TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2

1
EXPOBOLSA 2012
Rio Alto Mining: De Junior a Productor Minero
Leading by Example


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Cautionary Statement
2
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 (Rio
Alto). 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 similar
expressions. 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 be
correct 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 to
securities 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 mineral
resources. 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 Altos 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 Altos 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 Altos ability to obtain additional financing on satisfactory terms.
Rio Altos 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 Altos 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 also
review 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 Alto
also 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 Technical
Report is available on Rio Altos SEDAR profile at www.sedar.com. This presentation also includes updated resource estimates dated effective September 30, 2011 in respect of the oxide and
sulphide projects that comprise La Arena Project. A technical report which provides for these updated resource estimates has been filed on Rio Altos SEDAR profile. The technical and scientific
information 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 by
NI 43-101) responsible for managing Rio Altos 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.



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
La Arena - Location
3
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 Barricks Lagunas Norte Gold
Mine
10km north of La Virgen Gold Mine owned
by Cia Minera San Simon
Strong community support
No agriculture
Excellent infrastructure


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
La Arena Land Package
4
27,000 hectares
La Arena Project 1000 hectares
Measured & Indicated: 3.9 M oz Au & 2.0 Bn lbs Cu
Inferred: 2.2 M oz Au & 2.1 Bn lbs Cu
numbers rounded updated Jan 2012
Au Exploration Targets

26,000 hectare package
Targets:
La Colorada
Agua Blanca
Maria Angola
Pena Colorada
Astrid
San Andres


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Land Package 27,000 ha
5


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
MINADO

Rio Alto Mining: De Junior a Productor Minero

6
BENEFICIO
RELACIONES COMUNITARIAS
GESTIN
MANTENIMIENTO
MANTENIMIENTO -
ENERGIA
M. Porter (1997)
EXPLORACIN FINANCIAMIENTO


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
0
10000
20000
30000
40000
50000
60000
IAMGOLD
1996 - 2007
RIO ALTO
2010
RIO ALTO
2011
RIO ALTO
2012
OXIDOS
SULFUROS
7
VP / ENRIQUE GARAY
QP / IAN DRYER


Rio Alto Mining: De Junior a Productor Minero

I- RIESGO GEOLOGICO: BAJO
NO ES GREENFIELD (CAMBIOR/IAMGOLD)
20,000ml OXIDOS
35,000ml SULFUROS
II- INVERSION/CONOCIMIENTO ADICIONAL PROGRESIVO (STAGES)
AO 2010
9,000ml OXIDOS
AO 2011
20,000ml OXIDOS
30,000ml SULFUROS
AO 2012
40,000ml OXIDOS
60,000ml - SULFUROS


EXPLORACIN


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
La Arena Oxide v Sulphides
8
July 2010 Report
Pit Outline
Sulphide Core
Oxide Core


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
*
Projected Dating
#
Surface Dating
Alteration Dating
Alteration
Advance Argillic
Argillic
Strong Phyllic
Silica
Propylitic
Potasic
Weak Phyllic
Moderate Silica
Strong Silica
LOCAL GEOLOGY
Phreatic Breccia / Monomictic Breccia
Carbon
Quaternary
Feldspar Porphyry Andesitic
Dacitic Dike
Chimu Formation (Lower)
Chimu Formatio (Upper)
Oyon Formation
Santa - Carhuaz Formation
Feldspar Porphyry Dacitic 1
Feldspar Porphyry Dacitic 3
Feldspar Porphyry Dacitic 2
Hydrothermal Breccia
Structural
Lithology
Sedimentary Rocks
Igneous Rocks
Breccias
Pit outline
Sulphides
Oxides
Fault
Symbols
Anticline
Sincline
F
M
Rio Alto Drill Holes
Old Dril lHoles
(
Thrust Fault
( (
Overturned Thrust Fault
Epithermal HS
Au FeOx
(Phase I)
Porphyry
Cu-Au
(Phase II)
Hydrothermal
Alteration


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
High Grade Zone and Discrete High Grade Structures

