Rio2 Provides Fenix Gold EIA Plan Update

About this update from Rio2 Limited

[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or “the Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) is providing an update of its activities following the announcement made on July 5, 2022, with respect to the Atacama Regional Evaluation Commission’s decision not to approve the Environmental Impact Assessment (“EIA”) for its Fenix Gold Project (“the Project”) in Chile. The Environmental Qualification Resolution (“RCA”) which is the administrative document with which the Environmental Assessment Service (“SEA”), outlines the rationale for their decision, was issued on July 19, 2022. Since the receipt of this document, the Company, along with its Chilean environmental and legal advisors, have been evaluating options to continue to advance the Project. On review of the RCA, Rio2 has identified numerous discrepancies with factual and procedural matters in the RCA, which it believes provides grounds for a strong case for the decision to be reviewed in a non-judicial administrative appeal before a Committee of Ministries. The Committee of Ministries is composed of the Ministries of Environment (Chairman), Health, Economy, Agriculture, Energy and Mining. The national director of SEA is the secretary of the Committee. After a thorough review of the RCA, in collaboration with the Company’s external legal counsel and environmental consultants, Rio2 maintains its conviction that during the environmental assessment process of the Fenix Gold Project’s EIA, the Company provided all the information requested by the different agencies and addressed, with the highest technical standards, the observations raised during the process. It should be noted that on completion of the rigorous EIA process, 18 agencies issued their technical conformity to the Project. Furthermore, Rio2 is particularly proud of its social engagement strategy over the past four years that paved the way for the successful completion of the Participación Ciudadana (Public Consultation) and Consulta Indígena (Indigenous Consultation) processes resulting in favorable agreements with the indigenous communities directly impacted by the Project. Based on the findings of the RCA review, Rio2’s local subsidiary Fenix Gold Limitada (“Fenix Gold”) decided to exercise its right to file an administrative appeal before the Ministries Committee and f...

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