Rio2 Announces Change of Auditor and 2023 ESG Report

Rio2 Limited

(“

Rio2

” or the “

Company

”) (TSXV: 

RIO

; OTCQX: 

RIOFF;

BVL: 

RIO

) announces today that it has changed its auditors from Grant Thornton LLP (the “Former Auditor”) to PricewaterhouseCooper LLP (the “Successor Auditor”). The Former Auditor resigned as the auditor of the Company effective August 8, 2024, and the board of directors of the Company appointed the Successor Auditor on August 8, 2024, until the next annual shareholder meeting of the Company.

The Company’s board of directors and audit committee each approved the resignation of the Former Auditor and the appointment of the Successor Auditor in place of the Former Auditor; there were no reservations, modified opinions or reportable events (as defined in National Instrument 51-102) in connection with each of the Former Auditor’s audit of the Company which occurred prior to their resignation as auditors of the Company; and the Notice of Change of Auditor was approved by the Company’s board of directors.

In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the audit committee and the board of directors and have been filed on SEDAR+.

2023 ESG Report

Rio2 also announces the publication of its 2023 ESG Report. This report represents a comprehensive review of the Company’s Environmental, Social, and Governance factors related to Rio2’s development activities at its Fenix Gold Project in Chile for the year 2023.

Rio2 is committed to the principles of responsible mining and best practices in corporate governance.

The complete report is available at: https://www.onyen.com/published/RIO_2023_Annual_749.html

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 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. 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 pillars (Social, Environment, Economics) of responsible development. As related companies, we reaffirm our commitment to apply environmental standards beyond those that are mandated by regulators, seeking to protect and preserve the environment of the territories that we operate in.

To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2's SEDAR+ profile at www.sedarplus.ca.

ON BEHALF OF THE BOARD OF RIO2 LIMITED

Alex BlackExecutive Chairman Email: [e-mail]: [phone]

Kathryn JohnsonExecutive Vice President, CFO & Corporate SecretaryEmail: [e-mail] ‎Tel: [phone]‎

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.