RIO2 Limited Grants Stock Options

PRESS RELEASE – SEPTEMBER 27, 2018

RIO2 LIMITED GRANTS STOCK OPTIONS

Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL:RIO) announces today that its Board

of Directors has authorized and approved a grant of 1,910,000 incentive stock options (the

“Stock Options”) to directors , officers, and senior management under its incentive stock

option plan (the “Stock Option Plan”). The Stock Options have an expiry date of September

27, 2023 and will vest as to 1/3 thereof on each of the first, second and third anniversaries

of grant, in accordance with the Stock Option Plan. The exercise price of the Stock Options

is Cdn $0.65 per share.

ABOUT RIO2 LIMITED

Rio2 Limited is building a multi‐asset, multi‐jurisdiction, precious metals company focused

in the Americas. With the Fenix Gold Project in development in Chile and exploration

platforms in Peru and Central America, Rio2 Limited will continue pursuing additional

strategic acquisitions to compile an attractive portfolio of precious metals assets where it

can deploy its operational excellence and responsible mining practices to create value for

its shareholders. Rio2 Limited has assembled a highly experienced executive team to

generate significant shareholder value, with proven technical skills in the development and

operations of mines and capital markets experience. Through its strategy of acquiring

precious metals assets at exploration, development, and operating stages, the executive

team will grow Rio2 Limited and create long‐term shareholder value through the

development of high‐margin, strong free‐cash‐flowing mining operations.

For more information about Rio2 Limited, please contact:

Alex Black

President and Chief Executive Officer

Email: [email protected]

Telephone: +1 (416) 432 0622

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