Regulus Announces Extension of Warrants

Not for distribution to U.S. news wire services or dissemination in the United States.

VANCOUVER, British Columbia, Dec. 10, 2021 (GLOBE NEWSWIRE) -- Regulus Resources Inc. ("Regulus" or the "Company", TSX-V: REG, OTCQX: RGLSF) proposes to extend the expiry date of 5,425,125 common share purchase warrants (the "Warrants") that were issued pursuant to the Company’s December 27, 2019 unit offerings. The Warrants will remain exercisable into common shares of the Company at an exercise price of $1.70 per common share. The Company will seek acceptance from the TSX Venture Exchange (the "Exchange") to extend the term of the Warrants for an additional twelve months to December 27, 2022. All other terms of the Warrants will remain the same.

The proposed amendment to extend the expiry date of the Warrants is subject to Exchange acceptance.

For further information, please contact:

Regulus Resources Inc.
Laura Brangwin
Investor Relations Manager
Phone: +1 646 583-1404
Email: laura.brangwin@regulusresources.com

About Regulus Resources Inc. and the AntaKori Project

Regulus Resources Inc. 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, dated February 22, 2019, see news release dated March 1, 2019). Mineralization remains open in most directions.

Cautionary Note Regarding Forward Looking Statements. This news release contains certain forward-looking statements, including statements regarding the extension of the expiry date of the Warrants. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include receipt of regulatory approvals for the extension. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.