REGIS RESOURCES LIMITED — Interim / Quarterly Report 2022

Oct 25, 2021

Operations

• The 12 Month Moving Average Lost Time Injury Frequency Rate (LTIFR) was steady at 1.3 at the end of the quarter.
• Quarterly gold production of 101,989oz at an AISC of $1,521/oz with a Duketon production of 73,074oz at an AISC of $1,617/oz and Tropicana of 28,914oz at an AISC of $1,179/oz.
• Gold sales for the quarter totalled $179M at an average realised price of $2,178/oz after adjusting for hedging.
• C1 Cash cost before royalties (inclusive of Tropicana) for the quarter of $1,072/oz.
• Generated Operating Cash of $52M from Duketon and $42M from Tropicana
• Cash and bullion of $208M down from $269M in the June quarter after reduced bullion production for the quarter and $77M expenditure on capital, $22M in dividends, $21M in income tax and $17M for exploration and McPhillamys and $17M for other (incl corporate).
• Maintaining FY22 Guidance of 460-515koz of gold, AISC of $1,290-1,365/oz and Growth Capital of $155- 165M
• COVID related issues are rising as a potential restriction on the company due to high labour turnover and increasing competition for replacement personnel.

Growth

• Development of the Garden Well South underground mine continued with first ore expected in the December quarter and stoping to commence late in the June 2022 quarter.
• Further strong mineralisation indicated by drilling beneath Garden Well Main pit continues to demonstrate the potential for establishing a new underground resource and potentially an additional underground production area.
• The McPhillamys team continues to be actively engaged with the various government departments and while progress has been achieved, approval timing is largely outside the Company's control.

Regis Resources Managing Director, Jim Beyer, said: "The September quarter was a difficult one with the already planned lower production flagged when we provided guidance for FY22 accompanied with some challenges that were not expected.

The quarter continued Regis solid safety performance. Our LTIFR is now the lowest it has been for many years and pleasingly below the WA gold industry average.

Regis has continued to manage our ongoing response to COVID which has been coordinated in cooperation with our contractors.

While the quarter was always expected to be soft due to activity schedule, some unplanned short term operational issues did arise. These impacted on production timing and are expected to be recovered over the remaining financial year.

Development continued at our latest growth project, the Garden Well South underground mine. We are expecting to reach first ore before the end of December and stoping is due to commence late in the June 2022 quarter. This will be a significant addition to our production profile and a platform to potentially extend life further through underground exploration at the growing Garden Well mining centre.

Progress of the permitting process for McPhillamys continues albeit frustratingly slow. Under the current advice we anticipate a potential recommendation by DPIE to the IPC has the potential to be made in the first half of FY22, although we accept that the timing is largely outside of Regis' control.

Looking forward, Regis maintains its overall guidance for the FY22 year of a production range of 460–515koz at an AISC range of $1,290-1,365/oz.

It is clear there are risks of further COVID impacts in both supply chains and personnel availability. The mandating of vaccination shots is viewed by Regis as a critical element of the path out of this period of uncertainty and we are actively supporting and planning for this initiative. We note the mandatory nature of the vaccination requirements in Western Australia may result in further near-term labour availability risks.

Health, Safety and Environment1

The 12-month moving average lost time injury frequency rate was steady at 1.3 compared with 3.1 at the end of Q1 FY20 a performance that is better than the WA gold industry average as published by Department of Mines, Industry Regulation and Safety. Safety culture and performance continues to be a top priority for us as we strive to keep our people safe and healthy.

There have been no environmental non-compliances or significant incidents during the quarter.

Regis' Management Team has continued to manage our ongoing response to COVID which has been coordinated in cooperation with our contractors. These measures help ensure the health and welfare of our employees and their respective communities. To date there have been no confirmed cases of COVID across the business.

Regis also continues to maintain a range of measures, controls, and crisis management plans across the business consistent with advice from State and Federal health authorities and commensurate with the community risk profile. The Company supports the ongoing vaccination roll-out programs and sees this as a critical element of the path out of this period uncertainty and potential health risk. The company is encouraging employees and contractors to participate and is actively working toward compliance with recent directives for mandatory vaccination of FIFO workers at the Duketon site by the 1st of December 2021.

OPERATIONS

The September quarter production for Regis totalled 101,989oz at an AISC of $1,521/oz.

As foreshadowed in guidance commentary, Duketon operations recorded production of 73,074oz at an AISC of $1,617/oz, a significant reduction in performance compared with the record June quarter production of 96,829oz at an AISC $1,254/oz. Tropicana (30%) operations recorded production for the quarter of 28,914oz at an AISC of $1,179/oz.

While the quarter was always expected to be soft due to production scheduling, some unplanned short term operational issues also occurred. These impacted on timing of production and are expected to be recovered over the remaining financial year. Across the operations general total material movements and surface haulage operations were variable during the quarter. While planned scheduling of activity was always expected to impact production, increased labour turnover and the requirement to introduce less experienced operators and associated training also played into performance. This appears to be a trend across industry with a general increasing demand for experienced operators exacerbated by COVID related restrictions in Western Australia

Duketon Northern Operations (DNO)

• Moolart Well

Production from Moolart Well was 14,185oz during the September quarter, lower than the June quarter production of 19,078oz. Ore tonnes milled increased to 785kt, which is higher from the previous quarter of 755kt despite downtime for mill maintenance. Reduced gold production was largely due to a drop in feed grade (0.90 g/t Au to 0.63 g/t Au) with the impact of lower grade being partially offset by higher tonnes milled and improved recovery (from 87.2% to 89.0%).

