RIO SILVER COMPLETES SALE OF PALTA DORADA AG-AU PROPERTY, PERU

VANCOUVER, British Columbia – October 8, 2024–Rio Silver Inc. (TSXV:RYO) (“Rio Silver” or the “Company”) is pleased to announce that the Company has received the balance of the $250,000 US cash required for the sale of its 50% interest in the Palta Dorada Au-Ag Property, from Peruvian Metals Corp. (“Peruvian”). Additional consideration for the sale has the Company retaining a 3% Net Smelter Royalty (“NSR” or Royalty”) on the property. Total payments from the NSR will be capped at $2 million US while the Company is guaranteed US $250,000 in minimum royalty payments over the next five years.

The royalty payments due have guaranteed minimum semi-annual payments of $25,000 US payable over a five year period, commencing December 2024. Cash flow generated from the Palta Dorada Royalty could potentially exceed the minimum semi-annual royalty payment amount, as Peruvian advances a bulk sampling campaign at Palta Dorada, expected to commence Q1 2025 and augmented by its proximity to Peruvian Metals’ Aguila Norte Processing Plant.

The Company is also pleased to announce that following minor delays in the permitting cycle, it remains confident that it will be in receipt of full permission from MEM (Ministry of Energy and Mines, Peru) during Q4, 2024, for a Diamond Drilling program at the Jorimina project. Jorimina is a prominently mineralized zone, hosting gold, silver and copper and forming the western flank of the Company’s flagship, Niñobamba Ag-Au target, in south-central Peru.

Chris Verrico, Chief Executive Officer of Rio Silver commented: “The sale of our 50% interest in Palta Dorada to Peruvian Metals provides the Company with a significant NSR (Net Smelter Royalty) enabling us to focus on our Ninobamba project. Peruvian is now able to finance it’s 100% consolidated ownership of the Palta Dorada property enabling a fast-track development plan which could augment Rio Silver’s, highly valuable, 3% royalty stream. This non-dilutive cash source (royalty stream) will aid the Company’s exploration and development of its flagship Niñobamba Au-Ag and Jorimina properties located in the highly productive and under explored Ayacucho Silver – Gold belt in south-central Peru and continue on where Newmont had left off.  Newmont had discovered Jorimina, and in an internal preliminary feasibility study concluded, in a 2012 report, that Jorimina has significant potential, significant enough to support a robust mid-sized mining enterprise with the further potential of becoming something much larger, due the proximity of a mineralizing porphyry source. Our 100% ownership of the Niñobamba/Jorimina properties will propel Rio Silver’s advancement amongst Peru’s most notable precious metal developers.”

Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure contained in this news release.

About Rio Silver Inc.

Rio Silver is a Canadian Exploration and Development company with an oversized percent of insider, friends and family ownership, focused on Peru. The Company holds a 100% interest in the very prospective Ag-Au Ninobamba where more than $10 million US has been spent on exploration by the Company and previous operators. The Company continues to review precious and base metal properties in Peru while maintaining its interest in its Ontario Gerow Lake, critical metals project.

For further information on Rio Silver Inc. please visit www.riosilverinc.com

For Investor Inquiries:

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

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.

Forward Looking Statements

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Rio Silver Completes Agreement with Local Community at Jorimina Project, Peru   

Vancouver, British Columbia – July 23, 2024 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce it has finalized a surface access agreement (“the Agreement”) with the local Community for a period of one year at the Company’s Jorimina Project, an advanced gold/silver project near the city of Ayachucho in south central Peru.

A recently completed Environmental Impact Study and community workshops aided by the President and Council of the local community, represent the final steps of the drill permitting application process and allow for the initiation of activities at this highly prospective, bulk tonnage gold and silver target located at the Company’s wholly owned, Jorimina, Gold / Silver Project.

