RIO2 Announces Warrant Expiration

RIO2 ANNOUNCES WARRANT EXPIRATION

For Immediate Release August 16, 2022

Vancouver, BC - Rio2 Limited (“Rio2” or “the Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) ,

announces today that 25,091,950 share purchase warrants, with an exercise price of C$0.50, expired

on August 13, 2022. These share purchase warrants were issued in connection with the Company’s

2019 offering of units consisting of common stock and half warrants (the “Offering”).

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 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 dev elopment 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 RIO2 LIMITED

Alex Black

President, CEO & Director

Email: [email protected]

Tel: 604 260-2696

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

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

release.