Lower mill feed grades were a result of the treatment of low grade stockpiles while pits were rescheduled as a result of wet floor conditions and following year end as planned. Short term variation in grade and the presentation of ore associated with mining through the near surface oxides, including laterite and depletion zones in Blenheim pit have also impacted on ore feed for processing. This variability will continue until the end of Quarter 2. Once through this highly variable zone we will see head grades lift and a subsequent increase in production.

Moolart Well AISC increased to $1,720/oz in the September quarter from $1,248/oz in the June quarter due to lower gold production.

Growth capital for the September quarter was $12.9 million, which related to mine development at the Moolart Well pit and Gloster cutback.

Duketon Southern Operations (DSO)

• Rosemont

Production from Rosemont was 24,243oz, down from the previous quarter of 32,319oz. Ore tonnes milled were 515kt, 3% higher than the previous quarter. This was offset by lower feed grade and recoveries (from 2.14 g/t to 1.59g/t and 93.7 to 91.9% respectively).

Overall surface movements were up 12% on the prior quarter as a result of scheduled capacity re-allocated from Garden Well.

1 Regis reporting of safety statistics and environmental incidents will not include Tropicana as this data will be reported separately in the discussion section.

Lower mill feed grades were largely a result of the treatment of low grade stockpiles while pits were rescheduled as a result of unplanned geotechnical issues in Rosemont North and Main pits. These issues resulted in delays while adequate controls were put in place to manage the risk and allow access to ore. This work has now been largely completed and while it is not expected to be an ongoing issue, it is being carefully monitored as these pits are completed as planned during FY22.

The proportion of gold attributable to underground was 66% of gold produced at Rosemont as stoping performance settled into the planned production rates. Total development for the quarter was 1,806m, 4% higher than the June quarter.

Rosemont AISC increased to $1,868/oz in the September quarter from $1,349/oz in the June quarter due to lower gold production as a result of the lower grade mill feed.

Growth capital for the September quarter was $2.1 million, which related to mine development at the Rosemont Underground mine.

• Garden Well

Production from Garden Well was 34,646oz, down from the previous quarter production of 45,432oz. Ore tonnes milled of 925kt were 10% lower than the previous quarter. While mill feed grades and recoveries were also down on the prior quarter (from 1.52g/t to 1.30g/t and 90.8 to 89.8% respectively).

Mill throughput was impacted by a major scheduled mill shutdown carried out during the quarter. This included replacement of the mill motor that subsequently required monitoring and further adjustment prior to achieving full production capacity. Feed grades and recoveries were lower as higher grade but more metallurgically difficult Tooheys Well ore, was fed to the mill. Additional liquid oxygen capacity to be installed during Q2 is expected to improve our ability to treat more of this higher-grade material.

Total material movement was 13% lower as a result of planned scheduled allocation of equipment and COVID related drop in equipment performance, specifically related to drill and blast. To recover this lost performance, additional personnel as well as earthmoving, drill and blast and grade control equipment were mobilised to DSO and were operational from October.

Garden Well AISC increased to $1,400/oz in the September quarter from $1,179/oz in the June quarter due to lower gold production.

		FY21	FY21	FY21	FY21
		Q1	Q2	Q3	Q4		FY 22 September Quarter
Details	Unit	Total	Total	Total	Total	DNO	DSO	TOTAL
Open Pit Ore mined	Mbcm	1.05	1.09	0.85	1.02	0.15	0.69	0.84
Open Pit Waste mined	Mbcm	7.69	6.75	6.37	6.29	4.54	2.84	7.39
Stripping ratio	Waste:Ore	7.4	6.2	7.5	6.2	29.4	4.1	8.8
Ore mined	Mt	2.58	2.64	2.00	2.67	0.32	1.90	2.22
Ore milled	Mt	2.41	2.46	2.37	2.28	0.78	1.44	2.22
Head grade	g/t Au	1.15	1.24	1.23	1.45	0.63	1.40	1.13
Recovery	%	91.4	92.8	91.9	91.0	89.0	91.9	90.4
Gold production	oz	81,567	91,411	85,748	96,828	14,185	58,889	73,074

Growth capital for the September quarter was $10.6 million, which related to mine development at the Garden Well Underground mine and the associated infrastructure.

Totals may not add due to rounding Table 1: Duketon operation historical physicals with September quarter results

In line with previous guidance, Duketon is expected to see stronger production over the remainder of the year as the planned access to higher grade ore starts to flow through and additional equipment mobilised to site improves overall volume movements.

While maintaining this guidance, Regis notes the ongoing labour turnover and availability risk along with potential impacts of the requirement for mandatory COVID vaccination also impacting on personnel availability at Duketon are yet to be fully understood.

Tropicana Operation

The 12-month moving average LTIFR was maintained at zero which is a continuation of the strong safety performance at Tropicana.

There were no reported environmental significant incidents or non-compliances over the quarter.

The September quarter was the first full quarter of ownership by Regis. Production for the September quarter totalled 96,381oz (100%) and 28,914oz (30%) at an AISC of $1,179/oz.

