Rio Alto Mining, resultados del año 2012

Corporate PresentationFebruary 2013

“Leading by Example”

TSX: RIO BVL: RIO NYSE: RIOM FSE: MS2

Cautionary Statement

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Certain statements contained in this presentation may constitute forward‐looking statements. These statements relate to future events or the future performance of Rio Alto Mining Limited (“RioAlto”). All statements, other than statements of historical fact, may be forward‐looking statements. Forward‐looking statements are often, but not always, identified by the use of words such as"seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", “propose”, "potential", "targeting", "intend", "could", "might", "should", "believe" and similarexpressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. Rio Alto believes that the expectations reflected in those forward‐looking statements are reasonable but no assurance can be given that these expectations will prove to becorrect and such forward‐looking statements included in this presentation should not be unduly relied upon by investors as actual results may vary. Unless required to be updated pursuant tosecurities laws, these statements speak only as of the date of this presentation and are expressly qualified, in their entirety, by this cautionary statement. This Presentation also discloses mineralresources. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

In particular, this presentation contains forward‐looking statements, pertaining to the following:• capital expenditure programs and cash flow estimates;• development of deposits, resources and reserves;• treatment under regulatory regimes;• treatment under taxation regimes or other government financial regimes;• expectations regarding Rio Alto’s ability to raise capital; complete the feasibility study for the La Arena sulphide project;• work plans to be conducted by Rio Alto, and• the production of gold and copper from Rio Alto´s La Arena Project.

With respect to forward‐looking statements listed above and contained in this presentation, Rio Alto has made assumptions regarding, among other things:• the legislative and regulatory environment;• the impact of increasing competition;• current technological trends;• unpredictable changes to the market prices for gold and copper;• that costs related to development of the gold and copper properties and the development of gold and copper production projects will remain consistent with historical experiences;• anticipated results of exploration and development activities; and•Rio Alto’s ability to obtain additional financing on satisfactory terms.

Rio Alto’s actual results could differ materially from those anticipated in these forward‐looking statements as a result of the risk factors set forth below and elsewhere in this presentation:• uncertainties regarding the regulatory regime and the application approval process;• volatility in the market prices for gold and copper;• uncertainties associated with estimating and developing resources;• geological, technical, construction and processing problems;• liabilities and risks, including environmental liabilities and risks, inherent in developing gold and copper production projects;• fluctuations in currency and interest rates;• competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; and• unpredictable weather conditions.

Rio Alto’s plans and results could differ materially from those anticipated in these forward‐looking statements as a result of these risk factors set forth above. Rio Alto recommends that you alsoreview its most recent Annual Information Form and Annual MD&A for a discussion of other material risks that could cause actual results to differ significantly from current expectations. Rio Altoalso cautions that mineral resources that are not mineral reserves do not have demonstrated economic viability.

Certain technical and scientific information contained in this presentation has been taken from the La Arena Project, Peru ‐ Technical Report (the “July 2010 Report”) with effective date of July 31,2010, prepared by Coffey Mining Pty Ltd. (“Coffey Mining”) on behalf of Rio Alto Mining Limited or is based upon supporting documentation provided by Coffey Mining. A copy of the TechnicalReport is available on Rio Alto’s SEDAR profile at www.sedar.com. This presentation also includes updated resource estimates dated effective September 30, 2011 in respect of the oxide andsulphide projects that comprise La Arena Project. A technical report which provides for these updated resource estimates has been filed on Rio Alto’s SEDAR profile. The technical and scientificinformation contained in this presentation has been reviewed and verified by Mr. Enrique Garay, M Sc., P. Geo (AIG Member), Vice President Geology of Rio Alto, the Qualified Person (as defined byNI 43‐101) responsible for managing Rio Alto’s exploration programs and disclosure of drilling results, and by Mr. Ian Dreyer, B.App. Sc. (AUSIMM 305241,CP), a Qualified Person (as defined by NI 43‐101), formerly of Coffey Mining, who designed and reviewed Rio Altos’ Quality Control and Assurance Program and prepared the updated resource estimates.


