REGIS RESOURCES LIMITED — Interim / Quarterly Report 2016

Jul 21, 2016

REGIS RESOURCES LTD

JUNE 2016 QUARTERLY REPORT & EXPLORATION UPDATE

DISCLAIMER & COMPETENT PERSONS 2 STATEMENT

This presentation contains only a brief overview of Regis Resources Limited and its associated entities ("Regis or RRL") and their respective activities and operations. The contents of this presentation, including matters relating to the geology of Regis' projects, may rely on various assumptions and subjective interpretations which it is not possible to detail in this presentation and which have not been subject to any independent verification.

This presentation contains a number of forward-looking statements. Known and unknown risks and uncertainties, and factors outside of Regis' control, may cause the actual results, performance and achievements of Regis to differ materially from those expressed or implied in this presentation. To the maximum extent permitted by law, Regis does not warrant the accuracy, currency or completeness of the information in this presentation, nor the future performance of Regis, and will not be responsible for any loss or damage arising from the use of the information. The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue. Current and potential investors and shareholders should seek independent advice before making any investment decision in regard to Regis or its activities.

The information in this presentation that relates to Exploration Results is extracted from ASX announcements released 14 June 2016 entitled "Further High Grade Results at Tooheys Well Gold Deposit" and 22 July 2016 entitled "Quarterly Report to 30 June 2016" and for which Competent Person's consents were obtained. The Competent Person's consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

The information in this presentation that relates to Mineral Resources or Ore Reserves is extracted from the Mineral Resource and Ore Reserve Statement released to the Australian Securities Exchange on 7 July 2016 for which Competent Person's consents were obtained. The Competent Person's consents remain in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original ASX announcements released on 14 June 2016, 7 July 2016 and 22 July 2016 and, in the case of estimates or Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcement.

ASX announcements are available on the Company's website at www.regisresources.com.au

REVIEW OF FY2016 Q4 OPERATIONS 3

PRODUCTION AT UPPER END OF GUIDANCE & DELIVERING STRONG CASHFLOW

	Q4	Q3
Ore mined (Mbcm)	1.10	1.13
Waste mined (Mbcm)	6.18	5.37
Stripping ratio (w:o)	5.62	4.74
Ore mined (Mtonnes)	2.54	2.62
Ore milled (Mtonnes)	2.53	2.57
Head grade (g/t)	1.07	1.02
Recovery (%)	90	90
Gold production(ounces '000)	78	76
Cash cost (A$/oz)	776	696
Cash cost inc royalty(A$/oz)	860	762
All in Sustaining Cost(A$/oz)1	951	856

OPERATIONS

• Q4 production 78,471 ounces
  • Run rate above upper end of FY16 guidance of 275-305koz
  • Fifth consecutive quarter of increased production
• Q4 throughput & recovery consistent with Q3
• Q4 grade of 1.07g/t ↑5% on Q3
  • Moolart Well higher grade areas mined
  • Continued strong grade performance at Rosemont

COSTS

• Q4 cash costs $776/oz & AISC $951/oz
  • Both below lower end of guidance but 11% higher than Q3
  • Higher due to stripping ratio up to 5.62 (up 30% on Q3)
  • Q4 scheduled mining in cutbacks at GW & RMT
  • No capitalisation of any cutback costs in Q4 (Q3: $5m)
  • Unit costs remain low after a year of reductions & cost outs

OPERATING CASH-FLOW

• Q4 operating cashflow $68.2m (Q3: $56.5m)
• FY16 operating cashflow $233.4m (FY15: $150.9m)

2 operating cash flow is quoted under the Appendix 5B classification protocol and as such does not include payments for pre-strip and deferred mining costs as these are classified as investing activities.

4 DUKETON GOLD PROJECT 4

5 FY2016 Q4 OPERATING RESULTS 5

	Operations	Duketon Northern	Operations	Duketon Southern	Total
	Q4	Q3	Q4	Q3	Q4	Q3
Oremined(Mbcm)	0.39	0.39	0.71	0.74	1.10	1.13
Wastemined(Mbcm)	1.75	1.44	4.43	3.93	6.18	5.37
Strippingratio(w:o)	4.4	3.7	6.3	5.3	5.6	4.7
Oremined(Mtonnes)	0.76	0.79	1.79	1.83	2.54	2.62
Oremilled(Mtonnes)	0.75	0.73	1.79	1.84	2.53	2.57
Headgrade(g/t)	0.94	0.83	1.12	1.09	1.07	1.02
Recovery(%)	91.0	89.8	89.9	90.1	90.2	90.0
Gold production (ounces)	20,563	17,508	57,908	58,148	78,471	75,656
Cash cost (A$/oz)	562	653	852	709	776	696
Cash cost inc royalty (A$/oz)	644	715	937	777	860	762
All in Sustaining Cost (A$/oz)	852	941	986	830	951	856

