Regis Resources has delivered its mineral resource and ore reserve update for 2025, marking the sixth consecutive year of underground reserve growth across its operations. The company’s group mineral resources have increased to 8.3 million ounces from 7.5 million ounces at the end of 2024, while ore reserves have grown to 2.0 million ounces from 1.7 million ounces. This sustained growth trajectory demonstrates the company’s success in converting resources into reserves through disciplined exploration and development work.
The standout performance came from the Duketon asset, where reserves expanded by 307,000 ounces, or approximately 30%, to reach 1.389 million ounces. Garden Well Underground delivered the most impressive result, with ore reserves growing by over 257,000 ounces, representing a 120% increase to 474,000 ounces. This substantial expansion materially extends the demonstrated mine life at Garden Well and underscores the depth of mineralisation at the operation. Managing Director Jim Beyer attributed these results to the team’s deepening geological knowledge and systematic approach to discovery and reserve conversion.
The company also reported that underground reserve growth was approximately 2.4 times the underground depletion of 116,000 ounces, a ratio that investors should note as it indicates the rate of new resource conversion is substantially outpacing mine production. At Tropicana, the company’s other major asset, underground ore reserves grew by 200,000 ounces during 2025 following depletion. Since declaring an initial underground reserve in 2018, total underground additions of 1.3 million ounces have exceeded depletion by approximately 500,000 ounces, demonstrating the long-term value of the asset’s underground potential.
Beyond existing operations, Regis announced an initial mineral resource estimate for Southern Star, a deposit acquired in 2025 along a highly productive structural corridor that also hosts Rosemont and Ben Hur. The initial open pit resource at Southern Star comprises 1.9 million tonnes at 1.1 grams per tonne for 69,000 ounces, reported within a A$3,900 per ounce pit shell. While early stage, this addition represents expansion of the company’s growth pipeline within the Duketon region.
For investors, these results suggest that Regis has successfully created a sustainable reserve replacement cycle, reducing dependence on major new discoveries to maintain production profiles. The consistent outperformance of reserve growth relative to depletion provides confidence in the longevity of the asset base. The reserve life extension at Garden Well and the emergence of Southern Star as a development opportunity add optionality to the company’s portfolio. Investors should monitor upcoming guidance updates and development timelines for these assets, particularly Southern Star and the underground expansion potential at existing operations. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Regis Resources Limited (ASX: RRL)
Regis Resources Limited is an Australian gold producer and explorer that engages in the exploration, evaluation, and development of gold projects. The company operates the Duketon Gold Project in the northeastern Goldfields of Western Australia and the Tropicana Gold Project east-northeast of Kalgoorlie in Western Australia.
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