10
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


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Section 9126000
11
Tilsa
Design Pit Calaorco
Current Topography
Original Topography
LEGEND
Looking North
Target at
depth
Current
Pit


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Resource in accordance with NI 43-101 January 2012:
12
La Arena - Resources
Resource Classification Mt Au (g/t) Cu (%) Ag (ppm) Mo (ppm) Au ('000 Oz)
Measured 9.8 0.67 0.01 0.6 6.9 210
Indicated 76.9 0.46 0.01 0.5 6.5 1,136
Measured+Indicated 86.7 0.48 0.01 0.5 6.6 1,346
Inferred 9.0 0.28 0.01 0.5 6.7 82
Resource Classification Mt Au (g/t) Cu (%) Ag (ppm) Mo (ppm) Au ('000 Oz)
Measured 0.5 0.66 0.06 0.7 36.0 11
Indicated 13.5 0.29 0.06 0.6 41.4 127
Meas+Indicated 14.0 0.31 0.06 0.6 41.2 138
Inferred 1.4 0.18 0.06 0.6 55.7 8
Resource Classification Mt Au (g/t) Cu (%) Ag (ppm) Mo (ppm) Au ('000 Oz)
Measured 10.3 0.67 0.01 0.6 8.3 221
Indicated 90.4 0.43 0.02 0.5 11.7 1,263
Meas+Indicated 100.7 0.46 0.02 0.5 11.4 1,484
Inferred 10.4 0.27 0.01 0.5 13.1 90
Resource Classification Mt Au (g/t) Cu (%) Ag (ppm) Mo (ppm) Au ('000 Oz) CuEq(%) Cu (000's lbs)
Indicated 312.7 0.24 0.29 0.7 42.9 2,422 0.48 2,007,000
Inferred 319.7 0.20 0.30 0.6 46.1 2,075 0.46 2,134,000
Oxide Mineral Resource Low Copper (Cu<300ppm ; Au>=0.1 g/t)
Oxide Mineral Resource High Copper (Cu 300ppm 1000ppm ; Au>=0.1 g/t)
Oxide Mineral Resource Total
Sulphide Mineral Resource
The January 2012 resource estimate
was prepared in conformity with
National Instrument 43-101 Standards
of Disclosure for Mineral Projects (NI
43-101). This estimate is
incorporated in a National Instrument
43-101 Technical Report with an
effective date of September 30, 2011
filed on SEDAR.

Mr. Ian Dreyer, B.App. Sc. (AUSIMM
305241,CP), a Qualified Person (as
defined by NI 43-101) of Andes Mining
Services S.A.C., prepared this updated
resource estimate.



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 13
40Mt pit 150Mt pit
Phase 2 Conceptual Starter Pits
SECTION 9126500 N


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
0
5000
10000
15000
20000
25000
30000
35000
40000
2011 - PILOTAJE
(MAYO)
2012
(OCTUBRE)
2012
(DICIEMBRE)
2013
CAPACIDAD (tpd)
14
I- CAPEX INICIAL MINIMO
CONCEPTO DE ALIANZA
(LA ARENA + STRACON/GYM)
ESQUEMA DE COMPENSACIN:
COST PLUS / NO PRECIOS UNITARIOS
META ANUAL COSTO UNITARIO - GAIN/PAIN SHARES
PLANEAMIENTO CONJUNTO
INVERSION EQUIPO 100% - STRACON/GYM + 50 US$ MM (2012)
II- CURVA DE APRENDIZAJE ADQUIRIDA

III- CRECIMIENTO PROGRESIVO (STAGES)
10,000/20,000/24,000/36,000 tpd

VP / TIM WILLIAMS
QP / LINTON KIRK


Rio Alto Mining: De Junior a Productor Minero

51,395.82 oz Au
174,259.29 oz Au
200,659.29 oz Au
???????????? oz Au
MINADO
MANTENIMIENTO