Jorimina was previously a joint venture project of Newmont, one of the world’s largest gold producers, that earned its interest from Southern Peru Copper by spending $US 7 million outlining that it was in fact a precious metals dominant deposit. Newmont performed extensive geophysical and geochemical exploration programs followed by a detailed metallurgical review as part of an internal preliminary economic analysis. This was based upon their initial diamond drilling campaign, which was a fence or row of widely spaced diamond core drilling holes, that transected the property. A planned follow up, resource defining, diamond drilling campaign was never realized due to a major market correction in 2012. The Company is in receipt of all the data generated and summarized in the 2012 Newmont report, which strongly recommended advancement of the project for which, upon a successful resource defining drill evaluation, could be capable of supporting a robust midsized mining operation.

Rio Silver expects receipt of the necessary drill permitting late in Q3, 2024, and is working with potential drill contractors to prepare to mobilize crews and equipment upon the receipt of the permits and minor property access upgrades.

Rio Silver’s President, Chris Verrico, states” We are very pleased to have been able to advance Jorimina towards resource delineation, truly an exceptional milestone while we look forward to very strong precious metals pricing.  Newmont had used a $1200/oz gold value at Jorimina in their preliminary economic analysis at Jorimina. It is an exciting entry point for future valuation gains! Rio Silver has a very successful track record of permitting successes and a very focused and experienced team that can deliver on our objectives. Our recent success with community engagement and permitting advances, may aid our ability to engage the community that is associated with the adjoining Ninobamba, high sulfidation, epithermal silver/gold deposit located just 6.5 kilometers east from Jorimina, under one continuous land holding and another opportunity for an accretive valuation increase for Rio Silver shareholders.

Rio Silver is a resource development company that has been selectively acquiring and advancing precious metal assets that afford the best possible leverage and returns in anticipation of an increasingly more favorable precious metals bull market. Both our Niñobamba and Jorimina area Au/Ag targets are suggestive of near surface, bulk mineable open pit targets.

We remain ever impressed and optimistic by the resilience and ingenuity of our host country as the Government continues to endorse supportive mining policies ensuring continued growth and opportunity throughout Peru.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.

“Chris”                                                                                                                                                                          Christopher Verrico

Director, President and Chief Executive Officer

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 except as required by applicable laws.

For further information:

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

Website: www.riosilverinc.com

Rio Silver Commences Baseline Environmental Studies

Vancouver, British Columbia –  May 7, 2024 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce it has initiated an Environmental Impact Study, a component of the permitting application currently underway in support of a planned diamond drilling campaign, at the wholly owned Jorimina  Gold / Silver Project scheduled for Q3, 2024.

Ecosoul Environmental Impact Consultants, based in Ayacucho, South Central Peru, has been contracted by the Company to undertake a full suite of environmental baseline monitoring studies which includes preparation of the necessary submittals required by the General Directorate of Mining Environmental Affairs with the Ministry of Energy and Mines, Peru, in support of the permitting application.

Ecosoul’s scope also includes professional archaeological investigations and community workshops along with the necessary liaison activities currently underway, by utilizing dedicated personnel with a successful track record working in this local region. Ecosoul will monitor and report on achieved milestones with ‘Citizen Participation in the Mining Subsector’, corresponding with the local ministries and stakeholders together ensuring a successful path towards a resource defining, exploration campaign in 2024.

“We are very pleased to have Ecosoul on site” says Rio Silver’s President, Chris Verrico. “Having a regional based professional team mobilized at Jorimina re-establishing an environmental baseline monitoring regime while advancing social awareness through local workshops and presentations. These activities all help reduce barriers for local participation and input essential for all stakeholders, as we progress building on the historic US 7 million dollars in geological studies and preliminary economic analysis by Newmont, unveiling it’s potential internally in a 2012 Report. I also want to congratulate  our Community Liaison team for their dedicated resolve. They are now joined with the specialists from Ecosoul in progressing the application process for the planned initial drill program and beyond. This work plan has been long anticipated and an instrumental step towards ranking Jorimina’s geological potential, which all lies within our Niñobamba project envelope. Niñobamba ranks highly amongst its peers operating in this prolific trend hosting some of the most successful and lowest cost gold and silver producers anywhere”.

