VANCOUVER, British Columbia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Regulus Resources Inc. ("Regulus" or the "Company", TSX-V: REG, OTCQX: RGLSF) is pleased to announce that it has executed an agreement with Compañia de Minas Buenaventura S.A.A. (“Buenaventura”) dated effective August 26, 2024 to acquire the remaining 30% interest in the Colquirrumi claims (see Figure 1) that the Company did not already own (see Company press release dated February 15, 2023).
In exchange for the remaining 30% interest, Regulus has granted Buenaventura a 2% NSR over the Colquirrumi claims, of which 0.5% can be repurchased within 10 years in exchange for US$ 1 Million.
The Colquirrumi claims represent approximately 2,571 hectares of mineral rights in a prolific mining district, adjacent to and interfingered with Regulus’ AntaKori property. Less than 5% of the Colquirrumi claims have been properly explored, however, several encouraging mineralized areas were discovered in Regulus’ previous drill programs.
John Black, Chief Executive Officer of Regulus, commented: “This agreement consolidates a large portion of land that we know to be mineralized. There is also significant strategic value given that any large mining operation in the district would need to incorporate the Colquirrumi claims to expand resources and layback an open pit. By acquiring the remaining 30% of this claims package, we have grown our 100% owned claims package substantially.”
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 Black
CEO and Director
Tel: +1 (604) 685-6800
Email: info@regulusresources.com
For further information, please contact:
Regulus Resources Inc.
Ben Cherrington
Tel: +1 347 394 2728
Email: ben.cherrington@regulusresources.com
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.
For further information on Regulus Resources Inc., please consult our website at www.regulusresources.com.
Forward Looking Information
Certain statements regarding Regulus, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Regulus expects or anticipates will or may occur in the future, including the development of the AntaKori project described herein, and management's assessment of future plans and operations and statements with respect to the completion of the anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Regulus believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and Aldebaran does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1 – Location map of AntaKori Project
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6bf352fe-6509-46a5-99ae-e06e7c678585
Figure 1