6 FY2016 Q4 OPERATING RESULTS 6

	Duketon NorthernOperations		Operations	Duketon Southern	Total
	Q4	Q3		Q3	Q4	Q3
Oremined(Mbcm)	0.39	0.39	0.71	0.74	1.10	1.13
Wastemined(Mbcm)	1.75	1.44	4.43	3.93	6.18	5.37
Strippingratio(w:o)	4.4	3.7	6.3	5.3	5.6	4.7
Oremined(Mtonnes)	0.76	0.79	1.79	1.83	2.54	2.62
Oremilled(Mtonnes)	0.75	0.73	1.79	1.84	2.53	2.57
Headgrade(g/t)	0.94	0.83	1.12	1.09	1.07	1.02
Recovery(%)	91.0	89.8	89.9	90.1	90.2	90.0
Gold production (ounces)	20,563	17,508	57,908	58,148	78,471	75,656
Cash cost (A$/oz)	562	653	852	709	776	696
Cash cost inc royalty (A$/oz)	644	715	937	777	860	762
All in Sustaining Cost (A$/oz)	852	941	986	830	951	856

DUKETON NORTHERN OPERATIONS

• Q4 production run rate above FY2016 guidance range due to higher scheduled grade
• FY16 annual production of 76,139 ounces in line with mid point of guidance range
• Q4 AISC of $852/oz below lower end of guidance and 9% lower than Q3.
  • Impact of higher grade on production, marginally offset by higher stripping ratio.
• FY16 AISC of $934/oz in line with mid point of guidance

7 FY2016 Q4 OPERATING RESULTS 7

		Duketon Northern		Duketon Southern
	Operations		Operations		Total
	Q4	Q3	Q4	Q3	Q4	Q3
Oremined(Mbcm)	0.39	0.39	0.71	0.74	1.10	1.13
Wastemined(Mbcm)	1.75	1.44	4.43	3.93	6.18	5.37
Strippingratio(w:o)	4.4	3.7	6.3	5.3	5.6	4.7
Oremined(Mtonnes)	0.76	0.79	1.79	1.83	2.54	2.62
Oremilled(Mtonnes)	0.75	0.73	1.79	1.84	2.53	2.57
Headgrade(g/t)	0.94	0.83	1.12	1.09	1.07	1.02
Recovery(%)	91.0	89.8	89.9	90.1	90.2	90.0
Gold production (ounces)	20,563	17,508	57,908	58,148	78,471	75,656
Cash cost (A$/oz)	562	653	852	709	776	696
Cash cost inc royalty (A$/oz)	644	715	937	777	860	762
All in Sustaining Cost (A$/oz)	852	941	986	830	951	856

DUKETON SOUTHERN OPERATIONS

• Q4 production consistent with Q3 and above FY2016 guidance range run rate due to ongoing strong grade performance from Rosemont and steady state optimised milling throughput at Garden Well
• FY16 production 228,945oz above upper end of guidance range & AISC $924/oz below lower end of guidance range
• Q4 AISC of $986/oz below lower end of guidance but 19% higher than Q3.
  • Scheduled cutbacks at both GW and RMT saw strip ratio increase to 6.3, a 10% increase in total material mined.
  • In Q3 $5m ($86/oz) of cutback cost at Rosemont capitalised (excluded from AISC) as expansionary capital
  • Unit cost structures continue to optimise at lowest levels in several years

8 OPERATIONS OUTLOOK

FY2017 GUIDANCE

• Gold production 300,000 330,000 ounces
• Cash costs $840 $910 per ounce
• AISC $980 $1,050 per ounce
• Growth Capex: $27m

Major components of growth capital:

• Gloster pre-production capital $7m
• Erlistoun pre-production capital $2m
• Erlistoun pre-production mining $7m
• Rosemont expansion mine cutback $7m
• FY17 production guidance higher than FY16 range of 275-305koz and FY2016 actual of 305koz
  • Impact of positive grade impact of new operations
  • Optimisation to steady state of current operations
• FY17 AISC guidance consistent with FY16 range of A$970-A$1,070
  • Guidance range slightly higher than FY16 actual A$927/oz due to early waste stripping requirements of start up operations Gloster and Erlistoun.

