June 18, 2012, Toronto, Ontario, Canada – Rio Silver Inc. (the “Company”) (TSX.V: RYO) is pleased to announce that the Company has commenced the initial exploration program at its 2100 hectare Niñobamba silver project, located approximately 330 kilometres southeast of Lima, in the Department of Ayacucho, Peru. Niñobamba is a high sulphidation, epithermal system hosted within a Tertiary volcaniclastic unit with silver mineralization demonstrating the potential for a bulk tonnage, disseminated silver deposit.
With the support of the community workers the Company has completed the road access to the main camp. A trenching program, consisting of several 100 metre trenches in the area of the historical diamond drill holes, has begun. The goal of this initial program is to sample the high sulphidation alteration mineral assemblages in two parallel topographically prominent ridges, each extending over a strike length in excess of 600 metres.
Under the supervision of the project geologist channel samples are being cut, split and sent out for assay. Extensive characteristic alteration mineral assemblages and textures including multiple zones of vuggy silica have been identified and sampled during this program. The first samples have been sent to Inspectorate Services Peru SAC, Lima and work has now begun on Trench 2. Geological prospecting and mapping is ongoing to better define the stratigraphic extent of the volcaniclastic rock units hosting the silver mineralization.
The Company will begin the permitting process for the first phase diamond drill program which will include environmental baseline studies in accordance with Peruvian guidelines.
Niñobamba Silver Project
Originally explored by AngloGold Exploracion Peru S.A.C. (“Anglo”) in 2001, Anglo focused on an area of intense hydrothermal surface alteration and drilled five widely spaced core holes totalling 861metres. Anglo’s drilling highlights included DDH-2 which reported assay results of 87 gpt silver over a drilled interval of 130 metres starting from a depth of 9 metres and DDH-4 reporting 54 gpt silver over a drilled interval of 96 metres starting from 23 metres. Results of this limited exploration program outlined two distinct zones of silver mineralization reported to be open along strike and at depth.
T. John Magee, P.Geo., President and CEO of the Company is the Qualified Person who has reviewed and is responsible for the technical data contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
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Tel: (416) 479-9546