About Niñobamba

The Company’s 100% owned Niñobamba Project hosts 2 discreet precious metal targets at opposite ends of a 6.5 km prospective corridor in a prolific, precious metals hosting geological belt in central Peru. The Company has modelled 2 world class resource targets where previously the Company, Newmont Mining, Anglo Gold and others have spent in excess of US$10 million evaluating this mineralized trend’s potential. The silver-rich Niñobamba “Main Zone and South Zones” are also drill ready and the Company’s geologists have targeted the near surface, silver and gold mineralization as a potential open pit situated at the other end of an anomalous trend from Jorimina’s predominantly Gold dominant Zone being the primary focus of the Newmont exploration programs.

About Rio Silver Inc.

Rio Silver has been a selective incubator, accumulating precious metal assets that afford only the best possible leverage and returns in anticipation of the current and increasingly more favourable precious metals bull market. The Company recently sold it’s 50% interest in the Palta Dorada Property in central Peru, a small scale high grade mesothermal gold and silver project to it’s former partner at the time, Peruvian Metals Corp., for US $250,000 in cash and a 3% Net Smelter Royalty capped at US $2 million having US $250,000 in guaranteed minimum royalty payments.

We remain impressed by the resilience and ingenuity of our host country as Peru continues to develop supportive mining policies to ensure continued growth and opportunity throughout Peru.

For further information,

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

Website: www.riosilverinc.com

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 a guarantee 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 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 applicable laws.

RIO SILVER ANNOUNCES GRANT OF STOCK OPTIONS  

Vancouver, British Columbia – May 1, 2024 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) (OTC: RYOOF)  The company announces that it has granted an aggregate of 2 million incentive stock options to directors, officers and consultants of the company, exercisable at a price of five cents with the following exercise periods: (i) one year as to 600,000 options; (ii) two years as to 400,000 options; and (iii) five years as to 1 million options, from the date of grant. The grant of these options is subject to the approval of the exchange.

About Rio Silver Inc.

Rio Silver is a resource development company that has been selectively identifying and acquiring precious metal assets that afford the best possible leverage and returns in anticipation of an increasingly more favorable precious metals bull market. Our Peruvian precious metal assets are wholly owned with no royalty obligations. The Ninobamba area Au/Ag targets are economically attractive as the mineralization suggests near surface, bulk mineable open pit targets.

Rio Silver is pleased with our host country as the Government continues to support mining policies ensuring continued growth and opportunity throughout Peru.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.

“Chris Verrico”

Christopher Verrico
604-762-4448
Chris.verrico@riosilverinc.com
Director, President and Chief Executive Officer

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 except as required by applicable laws.

Vancouver, British Columbia – Apr 23, 2024 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) (OTC: RYOOF) is pleased to announce that it has entered into an advertising and investor awareness campaign agreement (the “Agreement”) with Dig Media Inc. dba Investing News Network (“INN”). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007.

INN will introduce the Company to INN’s audience of educated, active investors. Using a variety of methods including an Enhanced Advertiser Profile, News Marketing, website and newsletter advertising and dedicated emails, INN will encourage its audience to engage directly with the Company to consider investing in the Company. INN does not provide investor relations or market-making services as defined by TSX Venture Exchange (the “TSXV”) policies. The engagement is subject to acceptance by the TSXV.

Under the terms of the Agreement with INN, the Company has agreed to pay INN $60,000. for the 12-month campaign, payable in cash in installments of $5,000. per month. INN currently holds no common shares in the Company.

“We are very pleased to be working with INN to expand our audience,” stated Chris Verrico, CEO of the Company. “With their experience in the mining industry and our portfolio of silver and gold assets, we are confident that they will be able to help increase awareness of Rio Silver as we move forward into a precious metals super cycle.”

In addition, the Company announces that it intends to apply to the TSX Venture Exchange (the “Exchange”) to amend the terms of a total of 6,400,000 warrants (the “Warrants”) which were issued in a private placement which closed on May 12, 2020. These Warrants are exercisable at a price of $0.08 per share and are currently set to expire on May 12, 2024. The proposed amendment is limited to the extension of the expiry date of the Warrants without changes to the exercise price of $0.08 per share. Subject to regulatory approval, the proposed new date for expiry of the Warrants is anticipated to be May 12, 2025.

