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RIO2 Announces 2021 Agm Results

Shareholder Meetings

RIO2 ANNOUNCES 2021 AGM RESULTS

Vancouver, B.C., September 22, 2021 - Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX:

RIOFF; BVL: RIO) announces the results of voting at its Annual and Special General Meeting of

Shareholders held on Tuesday, September 21, 2021 . A total of 108,520,448 common shares were

voted, representing 54.22% of 200,135,270 shares issued and outstanding as at the record date of the

meeting.

Shareholders voted in favor of all items put forward by the Board of Directors and management. All

seven of the individuals nominated for the board of directors were elected as set out below:

VOTES FOR

% VOTES

FOR

VOTES

WITHHELD

% VOTES WITHHELD

/ABSTAIN

Klaus Zeitler 89,997,377 99.85% 136,925 0.15%

Alex Black 90,058,379 99.92% 75,923 0.08%

Ram Ramachandran 90,043,242 99.90% 91,060 0.10%

Albrecht Schneider 90,030,182 99.88% 104,120 0.12%

Sidney Robinson 90,070,172 99.93% 64,130 0.07%

Drago Kisic 90,010,369 99.86% 123,933 0.14%

David Thomas 90,010,379 99.86% 123,923 0.14%

Shareholders also voted in favor of (i) reappointing Grant Thornton LLP as auditors of the Company

for the ensuing year and authorizing directors to fix their remuneration; and (ii) approving and

ratifying the 2018 Rio2 Stock Option Plan.

The Company also wishes to anno unce that it has granted 4,200,000 incentive stock options (the

“Stock Options”) to purchase Rio2 common shares to directors, officers, employees and consultants

pursuant to Rio2’s Stock Option Plan.

These Stock Options have an expiry date of September 21, 2026 and will vest as to 1/3 thereof on each

of the first, second and third anniversaries of grant. Each Stock Option entitles the holder to purchase

one Rio2 common share at a price of $0.65 for a period of five years from the date of grant.

ABOUT RIO2 LIMITED

Rio2 is a mining company with a focus on development and mining operations with a team th at has

proven technical skills as well as a 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. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited

continues to pursue additional strategic acquisitions where it can deploy its operational excellence

and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company.

To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2's SEDAR profile at

www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO2 LIMITED

Alex Black

President, CEO & Director

Tel: +1 (604) 260-2696

Email: [email protected]

Neither the 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.