Ore production from the Boston Shaker underground operation continues to increase in line with expectations, this higher grade feed material has driven an increase in the mill feed grade by 8% from the June quarter.

Ore processed increased by 11% compared to the June quarter when a large, scheduled shutdown took place and benefited from the completion of a capital project to increase the capacity of the thickener circuit, which increased the maximum throughput of the plant.

Total open pit total material movement during the quarter was lower, primarily due to reduced blasthole drill rig performance. This was caused by reduced spare parts availability and a shortage of skilled operators. Both issues are COVID related. To date actions to address the issues indicate there should be limited impact on current FY22 production. However, this area of risk is expected to continue while COVID restrictions potentially impact ongoing spares and labour availability.

Full year guidance for Tropicana has been maintained and ongoing impacts of COVID on current labour and supply chains will be monitored for potential impacts. Impacts of the impending requirement for mandatory vaccination on personnel availability are yet to be fully understood.

Growth capital for the September quarter was $14.3 million (30%) relating to mine development at the Havana cutback.

		FY21	FY22	FY22
Details		Q4 (100%) *	Q1 (100%)	Q1 (30%)
	Unit	Total	Total	Total
Open pit ore mined	Mbcm	0.24	0.19	0.06
Open pit wastemined	Mbcm	5.98	5.84	1.75
Stripping ratio	Waste: Ore	25.1	30.1	30.1
Total Ore Mined	Mt	0.91	0.87	0.26
Ore milled	Mt	2.18	2.43	0.73
Head grade	g/t Au	1.28	1.38	1.38
Recovery	%	90.0	89.4	89.4
Gold production	oz	89,517	96,381	28,914
Totals may not add due to rounding

* For comparative purposes only. Ownership was May and June only.

Table 2: September quarter summary of attributable production at Tropicana.

CORPORATE

Finance

Cash Position and Gold Sales

During the September quarter Regis sold 82,050oz at an average price of $2,178/oz down from $2,222/oz in the prior quarter. A total of 32,279oz was on hand at the end of the quarter (including attributable gold on hand from Tropicana) up from 11,153oz at the end of the previous quarter.

Regis generated operating cash flow of $50.7M from Duketon and $41.7M from Tropicana in the September quarter for a total of $92.5M down from $108.5M recorded in the June quarter, with the reduction being driven by lower production in the September quarter.

Capital expenditure for the September quarter was $77M, which included:

• At Duketon, $32.8M in deferred waste costs, development costs of $11.4M at the Rosemont Underground and the Garden Well South Underground and $5.7M in plant and equipment; and
• At Tropicana (30%), $14.3M in development costs at the Havana cut back, $5.0M in deferred waste costs at the Boston Shaker open pit, development costs of $2.4M at the Boston Shaker Underground and $2.7M in plant and equipment.

Capital expenditure increased in the September quarter at both Duketon and Tropicana, increasing from $47M in the June quarter to $77M in the September Quarter. This was driven primarily by increased pre-strip costs, deferred waste costs and costs associated with infrastructure for the Garden Well underground at Duketon along with increased capital costs at Tropicana as the Havana cut back continued to progress and the prior quarter only included 2 months.

Details	Unit	MoolartWell	GardenWell	Rosemont	Tropicana	TotalFY22 Q1	FY21 Q4
Ore Mined	Mbcm	0.15	0.54	0.15	0.06	0.90	1.06
Waste Mined	Mbcm	4.54	1.80	1.04	1.75	9.14	7.46
StrippingRatio	Waste:Ore	29.4	3.3	7.1	30.1	10.2	7.0
Ore Mined	Mt	0.32	1.37	0.53	0.26	2.48	2.84
Ore Milled	Mt	0.78	0.93	0.51	0.73	2.95	2.71
Head Grade	g/t Au	0.63	1.30	1.59	1.38	1.19	1.44
Recovery	%	89.0	89.8	91.9	89.4	90.1	90.8
GoldProduction	oz	14,185	34,646	24,243	28,914	101,989	114,145
Mining	$M	9.8	27.3	22.8	9.6	69.6	79.6
Milling	$M	10.9	19.4	11.2	11.5	53.0	44.9
Administration	$M	2.2	3.4	1.4	4.9	11.9	9.4
OreInventoryAdjustments	$M	(6.5)	(13.7)	(1.0)	(3.9)	(25.1)	(15.4)
Total CashCosts	$M	16.4	36.3	34.4	22.2	109.4	118.5
Royalties	$M	1.4	3.3	2.2	1.8	8.6	11.9
CapitalWorks	$M	6.6	8.9	8.7	10.1	34.3	26.6
Corporate	$M	-	-	-	-	2.8	0.6
All inSustainingCosts	$M	24.4	48.5	45.3	34.1	155.1	158.3
All inSustainingCosts	$/oz	1,720	1,400	1,868	1,179	1,521	1,387

Table 3 below shows provides a summary of physicals and costs by site for the September quarter:

1 AISC calculated on a per ounce of production basis

2 Totals may not add due to rounding

3 Information for Tropicana for FY21 Q4 is shown from 1 May 2021 as date of acquisition of the Company's 30% interest in Tropicana is 30 April 2021

Table 3: Physicals and costs data summary by site for the September quarter

Other significant outflows during the September quarter included a dividend payment of $22M, income tax of $21M, exploration and McPhillamys costs of $16M, and $7M in residual costs associated with the Tropicana acquisition.