9 CORPORATE

JUNE 2016 QUARTER

• Operating cashflow $68.2 million (Q3: $56.5m).
• Cash and bullion holdings increased from $106.7m to $123.3m
  • $47m cash build (Q3:$38m) after allowing for debt repayment ($20m) and payment of tax ($10m).
• Early repayment of debt leaves Regis debt free other than normal creditors and leasing arrangements.
• Gold sold 86,539oz at $1,646/oz (Q3: 69,721 @ $1,638).
• Work progressing on securing infrastructure requirements for McPhillamys Gold Project in NSW.
• Non executive director Nick Giorgetta retired from board.

10 CASHFLOW WATERFALL

Strong cash-flow from operations of $68.2m for Q4 and cash build after allowing for $20m early debt payment and $10.2m of income tax paid in the quarter

11 CASHFLOW WATERFALL

Strong cash-flow from operations of $233.4m for FY2016 and cash build after allowing for $50m dividends, $20m debt repayment and $22.9m income tax paid.

12 FAMOUS BLUE GEOLOGY DEVELOPMENT GLOSTER GOLD DEPOSIT

MOVING TOWARDS PRODUCTION

• All statutory approvals for development now received.

• Road construction and road ore haulage contracts awarded.

• Road construction, MW camp expansion and haulage laydown areas underway

• Mining at Gloster is planned to commence in the Sep 2016 quarter.

• Simple low strip open cut mining and road haulage operation.

• Low startup capex $7m in FY2017.

• More than 3 years additional mill feed to the Moolart Well processing plant.

• Expected to contribute approx. 50koz of production in FY2017.

• AISC of production in FY17 < $1,000/oz.

Ore haulage road construction underway

13 DUKETON RESERVE GROWTH

RESERVES INCREASE TO 2.13Moz – MORE THAN REPLACING FY16 PRODUCTION

	Total Ore Reserve
	Tonnes(Mt)	Gold Grade(g/t)	Gold Metal(koz)
31 March 2015	59.1	1.06	2,006
Depleted by Mining to 31/3/16	-10.6	0.96	-326
31 March 2015 Net of Depletion	48.5	1.08	1,680
31 March 2016	60.8	1.09	2,125
Increasenet of Depletion	+21%		+22%

445,000 ounce (22%) increase in Ore Reserves in FY2016 net of depletion:

• Maiden Ore Reserves of 226,000 ounces at Gloster and 136,000 ounces at Baneygo;
• Addition of 81,000 ounces at Rosemont through extensional drilling and improved optimisations; and
• Addition of 27,000 ounces at Moolart Well through infill drilling.

Tooheys Well discovery to progress through resource & reserve estimation in FY2017

14 DIVERSIFIED RESERVE BASE 14

• Robust reserve base around each of the Duketon processing facilities
• Moolart Well now has a 4-5 year mine life with reserves up from 241koz (12%) to 417koz (20%)
• Despite a very strong year of operations Rosemont reserves almost fully replace production
• Less reliance on Garden Well with this project reducing from 50% to 39% of reserves
• Exploration success bearing fruit south of Rosemont & Garden Well as Southern Satellites increase from 181koz (9%) to 317koz (15%):
  • Expect importance of Southern Satellites to continue to grow as Tooheys Well enters resource & reserve estimation process

15 EXPLORATION UPDATE

SIGNIFICANT RESULTS AT DUKETON IN JUNE16Q

Completed 37,179m (FY: 154,696m) of drilling on 9 gold projects

• Tooheys Well 2.5km S of Garden Well
  • RC drilling continued returning very high grade results
  • Infill & extension drilling to continue in Q1
  • Maiden Resource estimate imminent
• Gloster 26km W of Moolart Well
  • Extensional drilling underway
• Idaho 2.2km north of Baneygo
  • Infill drilling now included in Resource
  • Early indications of potential of 10km shear north of Idaho to Rosemont
• Russells Find 6.5km S of Garden Well
  • Infill drilling now included in Resource

Proximity to 10mtpa milling infrastructure presents excellent exploration opportunity

1616 TOOHEYS WELL DRILL RESULTS

A SIGNIFICANT NEW PROJECT

• Gold shear zones hosted by chert, shale and BIF
• Early shallow AC holes ineffective
• 2013 RC drilling returned significant gold intercepts on the Western shear
• Recent drilling defined a parallel Eastern shear
• Eastern Shear open to south for 1km on MAG high
• Open to the north & south
• Further drilling underway:
  • Infill in defined areas
  • Extensional to north & south
• Maiden resource imminent & then reserve estimation