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2

Production: Achieved / Planned

15
0
5
10
15
20
25
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012 2013
2011-2012 Production per quarters (DMT)
Trucks 777
Shovel RH90
Drills
Total Movement
Waste
Ore
0
0.5
1
1.5
2
2.5
3
3.5
Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012 2013
Grade Au g/t and Strip Ratio per
quarters
Au gr/tn
SR
Mining Production
2012 and 2013


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
La Arena Gold Oxide Mine (cont.)
16
Expansion to 36,000 tonnes per day recently completed
21 CAT777 Dump Trucks 3 RH90 Excavators
EQUIPO CANTIDAD
CAMION CISTERNA DE AGUA HINO FM26 6X4 2
CAMION CISTERNA DE AGUA SCANIA B6X4 1
CAMION MINERO CATERPILLAR 777F 21
CAMION VOLQUETE MERCEDEZ BENZ ACTROS 4143 K (8X4) 9
CARGADOR FRONTAL KOMATSU WA-380 3
EXCAVADORA CATERPILLAR 365 CL 2
MOTONIVELADORA CATERPILLAR 14M 2
PALA TEREX RH90 3
PERFORADORA CATERPILLAR D245S 2
RODILLO COMPACTADOR BOMAG BQ212D 1
TRACTOR SOBRE ORUGAS CATERPILLAR D8T STD 2
TRACTOR SOBRE RUEDAS CATERPILLAR 834H 1


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
La Arena Gold Oxide Mine (cont.)
17
Calaorco Pit Panorama October 2012
Calaorco Pit November 2012


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Components: Pad / Waste Dump /
ADR Expansion / Fleet
18
Waste Dump 2 Road Underpass



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2



Components: Pad / Waste Dump /
ADR Expansion / Fleet



19



PAD



PAD VOLUMEN (m3) TONELAJE (t)
PAD3 30,342,857 53,100,000
TOTAL 30,342,857 53,100,000
PAD FASE 3 DISEO
PAD VOLUMEN (m3) TONELAJE (t)
PAD2 8,171,429 14,300,000
TOTAL 8,171,429 14,300,000
PAD FASE 2 DISEO


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
ETAPAS VOLUMEN (m3) CAPACIDAD-TM
ETAPA 1 2,095,206 3,771,371
ETAPA 2 17,238,991 31,030,184
ETAPA 3 51,262,762 92,272,972
TOTAL 70,596,960 127,074,528
BOTADERO2-CAPACIDAD DE LLENADO



Components: Pad / Waste Dump /
ADR Expansion / Fleet



20
ETAPA 3
ETAPA 2
ETAPA 1


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Personnel
21
Ratio Staff and workers to total tonnes moved
(Only La Arena SA personnel)

Ratio Staff (MT)
Ratio obreros
(MT)


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 22
QP / CHRIS KAYE


Rio Alto Mining: De Junior a Productor Minero

BENEFICIO
MANTENIMIENTO -
ENERGIA
I- INGENIERIA / CONSTRUCCIN 100% LOCAL
PROCESO BAJO COSTO OPERATIVO
NO CHANCADO (ROM)
CONSUMO CN < 0.1kg/TMS
PERIODO LIXIVIACIN: 30 45 DIAS
RECUPERACIN METALRGICA + 80%

II- CRECIMIENTO PROGRESIVO (STAGES)
10,000/20,000/24,000/36,000 tpd



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Metallurgical Test Work (pre-production)
23
PILOT SCALE COLUMN LEACH TEST RESULTS

CALAORCO PIT ETHEL PIT
Recovery (Au) 84% 93%
Leaching (Days ) 30 30
Granulometry ROM ROM
Grade Au (g/TM): 1,29 0,64
Cyanide (Kg/TM): 0,1 0,1
Lime (Kg/TM): 1,5 0,8
Density of mineral: 1,69 1,69
Photo - Feb 2012


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Expansion to 36,000 tonnes per day recently completed
La Arena Gold Oxide Mine (cont.)
24
Calaorco Pit
Leach Pad
Ethel Pit
PLS Pond
Process Plant
Major Events Pond


