Mr. Alex Black reports

RIO2 LIMITED ISSUES SHARES IN LIEU OF SALARIES

In accordance with the shares for service agreements announced Jan. 25, 2023, and March 27, 2023, Rio2 Ltd. has agreed to issue 253,273 common shares at a deemed price of 38 cents per share to directors and officers of the company.

Under the shares for services agreements, the deemed price per common share to be issued will be no less than the volume-weighted average closing price of the company's common shares on the last three trading days of each quarter, provided that in any event, the price will not be lower than the discount permitted under applicable TSX Venture Exchange policies.

All securities issued pursuant to the shares for services agreements will be subject to a hold period of four months plus one day from the date of issuance thereof in accordance with applicable TSX Venture Exchange polices and Canadian Securities laws.

About Rio2 Ltd.

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 record.

We seek Safe Harbor.