GlobeNewswire·Dec 11, 2025, 5:47 PM ET

Rio2 Announces Filing of Prospectus Supplement in Connection with Previously Announced "Bought Deal" Equity Financing

Rio2 Limited filed a Prospectus Supplement on December 10, 2025, to qualify the public distribution of 74,865,000 Subscription Receipts at $2.22 each.
The equity financing & acquisition of the Condestable mine in Peru are being executed through a previously announced "bought deal".
Underwriters have a 30-day over-allotment option to purchase up to 15% additional Subscription Receipts at $2.22 per unit for market stabilization.
Closing of the Equity Financing is expected on or about December 15, 2025, subject to TSX approval & other customary conditions.
Rio2 has entered a definitive agreement to acquire a 99.1% interest in the Condestable mine located in the Lima Department of Peru.
A NI 43-101 technical report on the Condestable Mine dated April 12, 2024, is available on SEDAR+ & the company website.
The company plans to post a corporate presentation regarding the transaction upon closing the equity financing.
This offering is restricted from distribution in the United States & the common shares are not registered under the U.S. Securities Act of 1933.
Rio2 remains focused on developing the Fenix Gold Project in Chile while pursuing responsible mining standards.
The press release contains forward-looking statements regarding transaction completion, financial projections, & operational expectations.