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Rio2 Desalinated Water Update for Expansion of the Fenix Gold Mine
VANCOUVER, British Columbia, Sept. 24, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited (“ Rio2 &...
About this update from Rio2 Limited
[{"type":"text","content":"Rio2 Desalinated Water Update for Expansion of the Fenix Gold Mine\n\n\n\n VANCOUVER, British Columbia, Sept. 24, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited (“\n \n Rio2\n \n ” or “\n \n the Company\n \n ”) (TSX: RIO; OTCQX: RIOFF; BVL: RIO) announces today that following comprehensive and exhaustive due diligence and negotiations, Rio2’s Chilean subsidiary, Fenix Gold Limitada (“\n \n Fenix Gold\n \n ”), has signed two separate memorandum of understandings (an “\n \n MOU\n \n ”) with two companies that have desalinated water distribution facilities located in the Copiapo area, to undertake studies for the potential supply of desalinated water to the Fenix Gold Mine located in the Atacama Region, Chile. The studies will evaluate the potential expansion of their desalination facilities at operating plants and constructing a pipeline and associated infrastructure from their distribution facilities in Copiapo.\n \n\n Andrew Cox, President & CEO of Rio2, stated, “This is a significant milestone for the planned future expansion of the Fenix Gold Mine, and we are very pleased to have got to this position with the two potential water providers. This could be the first time desalinated water is transported from the coast to a high altitude mine in the Atacama Region of Chile. We are very happy to be at the forefront of this exciting project and look forward to turning it into a reality.”\n \n\n Alex Black, Executive Chairman of Rio2, stated, “I am very proud of the work that Andrew and the entire Fenix Gold senior management team have completed over the past several months to achieve this important milestone. With first gold production guided for January 2026, the next five years of our activities at Fenix Gold will be both exciting and transformational for the Company.”\n \n\n Both water companies will be required to first complete a 4-month conceptual study for the potential supply of water. At the end of this 4-month study period, Fenix Gold will analyze each study submission and select the preferred water provider who will develop a feasibility study for the preferred option to supply desalinated water to the Fenix Gold Mine.\n \n\n Once the feasibility study has been completed, and internal approvals are secured, Fenix Gold and the selected pr...