For more information contact:

Christopher Verrico, President, CEO

Tel:  604.762.4448

Email:  chris.verrico@riosilverinc.com

Website: www.riosilverinc.com

Neither the 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 a guarantee 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 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 applicable laws.

RIO SILVER FINALIZING ACCESS AGREEMENTS FOR JORIMINA PROPERTY, PERU

Vancouver, Canada – March 19, 2024  – Rio Silver or the “Company”, TSX.V: RYO, is pleased to announce it is finalizing an access agreement with the local community for its 100% owned Jorimina project “Jorimina”, Department of Ayacucho, Peru. This agreement facilitates a diamond drill program planned to commence later this year.

Jorimina is located within the Niñobamba Project which covers an area of 4205 hectares. The Main Niñobamba zone is located 7 kilometres to east of Jormina where a significant Au-Ag high sulphidation is present. Jorimina was extensively explored by Newmont Mining Corp. “Newmont” from 2009 to 2011. The Company acquired the area from Newmont in 2016 along with an extensive database including surface and drill results and reports from an exploration program encompassing four prospective precious metal targets. The exploration programs identified extensive alteration zones believed to also be part of an extensive high-sulphidation silver-gold system identified at the Company’s adjacent Niñobamba zone.

The Company is extremely pleased to have achieved this important milestone. Jorimina was recognized by Newmont as having all the necessary elements to be capable of hosting a precious metal epithermal resource. Newmont completed thirteen diamond drill holes totaling 4377 metres at Jorimina. Drill highlights from the historic reports available showing hole JOR-001 returning 72.3 metres of 1.19 grams per tonne (“g/t”) Au starting at 53 metre depth.  Historic drill holes were widely spaced in an area covering 100 hectares with drill holes spaced over 150 metres apart. Results are historic in nature and should not be relied on.  Rio Silver initially plans to confirm the historic surface results and drill results and to determine the shape and the orientation of the precious metal mineralization.  The Company is scheduled to receive all necessary permits by Q3, 2024 necessary to initiate a small drill program to confirm the Au-Ag mineralization.

The surface rights of the Company’s Main Niñobamba Zone located east is controlled by a different community. The Company plans to initiate a new dialogue in 2024 to obtain a permit for surface drilling in 2025. Historical diamond drilling results conducted by Anglogold on the “Main Zone” in 2001 reported assay results at DDH-2 of 87 g/t silver over an interval of 130 metres starting from a depth of nine metres, and DDH-4, reporting 54 g/t silver over a drilled interval of 96 metres starting from 23 metres. Highlights from the trenching program conducted by the Company in 2012 at the Niñobamba “Main Zone” discovered a new gold-silver mineralized zone which included 56 metres of 1.03 g/t Au and 98.9 g/t Ag in trench TR-01 and 21.77 metres of 1.32 g/t Au and 102.46 g/t Ag in TR-04 ending in mineralization (see Rio Silver News Release of January 14, 2013). These results show that the main zone on the Niñobamba property has a strong gold component, and further exploration is required to determine the precious metal zonation, alteration patterns and widths. The trenches were cut approximately perpendicular to the mineralized structure, and the true width of mineralization cannot be determined at this time.

Jeffrey Reeder, P.Geo., Advisor and a qualified person as defined in National Instrument 43-101, has approved the scientific and technical disclosure contained in this news release.

About Rio Silver Inc.

Rio Silver is a resource development company that has been selectively identifying and acquiring precious metal assets that afford the best possible leverage and returns in anticipation of an increasingly more favorable precious metals bull market. Our Peruvian precious metal assets are wholly owned with no royalty obligations. The Ninobamba area Au/Ag targets are economically attractive as the mineralization suggests near surface, bulk mineable open pit targets.

Rio Silver is pleased with our host country as the Government continues to support mining policies ensuring continued growth and opportunity throughout Peru.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.

“Chris Verrico”

Christopher Verrico
604-762-4448
Chris.verrico@riosilverinc.com
Director, President and Chief Executive Officer

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 except as required by applicable laws.

