Mambare Nickel Laterite Project Drilling Results

RNS Number : 2782Z

Regency Mines PLC

13 March 2012

Regency Mines PLC

13 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 the release of the final assay results from the 2011 drilling campaign at the Mambare Nickel Laterite Project in Papua New Guinea.

Highlights include MAM-KK-0095 in Area 1 (Plateau) with 13.45m at 1.36% Nickel and 0.14% Cobalt from 11.00m, including 7.55m at 1.71% Nickel 0.19% Cobalt from 15.65m, and 2.20m from 21.00m at 2.25% Nickel and 0.09% Cobalt. MAM-KK-0089A, also in Area 1 returned 17.17m at 1.22% Nickel 0.07% Cobalt from 6.68m, including 6.25m at 1.66% Nickel 0.03% Cobalt from 17.60m.

Other results in all three areas continue to be in line with the good grade and thickness reported previously.

Mambare Area 1 - Plateau
	Location		Intersection (m)			Grade
Hole ID	Easting	Northing	From	To	Interval	%Ni	%Co
MAM-KK-0086	580996	9030001	13.10	18.90	5.80	0.95	0.19
MAM-KK-0088	581388	9029797	7.70	10.35	2.65	1.31	0.04
MAM-KK-0089	581590	9029809	6.95	13.35	6.40	1.09	0.12
MAM-KK-0089A	581630	9029809	6.68	23.85	17.17	1.22	0.07
including			17.60	23.85	6.25	1.66	0.03
MAM-KK-0095	582400	9029795	11.00	24.45	13.45	1.36	0.14
including			15.65	23.20	7.55	1.71	0.19
including			21.00	23.20	2.20	2.25	0.09
MAM-KK-0097	582005	9029788	6.90	26.20	19.30	0.87	0.07
including			18.45	21.85	3.40	1.32	0.03
MAM-KK-0122A	581590	9029410	14.10	24.60	10.50	0.99	0.10
including			17.25	22.55	5.30	1.21	0.12
MAM-KK-0125	581998	9029022	12.00	33.80	21.80	0.97	0.15
including			24.30	28.21	3.91	1.76	0.45

Mambare Area 2 - North Ridge Extension
	Location		Intersection (m)			Grade
Hole ID	Easting	Northing	From	To	Interval	%Ni	%Co
MAM-KK-0078	582115	9026762	4.00	10.85	6.85	0.84	0.11
and			15.00	16.70	1.70	1.17	0.11
and			18.60	25.95	7.35	0.92	0.04
MAM-KK-0079	581912	9026760	7.00	24.73	17.73	1.00	0.10
including			19.00	22.98	3.98	1.47	0.13

Mambare Area 3 - North Ridge Infill
	Location		Intersection (m)			Grade
Hole ID	Easting	Northing	From	To	Interval	%Ni	%Co
MAM-KK-0103	582001	9025264	6.00	27.40	21.4	0.95	0.08
and			32.40	35.05	2.65	0.93	0.02
MAM-KK-0105	582218	9025264	7.90	22.20	14.30	1.10	0.10
including			16.70	20.95	4.25	1.44	0.10
MAM-KK-0107	582403	9025266	11.10	29.62	18.52	1.00	0.07
including			12.05	14.65	2.60	1.28	0.09
			16.60	19.75	3.15	1.20	0.11
MAM-KK-0112	582202	9026258	4.10	13.95	9.85	0.96	0.05
and			16.70	20.95	4.25	1.04	0.14
MAM-KK-0115	582011	9026163	5.70	20.44	14.74	1.00	0.13
including			12.00	17.00	5.00	1.23	0.13
MAM-KK-0117	582009	9025963	4.30	9.50	5.20	0.90	0.09
and			10.3	11.90	1.60	1.22	0.03
and			15.25	16.85	1.60	1.31	0.04
MAM-KK-0119	582394	9025363	0.90	6.35	5.45	1.03	0.14
and			7.20	9.50	2.30	1.17	0.16

These results were derived from 631 samples from 30 drill holes. Of these 30 holes, 25 including assayed intervals with Nickel grades above 1%, and 27 contained assayed intervals over 0.70% Nickel. Of the 631 samples tested, 289 were above 0.7% Nickel, including 145 above 1% Nickel. The weighted average grade for all samples is 0.67% Nickel and 0.06% 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.

Following the delivery of these final assay results, resource calculation for the initial Mambare resource will commence immediately.

Figure 1 - Mambare 2011 Completed Holes and Test Pits

http://www.rns-pdf.londonstockexchange.com/rns/2782Z_-2012-3-13.pdf

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

http://www.rns-pdf.londonstockexchange.com/rns/2782Z_1-2012-3-13.pdf

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

http://www.rns-pdf.londonstockexchange.com/rns/2782Z_2-2012-3-13.pdf

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

http://www.rns-pdf.londonstockexchange.com/rns/2782Z_3-2012-3-13.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