Core Viewpoint - Royal Road Minerals Limited has successfully closed a non-brokered private placement offering, raising gross proceeds of $5 million through the issuance of 27,772,523 ordinary shares at a price of $0.18 per share [1][5]. Group 1: Offering Details - The offering was conducted under the LIFE Exemption, allowing shares to be sold without a hold period under Canadian securities laws [2]. - The offering attracted significant interest from both existing and new investors [2]. - The largest shareholder, Rio2 Limited, retains approximately 15% equity stake in Royal Road after the offering [3]. Group 2: Financial Aspects - The company paid cash commissions totaling $251,319.23 and issued 1,396,215 broker warrants, each allowing the purchase of one share at $0.18 for 36 months [4]. - The net proceeds from the offering will be allocated to expand drilling programs in Colombia and Saudi Arabia [5]. Group 3: Regulatory Compliance - The offering constituted a related party transaction, with insiders subscribing for 4,502,223 shares, relying on exemptions from certain regulatory requirements [6]. - The securities issued are not registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an exemption [7]. Group 4: Company Overview - Royal Road Minerals is a mineral exploration and development company focused on discovering and developing copper and gold deposits with minimal environmental impact [8]. - The company operates in Saudi Arabia, Morocco, and Colombia, and is listed on multiple exchanges including TSX Venture Exchange and OTCQB [8].

Core Viewpoint - Rio2 Limited has received a final deposit of US$50 million from Wheaton Precious Metals International Ltd. to advance the Fenix Gold Project in Chile, which is a significant step in the project's development [1] Group 1: Fenix Gold Project Overview - The Fenix Gold Project is one of the largest undeveloped gold oxide heap leach projects in the Americas, with a Measured and Indicated mineral resource of 4.8 million ounces of gold [2] - The project represents an investment of approximately US$235 million in initial and sustaining capital, creating employment for at least 1,200 people during construction and 550 during the 17-year operational phase [2] - The mine will utilize a run-of-mine heap leach operation, minimizing environmental impact by eliminating the need for crushing or tailings storage facilities [2] Group 2: Company Profile - Rio2 is focused on developing and operating mining projects with a commitment to high environmental standards and responsible development [4] - The company aims to bring the Fenix Gold Project to production in the shortest possible timeframe through a staged development strategy [4] - Rio2 and its subsidiary, Fenix Gold Limitada, emphasize the importance of social, environmental, and economic considerations in their operations [4]

Core Points - Rio2 Limited provides an update on the Fenix Gold Project, which is 63% complete and on track for first gold production in January 2026 [1][3] Construction Progress - As of Q3 2025, a total of 1,865,791 person-hours have been worked with a Lost Time Incident Frequency Rate (LTIFR) of 1.61 and a Total Incident Frequency Rate (TIFR) of 8.58 [2] - Total expenditure since November 2024 is $86.7 million, slightly above the budget of $86.6 million [3] - 12.7 hectares of geosynthetics have been installed on the leach pad, ensuring six months of production capacity [4] - Mining of ore began in August, with 87,000 tonnes of ore placed on the leach pad at an average gold grade of 0.45 g/t, equating to 1,260 ounces [5] Infrastructure Development - The Pregnant Leach Solution (PLS) pond is complete and ready for hydrostatic testing, with water trucking initiated to fill the pond by mid-November [6] - Haul Road 1 is complete, and Haul Road 4 is largely finished [6] - Key components of the Adsorption, Desorption, Recovery (ADR) Plant have been installed, including diesel generators and reactors for chemical reactivation [7] Human Resources - The project currently employs 1,521 personnel, with 94% being Chileans, 44% from the Atacama Region, and 13% female [8] Exploration and Resource Management - Grade control drilling at Fenix South was completed in July, with preliminary analysis indicating close reconciliation of the grade control model to the reserve model [9] Future Milestones - Upcoming milestones include filling the PLS pond, leach process commissioning in November, plant commissioning in December/January, and the first gold pour in January 2026 [15]

