Rio Alto Mining Limited
TSX VENTURE : RIO
FRANKFURT : MS2
BVLAC : RIO

Rio Alto Mining Limited

March 15, 2010 09:05 ET

Rio Alto Mining Limited: Appointment of Drago Kisic Wagner to Board of Directors

CALGARY, ALBERTA--(Marketwire - March 15, 2010) - Rio Alto Mining Limited ("Rio Alto") (TSX VENTURE:RIO)(BVLAC:RIO)(DBFrankfurt:MS2) is pleased to announce the appointment of Drago Kisic Wagner to its Board of Directors to serve until the Company's next Annual General Meeting. Mr. Kisic specializes in investment banking, finance and macroeconomics. He holds a B.S. from Pontificia Universidad Catolica del Peru 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 Peru's 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); Corporacion 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 Nicolas 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 Peru's 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.

Klaus Zeitler, Chairman, commented that "Drago is an outstanding individual whose extensive knowledge of financial markets and experience with Peruvian government and international affairs will allow him to make a tremendous contribution to Rio Alto. We are extremely fortunate to have him join our team."

Rio Alto has granted options to purchase 180,000 common shares of the Company to Mr. Kisic. These options are fully vested, expire on March 15, 2015 and have an exercise price of $0.70 per common share.

Rio Alto is developing the La Arena gold oxide project into production by the end of 2010. The Company expects to release a summary of an updated NI 43-101 technical report for the La Arena gold oxide project and gold/copper/molybdenum sulphide project by the end of March.

To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com

Forward Looking Statements

Certain statements contained herein constitute forward-looking statements, including the expected timing for the development of the La Arena Gold Oxide Project and the provision of an updated NI 43-101 technical report. Rio Alto believes the expectations reflected in these forward looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this press release are made as of the date of this press release and Rio Alto disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

ON BEHALF OF THE BOARD OF RIO ALTO MINING LIMITED

Feisal Somji, B.Sc., MBA, President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.

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