17 TOOHEYS WELL GOLD PROSPECT

DRILLING CROSS SECTION 6909340mN

• Steep E dipping high grade gold shear
• Chert BIF and shale host rocks
• Weathered 80-160m
• Significant intercepts
  • 39m @ 2.86g/t from 53m
  • 17m @1.90g/t from 95m
  • 27m @ 2.48g/t from 55m
  • 50m @ 2.75g/t from 85m
  • 53m @ 1.72g/t from 245m
  • 34m @ 1.45g/t from 203m
  • 17m @ 1.92g/t from 155m
• Fresh rock intersections
• Good widths of mineralisation at depth

1818 TOOHEYS WELL GOLD PROSPECT

DRILLING CROSS SECTION 6909380mN

• Significant intercepts
  • 54m @ 3.55g/t from 55m
  • 23m @ 3.13g/t from 144m
  • 26m @ 2.01g/t from 243m
  • 36m @ 2.73g/t from 202m
  • 16m @ 3.35g/t from 118m
• Fresh rock intersections
• Consistent grade and widths of mineralisation at depth

EXPLORATION UPSIDE 1919 TOOHEYS WELL-GARDEN WELL CORRIDOR

UNTESTED POTENTIAL NORTH & SOUTH OF TOOHEYS WELL

• TW Eastern Shear structure is interpreted to join with the gold mineralised shear zones at Chert Ridge (GW) approximately 2.5 km to north.
• Early drilling encouraging, TWRC118:
  • 15m @1.15g/t Au from 69m
  • 2m @ 2.73g/t. Au from 167m
  • 25m @ 1.41g/t. Au from 173m
• Currently defined TW mineralisation located on the northern flank of a >1km long magnetic high
• Southern half of MAG high is under cover and has seen very little drilling deeper than 50 metres below surface
  • Drill testing underway to test extension of mineralisation to the south

20 RECAP OF PRESENTATION 20

• FY2016 Q4 gold production 78,471 ounces at AISC of A$951/oz
• FY2016 gold production 305,084 ounces at AISC of A$927/oz
  • Both Q4 and FY16 production above upper end of FY16 guidance 275-305koz
  • Both Q4 and FY16 AISC below lower end of FY16 guidance of $970-1,070/oz
• Consistent production and cost performance at all operations
• Rosemont operations continue to outperform
• Cash-flow from operations $68.2m for Q3 (Q2: $56.5m)
• Repayment of $20m debt Regis debt free (other than normal creditors & leasing)
• Cash and bullion increased by $16.6m to $123.3m
  • $47m cash build allowing for payment of debt & income tax
• 2016 reserve update to 2.13Moz, more than replacing FY16 production
• Continued exciting exploration results at Duketon including Tooheys Well
  • Infill & extension drilling underway
  • Maiden resource on currently defined mineralisation imminent
  • Pointing to further mine life extensions

21 APPENDIX 1 JORC COMPLIANT ORE RESERVE ESTIMATES 31 MARCH 2016

as at 31 March 2016
Gold				Proved			Probable		Total Ore Reserve
Project	Type	Cut-Off(g/t)2	Tonnes(Mt)	Gold Grade(g/t)	Gold Metal(koz)	Tonnes(Mt)	Gold Grade(g/t)	Gold Metal(koz)	Tonnes(Mt)	Gold Grade(g/t)	Gold Metal(koz)	CompetentPerson3
Moolart Well1	Open-Pit	> 0.4	1.6	0.77	39	3.3	1.00	105	4.8	0.93	144	D
Garden Well1	Open-Pit	> 0.4	2.9	0.58	55	25.9	0.93	772	28.8	0.89	827	D
Rosemont1	Open-Pit	> 0.4	3.4	1.45	157	8.3	1.53	407	11.6	1.51	564	D
Duketon Main Deposits	Sub Total		7.9	0.99	251	37.4	1.07	1,284	45.3	1.05	1,535
Gloster	Open-Pit	> 0.5	-	-	-	7.0	1.00	226	7.0	1.00	226	D
Erlistoun	Open-Pit	> 0.5	-	-	-	3.8	1.48	181	3.8	1.48	181	D
Baneygo	Open-Pit	> 0.4	-	-	-	3.6	1.16	136	3.6	1.16	136	D
Petra	Open-Pit	> 0.5	-	-	-	0.6	1.26	25	0.6	1.26	25	D
Dogbolter	Open-Pit	> 0.5	-	-	-	0.3	1.57	16	0.3	1.57	16	D
Anchor	Open-Pit	> 0.5	-	-	-	0.1	2.07	6	0.1	2.07	6	D
Duketon Satellite Deposits	Sub Total		-	-	-	15.5	1.18	590	15.5	1.18	590
Regis	Grand Total		7.9	0.99	251	52.9	1.10	1,874	60.8	1.09	2,125

