Rio2 Completes Acquisition of the Condestable Mine

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• Rio2 sees the Acquisition as a positive step for the Company in its quest to become a diversified and highly profitable Latin American miner

  80% confidence

• The acquisition of the Condestable Mine is the result of six months of rigorous due diligence and negotiations with Southern Peaks

  80% confidence

• The operational record of the Condestable Mine over the past twelve years has been exemplary

  80% confidence

• Target annual production currently set at around 27,000 tonnes of copper equivalent

  80% confidence

• Rio2 looks forward to continuing to capitalize on this solid foundation and grow resources/reserves and production over the coming years

  80% confidence

• Southern Peaks has put the mine on a strong footing during its twelve years of ownership

  80% confidence

• The integration process of Condestable with Rio2 is expected to take approximately six months as we rationalize and optimize the management team

  80% confidence