Rio2 Limited

Rio2 Limited is a Canadian mining company focused on developing its flagship asset, the Fenix Gold Project, located in the prolific Maricunga Gold Belt in Chile. Recognized as one of the largest undeveloped gold oxide resources in the world, Fenix Gold boasts 4.8 million ounces of gold in measured and indicated resources. The project is characterized by its clean oxide mineralization, simple metallurgy, and streamlined design, setting it apart from other large-scale gold projects in the region.

With a staged development approach, Rio2 is positioned to begin construction on Phase 1 operations, targeting a production rate of 20,000 tonnes per day. Supported by an experienced management team with a proven track record, Rio2 combines technical excellence with a commitment to environmental and social responsibility. The company aims to create a low-cost, sustainable mining operation while advancing future growth opportunities. Rio2 is publicly traded on the TSX Venture Exchange under the ticker symbol RIO.

Rio2 Limited is a Canadian mining company focused on developing its flagship asset, the Fenix Gold Project, located in the prolific Maricunga Gold Belt in Chile. Recognized as one of the largest undeveloped gold oxide resources in the world, Fenix Gold boasts 4.8 million ounces of gold in measured and indicated resources. The project is characterized by its clean oxide mineralization, simple metallurgy, and streamlined design, setting it apart from other large-scale gold projects in the region.

With a staged development approach, Rio2 is positioned to begin construction on Phase 1 operations, targeting a production rate of 20,000 tonnes per day. Supported by an experienced management team with a proven track record, Rio2 combines technical excellence with a commitment to environmental and social responsibility. The company aims to create a low-cost, sustainable mining operation while advancing future growth opportunities.

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Rio2 Limited is led by a team of accomplished mining professionals with extensive expertise in project development, operations, and corporate strategy. At the helm is President and CEO, Andrew Cox is based in Lima, Peru, and has over 28 years of experience in mining operations worldwide. Prior to his appointment as President, CEO, and Director, Andrew held positions as SVP Operations 2018 – 2020, then COO until November 2022.

The financial operations of the company are overseen by CFO Kathryn Johnson. She is based in Vancouver and has over 15 years of experience in the mining industry, primarily in Latin America. Kathryn brings extensive experience in accounting and finance, including financings, mergers and acquisitions, project development, internal controls and financial reporting.Together, they are driving the company toward operational excellence and long-term success.

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Rio2 Limited’s growth strategy is centered on advancing the Fenix Gold Project to production while laying the groundwork for future expansion and exploration. The company is executing a staged development approach, starting with a 20,000 tonnes per day mining operation and a subsequent expansion to 80,000 tonnes per day. This phased strategy allows Rio2 to optimize capital efficiency and de-risk the project as it progresses.

In addition to its disciplined operational plan, Rio2 is actively pursuing exploration opportunities to expand its resource base and extend the mine's life beyond the current 17-year projection. The company has also identified alternative water supply options to support future project growth, demonstrating its forward-thinking approach to operational challenges.

Environmental stewardship and community engagement are integral to Rio2’s strategy. The company has committed to sustainable practices, including utilizing industrial water sources and adhering to rigorous environmental standards. By leveraging its experienced management team, innovative development model, and strategic location in Chile, Rio2 is well-positioned to become a leading gold producer in the Americas, delivering substantial value to stakeholders.

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Rio2 Limited is financially well-positioned to advance its flagship Fenix Gold Project, with a fully funded construction plan supported by a combination of equity, gold streaming, and flexible prepay arrangements. The project’s initial capital expenditure (CAPEX) is estimated at $116.6 million, with additional sustaining capital requirements of $76.9 million over the mine’s 17-year life. Rio2 has already invested $31 million in pre-construction activities, demonstrating its commitment to timely project execution.

The Fenix Gold Project is projected to generate robust financial returns, with an after-tax net present value (NPV) of $210.3 million at a 5% discount rate and an internal rate of return (IRR) of 28.5%, based on a gold price of $1,750 per ounce. The project is expected to deliver an average annual gold production of 81,900 ounces at a competitive all-in sustaining cost (AISC) of $1,237 per ounce, ensuring profitability even during periods of market volatility. Rio2’s financial strategy minimizes shareholder dilution through its efficient capital structure and reliance on non-dilutive financing options, such as the $100 million flexible prepay facility provided by Wheaton Precious Metals.

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Rio2 Limited stands poised to become a prominent player in the gold mining sector, driven by the development of its flagship Fenix Gold Project in Chile’s Maricunga Gold Belt. With 4.8 million ounces of measured and indicated gold resources, a robust financial outlook, and a fully funded construction plan, the project represents one of the largest and most advanced undeveloped gold oxide resources in the world.

Through its phased development strategy, innovative water management solutions, and commitment to sustainability, Rio2 has positioned itself to achieve operational excellence while maintaining strong environmental and social governance practices. Backed by an experienced management team and strategic financial partnerships, the company is set to deliver sustainable growth and significant value for its shareholders.

As global demand for gold continues to rise, Rio2 Limited offers a compelling opportunity to invest in a de-risked and high-potential mining operation, strategically located in a top-tier jurisdiction. With construction on the horizon and production expected to commence in the near term, Rio2 is well-equipped to deliver on its vision of becoming a leading gold producer in the Americas.

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