News

September 6, 2019
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Vancouver, British Columbia – September 6, 2019 – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to provide the following update:

Dear Shareholders,

It is our pleasure, at this obvious juncture in the world’s capital marketplace, to provide an update on Rio Silver Inc. (our “Company”) and our objectives going forward.

It has been very difficult over the past several years for the junior mining industry. As you know, traditional access to equity capital markets for risk capital had all but disappeared. Renewed strength in the price of gold and silver has attracted new interest in our sector. As a junior exploration company, we depend on the equity markets to finance our projects and we feel the timing is now, to start aggressively exploring our Peruvian Flagship Property “Niñobamba” and to seek new gold/silver projects. Over $10 million CDN has been spent on the Company’s property to date.

We feel that the Niñobamba property has the potential to become a world-class discovery. The precious metal mineralization is associated with an acid-sulfate or high sulphidation epithermal system. These types of systems are the main 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.

Niñobamba was considered by many to be a silver only project, however we recognize that these systems are mineralogical-zoned and therefore the Company has constructed a new conceptual model. This new approach aided in discovering a gold zone that was unrecognized by previous operators. An extensive surface trenching program that commenced in 2012 produced very favourable results.

Our first trench was placed in the area where Anglogold drilled an intercept of 130 metres of 2.8 oz/t Ag. The trench exposed extensive high sulphidation alteration returning an impressive 56 metres averaging 1.03 g/t Au and 98.9 g/t Ag. Further trenching 400 meters 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 Ag. The extent of the mineralization continues under deep colluvium. The last sample in the trench returned 0.53 g/t Au and 82 g/t.

In 2016 we expanded the surface areas by acquiring three adjacent concessions from Newmont. This acquisition included an extensive database and selective drill core. The database included assay results for over 6500 surface samples and assay results from 7880 metres of diamond drilling. Highlights from the drilling by Newmont included 72 metres of 1.2 g/t Au on the Joramina Zone, several kms distant from the Ninobamba mineralization. Over $6.5  million US was spent on these additional concessions by Newmont. Several highly anomalous silver zones were located and remain untested by drilling. With a better understanding of the precious metal zoning, more gold zones are likely to be discovered.

Moving forward, our Company will continue the exploration at Niñobamba by first re-establishing a good relationship with the local community. Much surface work is still required to better understand the results from the Newmont database. Permitting will commence shortly, with drilling expected in 2020.

2019 will continue to present many challenges for the junior mining industry. However, we feel that 2020 will be a rewarding year for Rio Silver. While we intend to recommence the exploration at Niñobamba, we continue to review new opportunities.

Our Company has an experienced Peruvian crew and a distinct competitive advantage of being able to generate and/or identify and quickly assess unrecognized opportunities. We are well positioned to take advantage of the world class exploration environment offered by Peru and its wealth of mineral opportunities. We will continue to identify new value generating initiatives for our Shareholders.

In addition the Company is pleased to announce it has moved its corporate headquarters to Vancouver at 1600–595 Burrard St to better align itself with present management, industry wide partners and service providers, and in order to better serve shareholder base.

I would like to express my sincere appreciation to my fellow shareholders for their support over the years and look forward to an exciting future for our Company.

On behalf of the Board of Directors

For more information regarding this press release, please contact:

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 forwardlooking 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.


September 2, 2019

Vancouver, British Columbia – September 2, 2019 – 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 (“Units“) of the Company at $0.05 per Unit for gross proceeds of up to $500,000 (the “Offering“). Each Unit will consist of one common share of the
Company and one common share purchase warrant (each, a “Warrant“) of the Company. Each Warrant will entitle
the holder to acquire one additional common share of the Company at a price of $0.07 per share for a period of 18
months from issuance, unless the closing price of the common shares of the Company is $0.15 or higher for fifteen
(15) consecutive trading days any time after the date that is four months and a day after issue, in which case the
Warrants will expire thirty (30) calendar days after notice to Warrant holders 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 continue modest work on the Company’s Niñobamba silver and gold project in Peru; to meet its immediate
financial obligations and for working capital; and to explore new projects in Peru.