Whilst Regis achieved a solid operating cash flow for the September quarter, the reduced production combined with higher capital costs, a dividend payment, significant income tax payments and the other costs outlined above resulted in the Company's cash and bullion balance reducing to $208.8M, at the end of the September quarter down from $268.7M at the end of the June 21 Quarter.

Figure 1 (below) shows the major items of cash movement during the September quarter.

Figure 1: Waterfall graph illustrating key changes in cash and gold on hand in the September quarter (unaudited)

Gold Hedging

During the quarter, the Company delivered into 25,000 ounces of hedging, reducing its hedge book to 295,000 ounces at $1,571/oz as at 30 September 2021 down from 320,000 ounces at $1,571/oz as at 30 June 2021.

FY22 Guidance

Regis maintains its guidance for FY22 as detailed in Table 4. While maintaining this guidance, Regis notes further lockdowns in WA and across Australia, along with associated travel restrictions are causing pressures on the business, including extending periods to fill vacancy and labour cost pressures. In addition, potential impacts of the requirement for mandatory vaccination including personnel availability are not fully understood. The situation remains fluid and the Company continues to monitor for potential impacts and take action where appropriate.

	Duketon	Tropicana(30%)	Group
Production (oz)	340,000-380,000	120,000-135,000	460,000-515,000
C1 ($/oz)	1,080 –1,140	1,045-1,125	1,070-1,135
AISC ($/oz)	1,340 – 1,410	1,140 – 1,230	1,290-1,365
Growth Capital ($M)	85-90	70-75	155-165
Exploration ($M)	35	8	43

Table 4: Guidance for key metrics FY22.

GROWTH

Garden Well South Underground Project Progressing Well

Underground development of 765m was completed, compared to 436m in the June quarter (Figure 2). Site establishment works are well underway with office and workshop facilities almost completed and equipment associated with major underground infrastructure on order. Development progress has now allowed access for the commencement of grade control drilling which will start targeting areas of initial production in the upper sections in October.

When complete, as per the Feasibility Study (FS) this new additional production source is expected to provide access to material mined of 1.85Mt at 3.2 g/t Au for a total of 190koz. Work will continue to further grow and define the resource via drilling from underground platforms. Development remains on track with first ore expected during the December quarter. Stoping is expected late in the June 2022 quarter.

Figure 2: Garden Well South portal establishment and initial development drive.

Garden Well Main Underground taking shape as potential additional production.

Drilling has continued within the target area 1km to the north of the approved Garden Well South (GWS) underground mine. This mineralisation extends down plunge of the Garden Well Main (GWM) pit mineralisation (Figure 3). Two separate high grade shoots, hosted in sheared ultramafic rocks have been identified and diamond drilling is continuing to test the continuity of the gold mineralisation.

Drilling results continue to firm up the high-grade south plunging shoots beneath main pit with the better intercepts below demonstrating the potential:

•	9.6m @ 4.4 g/t gold from 479m	RRLGDDD188
•	9.6m @ 3.7 g/t gold from 431m	RRLGDDD191
•	10.8m @ 2.3 g/t gold from 486m	RRLGDDD193
•	7.1m @ 2.9 g/t gold from 482m	RRLGDDD195
•	24.5m @ 3.2 g/t gold from 492m	RRLGDDD195
•	8.9m @ 3.2 g/t gold from 460m	RRLGDDD195W1

Drill hole and sample details for all holes are included in Appendix 1 to this report. Garden Well intercepts above calculated using a 2.0 g/t gold lower cut, no upper cut, maximum 2m internal dilution. All diamond drill assays determined on half core (NQ2) samples by fire assay.

These strong results are demonstrating the potential value of establishing early access to this zone via a decline between the GWS underground mine and the growing GWM area. While broadly spaced, the drilling intersections along with knowledge gathered while mining the open pit above the target zone, provide enough confidence that a small production area could deliver enough ounces to at least payback potential decline establishment costs and provide a modest return. The decline would also provide an ideal platform for both infill and extensional drilling at GWM plus allowing the follow-up of high-grade results in the very prospective area between GWS and GWM. (Figure 3).

The potential is currently being evaluated and a decision is possible in the current quarter.

Figure 3: Garden Well long section looking west showing high grade intercepts under Main pit, the existing and planned underground mine at Garden Well South and the conceptual exploration decline.

McPhillamys Gold Project

The McPhillamys Gold Project in New South Wales is one of Australia's largest undeveloped open pit gold projects with an Ore Reserve of 61Mt at 1.0 g/t Au for 2.02Moz. With strong community support, as indicated by independent research that was commissioned across Blayney and Central West NSW, the project has the potential to play an important role in delivering social and economic stimulus to regional NSW.

The latest outbreak of COVID within the State of NSW has been very difficult for residents and has added to a list of frustrating impediments to the progress of permits required for the project and our efforts to get relevant statutory bodies, bureaucrats, technical experts and other stakeholders together to clarify and resolve outstanding matters. Regis notes that the government is still to make a final decision in relation to a number of aspects that have potential impacts on McPhillamys and the broader resources industry in NSW.

