Acquisition of the Producing Condestable Mine

planned

Rio2 Limited has entered into a definitive agreement to acquire a 99.1% interest in the Condestable mine, a producing underground copper operation located in Peru. The acquisition positions Rio2 as a diversified Latin American gold miner with copper exposure. The transaction includes upfront cash, vendor debt financing, common shares issuance, and deferred consideration. The Condestable mine has expansion potential and a reserve life of over ten years, with plans for further production expansion and studies.