Rio2 Limited's Fenix Gold Project EIA Not Approved
is well supported by the position from the Environmental Assessment Service with the following favorable key considerations: The Project fulfills all the applicable regulations and meets the environmental requirements for the granting of applicable sectorial permits. Fenix Gold has satisfactorily completed the 1 Participación Ciudadana Consulta Indígena processes. The Fenix Gold Project is an example of modern gold mining where a full complement of technical, environmental, and social considerations have been consulted on and designed in from the outset. The Project represents a significant investment in the gold mining business in Chile by a junior mining
company and will generate employment for approximately 1,200 people during the construction phase and 550 people during the 17 years' operations phase. The mine being contemplated at the Project will be a run-of-mine heap leach operation, no crushing or tailings storage facilities are required thereby minimizing the overall impact and footprint of the project.