Regis continued to work with a number of departments including: the Department of Planning, Industry and Environment (DPIE) which is the department required to make a recommendation on the Project to the Independent Planning Commission (IPC); The Department of Mining, Exploration and Geoscience (MEG) which is responsible for the Mining License application; The Federal Department of Agriculture, Water and Environment and other statutory bodies and stakeholders associated with permitting of the proposed McPhillamys project. We continue to target the potential recommendation by DPIE to the IPC in the first half of FY22 while recognising that the actual timing of any decision is largely outside of the Company's immediate control.

Despite the lack of final approvals, Regis continues to progress the Definitive Feasibility Study (DFS) as far as practicable and remains confident that a robust project awaits to be delivered for the benefit of shareholders and stakeholders. At this point the Company is not planning to finalise the DFS until DPIE makes a recommendation on the project. The Company also continues to work with the local and surrounding communities to ensure opportunities and impacts presented by the project development are communicated and mitigated where practicable.

Regis continued its intensive exploration and resource definition activities across the Duketon Greenstone Belt during the quarter for a total of 45,872 metres of drilling (Table 5).

The Regis bi-annual exploration update will be produced shortly and will provide more detailed information on the outcomes and exciting targets being uncovered by our exploration activity.

	Drill Type	FY21Q1	FY21Q2	FY21Q3	FY21Q4	FY22Q1
	AC	0	1,156	0	6,610	0
ResourceDefinition	RC	17,929	25,510	14,145	29,321	20,811
Drilling	DD/RCD	6,981	484	0	0	0
(m)	Total	24,910	27,150	14,145	35,931	20,811
	AC	13,887	9,383	30,029	34,502	12,505
Exploration	RC	6,258	3,142	7,218	2,954	2,358
Drilling(m)	DD/RCD	8,690	9,663	9,958	12,494	10,198
	Total	28,835	22,188	47,205	49,950	25,061
Rock chipSamples		10,974	13	25	0	0

Table 5: Historic exploration activity in both Resource Definition and Exploration activity.

COMPETENT PERSON STATEMENT

The information in this report that relates to exploration results is based on and fairly represents information and supporting documentation that has been compiled by Mr Kevin Joyce who is a member of the Australian Institute of Geoscientists. Mr Joyce 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 2012 edition of the 'Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Joyce is a 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.

JORC 2012 Mineral Resource and Ore Reserves

Regis confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the definition of the Mineral Resource and Ore Reserves in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcements.

FORWARD LOOKING STATEMENTS

This ASX announcement may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, Reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Regis Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast.

CORPORATE DIRECTORY

**Regis Resources Ltd (**ACN 009 174 761) Registered Office Second Floor, 516 Hay Street Subiaco, WA Australia 6008 Tel +618 9442 2200

Website www.regisresources.com Email enquiries@regisresources.com

Directors

Mr James Mactier (Non-Executive Chairman) Mr Jim Beyer (Managing Director) Mrs Fiona Morgan (Non-Executive Director) Mr Steve Scudamore (Non-Executive Director) Mrs Lynda Burnett (Non-Executive Director) Mr Russell Barwick (Non-Executive Director)

Company Secretary Ms Elena Macrides

Share Registry

Computershare Ltd GPO Box D182 Perth WA 6840

Shareholder Enquiries: 1300 557 010 (local) +613 9415 4000 (international)

ASX Listed Securities (as at 30 September 2021)

Security	Code	No. Quoted
Ordinary Shares	RRL	754,716,421

Quarterly Results Conference Call

Regis will host an analysts/institutions teleconference at midday AEST (9:00am WST) on Tuesday 26 July 2021. To listen to the call please go to the following link:

https://webcast.openbriefing.com/8012/

A recording will be posted on the Company's website following the call. To listen go to the following link:

https://regisresources.com.au/investor-centre/webcasts/

APPENDIX 1 JORC Code, 2012 Edition – Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Samplingtechniques	Natureandqualityofsampling (e.g. cut channels,random chips, or specificspecialised industry standardmeasurementtoolsappropriate to the mineralsunder investigation, such asdown hole gamma sondes,orhandheldXRFinstruments,etc.).Theseexamplesshouldnotbetaken as limiting the broadmeaning of sampling.	The reported results are from drill core samples by standard diamond drillingtechniques.Surface diamond drilling was completed by Westralian Diamond Drilling utilisingan Austex1500 drill rig to drill acquire PQ, HQ, or NQ-sized (standard tube) drillcore.Holes were typically angled between -56° to -75° towards 261° to 290°azimuthto drill perpendicular to the interpreted strike of mineralisation.
	Includereferencetomeasures taken to ensuresamplerepresentivityandthe appropriate calibrationof any measurement tools orsystems used.	Drill core was orientated, measured and compared to the recorded drill rundistances to determine percentage recovery.Certified standards and blanks were inserted at every 25th sampleto monitorpreparation and analysis at the laboratory.Laboratorystandards,blanksandduplicateswereinserted/collectedapproximately every 15th sample to monitoranalytical precision and accuracy.Results of the QAQC measures are considered acceptable.
	Aspects of the determinationof mineralisation that areMaterialtothePublicReport.Incaseswhere'industry standard' work hasbeen done this would berelativelysimple(e.g.'reverse circulation drillingwas used to obtain 1 msamples from which 3 kg waspulverised to produce a 30 gcharge for fire assay'). Inothercases,moreexplanationmayberequired,suchaswherethere is coarse gold that hasinherent sampling problems.Unusualcommoditiesormineralisationtypes(e.g.submarinenodules)maywarrantdisclosureofdetailed information.	Diamond drilling was completed using industry standard techniques.Drill core was cut in half along the long core axis and half core sampled togeological intervals. Downhole sample length varied between 0.21m to 1.84min gold mineralized zones.Samples were dispatched to Bureau Veritas Laboratory (Perth) for preparationand analysis for gold.At the laboratory, samples were dried, crushed (-10mm) and pulverised tonominal 85% passing 75µm. Samples were analysed for gold by 50g Fire AssayAAS finish.
Drillingtechniques	Drill type (e.g. core, reversecirculation,open-holehammer, rotary air blast,auger, Bangka, sonic, etc.)anddetails(e.g.corediameter, triple or standard	Surface diamond drilling was completed by Westralian Diamond Drilling utilisingan Austex1500 drill rig to drill acquire PQ, HQ, or NQ-sized (standard tube) drillcore.The reported results are from NQ-sized drill core.Core is routinely orientated using a REFLEX ACT III tool.

