Regulus Resources Inc. (TSX-V:REG) is very pleased to announce that on January 23, 2017, its wholly owned Peruvian subsidiary, Southern Legacy Peru S.A.C., finalized the execution of a Definitive Agreement with Compañía Minera Coimolache S.A. to allow for collaborative exploration of the AntaKori copper-gold project in northern Peru. 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 the key components of the agreement. By mutual agreement, the Memorandum of Understanding and the time frame for the completion of a parallel definitive agreement with Compañía Minera Colquirrumi S.A. have been extended to March 30, 2017 to allow for additional legal review (as previously announced on January 3, 2017). The completion of the Colquirrumi Agreement is required to maintain the Coimolache Agreement in good standing and both parties are confident the agreement will be completed within the extension period.
John Black, Chief Executive Officer of Regulus, commented as follows: “We are very excited to have the Definitive Agreement with Coimolache completed. This innovative agreement has been carefully crafted to allow for the collaborative exploration of the AntaKori deposit while maintaining the autonomy of each party until such a point as it becomes clear what the best path forward will be for development of the project. There is a small amount of work remaining to complete the parallel agreement with Minera Colquirrumi for exploration on the north side of the AntaKori project – this work will not take long and we see no impediments to having this agreement signed soon. We now look forward to an aggressive exploration program in 2017 with a 15-18,000 meter drilling program scheduled to commence by early March. Additional details about the exploration program will be announced after signing the definitive Colquirrumi agreement.”
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.
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