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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.

 

 


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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.

 


April 23, 2024
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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.


April 3, 2024
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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.

 

 

 


January 15, 2024
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(Vancouver, British Columbia – January 15th, 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.

 


July 18, 2023
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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.


May 19, 2023
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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.


March 31, 2023
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Vancouver, British Columbia – March 14th, 2023 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) (OTC: RYOOF),) is pleased to provide an update of its activities at both the Niñobamba Au-Ag property (“Niñobamba”) and its 50% owned Palta Dorada Au-Ag-Cu property (“Palta Dorada”).

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.


January 22, 2022
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Vancouver, British Columbia – January 11, 2022 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) (OTC: RYOOF), is pleased to provide an update on its plans to commence a first phase of diamond drilling at the 100% owned flagship property, the Niñobamba Silver-Gold Project (“Niñobamba or “The Property”), in south central Peru.

Niñobamba comprises seven concessions totaling 4017 hectares. The area has excellent infrastructure and is located 45 kilometres southwest of Ayacucho. The Property is accessible by several gravel roads off the main highway accessing its northern boundary. The Property is free of any third-party royalties and has had over $10 million US spent on exploration by the Company and previous operators. The database for the Niñobamba project includes over 6500 surface and drill assay results from previous operators.

The precious metal mineralization is associated with a high-sulphidation epithermal system. These types of systems are a principal exploration target of major companies exploring for gold in the South American Andes. More specifically, precious metal mineralization at Barrick’s Pierina and Laguna Norte gold mines, and Newmont’s Yanacocha are all associated with high-sulphidation systems.

Exploration by previous operators from 2002 through to 2009 includes assay results and drill logs for 9743 meters of diamond drilling. Two discreet zones of precious metal mineralization were identified from this previous work: Main Niñobamba Zone (“Main Zone”) and the Jorimina Zone. Highlights from previous drill programs on the Main Zone by Anglogold included 130 meters of 2.8 oz Ag per ton Ag. in drill hole AN-2 and 7.5 kilometers to the west at the Jorimina zone Newmont had drilled 72 meters of 1.19 grams Au per tonne in dill hole JM-1. Rio Silver then completed an extensive surface trenching program on the Main Zone silver mineralization in 2012. The trenching program resulted in identifying significant gold potential not recognized by the previous operators. The first trench of the program conducted by Rio Silver was placed in the area where Anglogold drilled an intercept of 130 metres of 2.8 oz/t Ag (ounces silver per ton). The trench exposed extensive high-sulphidation alteration returning an impressive 56 metres averaging 1.03 g/t Au (grams gold per tonne) and 98.9 g/t Ag. Further trenching 400 metres southwest and along strike continued to expose typical vuggy silica, high-sulphidation-type alteration with the last 21 metres returning 1.32 g/t gold and 102 g/t silver. The extent of the mineralization continues under deep colluvium. The last sample in the trench returned 0.53 g/t gold and 82 g/t silver.

In early 2020 The Company engaged Dahrouge Geological Consulting Ltd to complete a conceptual exploration target using Leapfrog software. The result of this work is summarized in the Company’s news release of February 27, 2020. The following table is the summary of the conceptual exploration[1] target range for the Niñobamba Main Zone and is presented in the following table:

Cutoff Grade Tonnes Silver Grade Silver Grade Silver Ounces
g/t MT Average g/t Average opt Million oz
Lower Target 50 7.9 90 2.88 22.9
Higher Target 50 11.1 86 2.78 30.9

 

On December 18th, 2021, the Company attended a local Community Assembly and presented plans for diamond drilling and detailed surface mapping and sampling, including exploratory pits at the Niñobamba Main Zone. The Company was well received, at the first of such gatherings allowing surrounding community members to attend this meeting, the first since the start of the Covid pandemic. Along with representatives from D&M Ingenieros Consultores (“D&M”), a Lima Peru based engineering group providing the environmental professionals for the recently produced environmental baseline compilation, the Company presented the environmental monitoring work completed to date which included measures to protect the nearby water supply canal. The interaction with the community members resulted in the presentation of some items of key concern, all of which will be addressed this month during a field program conducted by D&M. The Company has been invited to return later in February 2022 to present the updated base line environmental review along with a detailed work plan proposal.

Pending a successful outcome for which the Company is confident, the necessary submission for approval by the General Directorate of Mining Environmental Affairs of the Ministry of Energy and Mines, Peru will be expedited.

Chris Verrico the CEO of Rio Silver comments; “I am very happy to have the professionally led crews from D&M finalizing the environmental base line studies for this all-important round of permitting, a milestone which should allow us to proceed to our first drill program at Niñobamba. I am also pleased with the progress our Community Liaison team has made. This work plan has been long anticipated, a decade in the making and is a major step towards putting Niñobamba’s precious metal potential amongst its peers within this prolific geological trend that hosts some of the most successful and lowest cost gold and silver producers worldwide”.