(Vancouver, British Columbia – January 15^th, 2024) Rio Silver Inc. (TSXV:RYO) (“Rio Silver” or the “Company”) is pleased to announce that the Company has sold its 50% interest in the Palta Dorada Property to Peruvian Metals Corp. (“Peruvian Metals”). The consideration for the sale is $250,000 US with the Company retaining a 3% Net Smelter Royalty (“NSR” or Royalty”). Total payments from the NSR will be capped at $2 million US while the Company is guaranteed $ 250,000 in minimum royalty payments over the next five years.

An initial payment of $25,000 US has been received and four monthly payments due of $25,000 USD with a final $125,000 US payment being received in June, 2024. The royalty payments will be paid semi-annually having a guaranteed minimum semi annual payment amount of $25,000 US over the next five year period starting December 2024. Cash flow from Palta Dorada, potentially generating larger semi-annual royalty payments to the Company, is expected late 2024 to early 2025 with the property being located near Peruvian Metals’ Aguila Norte Processing Plant.

The Company is also pleased to announce significant progress towards gaining social license in order to facilitate a diamond drilling campaign at the Joramina zone forming the western flank of the Company’s flagship, Niñobamba Au-Ag project in South Central Peru. The Company has assisted the communities in the area to reorganize their affairs allowing them to complete the necessary access agreements which will allow them to receive the benefits that successful exploration will generate.

Chris Verrico, Chief Executive Officer of Rio Silver commented: “The sale of our Palta Dorada interest to Peruvian Metals allows us to  retain a significant NSR(Net Smelter Royalty) on the property and focus efforts on our Ninobamba area properties. Peruvian Metals is now able to fast track it’s development augmenting Rio Silver’s, highly valuable, 3% royalty stream. We also welcome the immediate cash payments over the next several months along with the guaranteed royalty payments to offset annual fixed costs. This cash will aid the Company to explore and develop our flagship Niñobamba Au-Ag project and pick up where Newmont had left off, internally concluding that Jorimina had significant potential, enough to support a robust midsized mining enterprise with significant upside potential. Our 100% unincumbered ownership of the Niñobamba/Jorimina properties will propel Rio Silver’s advancement up and amongst Peru’s most notable new precious metal discoveries.”

Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation, or approved the scientific and technical disclosure contained in this news release.

About Rio Silver Inc.

Rio Silver is a Canadian Exploration and Development company focused on Peru. The Company holds a 100% interest in the very prospective Ag-Au Ninobamba where more than $10 million US has been spent on exploration by the Company and previous operators. The Company continues to review precious and base metal properties in Peru, and has been maintaining its interest in its Ontario Gerow Lake Property.

For further information on Rio Silver Inc. please visit www.riosilverinc.com.

Rio Silver Inc. is a Canadian resource company listed on the TSX Venture Exchange: Symbol “RYO”

For additional information, contact:  Chris Verrico Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

Neither the 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.

Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

Vancouver, British Columbia – July 18, 2023 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (the “Offering”) subject to regulatory approval.

In connection with the completion of the second tranche, the Company issued an aggregate of 1,588,000 units (the “Units”) of the Company at a price of $0.05 per Unit for gross proceeds of $79,400.  Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”).  Each Warrant is exercisable into one additional common share of the Company at a price of $0.08 per share until January 17, 2025 unless the closing price of the common shares of the Company is $0.15 or higher on the TSX Venture Exchange (the “Exchange”) for 15 consecutive trading days any time after the date that is four months after closing, in which case the Warrants will expire 30 calendar days after notice to the Warrant holders through a news release announcing an earlier expiry date.  The securities issued under the second tranche will be subject to a statutory hold until November 18, 2023.

The proceeds from the Offering will be used to fund the Company’s ongoing business operations and for general working capital purposes.  No finder’s fees were paid in connection with the Offering.