Core Viewpoint - Rio2 Limited has acquired approximately 15.0% of Royal Road Minerals Limited's issued and outstanding shares, marking a significant investment and partnership opportunity for both companies [1][4]. Group 1: Acquisition Details - Rio2 acquired 39,855,000 ordinary shares of Royal Road at a price of $0.115 per share, totaling an investment of $4,583,325 [4]. - The acquisition was part of a block trade on the TSX Venture Exchange, transferring shares from a single investor to Rio2 and other institutional investors [2]. - Following the acquisition, Rio2 became an "insider" of Royal Road under applicable securities laws [1]. Group 2: Strategic Implications - Royal Road's President and CEO expressed enthusiasm about the partnership, highlighting Rio2's strong track record in developing gold projects and their alignment with Royal Road's growth ambitions [3]. - Rio2's Executive Chairman emphasized the geological attractiveness of Royal Road's portfolio and the potential for future diversification and growth opportunities [3]. - An Investor Rights Agreement allows Rio2 to maintain its ownership percentage and designate a nominee for Royal Road's board of directors, provided it holds at least 9.5% of the shares [3]. Group 3: Company Profiles - Royal Road Minerals is focused on mineral exploration and development, with operations in Saudi Arabia, Morocco, and Colombia, aiming to discover and develop large-scale copper and gold deposits [8]. - Rio2 Limited is a mining company concentrating on the development of its Fenix Gold Project in Chile, committed to high environmental standards and responsible mining practices [9].

Core Viewpoint - Rio2 Limited has acquired approximately 15.0% of Royal Road Minerals Limited's issued and outstanding shares, marking a significant investment and partnership opportunity for both companies [1][4]. Company Acquisition Details - Rio2 acquired 39,855,000 ordinary shares of Royal Road at a price of $0.115 per share, totaling an investment of $4,583,325 [4]. - The acquisition was part of a block trade on the TSX Venture Exchange, transferring shares from a single investor to Rio2 and other institutional investors [2]. Strategic Partnership Insights - Royal Road's President and CEO, Tim Coughlin, expressed enthusiasm about the partnership, highlighting Rio2's strong track record in developing gold projects and their alignment with Royal Road's growth ambitions [3]. - Alex Black, Executive Chairman of Rio2, emphasized the geological attractiveness of Royal Road's portfolio and the potential for future diversification and growth opportunities [3]. Investor Rights Agreement - An Investor Rights Agreement was established, allowing Rio2 to maintain its ownership percentage and participate in future equity financings, as long as it holds at least a 9.5% interest in Royal Road [3]. - Rio2 is entitled to designate one nominee for election to Royal Road's board of directors, contingent on maintaining its ownership stake [3]. Company Profiles - Royal Road Minerals is focused on mineral exploration and development, with operations in Saudi Arabia, Morocco, and Colombia, aiming to discover and develop large-scale copper and gold deposits [7][8]. - Rio2 Limited is dedicated to developing its Fenix Gold Project in Chile, emphasizing responsible mining practices and environmental standards [8].

Core Viewpoint - Rio2 Limited's Chilean subsidiary, Fenix Gold Limitada, has signed two MOUs with companies for the potential supply of desalinated water to the Fenix Gold Mine, marking a significant milestone for the mine's expansion [1][2]. Company Developments - The MOUs will lead to studies evaluating the expansion of desalination facilities and the construction of a pipeline to supply water to the mine [1][3]. - A 4-month conceptual study will be conducted by the water companies, after which Fenix Gold will select a preferred provider to develop a feasibility study [2][3]. - The Fenix Gold Mine aims for an expanded production rate of 80,000 tonnes of ore per day, targeting at least 300,000 ounces of gold annually for approximately 10 years [4]. Project Details - The Fenix Gold Project is one of the largest undeveloped gold oxide heap leach projects in the Americas, with a Measured and Indicated mineral resource of 4.8 million ounces of gold [5]. - The project represents a significant investment of approximately US$235 million, expected to create 1,200 jobs during construction and 800 jobs during the 17-year operational phase [5]. - The mine will utilize a run-of-mine heap leach operation, minimizing environmental impact by not requiring crushing or tailings storage facilities [5]. Timeline for Expansion - Key milestones include: - Completion of a pre-feasibility study by Q1 2026 - Mineral reserve and resource update by Q4 2026 - Completion of a feasibility study by H2 2027 - Capital expenditure approvals by Q1 2029 - Completion of desalinated water supply works by H2 2030 - Ramp-up to higher production rates by H2 2030 [6].

