VANCOUVER, British Columbia, Feb. 20, 2026 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSX: RIO; OTCQX: RIOFF; BVL: RIO) is pleased to announce that its executive team lead by Alex Black, Executive Chairman of the Board, and Andrew Cox, President & CEO, will attend BMO’s 35th Global Metals, Mining, and Critical Minerals Conference next week in Hollywood, Florida, to discuss its future growth plans for the Fenix Gold Mine and the newly acquired Condestable Mine. Rio2 is set to present on Wedn ...

Core Viewpoint - Rio2 Limited has successfully acquired a 99.1% interest in the Condestable mine in Peru, marking a significant step towards becoming a diversified and profitable Latin American miner [1][2]. Acquisition Details - The acquisition was completed under a definitive share purchase agreement dated December 8, 2025, with Rio2 acquiring all issued and outstanding shares of certain subsidiaries of Southern Peaks Mining L.P., which holds the interest in Condestable [3]. - The acquisition is subject to final approval from the Toronto Stock Exchange [4]. Operational Insights - The operational record of the Condestable Mine over the past twelve years has been described as exemplary, with an expected integration process taking approximately six months [2]. - The target annual production for the Condestable mine is set at around 27,000 tonnes of copper equivalent [2]. Financial Aspects - To fund the acquisition, Rio2 closed a bought deal financing of 86,094,750 subscription receipts at an issue price of C$2.22 per receipt, resulting in gross proceeds of C$191,130,345 [6]. - The proceeds from the equity financing will be used for working capital and general corporate purposes, with part allocated to the cash consideration for the acquisition [7]. Vendor Debt - As part of the acquisition closing, Rio2 delivered a secured promissory note of US$55 million and a subordinated mezzanine promissory note of US$10 million to Southern Peaks, both with six-year terms [10]. Company Overview - Rio2 is focused on building and operating mines, currently producing gold at its Fenix Gold heap leach mine in Chile and copper/gold/silver at the newly acquired Condestable mine [12]. - The company emphasizes high environmental standards and responsible development in its operations [12].

Core Viewpoint - Sable Resources Ltd. has received near unanimous approval from shareholders for a new omnibus equity incentive plan, which aims to provide more flexibility compared to previous plans [1][2]. Group 1: Equity Incentive Plan - The new Equity Incentive Plan allows the company to grant options, restricted share units, performance share units, and deferred share units, offering greater flexibility than the Legacy Plans [2]. - The plan is a rolling plan, with a maximum issuance limit of 10% of the company's issued and outstanding common shares at the time of grant [2]. - The Legacy Plans will continue to govern outstanding options and restricted share units previously granted, but no new awards will be issued under those plans [3]. Group 2: Company Overview - Sable Resources Ltd. is a well-funded junior grassroots explorer focused on discovering Tier-One precious metal and copper projects in established mining jurisdictions [4]. - The company is actively exploring a large portfolio of new Greenfields projects, including the San Juan Regional Program in Argentina and several properties in British Columbia [4].