Rio2 Limited (TSX: RIO) (OTCQX: RIOFF) (BVL: RIO) announces that, further to its news releases dated November 16, 2021, March 29, 2022, October 21, 2024, March 24, 2025, and July 25, 2025, it has received a fourth and final deposit payment of US$50,000,000 from Wheaton Precious Metals International Ltd. in connection with the previously announced amended and restated precious metals purchase agreement and flexible pre-pay arrangement relating to Rio2’s Fenix Gold Project in Chile. The Fourth Deposit will be used by Rio2 to continue to advance mine construction at Fenix Gold.

FENIX GOLD PROJECT

The Fenix Gold Project is one of the largest undeveloped gold oxide, heap leach projects in the Americas, hosting a Measured and Indicated mineral resource of 4.8 million ounces of gold which the Company believes will make a positive contribution to the Atacama Region and Chile. The Project is an example of modern gold mining where a full complement of technical, environmental, and social considerations has been consulted and designed from the outset. The Project represents a significant investment in the gold mining business in Chile by a junior mining company of approximately US$235M of initial and sustaining capital, generating employment for at least 1,200 people during the construction phase and 550 people during the 17-year operations phase. The mine being contemplated will be a run-of-mine heap leach operation; no crushing or tailings storage facilities are required, thereby minimizing the overall impact and footprint of the Project.

For additional information regarding the Project, including key parameters, assumptions ‎and risks associated with its development, see the independent technical report entitled ‎‎“NI 43-101 Technical Report on the Feasibility Study for the Fenix Gold Project” pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects. The Feasibility Study is dated October 16, 2023, with an effective date of October 16, 2023, a copy of which document is available under ‎Rio2’s SEDAR+ profile at ‎www.sedarplus.ca.

ABOUT RIO2 LIMITED

Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. Rio2 and its wholly owned subsidiary, Fenix Gold Limitada, are companies with the highest environmental standards and responsibility with the firm conviction that it is possible to develop mining projects that respect the three pillars (Social, Environment, Economics) of responsible development. As related companies, we reaffirm our commitment to apply environmental standards beyond those that are mandated by regulators, seeking to protect and preserve the environment of the territories that we operate in.

To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2’s SEDAR+ profile at www.sedarplus.ca.

ON BEHALF OF THE BOARD OF RIO2 LIMITED

Alex Black
Executive Chairman of the Board
Email: alex.black@rio2.com
Tel: +51 99279 4655

Kathryn Johnson
Executive Vice President, CFO & Corporate Secretary
Email: Kathryn.johnson@rio2.com
Tel: +1 604 762 4720