Mr. John Black reports

REGULUS GRANTS INCENTIVE STOCK OPTIONS

Regulus Resources Inc. has granted incentive stock options to directors, officers, employees and consultants to purchase up to 5,225,000 common shares at a price of 92 cents per share for five years, pursuant to its stock option plan. These stock options will vest over a two-year period, with one-quarter vesting every six months.

The company currently has 124,508,818 shares issued and outstanding, along with 11,425,000 options (including the options described herein) and nil warrants outstanding.

About Regulus Resources Inc.

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 per cent copper, 0.29 gram per tonne gold and 7.5 grams per tonne silver and inferred mineral resources of 267 million tonnes with a grade of 0.41 per cent copper, 0.26 gram per tonne gold and 7.8 grams per tonne silver (independent technical report prepared by AMEC Foster Wheeler (Peru) SA, a Wood company, titled "AntaKori Project, Cajamarca Province, Peru, NI 43-101 Technical Report," dated Feb. 22, 2019 -- see news release dated March 1, 2019). Mineralization remains open in most directions.