Regalito Secures Water Rights for Regalito Copper Project, Chile

Regalito Copper Corp. has acquired 239.5 liters per second of water rights approximately 38 kilometers from its Regalito copper leach project in Chile. The acquisition also includes surface flow rights and a significant land position comprising 7 kilometers of river frontage encompassing the wells and the land necessary for the development of infrastructure to support the pumping of water to the mine site. The water rights will be acquired for annual cash payments over a three-year period.

David Strang, president, said, "We are extremely pleased to have secured water rights and wells in the same water district as Regalito. These water rights, plus others we expect to acquire in the near future, satisfy a critical component for the successful development of a large copper leach operation at Regalito."

The Regalito property represents the largest undeveloped leachable copper deposit globally, consists of approximately 46,000 hectares of mineral rights and contains the second largest reported copper discovery in Chile since 1996. The property is located in Chile's Third Region, approximately 115 kilometers southeast of Copiapo, a large mining center.

In January 2005, an independent NI 43-101 compliant resource estimate was completed that defined measured and indicated resources of 628 million tonnes grading 0.43% copper and inferred resources of 131 million tonnes grading 0.41% copper at a cutoff grade of 0.25% copper. The Company is currently evaluating the merits of developing a 150,000 tonne per year cathode copper mining and leaching operation.

Source: Regalito Copper Corp.