REGIS RESOURCES LIMITED — Interim / Quarterly Report 2011

Mar 16, 2011

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ABN 28 009 174 761

17 March 2011

ASX ANNOUNCEMENT & PRESS RELEASE

www.regisresources.com Level 1 1 Alvan Street Subiaco WA 6008 Australia PO Box 862 Subiaco WA 6904 Australia P 08 9442 2200 F 08 9442 2290

REGIS RETURNS TO PROFIT ON START UP OF OPERATIONS AT MOOLART WELL GOLD MINE

The commencement of operations at the Moolart Well Gold Mine in September 2010 has seen Regis report a profit after tax of $13.52 million for the half year ended 31 December 2010.

	Half Year to	Half Year to	Change
	31 Dec 10 $’000	31 Dec 09
		$’000
Gold sales	42,481	-	+42,481
Profit/(loss) before tax	13,524	(16,985)	+30,509
Profit/(loss) after tax	13,524	(16,985)	+30,509
Earnings per share (cents)	3.23	(6.52)	+9.75

HIGHLIGHTS

• The operating results at the Moolart Well Gold Mine from the commencement of operations to 31 December 2010 were as follows:

Ore mined (tonnes)	810,585
Ore milled (tonnes)	755,626
Head grade (g/t)	1.46
Recovery (%)	92
Gold production (ounces)	32,722

• Gold sales of 24,207 ounces at an average delivery price of A$1,408 per ounce.

• Cash and gold bullion holdings of $21.5 million at 31 December 2010.

• Gold production for the December 2010 quarter (first full quarter of operation) of 23,851 ounces at a pre-royalty cash cost of production of A$450 per ounce.

• JORC gold reserves stand at 2.1 million ounces with an update to the reserve at the newly discovered Garden Well gold deposit due by the end of March 2011.

• Regis moving towards commencement of development of a second stand-alone mining operation at Garden Well in the September 2011 quarter.

• JORC gold resources stand at 5.8 million ounces.

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APPENDIX 1 JORC GOLD RESERVES

	Proven	Proven			Probable			Total		Cut- off Grade g/t
Project	million tonnes	grade	gold	million	grade	gold	million	grade	gold koz
		g/t	koz	tonnes	g/t	koz	tonnes	g/t
Garden Well				27.5	1.52	1,340	27.5	1.52	1,340	0.60
Moolart Well
Laterite	9.5	1.44	437	0.6	0.98	19	10.1	1.41	455	0.50
Oxide	1.2	1.85	71	1.2	2.02	77	2.4	1.94	148	0.50
Total Moolart Well
	10.7	1.48	508	1.8	1.66	96	12.5	1.51	603
Erlistoun	1.3	2.34	95	1.4	2.37	108	2.7	2.36	203	0.70
Total Reserves
	12.0	1.56	603	30.7	1.56	1,544	42.7	1.56	2,146

Notes – all reserves other than Garden Well and Erlistoun quoted at 30/6/10.Tonnes and Ounces are rounded, rounding errors may occur. MT = million tonnes, g/t = gold grade in grams per tonne, koz = thousands of ounces

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APPENDIX 2 JORC GOLD RESOURCES (INCLUSIVE OF RESERVES)

	Measured	Measured		Indicated	Indicated			Inferred		Total Resources	Total Resources	Total Resources
													Cut-off
													Grade g/t
Project	million	grade	gold	million	grade	gold	million	grade	gold	million	grade	gold
	tonnes	g/t	koz	tonnes	g/t	koz	tonnes	g/t	koz	tonnes	g/t	koz
Moolart Well
Laterite	9.8	1.45	459	1.0	0.90	29	0.3	0.88	8	11.1	1.39	496	0.50
Oxide	1.2	1.85	71	3.9	1.52	192	6.7	1.45	314	11.9	1.51	577	0.80
Sulphide							2.4	1.37	108	2.4	1.37	108	1.00
Low Grade	4.0	0.42	54	13.9	0.47	212	48.5	0.50	774	66.4	0.49	1,040	0.30
Total Moolart Well	15.0	1.21	584	18.8	0.72	433	58.0	0.65	1,204	91.8	0.75	2,220
Garden Well				39.5	1.39	1,760	9.5	1.23	376	49.0	1.36	2,136	0.50
Erlistoun	2.3	1.92	143	3.0	1.88	179				5.3	1.90	321	0.50
Satellite Deposits
Dogbolter							0.9	2.91	87	0.9	2.91	87	1.00
Rosemont							14.7	1.72	815	14.7	1.72	815	1.00
KingJohn							0.7	3.18	72	0.7	3.18	72	1.00
Russells Find							0.4	3.84	55	0.4	3.84	55	1.00
Baneygo							0.8	1.70	43	0.8	1.70	43	0.50
Reichelts Find				0.1	3.69	17				0.1	3.69	17	1.00
Petra							0.4	3.12	42	0.4	3.12	42	2.00
Total Satellite Deposits
				0.1	3.69	17	17.9	1.94	1,114	18.0	1.95	1,131
Total	17.3	1.31	727	61.4	1.21	2,389	85.4	0.98	2,694	164.1	1.10	5,810
Regis share												5,788

Notes – all resources other than Garden Well and Erlistoun quoted at 30/6/10.Tonnes and Ounces are rounded, rounding errors may occur. MT = million tonnes, g/t = gold grade in grams per tonne, koz = thousands of ounces

The technical information in this report has been reviewed and approved by Mr Morgan Hart who is a member of the Australasian Institute of Mining and Metallurgy. Mr Hart has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Morgan Hart is a director and full time employee of Regis Resources Ltd and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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