REGIS RESOURCES LIMITED — Investor Presentation 2012

Nov 8, 2012

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BUILDING A QUALITY AUSTRALIAN GOLD BUSINESS

A N N U A L G E N E R A L M E E T I N G 9 N O V E M B E R 2 0 1 2

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DISCLAIMER & COMPETENT PERSON 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 technical information in this presentation 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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ANOTHER BUSY YEAR

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• Moolart Well gold production

• 105,413 ounces at cash cost of $512/oz

• Operating cash-flow $102m

• • Profit before tax $75m

• Completed construction of Garden Well

• $113m construction & $35m pre production mining

• On time and budget AND all out of operating cashflow

• First gold pour at Garden Well 4 Sept 2012

• Exploration success at Garden Well & Rosemont

• Moving towards development of Rosemont

• Long lead items –crushers, mill and camp committed

• • Construction to start in the March 2013 quarter

• Acquired McPhillamys project in NSW

• Included in the ASX 100

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THE YEAR IN THE MARKETS

		2011	2012
•	Gold price (USD)	$1,769	$1,719	-3%
•	Gold price (AUD)	$1,744	$1,657	-5%
•	ASX All Ords	4,406	4,535	+3%
•	ASX 100	3,543	3,708	+5%
•	ASX Gold Index	7,378	5,711	-23%
•	RRL Share Price	$3.33	$5.40	+62%
•	RRL Market Cap	$1.45bn	$2.44bn	+68%

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GLOBAL GOLD PRODUCTION AND CASH COSTS

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2002 – 2012 Gold price $380 → $1,600 Production → 2,500t 2,700t Why?? Lack of discoveries Costs of production $200/oz → $800/oz What is real cost? CAPEX explosion

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AUSTRALIAN GOLD INDUSTRY COST CURVE JUNE 2012 QUARTER

(WITH 1[ST] , 2[ND] AND 3[RD] QUARTILE)

$1,030/oz $900/oz $600/oz

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CAPITAL COSTS RRL “IN HOUSE” DEVELOPMENT ADVANTAGE

PROJECT	YEAR	REGIS CAPITAL COST ($/oz of annual prodn)	GLOBAL INDUSTRY CAPITAL COST ($/oz of annual prodn)	Regis/ Industry
Moolart Well	2010	670	1,883	36%
Garden Well	2011/12	560	2,289	24%

Source of industry costs: UBS

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PURELY AUSTRALIAN GOLD MINER

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• Projects 100% Regis owned

• • 9.5Moz of resources[1,2 ]

• • 2.8Moz of reserves[1]

• • 2 operating mines

• • 1 development project

• • 100kozpa ramping to >400koz

• • Strong growth pipeline

• • Exclusively in Australia – low political risk

Note 1 – full breakdown of these reserves and resources in accordance with JORC is set out in Appendix 1 & 2 to this presentation

Note 2 – Includes McPhillamys - acquisition announced 9/8/12 – subject to completion. 2.5Moz resource included

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DUKETON PROJECT OVERVIEW

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• 350km north-north east of Kalgoorlie

• • 100% Regis owned

• 303 granted leases

• • 1,570 km[2 ] of ground

• • 7.0Moz of resources[1 ]

• • 2.8Moz of reserves[1]

Note 1 – full breakdown of these reserves and resources in accordance with JORC is set out in Appendix 1 & 2 to this presentation

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	ORE RESERVES1
		Total	Forecast LOM Opex (A$/oz)2 Status
		MT g/t Koz
	Garden Well	35.3 1.46 1,660	555 Operating
	Moolart Well
	- Laterites	6.8 1.31 285	Operating
	- Oxide	4.2 1.82 191	Operating
	MW Total	11.0 1.36 476	550
	Erlistoun	2.7 2.36 203	608 Mine plan
	Rosemont	8.7 1.73 487	628 DFS
	Total	57.7 1.53 2,826
	Note: 1.full breakdown in accordance with JORC in Appendix 1. 2. before royalties

Note: 1. full breakdown in accordance with JORC in Appendix 1. 2. before royalties

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GOLD PRODUCTION OUTLOOK

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500
400
300
200
100
-
2011/12 2012/13 2013/14 2014/15 2015/16
Moolart Well Garden Well Erlistoun - GW displaced tonnes Erlistoun - extra grade Rosemont
Thousands
Gold Production (ounces)
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PROJECT STATUS

• Moolart Well – producing

• Garden Well – construction complete, started production in Sept 12

• Rosemont – construction commencing Mar13 qtr

• Erlistoun – satellite mine due to commence FY2014

Significant organic production growth

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MOOLART WELL

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• Plant commissioned August 2010

• Sept12 quarter 27,414 oz at A$503/oz[1 ]

• Mill throughput >25% above design

• ≈ 1yr ore supply grade controlled in pit

• Negligible ongoing capex Reliable, low cost production generating strong cash-flow

