Mambare Nickel Laterite Project Drilling Results

RNS Number : 0755Z

Regency Mines PLC

09 March 2012

Regency Mines PLC

9 March 2012

Regency Mines plc ("Regency"), the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan is pleased to announce further positive assay results from recent drilling at the Mambare Nickel Laterite Project in Papua New Guinea.

These recent results continue to support the good grade, thickness and continuity of mineralization encountered in Areas 1 and 3 - the Plateau and the North Ridge Infill.

Highlights of these results from the Plateau (Area 1) include good nickel and cobalt grades encountered in MAM-KK-0121A - 15.40m at 1.20% Nickel 0.09% Cobalt from 8.45m, including 3.70m at 1.78% Nickel, 0.17% Cobalt from 15.00m.

Key results from the North Ridge Infill (Area 3) include 32.90m at 1.00% Nickel 0.06% Cobalt from 2.95m, including 12.67m at 1.40% Nickel, 0.09% Cobalt in MAM-KK-0114.

Mambare Area 1 - Plateau
	Location		Intersection (m)			Grade
Hole ID	Easting	Northing	From	To	Interval	%Ni	%Co
MAM-KK-0094	583006	9030006	19.90	36.82	16.92	0.83	0.08
MAM-KK-0121A	581789	9029409	8.45	23.85	15.40	1.20	0.09
including			15.00	18.70	3.70	1.78	0.17

Mambare Area 3 - North Ridge Infill
	Location		Intersection (m)			Grade
Hole ID	Easting	Northing	From	To	Interval	%Ni	%Co
MAM-KK-0070	582308	9025162	17.42	30.72	13.30	1.12	0.08
and			34.85	40.50	5.65	1.15	0.05
MAM-KK-0101	582208	9025169	1.60	7.00	5.40	1.15	0.05
MAM-KK-0108	582501	9025264	5.40	7.50	2.10	1.24	0.08
and			8.90	18.45	9.55	1.01	0.02
including			8.90	12.20	3.30	1.27	0.03
MAM-KK-0114	582207	9026161	2.95	35.85	32.90	1.00	0.06
including			8.33	21.00	12.67	1.40	0.09

These results were derived from 253 samples from 8 drill holes. 7 of these drill holes included assayed intervals with Nickel grades above 1%, and all 8 contained assayed intervals over 0.70% Nickel. Of the 253 samples tested, 105 were above 0.7% Nickel, including 56 above 1% Nickel. The weighted average grade for all samples is 0.65% Nickel and 0.04% Cobalt.

Sample testing was conducted by Intertek Jakarta, based on 1m samples of NQ core. Assay results are presented on a dry basis. Average grades are calculated by weighted average. A table of the drilling results is given in the appendix to this announcement.

Exploration at the Mambare Nickel Laterite Project is being undertaken by the 50:50 Joint Venture with Sydney based Direct Nickel Pty Ltd. All drilling in the current campaign was completed in December 2011. The final release of assay results is expected within the next week, with resource calculation commencing after this.

Figure 1 - Mambare 2011 Completed Holes and Test Pits

http://www.rns-pdf.londonstockexchange.com/rns/0755Z_-2012-3-9.pdf

Figure 2 - Area 1 (Plateau) Completed 2011 Drill Holes

http://www.rns-pdf.londonstockexchange.com/rns/0755Z_1-2012-3-9.pdf

Figure 3 - Area 2 (North Ridge Extension) Completed 2011 Drill Holes

http://www.rns-pdf.londonstockexchange.com/rns/0755Z_2-2012-3-9.pdf

Figure 4 - Area 3 (North Ridge Infill) Completed 2011 Drill Holes

http://www.rns-pdf.londonstockexchange.com/rns/0755Z_3-2012-3-9.pdf

The information in this announcement that relates to Exploration Results is based on information reviewed and audited by Mr. Ian Warden who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Warden is employed by Direct Nickel Pty Ltd and acts as the Project Manager for the Mambare Joint Venture. He has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration to qualify as a Qualified Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves", and as a Qualified Person within the meaning of AIM's Note for Mining and Oil & Gas Companies of June 2009. Mr. Warden has consented to the inclusion of the information in the form and context in which it appears.

For further information contact:

Andrew Bell	0207 402 4580 or 07766 474849	Regency Mines plc	Chairman

Sandra Spencer	0207 402 4580 or 07757 660 798	Regency Mines plc	Public and Investor Relations

Phil Davies/David Porter	020 7444 0800	Religare Capital Markets	Nominated Adviser

Nick Emerson	01483 413500	Simple Investments Ltd	Broker