VANCOUVER, British Columbia, April 03, 2017 (GLOBE NEWSWIRE) -- Regulus Resources Inc. ("Regulus") (TSX-V:REG) is very pleased to announce that its wholly owned Peruvian subsidiary, Southern Legacy Peru S.A.C., has finalized the execution of a Definitive Agreement with Compañía Minera Colquirrumi S.A. (“Colquirrumi”) to allow for an increase in the total area of the AntaKori copper-gold project in northern Peru. The agreement provides Regulus an option to earn-in to up to a 70% interest in a large area (2,571 ha) of Colquirrumi mining concessions located immediately to the north and east of its AntaKori mining concessions and also provides Colquirrumi with an option to claw-back to a 70% interest. This Definitive Agreement is based on the previously executed Memorandum of Understanding with the terms of the agreement remaining effectively the same. Please refer to the Regulus news release of May 18, 2016 for a summary of other key components of the agreement.
John Black, Chief Executive Officer of Regulus, commented as follows: “The completion of this agreement, in conjunction with the previously announced Coimolache agreement, has notably increased the footprint of the AntaKori project and gives us room to conduct exploration much more efficiently. The currently known AntaKori copper-gold sulphide mineralization will likely extend onto portions of the Colquirrumi ground and we believe there is also potential for the discovery of additional satellite zones of mineralization. We look forward to commencing exploration in this area.”
About Regulus Resources Inc.
Regulus Resources Inc. is an international mineral exploration company run by an experienced technical and management team, with a portfolio of precious and base metal exploration properties located in North and South America. For further information on Regulus Resources Inc., please consult our website at www.regulusresources.com .
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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 proposed exploration and 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 Regulus 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.