Company Overview - Rio2 is currently constructing a gold mine in Chile, specifically the Fenix Gold Project, which is 11 months into a 14-month construction schedule [2][3] - The Fenix Gold Project is located in the Atacama region of Chile and has a resource estimate of 4.8 million ounces of gold at a price of $1,800 per ounce, along with 1 million ounces of inferred material [3] Project Development - The company is employing a staged development approach, starting with an initial capacity of 20,000 tonnes per day, which is water-restricted, and plans to expand to 80,000 tonnes per day to realize the project's full potential [3][4] - The Fenix Gold Project is noted to be one of the largest oxide resources globally [3]

Group 1 - Rio2 Limited has granted a total of 1,730,000 restricted share units to executive officers and directors, which are subject to vesting provisions under the Company's Share Incentive Plan [1] - The Company has also granted 400,000 stock options to certain executive officers, exercisable at a price of C$1.84 per share, with a five-year expiration from the grant date [2] - Rio2 is focused on developing its Fenix Gold Project in Chile, aiming for production in the shortest possible timeframe through a staged development strategy [3] Group 2 - Rio2 Limited emphasizes its commitment to high environmental standards and responsible development, aiming to protect and preserve the environment in the territories where it operates [3]

Core Viewpoint - Rio2 Limited is progressing well with its Fenix Gold Project in Chile, with construction 41% complete and on track for first gold production in January 2026 [1][3]. Construction Update - The project has recorded 1,270,141 person-hours worked with a Lost Time Incident Frequency Rate (LTIFR) of 0.79 and a Total Incident Frequency Rate (TIFR) of 6.30 as of June 30, 2025 [2]. - Total expenditure since October 2024 is $56.4 million against a budget of $57.8 million, excluding corporate overheads and pre-construction costs from 2022 [3]. - Key construction milestones include the installation of 12.7 hectares of geosynthetics at the leach pad and 4 hectares of overliner material, ready for mineral placement in August 2025 [4]. Infrastructure Development - Haul Road 1 is 90% complete, while Haul Road 4 is at 40% completion, both crucial for connecting the Fenix South pit to the leach pad [5]. - The ADR Plant's structural assembly is complete, with building cladding at 90% [5]. - The first of three electrical switch rooms is being transported to the project site [6]. Human Resources - The project currently employs 1,514 personnel, with 94% being Chilean and 41% from the Atacama Region; 10% of the workforce is female [6]. Exploration Activities - Grade control drilling activities are nearing completion, focusing on the pit areas for the first three years of production, with results expected by the end of September [7]. Upcoming Milestones - Key upcoming milestones include the start of mineral stacking on the leach pad and finalization of the PLS pond in August 2025, commissioning of the ADR Plant in November 2025, and the first gold pour in January 2026 [13]. Corporate News - Rio2 has received conditional approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange, with final approval pending [9]. - The company has published its 2024 ESG Report, highlighting its commitment to responsible mining practices [10]. Project Overview - The Fenix Gold Project is one of the largest undeveloped gold oxide heap leach projects in the Americas, with a Measured and Indicated mineral resource of 4.8 million ounces of gold [11]. - The project represents a significant investment of approximately $235 million, generating employment for at least 1,200 people during construction and 800 during operations [11].

Core Viewpoint - Rio2 Limited has received a third deposit payment of US$50 million from Wheaton Precious Metals International Ltd, which will be utilized to advance the construction of the Fenix Gold Project in Chile [1] Group 1: Fenix Gold Project Overview - The Fenix Gold Project is one of the largest undeveloped gold oxide heap leach projects in the Americas, with a Measured and Indicated mineral resource of 4.8 million ounces of gold [2] - The project represents a significant investment of approximately US$235 million in the gold mining sector in Chile, creating employment for at least 1,200 people during construction and 550 during the 17-year operational phase [2] - The mining operation will be a run-of-mine heap leach operation, minimizing environmental impact as no crushing or tailings storage facilities are required [2] Group 2: Company Commitment and Standards - Rio2 is committed to high environmental standards and responsible development, aiming to respect social, environmental, and economic pillars [4] - The company focuses on a staged development strategy to bring the Fenix Gold Project to production in the shortest possible timeframe [4]