Group Ore Reserves

Notes

The above data has been rounded to the nearest 100,000 tonnes, 0.01 g/t gold grade and 1,000 ounces. Errors of summation may occur due to rounding.

1. Mineral Resources and Ore Reserves are reported inclusive of ROM Stockpiles at cut-off grade of 0.4 g/t.

2. Cutoff grades vary according to oxidation and lithology domains. Refer to Group Ore Reserves Lower Cut Notes.

3. Refer to Group Competent Person Notes.

APPENDIX 2 22 JORC COMPLIANT MINERAL RESOURCES 31 MARCH 2016

as at 31 March 2016
Gold		Measured			Indicated			Inferred			Total Resource			Competent
Project	Type	Cut-Off	Tonnes	Gold Grade	Gold Metal	Tonnes	Gold Grade	Gold Metal	Tonnes	Gold Grade	Gold Metal	Tonnes	Gold Grade	Gold Metal	Person2
Moolart Well1	Open-Pit	(g/t)0.4	(Mt)1.9	(g/t)0.72	(koz)45	(Mt)24.9	(g/t)0.74	(koz)596	(Mt)9.3	(g/t)0.62	(koz)184	(Mt)36.1	(g/t)0.71	(koz)825	A
Garden Well1	Open-Pit	0.4	2.9	0.58	55	64.8	0.89	1,859	8.0	0.89	228	75.8	0.88	2,141	B
Rosemont1	Open-Pit	0.4	4.5	1.42	204	20.5	1.42	938	3.0	1.95	189	28.0	1.48	1,331	B
Duketon Main Deposits	Sub Total		9.4	1.01	303	110.2	0.96	3,393	20.3	0.92	600	139.8	0.96	4,297
Gloster	Open-Pit	0.4	-	-	-	14.7	0.79	374	6.6	0.73	154	21.3	0.77	528	A
Baneygo	Open-Pit	0.4	-	-	-	9.2	0.96	283	1.9	0.95	57	11.1	0.96	340	A
Erlistoun	Open-Pit	0.4	-	-	-	5.7	1.34	247	1.1	1.00	37	6.9	1.28	284	A
Dogbolter	Open-Pit	0.4	-	-	-	3.5	1.11	128	0.5	1.02	16	4.0	1.10	144	A
Russells Find	Open-Pit	0.4	-	-	-	2.1	1.07	71	0.3	0.90	10	2.4	1.05	81	A
Petra	Open-Pit	0.4	-	-	-	1.2	1.08	42	0.1	1.09	2	1.3	1.08	44	A
King John	Open-Pit	0.4	-	-	-	-	-	-	0.8	1.56	42	0.8	1.56	42	A
Reichelts Find	Open-Pit	0.4	-	-	-	-	-	-	0.8	1.11	28	0.8	1.11	28	A
Anchor	Open-Pit	0.4	-	-	-	0.2	1.75	9	0.1	0.95	2	0.2	1.53	11	A
Duketon Satellite Deposits	Sub Total		-	-	-	36.6	0.98	1,155	12.2	0.89	348	48.7	0.96	1,503
Duketon	Total		9.4	1.01	303	146.8	0.96	4,548	32.4	0.91	948	188.6	0.96	5,800
McPhillamys	Total	0.4	-	-	-	69.2	0.94	2,087	3.9	0.98	123	73.2	0.94	2,210	B
Regis	Grand Total		9.4	1.01	303	216.0	0.96	6,635	36.4	0.92	1,071	261.7	0.95	8,010

Group Mineral Resources

Notes

The above data has been rounded to the nearest 100,000 tonnes, 0.01 g/t gold grade and 1,000 ounces. Errors of summation may occur due to rounding.

All Mineral Resources are reported inclusive of Ore Reserves to JORC Code 2012 unless otherwise noted.

1. Mineral Resources and Ore Reserves are reported inclusive of ROM Stockpiles at cut-off grade of 0.4 g/t.

2. Refer to Group Competent Person Notes.