Can a CO2 Regulator Get Wet?

[zgardener]

I'm getting ready for the summer and drawing up plans for a cooler that can fit a 2.5 or 3 gallon keg with a faucet on the side. I'd like to push it with a small paint ball CO2 tank, but am worried about damaging the regulator when the ice melts and splashes on the regulator.
Is this a valid concern? or is the regulator water tight from the outside?

 

[Grahambo]

Regulators are air tight.......

If you're really worried about it, Drill a couple holes and mount the tank outside of the cooler.

 

[zgardener]

Regulators are air tight.......

If you're really worried about it, Drill a couple holes and mount the tank outside of the cooler.

Not too worried about it, I suspected they were, just wanting to verify