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 25
-
5,000
10,000
15,000
20,000
25,000
-
50,000
100,000
150,000
200,000
250,000
300,000
M
a
r
c
h
A
p
r
i
l
M
a
y
J
u
n
e
J
u
l
y
A
u
g
u
s
t
S
e
p
t
e
m
b
e
r
O
c
t
o
b
e
r
N
o
v
e
m
b
e
r
D
e
c
e
m
b
e
r
J
a
n
u
a
r
y
F
e
b
u
a
r
y
M
a
r
c
h
A
p
r
i
l
M
a
y
J
u
n
e
J
u
l
y
A
u
g
u
s
t
S
e
p
t
e
m
b
e
r
O
c
t
o
b
e
r
N
o
v
e
m
b
e
r
D
e
c
e
m
b
e
r
2011 2012
O
u
n
c
e
s

F
i
n
e

A
u

La Arena Monthly Production 2011 - 2012
Cumulativ on Pad Cumulative Produced OZ on PAD OZ Produced
Delivered to pad; 259,097oz
Produced; 229,804oz
Recovery; 88.7%
Metallurgical Recovery


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2


Metallurgy


26
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
100.00%
110.00%
120.00%
130.00%
140.00%
Monthly and Acumulated Recovery
Au Recovered (%) Cumulative Au Recovered (%)


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 27



Plant Expansion 36,000 tpd





TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
PLS and ME Ponds Nov 2012
PAD looking NE Nov 2012
28



La Arena Panoramas





TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 29
FUENTES DE FINANCIAMIENTO

I- EMISION DE ACCIONES (US$ 100 M)
USO DE FONDOS:
INGENIERIA DEL PROYECTO
COMPRA DEL ACTIVO (IAM GOLD)

II- PREVENTA DE ORO (RED KITE) (US$ 50 M)
USO DE FONDOS:
CONSTRUCCIN DEL PROYECTO





Rio Alto Mining: De Junior a Productor Minero

FINANCIAMIENTO


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Share Price Performance & History
30
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
C$6.1M @ C$0.36 / share
EIA Approved
Gold Prepayment Facility
Negotiated
RIO lists on BVL
First Gold Production
30 day moving average
90 day moving average
Resource Update
ANALYST COVERAGE

GMP Securities George Albino +1 416 943 6187
CIBC World Markets Inc. Ian Parkinson +1 416 956 6169
Scotia Capital Mark Turner +1 416 863 7484
Clarus Securities Inc Mike Bandrowski +1 416 343 3352
Stonecap Securities Inc Christos Doulis +1 416 342 9992
Dundee Securities Inc Dale Mah +1 604 647 2878
Desjardins Capital Markets Adam Melnyk +1 416 607 3081
Euro Pacific Capital Inc Heiko Ihle +1 800 727 7922
Kallpa Securities SAB Maria Belen Vega +51 1 627 5220
Loeb Aron & Company Limited Jonathan Richards +44 207 628 1128
200,000 oz poured
since first gold production
Entry to S&P / TSX index


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Capital Structure
31
TSX: RIO
BVL: RIO
OTCQX: RIOAF
Frankfurt FSE: MS2

Shares Issued (November 20, 2012): 174.9 million

Warrants Outstanding 0.3 million

336,720 @ C$ 2.05 (Broker warrants exp. Jan 2013)

Options Outstanding: (Av. Exercise Price C$ 2.03) 8.4 million

Fully Diluted: 183.6 million

as at 20/11/2012

Share Price: C$ 5.19

Market Cap (issued capital): approx C$ 907 million
35% - Peru
28% - Canada / Europe
15% - Sentry Capital
9% - Management
7% - JP Morgan
6% - IAMGOLD


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
Gold Prepayment Facility
32



First Tranche Second tranche
Amount US$25 million US$25 million
Due Date October 2014 October 2014
Total Obligation


Price Range

Status (as at 11/06/12)


