Mr. John Black reports

REGULUS ANNOUNCES COMPLETION OF MINERAL RESOURCE ESTIMATE FOR INTEGRATED COIMOLACHE SULPHIDE/ANTAKORI COPPER-GOLD PROJECT

Regulus Resources Inc., in collaboration with Compania Minera Coimolache SA, have completed the first phase of the collaboration agreement previously announced on July 25, 2024. The agreement was designed to evaluate the viability of an integrated Coimolache Sulphides/AntaKori copper-gold project (integrated sulphide project), starting with the completion of a mineral resource estimate (MRE), with the option, upon mutual agreement of the parties following the completion of an MRE, to complete a preliminary economic assessment (PEA). The results of the MRE and PEA (should the parties agree to move forward) can only be publicly released upon mutual agreement of the parties and regulatory approvals.

John Black, chief executive officer of Regulus, commented: "The completion of the integrated resource estimate constitutes a milestone for both Regulus and our neighbours. This is the first fully unconstrained resource estimate created by a third party, removing property boundaries and focusing solely on mineralization. While we don't anticipate the report being made public, the completion of the study still represents a significant step forward for the region as it allows all parties to understand the value that can be unlocked in the district via collaboration. While we decide next steps regarding our agreement with Coimolache, we continue to derisk the project on the ground via advancing our community programs to set the stage for future development."

The MRE was completed by SRK Peru, which has developed an internal report that has been distributed to the parties. The company will provide no further updates regarding discussions with Coimolache until decisions are made regarding the MRE and PEA. The company cannot provide a timeline for a decision at this time.

The AntaKori project

The AntaKori project, located in Cajamarca, Peru, 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. The AntaKori project is immediately adjacent to and interfingered with mineral concessions owned by Coimolache. The last mineral resource estimate on the AntaKori project was completed under a now-expired agreement with Coimolache, whereby Regulus could use a portion (but not all) of the Coimolache drill database to develop a partially integrated resource estimate, but only report resources from the AntaKori claims. A total of 71,762.04 metres of drilling (historical plus Regulus) has been completed on the AntaKori project from 1997 to 2022. Since the 2019 AntaKori resource estimate was completed, Regulus has completed 31,666.99 metres of drilling on the AntaKori project.

Qualified person

The scientific and technical data contained in this news release pertaining to the 2019 AntaKori mineral resource estimate have been reviewed and approved by Dr. Kevin B. Heather, chief geological officer, FAusIMM, who serves as the qualified person under the definition of National Instrument 43-101.

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 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.

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