)
7.1	*Preference
	securities(descript
	ion)
7.2	Changes during
	quarter
	(a) Increases
	through issues(b) Decreases
	through returns of
	capital, buy-backs,
	redemptions
7.3	+Ordinary
	securities	1,144,704,810	1,144,704,810
7.4	Changes during
	quarter
	(a) Increases	8,000,000	8,000,000	$0.10	$0.10
	through issues(b) Decreases
	through returns of
	capital, buy-backs
7.5	*Convertible debt
	securities(descript
	ion)
7.6	Changes during
	quarter
	(a) Increasesthrough issues
	(b) Decreases
	through securities
	matured,
	converted.
7.7	Options			Exercise price	Expiry date
	(description andconversion factor)	95,268,936	95,268,936	$0.05	31 January, 2014
		25,766,079	25,766,079	$0.20	30 April, 2012
		38,970,230	38,970,230	$0.10	30 October, 2012
		12,900,000	$\ddot{\phantom{0}}$	$0.12	25 November, 2010
		8,280,000		$0.1146	31 October, 2011
		450,000		$0.1088	7 December, 2011
7.8	Issued duringquarter
7.9	Exercised during
	quarter			w
7.10	Expired during
	quarter
	Forfeited
7.11	Debentures
	(totals only)
7.12	Unsecured notes
	(totals only)

$+$ See chapter 19 for defined terms.

Compliance statement

• $\mathbf{1}$ This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Law or other standards acceptable to ASX (see note 4).
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Sign here:

(Company Secretary)

Date: 30 April 2007

Print name: Peter J. Lee

Notes

• 1 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.
• The Appendix 5B has been prepared in accordance with Australian equivalents 4 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 Quarter Ended 31.03.2007 (referred to in this Statement as the "Current Quarter")

ADDITIONAL INFORMATION

Item 1.2 Cash flows related to operations - payments for exploration and evaluation

Cash outflows for exploration and evaluation are shown in this statement as cash flows related to operations on the basis that the group's operational activity is minerals exploration and evaluation. For statutory reporting purposes in the financial statements for the full year, these cash flows may be required to be reclassified to investing activities for compliance with current applicable accounting standards.

Item 1.12 Cash flows related to investing activities - Other

	Mar 07 Qtr$A '000	YTD$A '000
(Outflows):
Investments in associates		(5, 166)
(Company's share of exploration expenditure on projectsaccounted for as investments in associates (see note))
Acquisition costs	(36)	(157)
(Costs paid to acquire interest in subsidiary)
Performance bonds		(492)
(Amounts paid to bank as security for environmentalperformance bonds issued in relation to exploration/miningtenements)
Total (Outflows):	(36)	(5.815)

Note: On 14 December 2006 the Company acquired a further 51% interest in Duketon Resources Pty Ltd, which had, up to this time, been the most significant associate to which these cash flows related.

Item 1.19 Cash flows related to financing activities - Other

Receipts relating to applications for new shares that were allotted after the end of the current quarter - $1,269,000. See note for item 7.4.

Item 7.4 Ordinary Securities

Issued during the current quarter

On 23 February 2007, 8,000,000 fully paid ordinary shares in the Company were issued at an issue price of $0.10 per share, raising $800,000.

+ See chapter 19 for defined terms.

MINING EXPLORATION ENTITY QUARTERLY REPORT

REGIS RESOURCES N.L. ABN 28 009 174 761 For Quarter Ended 31.03.2007 (referred to in this Statement as the "Current Quarter")

ADDITIONAL INFORMATION (continued)

Item 7.4 Ordinary Securities - continued

Capital raising post 31 March 2007

On 5 April 2007, 16,366,000 fully paid ordinary shares in the Company were issued at an issue price of $0.08 per share, raising $1,309,280.

On 18 April 2007, 52,762,515 fully paid ordinary shares in the Company were issued at an issue price of $0.08 per share, raising $4,221,001.

On 26 April 2007, 12,500,000 fully paid ordinary shares in the Company were issued at an issue price of $0.08 per share, raising $1,000,000.

The total value of the placements described above is $7,330,281.

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

12,900,000 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.

8,280,000 options expiring 31 October 2011, issued under the 2005 Employee Share Option Plan, with an exercise price of 11.46 cents per option. Upon exercise, each option will convert to one fully paid ordinary share. These options cannot be exercised until after 31 October 2008. For each participant the options are only exercisable if the share price increases to 14.33 cents.

450,000 options expiring 7 December 2011 issued under the 2005 Employee Share Option Plan, with an exercise price of 10.88 cents per option. Upon exercise, each option will convert to one fully paid ordinary share. These options cannot be exercised until after 7 December 2008. 50% of these options are only exercisable if the share price increases to 13.6 cents and the balance are only exercisable if the share price increases to 16.32 cents.

+ See chapter 19 for defined terms.