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30,000 900
25,000 800
20,000 700
15,000 600
10,000 500
5,000 400
0 300
Moolart Well gold production (oz)
Moolart Well cash cost - pre royalties (A$/oz)
13 Australian industry average cash cost (A$/oz)
Cash cost (A$/oz)
Quarterly Production (ounces)
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	Stage Mine type Mineralisation	Producing Open pit Laterite & oxide
	Plant type	Crush, grind, CIL
	Throughput	2.5mtpa
	Average grade Recovery FY13 production FY13 cash cost Mine life Ore reserves	1.4g/t gold >92% 95 – 105koz A$540 – 590/oz1 5 years 476koz2
	Mineral resources	2.7Moz2

Notes

1 pre royalty cash cost. 2 full breakdown in Appendix 1 & 2 3. Detailed operating stats by quarter for MW in Appendix 3

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MOOLART WELL OPERATIONS

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GARDEN WELL

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• Virgin discovery by Regis in late 2009

• • 30km south of Moolart Well

• • Capex completed in line with $109m budget

• • Production commenced in Sept 12qtr - 17koz

• • Early indications – throughput will exceed design

• • Excellent metallurgical & physical characteristics

• • 2013 guidance 220-240koz at $400-450/oz[1]

• • LOM production >200kozpa at A$555/oz[1 ]

• Major gold discovery moving to long term, low cost gold mine

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Stage	Construction
Mine type	Open pit
Mineralisation	Mixed ultramafic- sediment shear
Plant type	Crush, grind, CIL
Throughput	4mtpa nameplate
Reserve grade	1.46g/t gold
Recovery	95%2
FY13 production	220-240koz2
FY13 cash cost	A$400-450/oz12
Mine life	9 years
Ore reserves	1.66Moz3
Mineral resources	2.56Moz3

Notes 1 forecast pre royalty cash cost. 2 DFS forecast 3. Full breakdown in Appendix 1 & 2

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GARDEN WELL OPERATIONS

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GARDEN WELL OPERATIONS

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GARDEN WELL OPERATIONS

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GARDEN WELL OPERATIONS

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GARDEN WELL OPERATIONS

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GARDEN WELL OPERATIONS

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GARDEN WELL RESOURCE EXTENSION DRILLING

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Strong results 520m south of current reserve envelope Resource increase & extension of pit further to south (Mar13 qtr)

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ROSEMONT

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• 9 kilometres north west of Garden Well

• DFS underway on crush & grind at pit and pump ore slurry to Garden Well . Target: Construction Dec12 qtr ≈ A$40m capex Production Sept13 qtr - 80kozpa

• Strong exploration results north of pit – resource and reserve recalcs pending.

W:O ratio 5.61

Stage	DFS
Mine type	Open pit
Mineralisation	Quartz hosted stockwork
Plant type	Crush, grind, pump
Throughput	1.5mtpa
Reserve grade	1.73g/t gold
Recovery	95%
LOM production	80kozpa
LOM cash cost	A$628/oz1
Mine life	6 years
Ore reserves	487koz2
Mineral resources	1.08Moz2
Notes 1 forecast pre royalty cash cost. 2 full breakdown in Appendix 1 & 2

Notes

1 forecast pre royalty cash cost. 2 full breakdown in Appendix 1 & 2

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REGIONAL EXPLORATION

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• Targeting areas:

• Max 30m of paleochannel cover

• • No previous effective drilling

• Numerous drill targets.

• Regional drilling budget • 90,000 metres / $5 million pa

Excellent scope for further discovery ► value - 3 mills in district

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MCPHILLAMYS GOLD PROJECT

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• Acquisition announced 9/8/12 – subject to completion

• • 250km west of Sydney

• • 35km from each of Orange & Bathurst

• • 3 granted leases

• • 420 km[2 ] of ELs

• • Project covered by freehold farmland (some to be acquired by Regis)

• • 2.5Moz of resources

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GOLD RESOURCES[1 ]

Resource Tonnes Gold Ounces Category (millions) Grade (000’s) (g/t) Indicated 41.3 1.27 1,685 Inferred 16.1 1.57 815 Total 57.4 1.36 2,500

Note: 1. full breakdown in accordance with JORC in Appendix 1. Resource quoted at a 0.5g/t lower cutoff.

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GEOLOGY & RESOURCE

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• Resource hosted in dacite rich volcanaclastics

• Mineralisation defined to > 600m below surface

• Past drilling mainly focussed on defining a bulk underground position – not successful

• Less drilling aimed at defining near surface open cut resources – Regis opportunity

• Drill density averages 100m x 100m

• Resource not advanced enough for a definitive pit optimisation

• 22,000m of RC/DD drilling required

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METALLURGY

• Deposit is partially poly-metallic with zones of Cu, Hg and gold tellurides.

• Sulphides and tellurides impact gold recovery.

• Early stage testwork confirms:

• 85% recovery in medium to course grind

• High gravity gold – average 36% (P80 of 150µm)

• Bond work index 13.3kWh/t - medium-low

• Further testwork and finer grind studies required to improve on early base case.