Three insiders of the Company participated in the Offering, namely: a company controlled by Christopher Verrico, CEO and a director of the Company, purchased an aggregate of 3,160,000 Units; Steve Brunelle, a director of the Company, purchased an aggregate of 1,160,000 Units; and Richard Mazur, a director of the Company, purchased an aggregate of 1,728,000 Units.  The Offering is a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”).  The issuance of the securities comprising the Units to the insiders is exempt from the valuation requirements and the minority approval requirements of MI 61-101 by virtue of the exemptions in sections 5.5(a) and 5.7(1)(a) of MI 61-101, by virtue of the fair market value of the consideration for the Units being less than 25% of the Company’s market capitalization.

The Company also announces that it has granted an aggregate of 3,550,000 incentive stock options to directors, officers and other consultants of the Company exercisable at a price of $0.05 with the following exercise periods: (i) one year as to 1,350,000 options; (ii) two years as to 450,000 options; and (iii) five years as to 1,750,000 options, from the date of grant.  The grant of these options is subject to the approval of the Exchange.

For more information contact:

Christopher Verrico, President, CEO

Tel:  604.762.4448

Email:  chris.verrico@riosilverinc.com

Website: www.riosilverinc.com

Neither the 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.

Vancouver, British Columbia – May 19, 2023 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce a non-brokered private placement of up to 10,000,000 units of the Company (the “Units”) at a price of $0.05 per Unit (the “Offering”) for gross proceeds of up to $500,000. Each Unit will consist of one common share of the Company and one share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.08 per common share. The Warrants will expire 18 months from the date of issuance unless the closing price of the common shares of the Company is $0.15 or higher for 15 consecutive trading days any time after the date that is four months after closing, in which case the Warrants will expire thirty (30) days after notice to the Warrant holders through a news release announcing an earlier expiry date.
It is anticipated that certain insiders of the Company will participate in the Offering. The proceeds from the Offering will be used to fund ongoing the Company’s business operations and for general working capital purposes. The Company may pay certain finders’ fees in connection with a portion of the Offering, subject to the policies of the TSX Venture Exchange (the “Exchange”).
All securities issued in connection with the Offering will be subject to a statutory hold period of four months and a day commencing from the date of issuance. The closing of the Offering is subject to regulatory approval, including Exchange acceptance.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Rio Silver
Rio Silver is a Canadian exploration and mining company. Its business is to develop our 100%-owned Ninobamba project in Peru and to unlock the potential for shareholder value at both Ninobamba Main and Jorimina zones. The Company’s own recently commissioned and independently constructed “exploration potential” model for Ninobamba Main has identified more development potential. Benefits are also expected to soon materialize from the carried development of the new Palta Dorada Au Ag project, focusing on a near-term revenue stream. For more information, please visit: https://www.riosilverinc.com/
For more information contact:

Christopher Verrico, President, CEO
Tel: 604.762.4448
Email: chris.verrico@riosilverinc.com

Neither the 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.

The 100% owned Niñobamba project covers an area of 4300 hectares and is royalty free. The project is comprised of two mineralized areas: The Niñobamba Area and the Jorimina Zone. Two different communities control the surface rights in the project areas. The Company has conducted numerous meetings with community directors and is confident that a surface access agreement to facilitate a first phase diamond drilling program at the Jorimina Zone will be concluded soon. Rio Silver has also been in discussions with the community controlling the surface rights on the Niñobamba Area. Although more social and community engagement is required, a positive outcome is expected.

The Jorimina Zone is located approximately 6.5 kilometers west of the main zone of mineralization at Niñobamba. The Company acquired an extensive database from Newmont Mining Corp. (“Newmont”) which includes diamond drill logs and assays, surface samples, geophysical data, and metallurgical testing. Approximately $10 million US has been spent on historical exploration programs since 2002 on the entire project area from Anglogold and Newmont. The Company is pleased to have secured all the data from these extensive programs.

From 2009 to 2010, Newmont Mining Corp. completed thirteen diamond drill holes totaling 4377 metres at Jorimina. As a highlight from the historic reports available, the best intercept from the 13 holes, showed drill-hole JOR-001 returning 72.3 metres of 1.19 g/t Au starting at 53-meter depth. The true widths of mineralization from this drillhole are not yet known. Further drilling is required to determine both the lateral and vertical extent of the mineralization.