Criteria	JORC Code explanation	Commentary
	tube, depth of diamond tails,face-sampling bit or othertype,whethercoreisoriented and if so, by whatmethod, etc.).
Drill samplerecovery	Method of recording andassessingcoreandchipsamplerecoveriesandresults assessed.Measures taken to maximisesample recovery and ensurerepresentative nature of thesamples.Whether a relationship existsbetweensamplerecovery	The target mineralised zones are located in competent fresh rock.Drill core was orientated, measured and compared to the recorded drill rundistances to determine percentage recovery. >99% recovery was recordedthrough the mineralised zones.No sample bias is expected.
	andgradeandwhethersamplebiasmayhaveoccurred due to preferentialloss/gainoffine/coarsematerial.
Logging	Whethercoreandchipsampleshavebeengeologicallyandgeotechnically logged to alevel of detail to supportappropriateMineralResource estimation, miningstudiesandmetallurgicalstudies.Whetherloggingisqualitative or quantitative innature. Core (or costean,channel, etc.) photography.Thetotallengthandpercentage of the relevantintersections logged.	Lithology, alteration, veining, mineralisation and geotechnical information werelogged using a standardised logging system and the data saved in a securedatabase.All logging is qualitative except for magnetic susceptibility and geotechnicalmeasurements. Wet and dry photographs were taken of each core tray.All drill holes are logged in full.
Subsamplingtechniquesand samplepreparation	If core, whether cut or sawnand whether quarter, half orall core taken.If non-core, whether riffled,tube sampled, rotary split,etc. and whether sampledwet or dry.	Drill core was cut in half along the long core axis and half core sampled togeological intervals, ensuring the same side of the core was sampled for eachinterval. The other half of core was retained in core trays on site.

Criteria	JORC Code explanation	Commentary
	For all sample types, thenature,qualityandappropriatenessofthesamplepreparationtechnique.Quality control proceduresadopted for all sub-samplingstagestomaximiserepresentivity of samples.	Samples were dispatched to Bureau Veritas Laboratory (Perth) for preparationand analysis for gold.At the laboratory, samples were dried, crushed (-10mm) and pulverised tonominal 85% passing 75µm.Sample sizes (1kg to 3kg) are considered appropriate for the mineralisation style(hypogene gold associated with shearing and or veining), the width andcontinuity of the intersections, the sampling methodology, and potential coarsegold variability.
	Measures taken to ensurethatthesamplingisrepresentative of the in-situmaterial collected, includingfor instance results for fieldduplicate/second-halfsampling.Whether sample sizes areappropriate to the grain sizeofthematerialbeingsampled.	Lab pulp duplicates were routinely done to monitor sub-sampling quality.Precision and accuracy is considered acceptable for the style of mineralisationsampled.
Quality of	Thenature,qualityand	All gold assaying was completed by a certified external laboratory (Bureau
assay dataand	appropriatenessoftheassayingandlaboratory	Veritas - Perth).
laboratorytests	proceduresusedandwhether the technique is	Analysis for gold was by 50g Fire Assay (AAS finish). Analytical detection limit is0.01ppm. Fire assay is considered a total assay technique.
	considered partial or total.Forgeophysicaltools,	Apart from magnetic susceptibility in targeted zones, no other geophysicalmeasurements were routinely made.
	spectrometers,handheldXRF instruments, etc., the	XRF geochemical data was collected to aid logging and estimate pathfinderelement abundance. The XRF data is not reported.
	parametersusedindeterminingtheanalysisincluding instrument makeand model, reading times,calibrations factors applied	XRF geochemical data was collected using an Olympus Vanta Portable XRF.Reading times were 10 secs per beam using the geochem 3 beam method. Theunit was calibrated twice per day. Standards were run every 50th sample,duplicates were run on the 25th and 75th samples.
	and their derivation, etcNature of quality control	Certified Reference Material (CRM or standards) and blanks were inserted every25th sample.
	proceduresadopted(e.g.standards,blanks,	Field duplicates were not collected from the diamond core, i.e. other half of cutcore, have not been routinely assayed.
	duplicates,externallaboratorychecks)and	Lab pulp duplicates were routinely done to monitor sub-sampling quality.
	whether acceptable levels ofaccuracy (i.e. lack of bias)andprecisionhavebeenestablished.	Precision and accuracy is considered acceptable for the style of mineralisationsampled.

