May 16, 2012 at 16:01 PM EDT
Regal Announces Re-Pricing of Private Placement Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) - Regal Resources Inc. (the "Company" or "Regal") (CNSX:RGR) announces that it has re-priced the previously announced (April 5, 2012) non-brokered private placement. The Company will now conduct a non-brokered private placement of up to 5,000,000 units of the Company (the "Units") at a price of $0.10 per Unit for aggregate proceeds of up to $500,000 CDN. Each Unit will consist of one common share in the capital of the Company and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share of the Company at a per share price of $0.20 for a period of one year from the date of closing of the offering, subject to accelerated expiry in certain circumstances.

Shares acquired by the placees will be subject to a hold period of four months plus one day from the date of completion of the financing in accordance with applicable securities legislation. Funds raised by this private placement will be used for general corporate purposes.

Corporate Update

Further to the Company's previously announced (February 3, 2012) Patagonia Purchase Agreement, Minquest Inc. and Regal have agreed to extend the closing date of acquisition. In consideration of the extension the Company has paid to Minquest Inc. a $400,000 USD non-refundable deposit which will be applied to the $800,000 USD total purchase price and issued to Minquest Inc. 50,000 shares of Regal. The balance of the $800,000 USD is due May 31, 2012.

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.

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