RIO2 Limited Receives US$5 Million ON Sale of Non-Core Assets
RIO2 LIMITED RECEIVES US$5 MILLION ON SALE OF NON-CORE ASSETS
For Immediate Release December 22, 2021
VANCOUVER, B.C., - Rio2 Limited (“Rio2” or “the Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO)
announces the closing of the sale of the Anocarire mining concessions by Fenix Gold Limitada, a wholly
owned subsidiary of Rio2, to Andex Minerals Chile SpA following the successful completion of Andex’s
purchase option.
The Anocarire mining concessions were one of the non -core assets resulting from the Company’s
business combination with Atacama Pacific Corporation in July 2018. The concessions are located in
the district of Putre, Province of Parinacota, Region I, Chile, approximately 120 km east of Arica and
60 km southeast of the town of Putre. There are no development synergies between the future Fenix
Gold Mine and the Anocarire concessions.
The total consideration received by Rio2 are cash payments total ling US$6,400,000 and a 1.5% NSR
made up of US$5,000,000 received at closing and US$1,400,000 received in partial payments over the
past three years; and the grant of a 1.5% net smelter return royalty in respect of all mining products
extracted from the Project from the start of commercial production for a period of one hundred years.
Jose Luis Martinez, Rio2’s Executive Vice President and Chief Strategy Officer, stated, “the sale of this
non-core asset adds an additional US$5,000,000 of available fundin g to support Rio2’s strategic
business initiatives other than the construction of the Fenix Gold Project which has its project
financing arranged to production.”
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 additi on to the Fenix Gold Project in development 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.
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
arranged financing for the development and operation of its Fenix Gold Project, its strategic business
initiatives and other matters ancillary or incidental to the foregoing.
All statements included herein, 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 which may prove to
be incorrect, including but not limited to: expectations concerning prevailing commodity prices,
exchange rates, interest rates, applicable royalty rates and tax laws; capital efficiencies; legislative and
regulatory environment of Chile; future production rates and estimates of capital and operating costs;
estimates of reserves and resources; anticipated timing and results of capital expenditures; the
sufficiency of capital expenditures in carrying out planned activities; performance; the availability and
cost of financing, 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 m aterially from forward -looking information can be found in Rio2's disclosure
documents on the SEDAR website at www.sedar.com. These risks and uncertainties include, but are
not limited to: risks and uncertainties relating to the completion of the financings as described herein,
and management’s ability to anticipate and manage the factors and risks referred to herein. 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 mate rially 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 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 a ccuracy of this
release.