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“). The securities issued herein will be subject to a four-month statutory hold
period. The closing of the Offering is subject to the approval of the Exchange.

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On behalf of the Board of Directors of Rio Silver Inc.

For more information contact:

Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilver.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, 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 18, 2019

April 18, 2019, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce that it has settled an aggregate of $80,503 of indebtedness (the “Debt“) through the issuance of an aggregate of 1,610,060 common shares at a deemed issuance price of $0.05 per common share (the “Transaction”), of which 896,460 common shares were issued to non-arm’s length creditors. All common shares issued to settle the Debt will be subject to a hold period expiring August 19, 2019. Completion of the Transaction will allow the Company to improve its current working capital deficiency position.

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

“Chris Verrico”

President and Chief Executive Officer

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.

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 forwardlooking 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.

For more information contact:
Chris Verrico, President, CEO
Tel: (604) 762-4448

Steve Brunelle, Chairman
Tel: (416) 854-2552


February 22, 2019

(February 22, 2019: Toronto, Canada)  Rio Silver Inc. (TSX.V: RYO) (“Rio Silver” or the “Company”) announces that the Company and Norsemont II Resources Inc. (“Norsemont”) have mutually agreed to terminate their efforts to combine the assets of the companies as described in the earlier news release of the Company dated October 24, 2018. Following Rio Silver’s due diligence review, Rio Silver found a number of irregularities in the title documentation and other inconsistencies with respect to Norsemont’s Cochavara properties in Peru. Despite the parties’ efforts to correct them, as the timeframe for resolution is unknown, the parties have agreed to release each other from the underlying proposal at this time.

In light of the circumstances, both parties determined that it would be in the respective parties’ best interests to proceed on independent courses of business. Norsemont has acknowledged the efficient due diligence efforts of the Rio Silver team and will be reimbursing the Company for direct expenses incurred on behalf of Norsemont at its Cochavara properties. The companies will remain in contact over future opportunities.

Rio Silver remains excited by the opportunity presented at its wholly owned Ninobamba precious metal property in central Peru. The Company will be focusing its efforts on arranging financing to move forward with a significant exploration effort at this project in the year ahead.

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Jeffrey Reeder, P.Geo., and 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.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
Jeffrey Reeder
CEO and Director.

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 forwardlooking 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 more information contact:
Steve Brunelle, Executive Chairman
Tel: (416) 479-9546

Jeffrey Reeder, Director and CEO
Tel: (647) 302-3290

Website: www.riosilverinc.com


January 19, 2019

January 19, 2017, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce that, further to its previous news release on January 13, 2017, the Company has received regulatory approval to close the second of two financings contemplated in its transaction (“Transaction”) with Magellan Gold Corporation (“Magellan”) (OTCQB – MAGE). The second financing was a non-brokered private placement (the “Offering“) consisting of 1,250,000 units (“Units“) of the Company at $0.06 per Unit for gross proceeds of $75,000. Each Unit consists of one common share of the Company and one common share purchase warrant (each a “Warrant”) entitling the holder to acquire one common share of the Company at a price of $0.06 per share until July 19, 2018. All securities in the Offering were acquired by Magellan. The securities issued will be subject to a four-month statutory hold period until May 20, 2017. No finder’s fees were paid in connection with the Offering. The proceeds from the Offering will be used for working capital and general and administrative purposes.

