RIO2 Announces 2024 Agm Results

RIO2 ANNOUNCES 2024 AGM RESULTS

For Immediate Release May 16, 2024

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 May 15, 2024. A total of 115,981,552 common shares were voted, representing

44.68% of 259,568,913 shares issued and outstanding as of the record date of the Meeting.

Shareholders voted in favour of all items of business before the Meeting, including the election of all

director nominees as follows:

VOTES FOR % VOTES FOR VOTES

WITHHELD

% VOTES

WITHHELD

Klaus Zeitler 92,590,422 99.96% 35,962 0.04%

Alex Black 92,583,424 99.95% 42,960 0.05%

Andrew Cox 92,590,424 99.96% 35,960 0.04%

Ram Ramachandran 92,588,324 99.96% 38,060 0.04%

Albrecht Schneider 92,590,424 99.96% 35,960 0.04%

Sidney Robinson 92,590,424 99.96% 35,960 0.04%

Drago Kisic 92,590,424 99.96% 35,960 0.04%

At the Meeting , shareholders also approved and ratified the 2023 Rio2 Stock Option Plan and

approved amendments to the Company’s Share Incentive Plan as more thoroughly described in the

April 2, 2024 information circular mailed to shareholders and filed on Sedar+ (the “Information

Circular”). The full version of the Stock Option Plan and Amended Share Incentive Plan can be obtained

directly from the Company by sending a written request to [email protected].

Shareholders also approved the security -based compensation to non -arm’s length parties as

previously announced on January 29, 2024. Further disclosure on the Security -based compensation

can be found in the Information Circular.

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 short est 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

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.