RIO2 Limited Provides an Update Regarding COVID-19

RIO2 LIMITED PROVIDES AN UPDATE REGARDING COVID-19

For Immediate Release March 18, 2020

Rio2 Limited (“ Rio2” or the “Company ”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) recognizes that the

Coronavirus (COVID-19) pandemic is a great concern for everyone and their families.

At this time Rio2 wants everyone to know that the well -being of our employees, business partners

and stakeholders is of the deepest concern to us. With this in mind we have already and will continue

to take measures to protect all parties we are in contact with.

In that regard, the Company wishes to advise that all of its personnel are working from home and

continuing to manage the affairs of our business via the company’s virtual business platform.

We are continuously monitoring events closely and following guidance from local, provincial and

governmental health authorities, in Canada, Peru and Chile, to ensure that our business practices are

aligned with the latest recommendations. As always, w e will keep our lines of communication open

with all our stakeholders to inform you of the latest company developments during this

unprecedented time.

ABOUT RIO2 LIMITED

Rio2 is a mine development company with a team that has proven technical skills in the development

and operations of mines 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 bas ed on a staged

development strategy. With the Fenix Gold Project in development in Chile, Rio2 Limited will continue

to pursue additional strategic acquisitions where it can deploy its operational excellence and

responsible mining practices to build a mult i-asset, multi- jurisdiction, precious metals company

focused in the Americas.

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: 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.