Mambare Nickel Laterite Project Drilling Results

RNS Number : 7944W

Regency Mines PLC

03 February 2012

Regency Mines PLC

Dated: 3 February 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 positive assay results from recent drilling at the Mambare Nickel Laterite Project in Papua New Guinea.

Highlights of the assay results include hole MAM-KK-0051 which has recorded the highest nickel grades to date at the project at 3.28% Nickel, 0.12% Cobalt from a 1m interval from 15.95m.

These results confirm the significant grade and tonnage potential of the Plateau (Area 1) zone at Mambare. The Plateau area, never previously drill tested, is an extensive area around 5km by 16km, which is the major target for future exploration, with potential to host one of the world's largest nickel laterites. Assays from the first two holes drilled on the plateau, MAM-KK-0051 and MAM-KK-0041 have both returned positive results.

Continued positive results from the North Ridge Extension (Area 2) zone, north of the 2008 drilling on the lower southern slopes of the plateau, confirms the continuous nature of mineralization along the ridgeline, including zones of up to 22.87m at 1.42% Nickel and 0.06% Cobalt from 7.73m depth identified in hole MAM-KK-0018.

Key results from this batch of sample assays are summarized below:

Mambare Area 1 - Plateau
	Location		Intersection (m)			Grade
Hole ID	Easting	Northing	From	To	Interval	%Ni	%Co
MAM-KK-0051	582010	9029210	10.00	29.40	19.40	1.7	0.06
including			13.35	19.15	5.80	2.79	0.12
			15.95	16.95	1.00	3.28	0.12
MAM-KK-0041	581795	9029205	22.30	25.55	3.25	1.45	0.11

Mambare Area 2 - North Ridge Extension
	Location		Intersection (m)			Grade
Hole ID	Easting	Northing	From	To	Interval	%Ni	%Co
MAM-KK-0018	582213	9026960	7.73	30.60	22.87	1.40	0.06
including			16.02	25.35	9.33	2.04	0.05
MAM-KK-0019	582310	9026962	6.10	28.00	21.90	1.14	0.10
including			15.00	20.05	5.05	1.98	0.08
MAM-KK-0021	582718	9026963	4.15	18.00	13.85	0.78	0.09
MAM-KK-0031	581812	9027375	18.95	23.00	4.05	1.33	0.06
and			26.00	30.55	4.55	0.98	0.03
MAM-KK-0032	582011	9027360	10.00	23.90	13.90	0.86	0.05
including			16.45	19.60	3.15	1.17	0.09

These results were derived from 228 samples from 8 drill holes. All 8 drill holes included assayed intervals with Nickel grades above 1%. Of the 228 samples tested, 110 were above 0.7% Nickel, including 63 above 1% Nickel.

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, and further assay results are expected in the coming weeks.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/7944W_-2012-2-3.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 Competent 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