Capital Structure

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TSX: RIOBVL: RIONYSE: RIOMFrankfurt FSE: MS2

Shares Issued (January 21, 2013): 175.8 million

Warrants Outstanding Nil

Options Outstanding: (Av. Exercise Price – C$ 2.03) 7.8 million

Fully Diluted: 183.6 million

Share Price: C$4.64as at 22/02/2013

Market Cap (issued capital): approx. C$ 815.7 million

35% ‐ Peru28% ‐ Canada / Europe15% ‐ Sentry Capital 9% ‐Management7% ‐ JP Morgan 6% ‐ IAMGOLD


Share Price Performance & History

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C$8.5M @ C$0.75 / share

C$7.7M @ C$0.76 / share

C$20.3M @ C$1.68 / share

C$57.5M @ C$2.05/ share

EIA Approved

Gold Prepayment FacilityNegotiated

First Gold Production

30 day moving average90 day moving average

Resource Update

ANALYST COVERAGE

GMP Securities George Albino +1 416 943 6187BMO Nesbitt Burns Inc Brian Quast +1 416 359 6824CIBC World Markets Inc. Matthew Gibson +1 416 956 6729Scotia Capital Mark Turner +1 416 863 7484Clarus Securities Inc Mike Bandrowski +1 416 343 3352Stonecap Securities Inc Christos Doulis +1 416 342 9992Dundee Securities Inc Dale Mah +1 604 647 2878Desjardins Capital Markets Adam Melnyk +1 416 607 3081 Euro Pacific Capital Inc Heiko Ihle +1 800 727 7922Kallpa Securities SAB Humberto Leon +51 1 630 7500Loeb Aron & Company Limited Jonathan Richards +44 207 628 1128

200,000 oz pouredsince first gold production

Entry to S&P / TSX index

NYSE Listing


Gold Prepayment Facility

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Amount US$50 million

Due Date October 2014

Total Obligation

Price Range

Status (as at 25/02/13)

61,312 “notional” ozs

$1,450 repay 85% of ozs

36,079 notional ozs repaid25,233 notional ozs owing

Min ozs 52,115Max ozs 70,509

$950 repay 115% of ozs

Min ozs owing 21,448Max ozs owing 29,018

Payments for both tranches made through to October 2013


La Arena ‐ Location

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• Located in a gold mining district in north central Peru

• 3.5 hour drive from Trujillo, on mostly paved road

• Land package – approx 27,000 ha• Altitude 3,400m above sea level• 18 km east of Barrick´s Lagunas Norte Gold

Mine• 10km north of La Virgen Gold Mine owned

by Cia Minera San Simon • Strong community support• No agriculture• Excellent infrastructure


La Arena Land Package

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27,000 hectares

La Arena Project – 1000 hectaresMeasured & Indicated: 3.9 M oz Au & 2.0 Bn lbs Cu

Inferred: 2.2 M oz Au & 2.1 Bn lbs Cunumbers rounded – updated Jan 2012

Au Exploration Targets

26,000 hectare packageTargets:

• La Colorada• Agua Blanca• Maria Angola• Pena Colorada• Astrid• San Andres


• First gold oxide production May 6, 2011 – 10 months after EIA

• Production for 2012: 201,113 ounces of gold

• Guidance for 2013: 190 – 210,000 ounces of gold

• Oxide ore production – expanded to 36,000 tpd

• Oxide gold production for 5 to 7 years, sulphide Cu/Au production for + 20 years from 2016 – resource / reserve update Q1

• Internal Feasibility Study Phase II Cu/Au project – est. completion 2013

• Extensive exploration program on 27,000 ha property – ongoing

• Proactive explortion strategy – regional and rest of Peru

• Refer to Coffey Mining 2010 Technical Report conclusions section 1.13

Why Invest in Rio Alto?

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Gold Production & Guidance

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Production & Sales

Production 2012 201,113 ozs

Production Guidance 2013 190 – 210,000 ozs

Costs Peru Cash Cost*

Actual YTD 2012 (September) US$ 532 / oz

Guidance for 2012 US$ 500 to US$ 550 / oz

Guidance for 2013 US$ 675 to US$ 725 / oz

Cash on‐hand is US $62.0 M

* Cash cost and total cash cost per ounce sold are non‐GAAP (non‐IFRS) measures used by management to evaluate operating performance and used by some investors as anindicator of a company’s future cash generating capability. Cash cost and total cost per ounce sold should not be considered as a substitute for GAAP performance measuresnor should they be considered in isolation.

