Reg Technologies Inc.
OTC Bulletin Board : REGRF
TSX VENTURE : RRE

March 28, 2011 09:01 ET

Reg Technologies Inc. and Minewest Silver and Gold Announce Silverknife Notice of Work Submitted

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 28, 2011) - Reg Technologies Inc. ("Reg" or "RRE.V" or "REGRF") (TSX VENTURE:RRE)(OTCBB:REGRF) is pleased to announce that a notice of work for the B.C. Silverknife property has been submitted to the B.C. government in support of a proposed drilling program in the amount of up to 1,500 meters.

The following work is recommended by, Paul D. Gray, P.Geo., within the 2011 Silverknife Technical report as filed on SEDAR as follows:

  • Phase I (a) - Silverknife data GIS Completion
  • Phase I (b) - Core recovery program from previous drilling completed in 1985 & 1987
  • Phase I (c) - Property survey / prospecting geological mapping
  • Phase I (d) - Detailed geophysical survey
  • Phase I (e) - Diamond drilling program 1,000 to 1,500 meters

Total budget $358,700.00

The Silverknife property represents a zone of known Ag-Zn-Pb mineralization distal to, and stratigraphically lower than the Silvertip deposit and more proximate to the Cassiar Batholith (a potential mineralizing heat source in the district). Paul D. Gray, P.Geo., author of the 43-101 report on the Silverknife property, believes the most relevant targets for mineral exploration on the Property are associated chimney-type feeder systems and mantos related to the Silvertip mineralizing event.

To date, there has been insufficient exploration work conducted to adequately define these potential targets and it is uncertain if such targets will be discovered. However, the fact the mineralization has been identified and overlaps onto the Silvertip property is a compelling reason to explore for additional zones of mineralization on the Silverknife Property.

In 1983, the Silverknife Property was staked and from 1984-1988 Reg Resources Corp. and Chevron Minerals Inc. a staged series of mineral exploration programs were conducted. Geochemistry and geophysics were the primary initial (1983-1985) exploration tools applied to Property, and following on a number of anomalies discovered in 1985 a 30 hole diamond drill program was completed. Based on this first phase drilling, a "Discovery Zone" of silver-zinc-lead mineralization was uncovered, including the following intersections:

  • Hole 85-4: 7.25m of 5.04oz/t Ag, 2.65% Pb and 3.09% Zn
  • Hole 85-6: 0.2m of 4.43oz/t Ag, 1.9% Pb and 3.42% Zn
  • Hole 85-21: 4.3 m of 29.02oz/t Ag, 10.14% Pb and 7.02% Zn

20 additional holes were collared from 1986-1987, the bulk of which were focused on defining and expanding the "Discovery Zone" mineralization on the Property. The 1987 drilling included the following mineralized intersections:

  • Hole 87-35: 18.02 m of 4.17 oz/t Ag, 1.67% Pb and 3.02% Zn
  • Hole 87-38: 9.99 m of 5.36 oz/t Ag, 1.73% Pb and 3.15% Zn
  • Hole 87-39: 4.63 m of 3.18 oz/t Ag, 4.60% Pb and 3.97% Zn
  • Hole 87-40: 5.94 m of 6.20 oz/t Ag, 3.47% Pb and 3.65% Zn
  • Hole 87-43: 8.00 m of 2.05 oz/t Ag, 1.59% Pb and 4.85% Zn
  • Hole 87-44: 3.66 m of 7.52 oz/t Ag, 6.21% Pb and 4.78% Zn

Through a series of agreements, the Property is owned as follows:

  • Reg Tech owns 8 million shares of Minewest Silver and Gold (a Reg Technologies Inc. subsidiary, British Columbia incorporated, private company), which owns a 70% working interest in the Silverknife Property subject to the 10% NPI held by Teryl;
  • Teryl owns 30% working interest and has a 10% Net Profit Interest ("NPI");
  • Reg holds a 5% net profits interest against the whole of the Property; and
  • a 1% NSR is held against the Property by SMR Investments Ltd.
  • Reg Tech is making a distribution of shares to its shareholders on a 7 to 1 basis. For every seven shares of Reg the shareholder will receive 1 share of Minewest.

Qualified Person

Paul D. Gray, P. Geo., is a Qualified Person as defined in NI 43-101 and also qualifies under the rules stated by the U.S. Securities and Exchange Commission ("SEC"), and has verified the data contained in this news release for accuracy.

ABOUT REG TECHNOLOGIES INC.

Reg Technologies Inc. and REGI U.S., Inc. are developing for commercialization an improved axial vane type rotary engine known as the Rand Cam™/RadMax™ rotary technology used in the revolutionary design of lightweight and high efficiency engines, compressors and pumps. The RadMax™ engine has only two unique moving parts, the vanes (up to 12) and the rotor, compared to the 40 moving parts in a simple four-cylinder piston engine. This innovative design makes it possible to produce up to 24 continuous power impulses per one rotation that is vibration-free and extremely quiet. The RadMax™ engine also has multi-fuel capabilities allowing it to operate on fuels including gasoline, natural gas, hydrogen, propane and diesel. For more information, please visit www.regtech.com .

ON BEHALF OF THE BOARD OF DIRECTORS
Reg Technologies Inc.

"John Robertson"
John Robertson, President

READER ADVISORY

Statements in this press release regarding the business of Reg Technologies Inc. and REGI U.S, Inc. (together the "Companies'") which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, certain of which are beyond the Companies' control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: the impact of competitive products and pricing, the Companies' dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Companies or develop or license other functionally equivalent technologies; financing requirements; changes in laws, rules and regulations applicable to the Companies and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Companies' actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in Reg Technologies' financial statements, management discussion and analysis and material change reports filed with the Canadian Securities Administrators and available at www.sedar.com, and its Form 20-F filed with the United States Securities and Exchange Commission at www.sec.gov, and REGI's Form 10-KSB annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Companies will derive therefrom.

Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Companies or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Companies do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Reg Technologies Inc.
    John Robertson
    604-278-5996 or Toll Free: 800-665-4616
    604-278-3409 (FAX)
    www.regtech.com