RIO2 Announces 2022 Agm Results

RIO2 ANNOUNCES 2022 AGM RESULTS

For Immediate Release December 15, 2022

Vancouver, B.C. - 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 (the

“Meeting”) held on Wednesday , December 14, 2022. A total of 138,787,771 common shares were

voted, representing 53.90% of 257,510,649 shares issued and outstanding as of the record date of the

meeting.

Shareholders voted in favor o f all items put forward by the board of d irectors and management. All

six 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 100,040,770 88.00% 13,644,599 12.00%

Alex Black 112,682,234 99.12% 1,003,135 0.88%

Ram Ramachandran 112,650,134 99.09% 1,035,235 0.91%

Albrecht Schneider 112,645,634 99.09% 1,039,735 0.91%

Sidney Robinson 112,740,134 99.17% 945,235 0.83%

Drago Kisic 112,670,134 99.11% 1,015,235 0.89%

Shareholders also voted in favor of (i) reappointing Grant Thornton LLP as Company auditors 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 announce that, following the Meeting, the Company’s board of directors,

properly ratified by shareholders, appointed Mr. Andrew Cox, President & CEO, as a director. As a

result of this appointment Rio2’s board of directors is comprised of seven members.

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 axes (Social, Environment, Ec onomics) of sustainable

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.sedar.com.

ON BEHALF OF THE BOARD OF RIO2 LIMITED

Alex Black

Executive Chairman

Email: [email protected]

Tel: +51 99279 4655

Kathryn Johnson

Executive Vice President, CFO & Corporate Secretary

Email: [email protected]

Tel: +1 604 762 4720

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this

release.