Prior to giving effect to the recent acquisition, Magellan held ownership and control over 1,500,000 common shares of the Company, representing 5.11% of the issued and outstanding shares of the Company, and 1,500,000 warrants (which would represent 9.80% of the then issued and outstanding common shares of the Company assuming exercise of the 1,500,000 warrants). After giving effect to the shares and warrants acquired in the Offering, Magellan holds 2,750,000 common shares, representing 8.99% of the issued and outstanding shares of the Company. Assuming exercise of the 2,750,000 warrants now held, Magellan would hold 5,500,000 common shares of the Company, representing 16.49% of the issued and outstanding shares of the Company.

The shares and warrants were acquired for investment purposes. In the future, Magellan or its affiliates may acquire additional securities of the Company or dispose of such securities through the market or otherwise subject to a number of factors, including general market and economic conditions, other investment and business opportunities available and other circumstances.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated January 19, 2017. The early warning report respecting the transaction has been filed on the System for Electronic Document Analysis and Review (“SEDAR”) under the Company’s profile at www.sedar.com or may be obtained by contacting Dan Hamilton at (416-479-9546).

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The Purchaser’s office is at 2010A Harbison Drive #312, Vacaville, California, USA, 95687.

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

Jeffrey Reeder
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 forwardlooking 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 more information contact:
Jeff Reeder, President, CEO
Tel: (647) 302-3290

Dan Hamilton, Chief Financial Officer
Tel: (647) 302-3290 Tel: (416) 479-9546

Website: www.riosilverinc.com


November 7, 2018

November 7, 2018: Toronto, Canada and Lima, Peru) Rio Silver Inc. (TSX.V: RYO) (“Rio” or the “Company”) is pleased to announce that the Company has signed a non-binding letter of intent (“LOI”), effective October 24, 2018, with Norsemont II Resources Corp. (“Norsemont”), a private Ontario based company. Norsemont owns a 100% interest in the Cochavara Silver-Lead-Zinc Project (“Cochavara”) in Northern Peru. Cochavara consists of two concessions totalling 1979 hectares located in the Department of La Libertad in Northern Peru, approximately 70 kilometres east of the city of Trujillo.

The historic Quiruvilca silver/lead/zinc mine (“Quiruvilca”) is located 3.5 kilometres north east of the northern
boundary of Cochavara. Both Cochavara and Quiruvilca are located within the Mid-Miocene Calipuy volcanic complex that hosts several world class precious metal deposits such as Newmont’s Yanacocha and Barrick’s Pierina gold mines, which are located approximately 120km north and 180km southeast of Cochavara, respectively. Mineralization hosted at Quiruvilca, Yanacocha and Pierina is not necessarily reflective of the mineralization that may be hosted on the Cochavara Silver-Lead-Zinc Project.

According to Bartos1, mineralization at Quiruvilca is controlled by a series of ENE-striking polymetallic (Ag/Pb/Zn) vein swarms which have extensive lateral and vertical continuity with abundant splits and pinch and swell structures. The mineralization observed and mapped by the Company’s geologist shows that mineralization at Cochavara is similarly controlled and occurs along strike of the Quiruvilca vein swarms. Production from the Quiruvilca mine was first recorded in 1789, and has been mined on an industrial scale since 1924. More recently, Pan American Silver acquired the Quiruvilca mine in 1995 and sold the mine to a private company in 2012. Cochavara currently has a valid exploitation permit to extract mineral for processing at third party plants. During 2018, Cochavara underground development provided access to the main mineralized vein structure. The development adit was used to drift along the mineralized structure, to provide mineralized material for processing and to provide access for underground drilling.

Terms of the LOI:
Subject to regulatory and all other necessary approvals, Rio will acquire all the issued and outstanding securities
of Norsemont such that Norsemont shareholders will hold, upon closing, 50% of the shares of Rio on a nondiluted basis. The calculation for the share exchange will include any shares for debt completed by Rio, but exclude any private placement share issuances, prior to closing.

