RIO2 Sells Non-Core Royalty Package FOR US$5 Million
RIO2 SELLS NON-CORE ROYALTY PACKAGE FOR US$5 MILLION
For Immediate Release NOVEMBER 22, 2022
VANCOUVER, BC: - Rio2 Limited (“Rio2” or “the Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO)
announces that it has entered into a binding agreement to sell a package of Chilean royalty interests
to Osisko Gold Royalties Ltd. (“ Osisko”) for aggregate consideration of US$5,000,000 (the “ Royalty
Sale”). The Royalty Sale provides for the sale of Rio2’s 1.5% royalty on the Anocarire Project and its
1.25% royalty on the Horizonte Project, both located in Chile.
Rio2 is currently in an administrative appeal process with the Chilean Government with respect to the
rejection of the E nvironmental Impact Assessment for the development of its Fenix Gold Project, as
previously outlined in a press release dated September 7, 2022.
Alex Black, President & CEO o f Rio2 Limited, stated, “We are sincerely thankful to Osisko Gold
Royalties for t heir support during this time of challenging market conditions. The monetization of
these non-core royalty interests provides Rio2 with a welcome boost to its balance sheet and working
capital.”
The Royalty Sale is subject to customary conditions precedent and is expected to close in the coming
days.
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 sho rtest possible timeframe based on a staged
development strategy. Rio2 and its wholly owned subsidiary, Fenix Gold Limitada, are companies with
the highest environmental standards and responsibility with the firm conviction that it is possible to
develop mining projects that respect the three axes (Social, Environment, Economics) of sustainable
development. As related companies, we reaffirm our commitment to apply environmental standards
beyond those mandated by regulators, seeking to protect and preserve th e environment of the
territorieswe operate in.
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
planned development of its Fenix Gold Project and other aspects of Rio2’s anticipated future operations
and plans. In addition, without limiting the generality of the foregoing, this news release contains
forward-looking information pertaining to the following: the Royalty Sale and its completion, the
Company’s plans with respect to the Fenix Gold Project and the Fenix EIA 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 i nvolves 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: exp ectations 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 materially 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 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 SEDAR profile at
www.sedar.com.
ON BEHALF OF THE BOARD OF RIO2 LIMITED
Alex Black
President, CEO & Director
email: [email protected]
Tel: +51 99279 4655
Kathryn Johnson
Executive VP, CFO
email: [email protected]
Tel: +1 604 762 4720
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.