61,312 notional ozs


$1,450 repay 85% of ozs


36,079 notional ozs repaid
25,233 notional ozs owing

Min ozs 52,115
Max ozs 70,509

$950 repay 115% of ozs


Min ozs owing 21,448
Max ozs owing 29,018
Payments for both tranches made through to October 2013


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 33
RELACIONES COMUNITARIAS
GRUPO: LIDERADO POR PERCY CAPUAY / JORGE URIARTE (12 PERSONAS)
EMPRESAS COMUNALES (31 EMPRESAS/561 EMPLEOS)
PROYECTOS EDUCATIVOS
PROYECTOS DE SALUD PUBLICA
PROYECTOS DE NUTRICION INFANTIL
PROYECTOS PRODUCTIVOS




Rio Alto Mining: De Junior a Productor Minero



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
34

LA ARENA
MINE

34
RELACIONES COMUNITARIAS

Rio Alto Mining: De Junior a Productor Minero



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
GESTIN

Dr. Klaus Zeitler | Chairman, Director
Alex Black | President & CEO, Director
Anthony Hawkshaw | CFO, Director
Victor Gobitz Colchado | COO, Director
Drago Kisic Wagner | Director
Sidney Robinson | Director
Ram Ramachandran | Director
Dr. Roger Norwich | Director
35
BOARD OF DIRECTORS


Rio Alto Mining: De Junior a Productor Minero



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
GESTIN
36

Rio Alto Mining: De Junior a Productor Minero

Dr. Klaus Zeitler, Chairman of the Board, Director

Dr. Zeitler received his professional education at Karlsruhe University from 1959 to 1966 and obtained a PHD in economic
planning. Dr. Zeitler is a member of the Canadian Institute of Mining and Metallurgy and the Prospectors and Developers
Association. Dr. Zeitler financed, built and managed base metal and gold mines throughout the world (Europe, Africa, North
America, South America, and Pacific Region) with a total investment value of $4 billion. Dr. Zeitler was a managing director of
Metallgeschaft AG, a German metals conglomerate and in 1986 founded and was a director and CEO of Metall Mining, later
Inmet, a Toronto Stock Exchange listed company with assets of over $1 billion and base metal and gold mines in different parts
of the world. After having been a director of Teck and Cominco for many years, Dr. Zeitler joined Teck in 1997 as Senior Vice
President and had responsibilities for the exploration and development of mines in Peru, Mexico and the USA. Since his
retirement from Teck Cominco in 2002, and in addition to being President and a director of Amerigo Resources Limited, Dr.
Zeitler has been actively involved as a director in various junior base and precious metal companies.

Alex Black, President & CEO, Director

Alex Black lives in Lima, Peru and has over 30 years experience in the mining industry. Mr. Black holds a BSc in Mining
Engineering from the University of South Australia and is a member of the Australasian Institute of Mining and Metallurgy. Prior
to moving to Peru in 2000, Mr. Black was the founder and Managing Director of international mining consulting services group
Global Mining Services from 1994 to 2000. In 1996, Mr. Black also founded and was Chairman of OFEX listed AGR Limited with
exploration projects in Ghana and Mongolia. In 2002, Mr. Black took control of Chariot Resources Limited as a listed TSXV shell
and played a key role in the acquisition of the Marcona Copper Project and formation of the Korean joint venture with Chariot
Resources. Upon his resignation as Chairman & Executive VP of Chariot Resources in 2006, Mr. Black returned to Peru and
founded the Peruvian registered Rio Alto S.A.C. Mr. Black was the Chief Executive Officer, President and a director of Rio Alto
prior to the acquisition of the company by Mexican Silver Mines (since renamed Rio Alto Mining Limited).


TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 37

Rio Alto Mining: De Junior a Productor Minero

Anthony Hawkshaw, CFO & Director

For 29 years Anthony Hawkshaw was a Chartered Accountant and holds a Bachelor Degree in Business Management from the Ryerson
University in Toronto. From 2005 to 2007, Mr. Hawkshaw was the CFO of Grove Energy Limited, a London and Toronto listed oil and gas
development company. In 2004, Mr. Hawkshaw was the CFO of Chariot Resources Limited for a period of 12 months. Prior to Chariot, Mr.
Hawkshaw was CFO of Pan American Silver Corp. from 1995 to 2003. With more than 25 years experience in the mining industry in countries
including Canada, the United States, Mexico, Russia and Peru, Mr. Hawkshaw has extensive experience in the marketing of metals in refined
and concentrate form throughout the world and in metals trading. He has arranged numerous debt, equity and convertible debt financings
with institutional investors, commercial banks and multilateral lending agencies. Mr. Hawkshaw is also a director of TSXV listed Caza Gold.

Victor Gobitz Colchado , COO & Director

Mr. Gobitz is a Mining Engineer who received his professional education at the Pontificia Universidad Catlica del Per from 1981 to 1986
and obtained a Masters degree in Business Administration (MBA) from Escuela de Administracin de Negocios ESAN in 1998. Mr. Gobitz
sits on the Board of Directors of Castrovirreyna Compaa Minera and until recently, Volcan Compaa Minera, both public mining
companies listed on Bolsa de Valores de Lima. Mr.Gobitz has extensive experience in the start up and expansion of mining projects and
currently a board member of Corporacin Minera Castrovirreyna, Director of the Peruvian Mining Safety Institute ISEM and Member of
the Board of the Peruvian Corps of Engineers, Chapter of Mining Engineers - CIP.

Sidney Robinson, Director

Mr. Robinson is a retired Senior Partner of Torys LLP, Toronto and New York, who practised corporate/commercial law, with emphasis on
financings, mergers and acquisitions and international projects. He represented business clients based in Canada, France, Germany, Italy,
Japan, Sweden and the United States. In his practice, Sidney acted as strategic and legal advisor to senior management and Boards of
Directors. Mr. Robinson currently sits on the Boards of Directors of two public companies listed on the Toronto Stock Exchange, Amerigo
Resources Inc. and Chartwell Seniors Housing Real Estate Investment Trust and one private company, Butterfield & Robinson Inc. He has
served on the Boards of Directors of a number of public and private Canadian and U.S. companies including the Boards of Directors of AGIP
Canada Ltd., BMW Canada Inc., C.I. Fund Management Inc., Loring Ward International Inc., Inmet Mining Corporation, Purolator Courier Ltd.
and Pelmorex Media Inc. (The Weather Network).




TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 38

Rio Alto Mining: De Junior a Productor Minero



Drago Kisic Wagner, Director

Drago Kisic Wagner holds a B.S. from Pontificia Universidad Catlica del Per and a Masters degree (B-Phil) from Oxford
University. As a founding partner and current Director of MACROCONSULT and MACROINVEST, Mr. Kisic advised the Government
of Peru during the privatization of Centromin, Minero-Peru, Hierro-Peru and Perus telephone and telecommunications
companies CPT and ENTEL-Peru. Mr. Kisic is a member of the board of SIA (a cement company); Mapfre and Mapfre Peru Vida
(insurance companies); Haug (a steel contractor); Corporacin Rey and Teditex (textile related companies); and Banco Financiero
(a commercial bank). Currently, he is President of the Peruvian Institute of Economics and Politics and Bodega San Nicols and is
a member and former President of the Peruvian Center for International Studies (CEPEI) and the Peruvian Institute of Business
Management (IPAE). Drago was advisor to the Executive Director of the World Bank, and was President of CONASEV (the
Peruvian securities and companies regulatory authority) and Vice-president of the Lima Stock Exchange (BVL). Mr. Kisic was the
former head of the Economic Office and Manager of the Balance of Payments & External Sector Bureau of Perus Central Reserve
Bank and a former member of the Advisory Committee of the Ministry of Foreign Affairs. He was also the Head of the Border
Integration Team during the peace negotiations between Peru and Ecuador, ten years ago.


