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Quarterly Report to 30 September 2021¹ ● Operations The 12 Month Moving Average Lost Time Injury Frequency Rate ( LTIFR ) was steady at 1.3 at the end of the quarter . ● REGIS RESOURCES LTD Quarterly gold production of 101,989oz at an AISC of $ 1,521 / oz with a Duketon production of 73,074oz at an AISC of $ 1,617 / oz and Tropicana of 28,914oz at an AISC of $ 1,179 / oz . Gold sales for the quarter totalled $ 179M at an average realised price of $ 2,178 / oz after adjusting for hedging . C1 Cash cost before royalties ( inclusive of Tropicana ) for the quarter of $ 1,072 / oz . ● Generated Operating Cash of $ 52M from Duketon and $ 42M from Tropicana Cash and bullion of $ 208M down from $ 269M in the June quarter after reduced bullion production for the quarter and $ 77M expenditure on capital , $ 22M in dividends , $ 21M in income tax and $ 17M for exploration and McPhillamys and $ 17M for other ( incl corporate ) . 25 ● Maintaining FY22 Guidance of 460-515koz of gold , AISC of $ 1,290-1,365 / oz and Growth Capital of $ 155 165M Growth ● COVID related issues are rising as a potential restriction on the company due to high labour turnover and increasing competition for replacement personnel . ● Development of the Garden Well South underground mine continued with first ore expected in the December quarter and stoping to commence late in the June 2022 quarter . Further strong mineralisation indicated by drilling beneath Garden Well Main pit continues to demonstrate the potential for establishing a new underground resource and potentially an additional underground production area . The McPhillamys team continues to be actively engaged with the various government departments and while progress has been achieved , approval timing is largely outside the Company's control . Regis Resources Managing Director , Jim Beyer , said : " The September quarter was a difficult one with the already planned lower production flagged when we provided guidance for FY22 accompanied with some challenges that were not expected . The quarter continued Regis solid safety performance . Our LTIFR is now the lowest it has been for many years and pleasingly below the WA gold industry average . Regis has continued to manage our ongoing response to COVID which has been coordinated in cooperation with our contractors . While the quarter was always expected to be soft due to activity schedule , some unplanned short term operational issues did arise . These impacted on production timing and are expected to be recovered over the remaining financial year . Development continued at our latest growth project , the Garden Well South underground mine . We are expecting to reach first ore before the end of December and stoping is due to commence late in the June 2022 quarter . This will be a significant addition to our production profile and a platform to potentially extend life further through underground exploration at the growing Garden Well mining centre . Progress of the permitting process for McPhillamys continues albeit frustratingly slow . Under the current advice we anticipate a potential recommendation by DPIE to the IPC has the potential to be made in the first half of FY22 , although we accept that the timing is largely outside of Regis ' control . Looking forward , Regis maintains its overall guidance for the FY22 year of a production range of 460-515koz at an AISC range of $ 1,290-1,365 / oz . 1. All currency is expressed in Australian dollars unless otherwise noted . It is clear there are risks of further COVID impacts in both supply chains and personnel availability . The mandating of vaccination shots is viewed by Regis as a critical element of the path out of this period of uncertainty and we are actively supporting and planning for this initiative . We note the mandatory nature of the vaccination requirements in Western Australia may result in further near - term labour availability risks . Page 1