RIO2 Expanding Chilean Footprint with New Exploration Strategy
RIO2 EXPANDING CHILEAN FOOTPRINT WITH NEW EXPLORATION STRATEGY
For Immediate Release OCTOBER 19, 2020
Rio2 Limited (“Rio2” or “the Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) today announces that it
has initiated a new Chile-wide exploration strategy. This effort is to expand the Company’s footprint
in Chile in addition to the current development of its Fenix Gold Project, located in the Maricunga Gold
Belt, Atacama Region, Chile.
Rio2’s new exploration strategy is to explore for precious metals deposits that have the potential to
develop into economic mining operations. This new initiative will levera ge on Rio2’s mine
development platform in the country.
Rio2 recently acquired 33,356 hectares of prospective exploration ground to consolidate its presence
in the Atacama Region. Rio2 also has seven exploration prospect s which remain to be systematically
explored, covering 11,200 hectares. These prosp ects are Anacorire, Piedra Parada, Amarello, Toro,
Laguna, Roca and Santa Rosa.
A systematic program of detailed geological mapping, geochemical rock/soil sampling and geophysics,
will be initiated with the objective of defining drilling targets over the next 12 months. The Company
is funded to undertake this 12-month program.
Enrique Garay, Senior Vice President - Geology of Rio2, stated, “The mineral endowment of the
Atacama Region is significant and we believe that there is good potential to identify new precious
metals deposits as Rio2 positions itself to be a key contributor in the discovery and development of
economic precious metals projects in Chile.”
Mr. Enrique Garay will lead this exploration strategy and is complementing the team with the
appointment of Mr. Ignacio Ramos as Exploration Manager - Chile. Mr. Ramos, who will be based in
Copiapo, is a Graduate of the University of Chile with 10 years of exploration experience in Chile
specializing in Au -Ag epithermal deposits and Au -Cu porphyries. During his career, Mr. Ramos has
worked for Newcrest Mining, Barrick Chile, and AngloAmerican Chile.
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 development in Chile, Ri o2 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
focused in the Americas.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively
“forward-looking information”) within the meaning of applicable securities laws relating to Rio2’s
exploration strategy and its anticipated benef its. In addition, without limiting the generality of the
foregoing, this news release contains forward- looking information pertaining to Rio2’s planned 12 -
month exploration program and the objectives of the exploration program.
All statements included he rein, other than statements of historical fact, may be forward- looking
information and such information involves various risks and uncertainties. Forward- looking
information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”,
“continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”,
“could”, “might”, “should”, “believe”, and similar expressions. The forward- looking information is
based on certain key expectations and assumptions made by Rio2’s management, including but not
limited to: expectations concerning prevailing commodity prices, applicable royalty rates and tax laws,
legislative and regulatory environment of Chile, anticipated timing of exploration activities, the
sufficiency of expenditures in carrying out planned activities, the availability of labor and services and
Rio2’s ability to access capital on satisfactory terms.
Rio2 believes the expectations reflected in these forward- looking statements are reasonable, but no
assurance can be given that these expectations will prove to be correct and such forward- looking
statements in this news release should not be unduly relied upon. A description of assumptions used
to develop such forward- looking information and a description of risk factors that may cause actual
results to differ materially from forward -looking information can be found in Rio2's disclosure
documents on the SE DAR website at www.sedar.com . Forward-looking statements included in this
news release are made as of the date of this news release and such information should not be relied
upon as representing its views as of any date subsequent to the date of this news release. Rio2 has
attempted to identify important factors that could cause actual results, performance or achievements
to vary from those current expectations or estimates expressed or implied by the forward- looking
information. However, there may be other factors that cause results, performance or achievements
not to be as expected or estimated and that could cause actual results, performance or achievements
to differ materially from current expectations. Rio2 disclaims any intention or obligation to update or
revise any forward- looking statements, whether as a result of new information, future events or
otherwise, except as expressly required by applicable securities legislation.
To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2's SEDA R profile at
www.sedar.com.
ON BEHALF OF THE BOARD OF RIO2 LIMITED
Alex Black
President, CEO & Director
Email: [email protected]
Tel: 1 (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 the responsibility for the adequacy or accuracy of this
release.