SURFACE

Rio2 names Fenix contractors

Canadian Rio2 Ltd. has named lead contractors for developing its Fenix gold project in Chile, for which it plans first gold production late in the second half of 2022.

 Rio2's Fenix gold project in Chile

Rio2's Fenix gold project in Chile

Rio2 Limited ("Rio2" or "the Company") (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) today announces that it has taken another key step towards the development of its Fenix Gold Project ("the Project") located in Chile by selecting the following lead contractors:

The company has selected HLC Ingeniería y Construcción as the lead for building the process plant and site infrastructure, Anddes Asociados S.A.C. for the leach pad and civil design work, and STRACON S.A. is taking on the earthmoving and civil construction work.

The parties had already been working exclusively over the past few months with Rio2 management to detail all project engineering items related to the construction of the Fenix mine.

Detailed engineering activities for the construction work are scheduled to be completed in early November in preparation for project financing.

STRACON has already secured the role of lead mining contractor.

The Fenix gold project continues to advance as scheduled.

Rio2 said Fenix has recently been included in a list of 220 multi-sector projects to be prioritized by the Office of Sustainable Project Management - part of the Chilean Ministry of Economy. 

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