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

Rio Alto Mining Limited

October 28, 2009 12:36 ET

Rio Alto Mining Limited: Lima Stock Exchange Listing

CALGARY, ALBERTA and LIMA, PERU--(Marketwire - Oct. 28, 2009) - Rio Alto Mining Limited ("Rio Alto") (TSX VENTURE:RIO)(BVLAC:RIO)(DB FRANKFURT:MS2)(A0MSLE) is pleased to announce that its common shares have been listed for trading on the Bolsa de Valores de Lima ("BVL"). Trading under the ticker symbol of RIO will commence today. Kallpa Securities S.A.B. acted as Rio Alto's sponsoring broker and was instrumental in helping to secure the necessary approvals from the BVL and the Comision Nacional Supervisora de Empresas y Valores. The history of the BVL dates from December 31, 1860 and today it is one of the more important markets in South America. Additional information about the BVL may be found, in Spanish, at www.bvl.com.pe or, in English, at www.bvl.com.pe/english.

Anthony Hawkshaw, CFO, remarked that "Peru ranks within the top 5 producers worldwide of gold, silver, copper and zinc so its people understand mining and know what it takes to be successful at it. There are many sophisticated Peruvian mining investors and since we filed our Environmental Impact Assessment a number of them have expressed a great deal of interest in our developing gold project at La Arena. We believe that local investors should be given an opportunity to trade our shares. Listing on the BVL facilitates this and makes it easier for Peruvians to participate in the future success of La Arena."

Rio Alto is focused on developing the La Arena Gold Oxide Project by the end of 2010 to become the next company in Peru to bring a gold project into production and to use cash flow from production to further develop its assets in Peru and Mexico. To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com. Financial information and other information can also be found at the Company's profile at www.sedar.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. 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

Anthony Hawkshaw, Director and Chief Financial Officer

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

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