As at the date hereof, Rio has 41,049,885 common shares issued and outstanding. In connection with the
transaction, Rio intends to conduct up to $500,000 in private placements and shares for debt settlements, at a price of $0.05 per share. The final terms of the private placements remain to be determined, and may include warrants issued in accordance with the policies of the TSX Venture Exchange. Upon completion of the proposed transaction, Mr. Eric Sprott will become the Company’s largest shareholder. Rio will provide the ongoing
management team for the Company and the Board will be reconstituted with 2 members from each of the respective companies. At the present time, it is expected that Messrs. Jeffrey Reeder and Steve Brunelle (both current directors of Rio), and Chris Irwin and Stephen Dunn (proposed appointees of Norsemont) will serve as the directors.
The transaction remains subject to due diligence, the entering into of a definitive agreement, the receipt of all
necessary approvals, and each party having less than $200,000 in liabilities, in addition to other terms and
conditions that are customary for a transaction of this nature. Under the rules of the Exchange, shareholder
approval for the creation of a control person will be necessary, and Rio will use its best efforts to cause its insiders to enter into “lock-up” agreements in support of the transaction.

Highlights of the Proposed Transaction:

  • Cochavara and Rio’s Ninobamba precious metals project represent 2 exceptional 100% owned Peruvian
    mineral properties,
  • Exploration and development of these projects will be managed by Rio’s experienced Peruvian team that has
    been operating successfully in Peru for over 25 years,
  • Ongoing G&A will be consolidated and the increased market capitalization should provide increased liquidity
    for all shareholders

Jeffrey Reeder, P.Geo., and 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.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
Steve Brunelle
Chairman and Director.

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 more information contact:
Steve Brunelle, Executive Chairman
Tel: (416) 479-9546
Website: www.riosilverinc.com


September 10, 2018

September 11, 2018, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce the appointment of Mr. Christopher Verrico to the Board of Directors of the Company. Mr. Verrico has over 30 years of experience in the mining industry and has been a director of approximately one dozen resource companies. The appointment is subject to TSX Venture Exchange approval.

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

“Steve Brunelle”
Chairman

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.

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 forwardlooking 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.

For more information contact:
Jeff Reeder, President, CEO
Tel: (647) 302-3290

Steve Brunelle, Chairman
Tel: (416) 854-2552


July 5, 2018

July 5, 2018, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) announces that it has received TSX Venture Exchange approval to settle an aggregate of $42,894 of indebtedness (the “Debt“) owed to certain arm’s length and non-arm’s length creditors through the issuance of an aggregate of 857,879 common shares at a deemed issuance price of $0.05 per common share (the “Transaction”), of which 497,200 common shares will be issued to non arm’s length creditors. All common shares issued to settle the Debt will be subject to a hold period expiring on November 5, 2018. Completion of the Transaction will allow the Company to improve its current working capital deficiency position.

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

“Jeffrey Reeder”
President and Chief Executive Officer

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.

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 forwardlooking 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.

For more information contact:
Jeff Reeder, President, CEO
Tel: (647) 302-3290

Steve Brunelle, Chairman
Tel: (416) 854-2552


June 1, 2018

June 1, 2018, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce that it has completed its previously announced non-brokered private placement financing (the “Offering“) raising aggregate gross proceeds of $100,000. The Offering consisted of 2,000,000 units (“Units“) at $0.05 per Unit for gross proceeds of $100,000. Each Unit consists of one common share of the Company and one common share purchase warrant (each, a “Warrant“) of the Company. Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.06 per share. The Warrants will expire twelve months from the date of issue unless the closing price of the common shares of the Company is $0.10 or higher for twenty (20) consecutive trading days any time after the date that is four months and a day after issue, in which case the Warrants will expire thirty (30) days after notice to Warrant holders announcing an earlier expiry date. Finder’s fees of $2,800 in cash were paid in connection with the closing of the Offering. The Offering is subject to final approval of the TSX Venture Exchange.

As previously announced, the proceeds from the Offering will be used to (i) continue modest work on the Company’s Niñobamba silver and gold project in Peru, (ii) meet its immediate financial obligations, and (iii) for working capital.

