VANCOUVER, British Columbia, May 16, 2024 (GLOBE NEWSWIRE) -- Rio2 Limited ("Rio2" or the "Company") (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) announces the results of voting at its Annual and Special General Meeting of Shareholders (the "Meeting") held May 15, 2024. A total of 115,981,552 common shares were voted, representing 44.68% of 259,568,913 shares issued and outstanding as of the record date of the Meeting.

Shareholders voted in favour of all items of business before the Meeting, including the election of all director nominees as follows:

At the Meeting, shareholders also approved and ratified the 2023 Rio2 Stock Option Plan and approved amendments to the Company's Share Incentive Plan as more thoroughly described in the April 2, 2024 information circular mailed to shareholders and filed on Sedar+ (the "Information Circular"). The full version of the Stock Option Plan and Amended Share Incentive Plan can be obtained directly from the Company by sending a written request to info@rio2.com.

Shareholders also approved the security-based compensation to non-arm's length parties as previously announced on January 29, 2024. Further disclosure on the Security-based compensation can be found in the Information Circular.

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 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. Rio2 and its wholly owned subsidiary, Fenix Gold Limitada, are companies with the highest environmental standards and responsibility with the firm conviction that it is possible to develop mining projects that respect the three pillars (Social, Environment, Economics) of responsible development. As related companies, we reaffirm our commitment to apply environmental standards beyond those that are mandated by regulators, seeking to protect and preserve the environment of the territories that we operate in.

To learn more about Rio2 Limited, please visit: or Rio2's SEDAR+ profile at .

ON BEHALF OF THE BOARD OF RIO2 LIMITED

Alex Black
Executive Chairman
Email: alex.black@rio2.com
Tel: +51 99279 4655

Kathryn Johnson
Executive Vice President, CFO & Corporate Secretary
Email: kathryn.johnson@rio2.com
‎Tel: +1 604 762 4720‎

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.