RGM.L Regulatory News (RGM)

This announcement replaces the one released at 7 a.m. on Wednesday 13 June, RNS Number 2364F. This replacement contains the column headings for the first two tables in the announcement that were missing from the previous RNS.

REGENCY MINES PLC

INCREASED JORC Compliant Mineral Resource Estimate for the Mambare Nickel Laterite Project

13 June 2012

Regency Mines plc ("Regency"), the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan announces an updated JORC-compliant Mineral Resource Estimate ("MRE") for the Mambare Nickel Laterite Project in Papua New Guinea.

The combined Indicated and Inferred JORC-compliant Resource is:

162.5 million tonnes grading 0.94% nickel and 0.09% cobalt

1.53 million tonnes of contained nickel

at a 0.60% nickel cut-off grade

67% Increase in contained nickel on April 2012 estimate

Includes significant tonnages of higher grade mineralisation

This compares very favourably with the maiden JORC Resource of 95.1Mt at 0.96% nickel 0.08% cobalt, also using a 0.60% nickel cut-off grade, announced on 25 April 2012.

A detailed breakdown of the MRE is provided below, with the 'South' being from the slopes below the Mambare Plateau and the 'North' representing the plateau;

All tonnes in this announcement are dry metric tonnes.

The increase resulted from the inclusion of all 2008 drilling and 2011 ground-penetrating radar results.

Significant tonnages of higher-grade mineralisation have been identified within the Total Resource, as indicated in the tonnage-grade table below, including 47Mt at 1.23% nickel 0.08% cobalt, using a 1.00% nickel cut-off grade within the 0.60% nickel wireframe.

The tonnage-grade table is an indication only as grade continuity in an Inferred Resource category, which makes up the bulk of the Total Resource, cannot be guaranteed.

The updated MRE was calculated across a combined area of 27.8 km2, including areas drilled in 2008 as well as the more recent 2011 drilling. All 2008 drilling incorporated into this updated Resource is located on the southern slopes below the plateau.

The Mambare Plateau itself, rather than the adjacent slopes, is considered to be the long-term primary exploration target. To date, only 2 km2 of the 80 km2 plateau has been drill tested, highlighting the significant potential of the undrilled plateau area.

Exploration at the Mambare Nickel Laterite Project is being undertaken by Oro Nickel Ltd, a 50:50 Joint Venture of Regency Mines plc and Direct Nickel Pty Ltd. All values are reported on a total (100%) rather than attributable basis.

The MRE was independently calculated by CSA Global (Perth, Australia) ("CSA") based on all results of the 2011 and 2008 exploration campaigns, comprising 7,291 metres from 455 drill holes and 5 test pits, as well as the results of the 2011 Ground Penetrating Radar survey.

Details of the estimation methods, constraints and assumptions, and quality assurance and quality control (QA/QC) for this MRE were provided to Oro Nickel in a detailed report produced by CSA.

Mambare Project Manager, Ian Warden, commented:

"These latest results are exciting. Not only do they build the Mambare Nickel Project towards its potential to be a nickel laterite of world-class scale, the higher-grade zones identified have very positive implications for the economics of a future Mambare operation.

The continuity of mineralisation delineated in the 2008 and 2011 drill areas shows that the laterite mineralisation consistently blankets the underlying ultramafic bedrock, where not eroded by local drainage. The same ultramafic bedrock extends across the whole tenement area. Given the current resource lies mostly on the steeper and more eroded slopes below the plateau, we expect to find similar or better continuity of mineralisation in future drilling across the plateau surface.

The increased Mineral Resource Estimate, and the recent construction completion of Direct Nickel's Stage 1 Test Plant in Perth, which will test a bulk sample from Mambare, are important milestones on the path to bringing Mambare towards development.

Work continues to address future resource definition work, metallurgical testing, and scoping studies.

The Mineral Resource Estimate was completed by Rory Devlin under the direction of Dmitry Pertel and Mick Elias. Rory Devlin, Dmitry Pertel and Mick Elias are employees of CSA Global. Mick Elias, FAusIMM is a Competent Person as defined by the Australasian Code for the Reporting of Exploration Results, Mineral Resources or Ore Reserves (JORC Code 2004 Edition), and as a Qualified Person within the meaning of AIM's Note for Mining and Oil & Gas Companies of June 2009. Mr Elias has reviewed the information contained in this announcement and consents to the inclusion of such information in the form and context in which it appears.

For further information contact:

Updates on the Company's activities are regularly posted on its website, www.regency-mines.com.

Background on the Mambare Nickel Laterite Project

The Mambare project consists of two exploration licences with an aggregate area of over 459 km2, including 255 km2 of granted tenure. The licence areas are situated on the Mambare Plateau, located in the Oro Province of Papua New Guinea.

The Mambare Plateau is situated north and east of the Mambare River and on the south-western boundary of the Ajule-Kajale Range. The Kokoda district is situated to the south of the project area. Recent exploration activity has been undertaken from an exploration camp situated about 8 km north of Kokoda on the southern slopes of the plateau and north of the village of Botue. Access to the project area is via sealed and gravel road from the provincial capital Popondetta to Kokoda. Sealed road also connects Popondetta to the commercial port of Oro Bay.

The Mambare Joint Venture has also secured two exploration licences covering 1,473 km2 in the Mount Lamington and Hydrographers Range volcanic areas, and 191 km2 in the Mt Trafalgar volcanic area. These Exploration Licences have been granted to explore the region for geothermal heat, which could provide cheap, renewable energy for process heat and electrical energy for use in any future mine and DNi Process plant. Exploration will also assess the potential of any other minerals discovered within the application area.

Technical Glossary