($ 000’s) $ per ozMine site costs 79,814 513Lima office 2,922 19Cash Cost 82,736 532Head office 2,695 17Peru Taxes 50,431 324Exploration & CapexTotal Costs

74,651210,513

4801,353

YTD (Q1 – Q3) Cash cost per ounce andTotal Cost per ounce sold consist of:


Production Statistics

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Q1 Q2 Q3 Q4 Total

Ore 2,176,000 3,536,000 4,073,000 3,632,000 13,417,000

Au g/t 0.50 0.47 0.56 0.61 0.54

Waste 6,125,000 5,923,000 5,467,000 5,858,000 23,373,000

Strip Ratio 2.81 1.68 1.34 1.61 1.74

Ounces Poured 33,948 43,605 63,820 58,808 200,181

2013 Guidance

2012 ActualOre 7,979,593

Au g/t 0.84

Waste 12,953,447

Strip Ratio 1.62

Ounces Poured 201,113


Metallurgical Test Work (pre‐production)

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PILOT SCALE COLUMN LEACH TEST RESULTS

CALAORCO PIT ETHEL PITRecovery (Au) 84% 93%Leaching (Days ) 30 30Granulometry ROM ROMGrade Au (g/TM): 1,29 0,64Cyanide (Kg/TM): 0,1 0,1Lime (Kg/TM): 1,5 0,8Density of mineral: 1,69 1,69

PILOT SCALE COLUMN LEACH TEST RESULTS

CALAORCO PIT ETHEL PITRecovery (Au) 84% 93%Leaching (Days ) 30 30Granulometry ROM ROMGrade Au (g/TM): 1,29 0,64Cyanide (Kg/TM): 0,1 0,1Lime (Kg/TM): 1,5 0,8Density of mineral: 1,69 1,69

Photo ‐ Feb 2012

TSX: RIO BVL: RIO NYSE: RIOM FSE: MS2 13

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La Arena Monthly Production 2011 ‐ 2012

Cumulativ on Pad Cumulative Produced OZ on PAD OZ Produced

Delivered to pad; 259,097ozProduced; 229,804oz

Recovery; 88.7%

Metallurgical Recovery


High Grade Zone and Discrete High Grade Structures

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PORPHYRY

HIGH GRADE ZONE(Approx. 1g/t Au)

CALAORCO PIT

HIGH GRADE NW STRUCTURES (Upwards of 100g/t over

10‐20cm widths)

DEPTH POTENTIAL

WEST WALL

Looking SE


La Arena – Social & Community

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La Arena – Environment

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Reclamation work on waste dump No. 1Reclamation work on waste dump No. 1


La Arena – Gold Oxide Mine

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Layout from July 2010 Report

Final Pad Limit


Expansion to 36,000 tonnes per day completed

La Arena – Gold Oxide Mine (cont.)

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Calaorco Pit

Leach Pad

Ethel Pit

PLS Pond

Process Plant

Major Events Pond



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Expansion to 36,000 tonnes per day completed

21 CAT777 Dump Trucks3 RH90 Excavators



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Calaorco Pit Panorama – October 2012

Calaorco Pit – November 2012


La Arena –Waste Dump 2 Preparation

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Waste Dump 2 – January 2013

Under‐pass Construction


• Starter project sizing options – objective : MINIMIZE INITIAL CAPEX

• Maintain a low profile and expectations whilst planning to locate as much of Phase 2 project within current EIA boundary

• Internal Feasibility Study underway

• Current timing for FS completion – Q3 2013

• 187M tonne reserve grading 0.38% Cu, 0.29 g/t Au (July 2010 Report)

• Projected 21 year life of mine at 24,000 tpd throughput (July 2010 Report)

• Clean copper concentrates with a gold credit – FS met testwork in process

• Projected Production ‐ 60M lbs of copper and 31,200 oz of gold annually(July 2010 Report)

La Arena – Phase 2 (un‐optimized)

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La Arena – Phase 2 (un‐optimized)

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Conceptual Starter Pits

Current EIA Boundary

Conceptual Plant Site

Conceptual Starter Tailings Area

Conceptual Phase 2 Waste Dump


Phase 2 – Conceptual Starter Pits

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40Mt pit 150Mt pitSECTION 9127000 N


40Mt pit 150Mt pit

Phase 2 – Conceptual Starter Pits

SECTION 9126500 N


La Arena – Geology

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July 2010 Report – Reserve Pit Shell


La Arena – Cu/Au Sulphide Exploration

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Agua Blanca copper anomaly (approx 3km x 2km) – not drilled

3 Cu Porphyry Targets

La Arena – Inferred resourceconversion, edge definition & depth potential

El Alizar – 12 drillholesby Cambior


27,000 ha with multiple gold oxide exploration targets

La Arena ‐ Au Oxide Exploration

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La Colorada – Priority #1 oxide gold target

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Regional and Peru Exploration

10,000 ha within 30km of La Arena

La Libertad Department

Santa Barbara ResourcesEarn‐in

Ayacucho Department

Duran Ventures Earn‐in

Huancavelica DepartmentMoquegua Department

Rio Alto Mining, resultados del año 2012

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