Criteria	JORC Code explanation	Commentary
Verificationof samplingandassaying	The verification of significantintersectionsbyeitherindependent or alternativecompany personnel.The use of twinned holes.Documentation of primarydata, data entry procedures,dataverification,datastorage(physicalandelectronic) protocols.	Significant intersections were calculated by the database administrator andinternally reviewed by company personnel. The intersections were notindependently verified.No twinning of holes was completed.All geological and field data is digitally captured in Logchief software using astandardised logging and sample protocol. Data is validated and uploadeddirectly to a secure Datashed database.There were no adjustments to assay data.
	Discuss any adjustment toassay data.
Location ofdata points	Accuracyandqualityofsurveys used to locate drillholes (collar and down-holesurveys),trenches,mineworkings and other locationsused in Mineral Resourceestimation.Specificationofthegridsystem used.Qualityandadequacyoftopographic control.	Drill hole collars were picked up by site-based surveyors using Trimble RTK GPScalibrated to a local base station (expected accuracy of 20mm).Holes were surveyed for downhole deviation at nominal 30m intervals down thehole. Downhole survey was measured using either a Reflex EZ-Shot DownholeSurvey Instrument or North Seeking Gyro.All location data is reported in MGA Zone 51 (GDA 94) grid. Any local gridconversions are performed in RRLs Datashed database.The topographic surface for all projects were derived from a combination of theprimary drill hole pickups and the pre-existing photogrammetric contouring.Topographic control is considered to be high quality.
Dataspacing anddistribution	Data spacing for reporting ofExploration Results.Whether the data spacingand distribution is sufficientto establish the degree ofgeological and gradecontinuity appropriate forthe Mineral Resource andOre Reserve estimationprocedure(s) andclassifications applied.Whether samplecompositing has beenapplied.	The reported drill holes at Garden Well are nominally spaced to intersectmineralisation on a 40m x 40m spaced grid.The reported results have not been utilised to estimate or classify any mineralresources. However, the data spacing and distribution is considered sufficient todemonstrate spatial and grade continuity of the mineralised domains.Sample compositing has not been applied.

Criteria	JORC Code explanation	Commentary
Orientationof data inrelation togeologicalstructure	Whether the orientation ofsampling achieves unbiasedsamplingofpossiblestructures and the extent towhichthisisknown,considering the deposit type.If the relationship betweenthe drilling orientation andtheorientationofkeymineralisedstructuresisconsideredtohaveintroduced a sampling bias,this should be assessed andreported if material.	Mineralisation at Garden Well dips approximately -65 to the east. Drillorientation is generally perpendicular to the interpreted strike and dip of themineralisation.It is believed that drilling orientation has not introduced a sampling bias.
Samplesecurity	Themeasurestakentoensure sample security.	Samples are securely stored onsite prior to delivery to Perth laboratories viacontract freight transport. Chain of custody consignment notes and samplesubmission forms are sent with the samples.
Audits orreviews	The results of any audits orreviewsofsamplingtechniques and data.	No external audits have been completed.

APPENDIX 1 Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Section 2 contains relevant data on projects and prospects discussed in the main body text of the March 2021 Quarterly Report, or those included below and considered to be material.

Criteria	JORC Code explanation	Commentary
Mineraltenementand landtenurestatus	Type, reference name/number, locationand ownership including agreements ormaterial issues with third parties such asjoint ventures, partnerships, overridingroyalties, native title interests, historicalsites, wilderness or national park andenvironmental settings.	The Garden Well gold deposit is located on M38/1249, M38/1250,M38/283. Current registered holders of the tenements are:M38/1249 Regis Resources Ltd; M38/1250 and M38/283 RegisResources Ltd and Duketon Resources Pty Ltd (100% subsidiary ofRegis Resources Ltd); 2% Royalty to Franco Nevada. NormalWestern Australian state royalties apply. There are no registeredNative Title Claims.
	The security of the tenure held at the timeofreportingalongwithanyknownimpediments to obtaining a licence tooperate in the area.
Explorationdone byotherparties	Acknowledgmentandappraisalofexploration by other parties.	The Garden Well gold deposit was discovered by Regis Resources in2010. Substantial resource drilling and detailed mining studies havebeen undertaken, and the deposit has been continuously mined byopen pit techniques since 2012.
Geology	Deposit type, geological setting and style ofmineralisation.	At Garden Well, gold is hosted in a moderate east dippingapproximately N-S trending shear zone. Gold mineralisation withinmafic and ultramafic lithologies is associated with quartz, fuchsite,sericite, carbonate and sulphide alteration. Gold mineralisationwithin chert, shale and BIF lithologies is associated with brecciatedzones hosting elevated sulphides and quartz veins.

