Rio Alto and Sulliden Announce Shareholder Approval of the Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 30, 2014) - Rio Alto Mining Limited ("Rio Alto" or the "Company") (TSX:RIO) (LMA:RIO) (NYSE:RIOM) (DBFrankfurt:MS2) and Sulliden Gold Corporation Ltd. ("Sulliden") (TSX:SUE) (LMA:SUE) (OTCQX:SDDDF) are pleased to announce that each company held a special meeting of shareholders (the "Meetings") earlier today, and the previously announced plan of arrangement (the "Arrangement") involving Rio Alto, Sulliden, Sulliden Mining Capital Inc. ("SpinCo"), a wholly owned subsidiary of Sulliden, and shareholders of Sulliden was approved by the shareholders of each of Rio Alto and Sulliden.

99.8% of the shares represented at Rio Alto's special shareholders' meeting held earlier today were voted in favour of an ordinary resolution authorizing the issuance of Rio Alto common shares pursuant to the Arrangement.

99.9% of the shares represented at Sulliden's special shareholders' meeting held earlier today voted in favour of the Arrangement. Pursuant to the Arrangement, Sulliden shareholders will receive 0.525 of a Rio Alto share and 0.1 of a common share in the capital of SpinCo for each Sulliden share held. Sulliden's shareholders also approved the continuance of Sulliden from the province of Québec to the province of Ontario and the adoption of a new SpinCo stock option plan at the shareholders' meeting. The Common Shares of SpinCo have been conditionally approved for listing on the Toronto Stock Exchange.

Sulliden will apply for a final order approving the Arrangement from the Ontario Superior Court of Justice (Commercial List) on August 1, 2014. Assuming all other terms and conditions to the Arrangement are met, it is expected that the Arrangement will close on August 5, 2014.

About Rio Alto Mining Limited

Rio Alto Mining Limited is a Canadian based resource company focused on the development of the 21,000 ha La Arena gold / copper project located in north central Peru, the most prolific gold mining district in the country that is home to a number of world-class gold mines. La Arena contains total measured and indicated resources of 5.2 million ounces gold comprised of 1.3 million gold ounces in the oxide resource (100.2 million tonnes at 0.41 g/t gold) and 3.8 million gold ounces in the sulphide resource (561.7 million tonnes at 0.21 g/t gold) and 3.7 billion pounds copper (561.7 million tonnes at 0.3% copper). First gold production at La Arena occurred on May 6, 2011 and 214,742 ounces of gold were poured in 2013. Rio Alto is also in the business of acquiring, exploring, and developing gold resources and advanced stage exploration projects in Peru and Latin America. Rio Alto has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Latin America. With a focused strategy of mine production and development and an exploration strategy to discover additional mineral resources, Rio Alto is strongly positioned to generate significant value for its shareholders. To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com or Rio Alto's SEDAR profile at www.sedar.com.