Fenix Gold EIA Meeting Postponed to July 5, 2022

VANCOUVER, British Columbia, July 01, 2022 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or “the Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) and its Chilean subsidiary, Fenix Gold Limitada (“Fenix Gold”) announce, that further to Rio2’s press release disseminated on June 23, 2022, the Environmental Assessment Service (“SEA”) has postponed the meeting of the Comisión de Evaluación Regional, where 11 governmental institutions with environmental competencies will vote to approve or disapprove the Environmental Impact Assessment (EIA) for the Fenix Gold project.

The meeting was originally scheduled for July 1, 2022, and a revised meeting date has been confirmed for Tuesday July 5, 2022.

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 addition 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 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 timing of the environmental review and permitting process with the SEA; ‎the potential development of a mine at the Fenix Gold Project; development and operating plans; 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 the environmental review and permitting process with the SEA;‎ 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.