Historical diamond drilling results conducted by AngloGold in 2002 on the main Niñobamba Area zone included DDH-2, which reported assay results of 87 g/t silver over a drilled interval of 130 metres starting from a depth of nine metres, and DDH-4, reporting 54 g/t silver over a drilled interval of 96 metres starting from 23 metres. The true widths of mineralization from this drill hole are not yet known and will be determined in the upcoming planned drill program.

Highlights from the trenching program conducted by Rio Silver in 2012 at the Niñobamba North Zone where the Company discovered a new gold-silver zone include 56 metres of 1.03 g/t Au and 98.9 g/t Ag in trench TR-01 and 21.77 metres of 1.32 g/t Au and 102.46 g/t Ag in TR-04 ending in mineralization (see Rio Silver News Release of January 14, 2013). These results show that the Niñobamba property possesses a strong gold component. Further exploration is required to determine the precious metal zonation, alteration patterns and widths. The trenches were cut approximately perpendicular to the mineralized structure, and the true width of mineralization is yet to be determined.

The Company is also pleased to announce that at it’s joint venture mining project operator, Peruvian Metals Corp., has commenced stockpiling gold-silver-copper rich material taken from Palta Dorada’s main workings. The Palta Dorada property, is owned equally with Peruvian Metals and is located in Ancash Department, Northern Peru. Sulphide mineralized material will be shipped to Peruvian’s Aguila Norte Processing Plant, located 145 kilometres from the Palta Dorada project site on a combination of gravel and paved roads.

Three random grab samples were recently taken by JV partner Peruvian Metals from the mineral stockpiles and assayed. The average grade of the samples was 7.55 g/t Au, 6.07 ounces /t Ag and 0.70% Cu. Two samples were also taken from the sulphide bearing quartz vein in the main adit where the material is currently being extracted. Assay results over a 1 metre width averaged 14.07 g/t Au, 9.01 ounces/t Ag and 2.01% Cu. In addition, two samples were taken from the oxide zone above the main workings and averaged 12.5 g/t Au, 7.89 ounces/t Ag and 0.20% Cu.

The Company is continuing to open the workings at Palta Dorada to access the sulphide Cu-Au-Ag material for the collection of a bulk sample and plans to ship sulphide material to the Aguila Norte Plant once it is determined that sufficient mineral has been accumulated to create a high-quality concentrate. Rio Silver expects to process this material during the second quarter of 2023. Any accumulated oxide gold material extracted will be sold to third party mills designed to treat the oxide material.

Rio Silver’s President, Chris Verrico states “We are extremely pleased with the progress towards achieving access agreements for both the Jorimina and Main Niñobamba zones. It is likely the Company will conclude an agreement for Jorimina first as those discussions are well advanced in anticipation of a Q3 resource defining diamond drilling campaign built around the success that Newmont had achieved prior to 2012 on the project”.

About Rio Silver Inc.

Rio Silver is a resource company that has been selectively identifying and acquiring precious metal assets that afford the best possible leverage and returns in anticipation of an increasingly more favorable precious metals bull market. Our Ninobamba area Au/Ag/Cu targets are suggestive of near surface, bulk mineable open pit targets. At the Company’s Palta Dorada Property in central Peru, a high-grade mesothermal gold and silver vein system is currently being bulk-sampled and processed by 50% partner, Peruvian Metals Corp.(“Peruvian”). Recent access improvements to the upper workings have been installed allowing access for an underground bulk sampling campaign, now underway, within the previously sampled sulfide mineralization. Peruvian operates the nearby Aguila Norte commercial mill where the extracted mineral from the bulk sampling campaign will be processed. Bulk sampling may be ramped up if successful and could become a cashflow to assist the Company’s overall exploration plans in a non-dilutive, shareholder friendly way. We remain ever impressed and optimistic by the resilience and ingenuity of our host country as Peru continues to endorse supportive mining policies ensuring continued growth and opportunity throughout Peru.

Jeffrey Reeder, P.Geo., a qualified person as defined in National Instrument 43-101, has supervised the preparation, and approved the scientific and technical disclosure contained in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.

For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com

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.