Dr. Roger Norwich, Director

Dr. Roger Norwich a dual graduate of Manchester University worked as an oil exploration Geologist for Texaco after graduation
and gained experience in the North Sea, the Gulf of Mexico and the Permian Basin. Having served as Chairman of a London AIM
listed oil and gas exploration company he was a founding Director of TSX-V listed Mexican Silver Mines and subsequent to the
take over and merger with Rio Alto Mining has remained on the Board as an Independent Director. Dr. Norwich is non-Executive
Chairman of Grupo Minero Panuco based in Mexico with extensive Copper, Gold and Molybdenum production assets.






TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 39

Rio Alto Mining: De Junior a Productor Minero



Ram Ramachandran, Director

Mr. Ramachandran has over 25 years of financial reporting experience in a multitude of capacities. During the past 10 years Ram
has consulted extensively on financial reporting and regulatory matters for public companies, accounting and law firms. Mr.
Ramachandran's contributions to the capital markets include authoring and launching the "Canadian Securities Reporter", a
proprietary public company subscription service currently available through the CICA's Knotia website. Mr. Ramachandran has
previously served as Associate Chief Accountant and Deputy Director, Corporate Finance at the Ontario Securities Commission
and served as a senior member in the national office of an international accounting firm. Mr. Ramachandran was also a member
of the OSC's Continuous Disclosure Advisory Committee (2004-2007) and has completed the IFRS Certification program offered
by the Institute of Chartered Accountants in England & Wales. Mr. Ramachandran originally qualified as a Chartered Accountant
in England & Wales and subsequently became a C.A. in Ontario in 1984. Mr. Ramachandran currently serves as a director of
White Tiger Gold Ltd. (TSX) and Viper Gold Ltd. (TSXV) and as Chief Financial Officer of CanAlaska Uranium Ltd. (TSXV) and
Purepoint Uranium Inc. (TSXV).

Daniel E. Kenney, Corporate Secretary

Daniel Kenney is a partner in the Calgary office of the law firm of Davis LLP. Mr. Kenney's practice is focused on securities and
corporate finance transactions, mergers and acquisitions and corporate governance matters. He has extensive experience with
public and private offerings of securities, including initial public offerings, business combinations and restructurings through
asset and share acquisitions, plans of arrangements and take-over bids. He also has considerable experience in all dealings with
securities regulators including stock exchanges and securities commissions. Mr. Kenney acts for a broad range of issuers listed on
the Toronto Stock Exchange and the TSX Venture Exchange as well as for investment dealers in connection with financings and
corporate restructuring transactions.






TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 40

Rio Alto Mining: De Junior a Productor Minero

GESTIN
MANAGEMENT



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
GERENTE DE MINA LA ARENA Andrew Cox

VP OPERACIONES Tim Williams
VP GEOLOGIA Enrique Garay
VP PROYECTOS Sigfried Arce
VP RIESGOS/PLANEAMIENTO Paul Tweddle
VP RELACIONES CORPORATIVAS Jaime Soldi

GERENTE TECNICO Juan Rodriguez
GERENTE DE FINANZAS Zinha Urrunaga
GERENTE COMERCIAL Carmen Ramos
GERENTE LEGAL Carlos Salazar

SUPERINTENDENTE LICENCIAS Y PERMISOS Antonio Inope
SUPERINTENDENTE GESTION AMBIENTAL - Claudia Pozzo
SUPERINTENDENTE GIS Abigail Bandach
41

Rio Alto Mining: De Junior a Productor Minero



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2 42

OXIDES
(PHASE I)
Au
SULPHIDE (PHASE II)
Cu/Ag
LA COLORADA (Au)
MINASNIOC
(DURAN VENTURES)
REGIONAL EXPLORATION
(RIO ALTO)
36000 ha

Rio Alto Mining: De Junior a Productor Minero



TSX: RIO BVL: RIO OTCQX: RIOAF FSE: MS2
MINADO

Rio Alto Mining: De Junior a Productor Minero

43
BENEFICIO
RELACIONES COMUNITARIAS
GESTIN
MANTENIMIENTO
MANTENIMIENTO -
ENERGIA
M. Porter (1997)
EXPLORACIN FINANCIAMIENTO