Regulus Announces Spin-Out of New Company, Aldebaran Resources, with an Option to Acquire a Majority Interest in the Altar Copper-Gold Project, Argentina

VANCOUVER, British Columbia, June 29, 2018 (GLOBE NEWSWIRE) — Regulus Resources Inc. (“Regulus” or the “Company”) (TSX-V:REG) is pleased to announce that it has entered into an arrangement agreement (the “Arrangement Agreement”) to spin out its Argentine assets, including the Rio Grande and Aguas Calientes projects, into a newly formed company, Aldebaran Resources Inc. (“Aldebaran”). Under the terms of the Arrangement Agreement, Aldebaran will enter into a joint venture and option agreement (the “JV Agreement”) with Stillwater Canada LLC, an indirect subsidiary of Sibanye Gold Limited, trading as Sibanye-Stillwater (“Sibanye-Stillwater”), to acquire up to an 80% interest in Peregrine Metals Ltd. (“Peregrine”), a wholly-owned subsidiary of Sibanye-Stillwater, that owns the Altar Copper-Gold project in San Juan Province, Argentina (“Altar” or the “Altar Project”).

Altar contains 2,057 million tonnes of measured and indicated resources at 0.3% copper and 0.1 g/t gold (14.5 billion pounds of copper and 5.2 million ounces of gold) and 557 million tonnes of inferred resources at 0.3% copper and 0.1 g/t gold (3.4 billion pounds of copper and 1.1 million ounces of gold). Aldebaran has engaged Independent Mining Consultants, Inc. of Tucson, Arizona, to prepare a current NI 43-101 resource estimate for Altar, which is expected to be completed in August, 2018.

https://www.regulusresources.com/regulus-announces-spin-out-of-new-company-aldebaran-resources-with-an-option-to-acquire-a-majority-interest-in-the-altar-copper-gold-project-argentina/

https://globenewswire.com/news-release/2018/06/29/1531663/0/en/Regulus-Announces-Spin-Out-of-New-Company-Aldebaran-Resources-with-an-Option-to-Acquire-a-Majority-Interest-in-the-Altar-Copper-Gold-Project-Argentina.html
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