The securities issued herein will be subject to a four month statutory hold period expiring on October 2,
2018.

Insiders of the Company acquired a total of 500,000 Units in the Offering (the “Insider Participation”), which is considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 in respect of such Insider Participation. No new insiders were created, nor has there been any change of control as a result of the Offering.

Prior to the closing of the Offering, Mr. Steven Brunelle, a director of the Company, was the beneficial holder of 3,640,796 common shares of Rio Silver (representing 9.63% of the then issued and outstanding common shares) and no common share purchase warrants of the Company (representing 9.63% of the then issued and outstanding common shares on a partially-diluted basis). Pursuant to the Offering, Mr. Brunelle acquired beneficial ownership and control of 200,000 common shares (0.02%) and 200,000 Warrants. As a result, Mr. Brunelle now has ownership, direction and control over an aggregate of 3,840,796 common shares, representing 9.65% of the issued and outstanding common shares of the Company. Mr. Brunelle would have ownership, control and direction over 4,040,796 common shares, representing 10.10% of the Company’s then outstanding common shares, assuming exercise of Mr. Brunelle’s common share purchase warrants on a partially-diluted basis). The common shares were issued from treasury of the Company pursuant to the Offering and were not acquired on the secondary market.

The Units were acquired by Mr. Brunelle for investment purposes. In the future, Mr. Brunelle may acquire additional securities of the Company or dispose of such securities through the market or otherwise subject to a number of factors, including general market and economic conditions, other investment and business opportunities available and other circumstances.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated November 22, 2017. The early warning report will be filed on the System for Electronic Document Analysis and Review (“SEDAR”) under the Company’s profile at www.sedar.com and may be obtained by contacting Dan Hamilton at (416) 867-1591.

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

Steven Brunelle
Chairman

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 more information contact:
Steven Brunelle, Chairman
Tel: (416) 867-1591

Dan Hamilton, Chief Financial Officer
Tel: (416) 867-1591 Tel: (416) 867-1591

Website: www.riosilverinc.com


March 22, 2018

March 22, 2018, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased
to announce a non-brokered private placement of up to 2,000,000 units (“Units“) at $0.05 per Unit for gross proceeds of up to $100,000 (the “Offering“). Each Unit will consist of one common share of the Company and one common share purchase warrant (each, a “Warrant“) of the Company. Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.06 per share. The Warrants will expire twelve months from the date of issue unless the closing price of the common shares of the Company is $0.10 or higher for twenty (20) consecutive trading days any time after the date that is four months and a day after issue in https://www.mcrwebsolutions.co.uk/how-to-make-your-business-website-load-faster/, in which case the Warrants will expire thirty (30) days after notice to 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 (i) continue modest work on the Company’s Niñobamba silver and gold project in Peru, (ii) meet its immediate financial obligations, and (iii) for working capital.

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“). The securities issued herein will be subject to a four month statutory hold period. The closing of the Offering is subject to the approval of the Exchange.

A portion of the Offering will be a “related party transaction” under Multilateral Instrument 61-101 Protection of
Minority Security Holders in Special Transactions (“MI 61-101“). There has been no formal valuation of the Company
or its assets to date, as there has not been any necessity to do so. The Offering is exempt from the formal valuation requirements under Section 5.4 of MI 61-101 and the minority approval requirements under Section 5.6 of MI 61-101 pursuant to the Company’s reliance on the financial hardship exemption under Sections 5.5(g) and 5.7(1)(e), respectively, of MI 61-101. Completion of the Offering will allow the Company to continue modest work on its
exploration properties and improve its current working capital deficiency position.

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

Jeffrey Reeder
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 more information contact:

Jeff Reeder, President, CEO
Tel: (647) 302-3290

Dan Hamilton, Chief Financial Officer
Tel: (416) 479-9546

Website: www.riosilverinc.com