REGENCY MINES PLC
Australian Exploration Update 4 May 2012
Regency Mines plc ("Regency" of the "Company"), the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan announces an update on its Australian exploration activities.
Regency focuses on base metals and raw material opportunities in Australia and Asia. The Company has been concentrating on nickel, with interests in an established deposit of lateritic nickel in Papua New Guinea. Other investments the Company holds indirectly are Australian iron ore interests, Asian coal interests and through a strategic partnership the Company is involved in nickel treatment technology.
The Company operates an exploration division currently focusing in Australia, searching for mineral commodities with future supply shortages. In recent weeks, supply shortages of high quality flake graphite have been identified by a number of Canadian media outlets as the next boom commodity. The supply shortage of flake graphite is increasing, primarily due to the use in Lithium Ion batteries.
The world graphite supply is currently due to the small number of high grade carbon flake graphite deposits which can be bought into production relatively quickly to fill the supply shortages expected to be acute in the coming years. As the price continues to rise due to commodity supply shortages, the Directors expect that global exploration will be increased to search for additional high grade resources.
The Company is pleased to provide the following technical information on its Munglinup flake graphite exploration activities.
In this release are also included initial drill assay results from Regency's March 2012 drilling program at the Pyramid Lake project, which intersected significant grades of Ilmenite containing up to 3.79% titanium.
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