Criteria	JORC Code explanation	Commentary
Drill holeInformation	A summary of all information material totheunderstandingoftheexplorationresultsincludingatabulationofthefollowing information for all Material drillholes:easting and northing of the drill holecollar	Drill hole information including collar location and drill direction aredocumented in Appendix 1 and the body of the announcement.
	elevation or RL (Reduced Level –elevation above sea level in metres) ofthe drill hole collar
	dip and azimuth of the hole
	down hole length and interceptiondepth
	hole length.
	If the exclusion of this information isjustified on the basis that the information isnot Material and this exclusion does notdetract from the understanding of thereport,theCompetentPersonshouldclearly explain why this is the case.
Dataaggregationmethods	In reporting Exploration Results, weightingaveraging techniques, maximum and/orminimum grade truncations (e.g. cutting ofhigh grades) and cut-off grades are usuallyMaterial and should be stated.	The reported intersections are length weighted average gradeintervals calculated using a minimum 2.0 g/t Au cut off with amaximum of 2m consecutive internal waste within the interval.No upper gold cut off has been applied.No metal equivalents are reported.
	Where aggregate intercepts incorporateshort lengths of high-grade results andlonger lengths of low-grade results, theprocedureusedforsuchaggregationshouldbestatedandsometypicalexamples of such aggregations should beshown in detail.
	The assumptions used for any reporting ofmetal equivalent values should be clearlystated.
Relationshipbetweenmineralisation widthsandinterceptlengths	Theserelationshipsareparticularlyimportant in the reporting of ExplorationResults.	The Garden Well gold deposit was drilled at -56° to -75° towards261° to 290°azimuth to drill perpendicular to the interpreted strikeof mineralisation. The mineralised zone is moderately east dipping,andtheintersectionsreportedgenerallyapproximatetheinterpreted true-width.
	If the geometry of the mineralisation withrespect to the drill hole angle is known, itsnature should be reported.
	If it is not known and only the down holelengths are reported, there should be aclear statement to this effect (e.g. 'downhole length, true width not known').
Diagrams	Appropriatemapsandsections(withscales) and tabulations of intercepts shouldbe included for any significant discoverybeing reported. These should include, butnot be limited to a plan view of drill hole	Refer to the body of the announcement.

Criteria	JORC Code explanation	Commentary
	collar locations and appropriate sectionalviews.
Balancedreporting	Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low andhigh grades and/or widths should bepracticed to avoid misleading reporting ofExploration Results.	The current phase of drilling at Garden Well Main has beencomprehensively reported in this announcement.
Othersubstantiveexplorationdata	Other exploration data, if meaningful andmaterial, should be reported including (butnot limited to): geological observations;geophysical survey results; geochemicalsurvey results; bulk samples – size andmethod of treatment; metallurgical testresults;bulkdensity,groundwater,geotechnicalandrockcharacteristics;potential deleterious or contaminatingsubstances.	There is no other information material to the reported results.
Furtherwork	The nature and scale of planned furtherwork (e.g. tests for lateral extensions ordepth extensions or large-scale step-outdrilling).	Infill drilling will occur where appropriate, and extensional drillingwill be conducted along strike for additional resources.
	Diagrams clearly highlighting the areas ofpossible extensions, including the maingeologicalinterpretationsandfuturedrilling areas, provided this information isnot commercially sensitive.	See diagrams in main text

APPENDIX 1 – Exploration Results

Hole ID	Project	Y	X	Z	Dip	Azimuth	TotalDepth(m)	From(m)	To(m)	Interval(m)	Auppm
RRLGDDD187	Garden Well	6913026	437348	497.8	-57	264	546.7	501	505.4	4.4	3.72
RRLGDDD188	Garden Well	6912621	437328	494.2	-57	290	609.7	479.23	488.8	9.57	4.43
RRLGDDD189W1	Garden Well	6912840	437314	496.9	-66	246	543.9	430	433	3	3.51
RRLGDDD189W1	Garden Well							440	444	4	3.28
RRLGDDD190	Garden Well	6912658	437328	494.5	-56	284	534.6	404	410	6	2.32
RRLGDDD191	Garden Well	6912658	437331	494.4	-60	289	561.7	431.36	441	9.64	3.65
RRLGDDD191	Garden Well							493.64	495	1.36	8.5
RRLGDDD192B	Garden Well	6912655	437337	494.4	-66	288	591.8	436.81	443.12	6.31	3.25
RRLGDDD192B	Garden Well							457.93	464.13	6.2	8.7
RRLGDDD192BW1	Garden Well	6912655	437337	494.4	-66	288	498.8	417	418.09	1.09	20.1
RRLGDDD192BW1	Garden Well							426.05	430	3.95	4.58
RRLGDDD192BW1	Garden Well							432.1	433	0.9	23.8
RRLGDDD193	Garden Well	6912908	437358	498.2	-58	272	552.3	430	433.44	3.44	5.76
RRLGDDD193	Garden Well							473.14	476.16	3.02	6.23
RRLGDDD193	Garden Well							485.66	496.42	10.76	2.26
RRLGDDD194	Garden Well	6912621	437325	494.2	-69	263	531.7	395.93	403.12	7.19	3.12
RRLGDDD194	Garden Well							406.8	411.23	4.43	3.79
RRLGDDD194	Garden Well							442	448	6	2.98
RRLGDDD195	Garden Well	6912620	437334	493.9	-75	261	600.7	482.26	489.32	7.06	2.85
RRLGDDD195	Garden Well							492.44	516.93	24.49	3.16
RRLGDDD195W1	Garden Well	6912620	437334	493.9	-75	262	588.9	460	468.9	8.9	3.22
RRLGDDD196	Garden Well	6912746	437369	496.4	-53	262	546.6	467	471	4	2.52
RRLGDDD197	Garden Well	6912746	437372	496.4	-58	262	570.8	434.07	438.51	4.44	2.78
RRLGDDD197	Garden Well							481	489	8	2.11