Mr. Reeder, PGeo, 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 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. At the Company’s recently acquired Palta Dorada Property in central Peru, a high-grade mesothermal gold and silver vein system is currently being bulk-sampled and processed by earn-in partner, Peruvian Metals Corp.(“Peruvian”) The Company’s partner has earned a 50% interest by installing and then expanding (due to Covid protocol) a 20-man camp and support complex and then developing 150 meters of access tunnel now estimated to be within 20 meters of the targeted 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 respectful and mindful of the current hardships being confronted by our hosts in Peru due to the current pandemic. We remain ever impressed and optimistic 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 consdered 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, 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.

 

[1] The Company cautions that the Niñobamba model is not a resource declaration. The potential tonnages and grades are conceptual in nature and are based on previous trench samples and drill results that defined the approximate length, thickness, depth and grade of a portion of the north and south mineralized zones at Niñobamba. There has been insufficient exploration to define a current resource and the Company cautions that there is, among other uncertainties, a risk that further exploration may not result in the delineation of a current mineral resource or one that resembles the conceptual model.

 


September 27, 2021
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Vancouver, British Columbia – September 27, 2021 – Rio Silver. (TSXV:RYO) (“Rio Silver” or the “Company”) is pleased to provide an update regarding the exploration and development of the Palta Dorada Au-Ag-Cu project in Northern Peru. The Company equally owns the project with Peruvian Metals Corp. (“Peruvian”) whereby by Peruvian completed it’s earn-in requirement by investing USD $250,000 into the project. Recent sampling from the main structure returned very good results including one sample of 1090 g/t Au and 643 g/t over 0.40 metres.

Current development is focused on the “Main Structure” now called the “The San Juan Vein” exposed both in underground workings and outcrops over an 800-metre strike length.  High grade mineralization occurs in quartz veins hosted in granodioritic rocks. The initial work consists of the development of the main access tunnel located 876 metres above sea level. This main access drift (“876 m level”) is currently at 70 metres and in oxides and is projected to be in the higher-grade sulphide material soon. Mineralized oxide material extracted from the tunnel is being stockpiled for future sale. Samples taken from the stockpiles averaged 5.05 g/t Au and 60.33 g/t Ag.

Artisanal workings expose portions of the San Juan vein including a 53-metre deep shaft where seven chip samples were taken at various depths from a quartz vein containing sulphides. Previously reported assay results from these samples range from 3.06 g/t Au to 24.1 g/t Au, 36 g/t Ag to 865 g/t Ag and 0.31% Cu to 4.94% Cu over an average width of 0.60 meters. The weighted average of the assay results is 10.51 g/t Au, 329 g/t Ag and 1.74% Cu.

Four recent samples taken from quartz veins in the oxide zone above and near the shaft returned values between 11.20 and 1090 g/t Au and 21 and 642 g/t Ag averaging a width of 0.43 metres. Sample PD-09 which assayed 1090 g/t Au or 35.68 oz/t Au and 20.35 oz/t Ag is noted to have coarse gold. Samples were taken between the 930 to 935 m levels.

Two samples taken from the San Juan vein (931 m level) located between the main access tunnel and the shaft averaged 11.25 g/t Au and 3.01 oz/t Ag.  Approximately 90 metres of advancement on the main access level is required to reach the downdip projection of these veins.

Sample results from the recent sampling and previous are noted in the table below:

Assays Results:

Sample #          g/t Au   g/t Ag               Description                                                          Level

PD-04               29.41    137                   oxide qtz vein 0.2 m outcrop                              933 m

PD-05               0.99       5.3                   wall rock to PD-04 – oxide breccia                    933 m

PD-08               11.20    163                   oxide qtz vein 0.6 m outcrop                              922 m

PD-09               1090     643                   oxide qtz vein 0.4 m taken in shaft                    922 m

PD-10               11.84    21.1                  oxide qtz vein 0.5 m taken in workings             922 m

V-1                    16.7      63.4                  oxide qtz vein – brxx                                             931 m

V-2                    6.14      123                   oxide qtz vein – workings                                    928 m

144085*            55.3      645                  oxide qtz vein 0.4 m taken in shaft                    927 m

144086*            0.87      35.1                 wall rock to PD-05 – oxide breccia                    927 m

*Samples taken in 2018 by the Company’s geologist

The Company continues to advance the underground development towards obtaining a bulk sample of the high-grade Au-Ag-Cu material. The main drift is expected to intersect sulphide mineral soon. The extracted mineral from the property will be processed at the Company’s 80% owned fully permitted Aguila Norte processing plant located in Northern Peru. The oxide gold material extracted from the workings will be sold to a CIL/CIP plant once sufficient material has been accumulated.

Chris Verrico, Chief Executive Officer of Rio Silver commented: “We are pleased with the underground development at Palta Dorada. These high-grade values bode well for the potential we see at the project. Oxide gold material is currently being extracted and being stockpiled for sale. We expect to be in sulphides soon and will be shipping our first bulk material for processing at Peruvian’s nearby Aguila Norte Plant”.

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 Inc. is a Canadian Exploration and Mine Development company. Our business is to develop the 100% owned Ninobamba project and to unlock the underlying potential for shareholder value identified from the previous $10 million spent by Newmont and others at both, Ninobamba Main and  Jorimina Zone’s. The Company’s recently commissioned & independently constructed ‘exploration potential” model for Ninobamba Main has identified exciting development potential. Benefits are anticipated to 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 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, 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.