CORPORATE STATEMENT

RIINO Secures $2M from NOHFC to Advance Development of Electric Rail Haulage System

Sudbury, Ontario – January 16, 2025 – RIINO Inc. (“RIINO” or the “Company”) is pleased to announce that it has been awarded $2M in funding from the Northern Ontario Heritage Fund Corporation (NOHFC). This significant support will accelerate the development and testing of RIINO’s electric rail haulage system, paving the way for its commercialization in both open-pit and underground mining operations.

“The support from the NOHFC significantly strengthens RIINO’s ability to advance the development of our electric rail haulage system, addressing critical needs in mining efficiency and emissions reduction,” said Aaron Lambert, CEO of RIINO. “This grant enables us to expedite essential R&D and testing phases, laying a solid foundation for the commercialization of our rail system and contributing to a decarbonized mining future.”

RIINO’s electric rail haulage system is designed to replace conventional haulage methods, providing a fully electric alternative that reduces environmental impact while enhancing cost efficiency for mining operators. By focusing on improving operational efficiency and supporting decarbonization, the system aligns with the mining industry’s environmental, social, and governance (ESG) priorities.

With our strong partnerships with leading mining companies and dedication to advancing 100% electric rail-based haulage systems, RIINO is at the forefront of developing decarbonized material haulage solutions for the mining industry.