Mr. John Black reports

REGULUS ANNOUNCES DELIVERY OF PHASE TWO METALLURGICAL SAMPLES TO NUTON LLC, A RIO TINTO VENTURE

Regulus Resources Inc. has delivered samples to Nuton LLC, a Rio Tinto venture, to begin the phase 2 metallurgical program utilizing Nuton's proprietary primary sulphide leaching technologies. The phase one metallurgical program (See July 6, 2023 press release) determined that mineralization from AntaKori was amenable to Nuton's sulphide leaching technologies, while the phase two program is designed to expand on the results from phase one and refine the understanding regarding metallurgical recoveries for various styles of mineralization.

Sample Selection, Preparation, and Methodology

Samples were selected and composited from each of the main mineralization styles at the AntaKori project: high sulphidation, skarn and porphyry. A total of eight composite samples were taken totaling 1,448.7 kg (see Table 1 for sample details and Figures 1 and 2 for sample locations). All samples were taken from Regulus drill hole core stored in the Company's Cajamarca warehouse. The samples were shipped to SGS laboratories in Lima Peru for further sample preparation according to Nuton specifications and protocols, under the supervision of Transmin Metallurgical Consultants S.A.C. Once the samples have been prepared in SGS Lima, a small representative sample split will be sent to Nuton for detailed chemical and mineralogical analyses of each of the composite samples before commencement of the main phase two column test work. Chemical and mineralogical data will be used to predict column test results.

The remaining prepared samples will be shipped from SGS Lima to Nuton's test facilities for phase two test work, which will entail samples being placed in columns with a height of 1 m, each under different controlled Nuton operating conditions. The columns will be continuously monitored and it is expected that once samples are placed into columns, the full results will be available approximately one year later.

Qualified Person

The scientific and technical data contained in this news release pertaining to the AntaKori project has been reviewed and approved by Dr. Kevin B. Heather, Chief Geological Officer, FAusIMM, who serves as the qualified person (QP) under the definition of National Instrument 43-101.

ON BEHALF OF THE REGULUS BOARD(signed) "John Black" John BlackCEO and DirectTel: +1 (604) 685-6800Email: info@regulusresources.com

For further information, please contact:

Regulus Resources Inc.Ben CherringtonTel: +1 347 394 2728Email: ben.cherrington@regulusresources.com

About Nuton

Nuton is an innovative venture that aims to help grow Rio Tinto's copper business. At the core of Nuton is a portfolio of proprietary copper leach related technologies and capability - a product of almost 30 years of research and development. Nuton offers the potential to economically unlock copper from primary sulfide resources worldwide through leaching, achieving market-leading recovery rates, contributing to an increase in copper production from copper bearing waste and tailings, and achieving higher copper recoveries on oxide and transitional material. One of the key differentiators of Nuton is the potential to produce the world's lowest impact copper while having at least one Net Positive impact at each of our deployment sites, across our five pillars: water, energy, land, materials and society.

About Regulus Resources Inc. and the AntaKori Project

Regulus is an international mineral exploration company run by an experienced technical and management team. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The AntaKori project currently hosts a resource with indicated mineral resources of 250 million tonnes with a grade of 0.48 % Cu, 0.29 g/t Au and 7.5 g/t Ag and inferred mineral resources of 267 million tonnes with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag (independent technical report prepared by AMEC Foster Wheeler (Peru) S.A., a Wood company, titled AntaKori Project, Cajamarca Province, Peru, NI 43-101 Technical Report, dated February 22, 2019 - see news release dated March 1, 2019). Mineralization remains open in most directions.

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