Exploration Update

Regency Mines PLC
13 September 2006

                               REGENCY MINES PLC

                          Exploration Update - Nickel


Dated: 13 September 2006


Regency Mines plc (the 'Company' or 'Regency'), the mining exploration and
mineral investment company with interests in copper and nickel in Western
Australia, Queensland, and Papua New Guinea, announces the results of its
preliminary exploration programme at its lateritic nickel project at Mambare,
Papua New Guinea.

The laterite bearing nickel potential of the Mambare Plateau, some 2 to 20
kilometres north of Kokoda has been explored intermittently since 1960.  Kokoda
and Mamba Estate to the southwest of Mambare Plateau are linked to Popondetta
and Oro Bay by gravel at first and sealed road.  The Company through a local 75%
owned subsidiary holds the exploration rights to Mambare Plateau within EL 1390,
which was granted over 584 sq km for a 2 year period on June 10, 2005.

The Mambare Plateau is an elevated 20 by 7 kilometre old land surface west of
the Ajule-Kajale Range, developed on tectonite ultramafics.  To the east, these
ultramafics are overlain by gabbroic rocks and submarine basaltic volcanics.

Previous exploration was conducted by several companies in the 1960's, including
the Bureau of Mineral Resources, Homestake-Hanna Syndicate, Amax Mining
(Australia) Inc., Southern Mining & Development Co. Ltd. and PNG Nickel Ltd.
Exploration consisted of pitting and hand augering with at least one bulldozer
trench being dug.  Between 1960 and 1971, 240 Auger holes were drilled, and 56
pits and one costean dug. In 1999 Anaconda Nickel Ltd reviewed the data over a
158 sq km area of the Mambare Plateau and estimated two limonite resource
potentials: 630 Mt at 0.78% nickel with a 0.5% cut-off and 200 Mt at 1.01%
nickel with a 0.8% cut-off.

The auger drilling across the Mambare Plateau indicates a profile of:

          3-5m of ash;

          3-6m of low grade limonite laterite;

          3-6m of limonite ore grading 0.9 to 1.1% nickel (+0.1% cobalt); and

          4m of saprolite ore grading at least 1.15% nickel.

The pits on the Arumu Slopes indicate a similar profile of:

          3-6m of ash;

          0-2m of low grade limonite laterite;

          4m limonite ore; and

          4m of saprolite ore.

This profile is best illustrated by pit KR 022 which has a profile of;

          3m of ash;

          3.66m of limonite ore grading 1.05% nickel (and 0.12% cobalt)

          4.55m of saprolite ore grading 1.25% nickel.

The current programme consisted of creating a data base of the historical data
with ground truthing.  The line of pits sunk along the Ukita Ridge in 1962 were
located, surveyed into the AMG 66 grid using a GPS and re-sampled.  The pits on
Namara - Karati Ridge were located and surveyed into the AMG 66 grid.  Several
of the pits dug by Amax from the 1968 programme on the southern slopes of the
Mambare Plateau were also located and surveyed into the AMG 66 grid.

This surveying has allowed correction of the calculated co-ordinates of the pits
and the auger holes so they are properly plotted on the published topographic
base with the AMG 66 grid.

The samples from the ten re-sampled shallow pits were assayed in Djakarta by PT
Intertek Utama Services using the XRF technique.  Elements assayed include
nickel, cobalt along with Al203, CaO, Cr2O3, Fe2O3, K2O, MgO, MnO, Na2O, P2O5,
TiO2 & LOI. There was good correlation with previous results, with 19 of the 48
samples grading over 0.8% nickel and 11 grading over 1% nickel.

A ground magnetometer traverse was completed up the Arumu Slopes onto the
Mambare Plateau over a distance of 3300 metres, with individual readings every
25metres.

Seven helipads were cleared to afford helicopter access in the near future.

The 1971 sampling, and that carried out this season, tested systematically for
cobalt and the data indicate that over 500 ppm Co is very common in the
mineralized limonite sections, with one re-sampled hole grading 0.12%.
Compilation by Anaconda indicates that the Plateau and its slopes have the
potential to host +200 Mt of limonite ore grading 1% nickel.  To this resource
the cobalt potential of approximately 0.1% can also be added.  The auger
drilling and pitting did not intersect much of the underlying and generally
higher grade saprolite ore.  This resource potential may be similar to that of
the limonite ore and can also be added to the potential indicated by Anaconda.

This resource potential can be summarised as:

          Limonite Ore         200 Mt of 1% nickel and 0.1% cobalt and

          Saprolite Ore         200 Mt of 1.25-1.5% nickel.

Much of the previous auger drilling and pitting were too shallow to test
adequately the limonite ore, and in many cases failed to encounter the saprolite
ore or ended in mineralization. The potential resource needs to be further
evaluated with diamond drilling to test both this limonite ore and the
underlying poorly tested saprolite ore. The underlying saprolite ore is
suggested to be as thick as the overlying limonite ore.  Geophysical techniques
such as magnetics and ground penetrating radar may help better definition of
bedrock rock types and thickness of laterite profiles.

The large size of the 20 km by 5-7 km Mambare Plateau, compared with the 7 km by
2-3 km envelope of known mineralization at the nearby Wowo Gap, gives a large
potential area of mineralization and the possibility of a significant resource.

Glossary

Laterites: clays including limonite and saprolite formed by intense weathering
of the rock, typically in humid climates, from which all soluble material have
been dissolved, leaving behind insolubles such as iron and aluminium.

Limonite: (FeO(OH)), an amorphous, hydrated iron oxide, dark brown to black, of
supergene origin.

Supergene enrichment: Where circulating ground waters remobilise metaliferous
elements from a superficial deposit, to form concentrated ore bodies below the
water table.

Saprolite: clay rich red or brown totally decomposed rock, formed in situ by
chemical weathering of igneous or metamorphic rocks.

Declaration

The technical information in this announcement is based on information compiled
by Graham L Rolfe, a consulting geologist to Red Rock, who is a member of the
Australasian Institute of Mining and Metallurgy. Graham Rolfe has extensive
experience relevant to the style of mineralisation and type of deposit under
consideration. Graham Rolfe consents to the inclusion in this announcement of
the matters based on his information in the form and context in which it
appears.

Enquiries:

Andrew Bell                                        0207 402 4580 or 07766 474849
Regency Mines plc
Chairman

Ron Marshman / John Greenhalgh                                     0207 628 5518
City of London PR

John Simpson                                                       0207 512 0191
ARM Corporate Finance Ltd
Nominated Adviser


Updates on the Company's activities are regularly posted on Red Rock's website,
www.rrrplc.com.


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