Conditional disposal

Regency Mines PLC

Conditional disposal of interest in Cue Resources Limited

4 May 2011

Regency Mines ("Regency" or the "Company"), the mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea, announces that it has agreed to dispose of its entire holding of 4,506,385 common shares in Cue Resources Ltd (TSXV: CUE, "Cue") to Resource Star Limited (ASX: RSL, "RSL") for an aggregate consideration of C$444,000. The Company's 20.96 per cent. owned associate Red Rock Resources plc is interested in 24.9 per cent. of RSL's issued ordinary share capital and has also agreed to dispose of its interests in Cue.

The transaction is subject to approval by shareholders of RSL, other than Red Rock, at an RSL EGM expected to be held in June. The consideration payable to Regency will be paid in two instalments, 40% on completion with the balance six months later.

Further details on the transaction and on Cue are available in the RSL announcement which may be accessed via http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=RSL.

Enquiries:

Andrew Bell 0207 402 4580 or Regency Mines plc Chairman

07766 474849

Sandra Spencer 0207 402 4580 or Regency Mines plc Public and Investor

07757 660 798 Relations

Peter Trevelyan-Clark/ 020 7444 0800 Religare Capital Markets Nominated Adviser

Ben Jeynes

Nick Emerson 01483 413500 Simple Investments Ltd Broker

Updates on the Company's activities are regularly posted on its website, www.regency-mines.com.