On July 15, 1910, just three months prior to her loss, Regulus collided with SS Karema 25 miles (40 km) southeast of Nantucket.

She was en route from Bell Island to Philadelphia with a full load of iron ore when she crashed head on into the port side of Karema.

[4] On October 22, 1910 Regulus departed Bell Island, Newfoundland en route to Sydney, Nova Scotia, in ballast.

When the tugs had reached the last reported location of Regulus a dense fog had blanketed the entire area with a strong southerly breeze blowing and seas beginning to get heavier.

At approximately 1 am the tow commenced, by this time the wind had veered southeast and increased to gale force with heavy seas making.

The tow proceeded at about 2 miles per hour (3.2 km/h), a pace such that both vessels made considerable leeway toward land which was spotted by the tugs crew off the port bow at about 2:30 am.

The fishermen and residents of nearby Petty Harbour-Maddox Cove immediately launched a recovery effort in an attempt to recover the bodies of the crew.

At great peril they spent the next several days in the area in their open skiffs using traditional fishing jiggers to drag the bottom for bodies but were hampered by the heavy seas.

The wreck of Regulus remained grounded and visible for the first couple of days but the heavy seas were taking their toll and the vessel was breaking up.