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INFRASTRUCTURE

• Close to roads:

• Mitchell Hwy 5km & Mid Western Hwy 1.5km

• Rail – 8km from intermodal terminal on main east west rail thoroughfare Sydney-Perth

• Power – range of transmission lines running through & close to project

• Skilled mining labour in

• Orange and Bathurst

• Water – is an issue in NSW,

• will be a major focus of prefeasibility work

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TARGET DEVELOPMENT TIMELINE

	2013	2014	2015	2016	2017
Resource drill-out and reserve estimation
Pre-feasibility studies & other logistics
DFS
Construction & development
Gold production

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TARGET PROJECT

• Open pit mining

• Carbon in Leach processing (as per Duketon)

• Circa 4 million tonnes per annum plant

• 140 – 160kozpa gold production over a minimum 10 year mine life

• Target capex – Regis norm +/- 15%

• Target 2[nd] quartile cash costs

McPhillamys is an excellent medium term development opportunity

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THE YEAR AHEAD

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• Optimise Garden Well operations

• Develop and commence production at Rosemont

• Update reserves and resources – Garden Well and Rosemont

• Resource drilling and maiden reserve at McPhillamys

• Repay bank debt

• Commence dividend payment at end of financial year 2013

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APPENDIX 1 JORC RESERVES 30 JUNE 2012

Project	Proven	Proven	Proven	Probable	Probable	Probable	Total	Total	Total	Cut-off Grade g/t
	MT	grade g/t	gold koz	MT	grade g/t	gold koz	MT	grade g/t	gold koz
Garden Well				35.3	1.46	1,660	35.3	1.46	1,660	0.60
Moolart Well
Laterite	6.1	1.35	263	0.7	0.98	22	6.8	1.31	285	0.50
Oxide, trans & fresh	0.8	1.44	37	3.3	1.41	149	4.1	1.41	186	0.40/ 0.50
Stockpiles	0.1	1.49	5				0.1	1.49	5	0.5
Total Moolart Well	7.0	1.36	305	4.0	1.36	171	11.0	1.36	476
Erlistoun	1.3	2.34	95	1.4	2.37	108	2.7	2.36	203	0.70
Rosemont				8.7	1.73	487	8.7	1.73	487	0.50
Total Reserves	8.3	1.51	400	49.4	1.53	2,426	57.7	1.53	2,826

• Note 1 - 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 RESOURCES 30 JUNE 2012

Project	Measured	Measured	Measured	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total Resources	Total Resources	Total Resources	Cut- off Grade g/t
	MT	g/t	gold koz	MT	g/t	gold koz	MT	g/t	gold koz	MT	g/t	gold koz
Moolart Well
Laterite	6.4	1.35	279	1.0	0.90	29	0.3	0.88	8	7.7	1.28	316	0.50
Oxide/trans	1.1	1.30	48	15.3	0.96	476	23.4	0.78	588	39.8	0.87	1,112	0.40
Fresh				0.3	1.68	14	4.1	1.48	196	4.4	1.49	210	1.00
Low Grade	3.0	0.42	40	17.7	0.48	273	48.5	0.49	767	69.2	0.49	1080	0.3
Stockpiles	0.1	1.49	5							0.1	1.49	5	0.5
Total Moolart Well	10.6	1.08	372	34.3	0.72	792	76.3	0.64	1,559	121.2	0.70	2,723
Garden Well				44.7	1.33	1,914	17.2	1.2	644	61.9	1.29	2,558	0.50
Erlistoun	2.3	1.92	143	3.0	1.88	179				5.3	1.90	322	0.50
Rosemont				14.6	1.68	793	6.7	1.3	285	21.3	1.57	1,078	0.50
Satellite Deposits
Dogbolter							0.9	2.91	87	0.9	2.91	87	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	3.2	2.83	299	3.3	2.87	316
Total	12.9	1.23	515	96.7	1.19	3,695	103.4	0.84	2,787	213.0	1.02	6,997
Regis share												6,975
• Note 1 - Tonnes and Ounces are rounded, rounding errors may occur. • MT = million tonnes, g/t = gold grade in grams per tonne, koz = thousands of ounces

• Note 1 - 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 3 MOOLART WELL QUARTERLY OPERATING STATS

	Sept 11 Quarter	Dec 2011 Quarter	Mar 12 Quarter	Jun 12 Quarter	Sept 12 Quarter
Ore mined (tonnes)	657,919	619,239	598,048	655,101	645,468
Ore milled (tonnes)	636,812	636,058	580,495	636,114	623,864
Grade(g/t)	1.40	1.44	1.28	1.39	1.49
Recovery (%)	92	89	92	92	92
Production(oz)	26,477	26,189	22,005	26,228	27,414
Cash cost (A$/oz)	487	525	545	532	503
Cash cost including royalties(A$/oz)	554	589	599	611	574

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