Rio Silver Announces Closing of Flow-Through Private Placement

November 26, 2012by AdminMWS

November 26, 2012, Toronto, Ontario, Canada – Rio Silver Inc. (TSX-V: RYO) (the “Company”) is pleased to report that it has completed its previously announced flow-through private placement consisting of 2,000,000 flow-through common shares (the “Shares”) at $0.15 per Share for gross proceeds of $300,000 subject to final Exchange approval. In connection with the private placement, the Company paid finder’s fees comprised of an aggregate of $9,000 in cash and issued an aggregate of 60,000 broker warrants exercisable to acquire one common share of the Company at a price of $0.15 per share until November 26, 2013. All of the securities issued will be subject to a four month statutory hold expiring on March 27, 2013.

The proceeds of the placement will be used by the Company to incur eligible Canadian Exploration Expenses as defined by the Income Tax Act (Canada) at the KAN Gold, Lead-ZincSilver project in the northern Labrador Trough area, Nunavik Territory, Quebec

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC

Dwight Walker
CFO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) 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 except as required by the applicable laws.

For more information contact:

Dwight Walker, CFO
Tel: (416) 567-2785

Website: www.riosilverinc.com

AdminMWS