Mr. Christopher Verrico reports

RIO SILVER ANNOUNCES RESULTS OF AGM

Rio Silver Inc. has released the voting results from its annual general meeting of shareholders, held in Vancouver, B.C., on Aug. 29, 2022. The total number of shares represented by shareholders present in person and by proxy at the meeting was 22.4 million, 30 per cent of Rio's issued and outstanding common shares.

All matters put forward before shareholders for consideration and approval as set out in the company's management information circular dated July 27, 2022, were approved by the requisite majority of votes cast at the meeting. The details of the voting results for the election of directors are set out in the attached table. The shareholders also approved: (i) appointing MNP LLP, chartered accountants, as the company's auditor for the ensuing year and authorizing the directors to set the auditor's remuneration; (ii) fixing of the number of directors of the company at four; and (iii) confirming and approving the company's existing stock option plan.

The details of the voting results for the election of directors are set out herein.

The company will file a report of voting results on all resolutions voted on at the meeting on SEDAR.

About Rio Silver Inc.

Rio Silver is a Canadian exploration and mine development company. Its business is to develop its 100-per-cent-owned Ninobamba project and to unlock the tremendous potential for shareholder value identified from the previous $10-million spent by Newmont and others at both Ninobamba Main and Jorimina zones. Riol Silver's own recently commissioned and independently constructed exploration potential model for Ninobamba Main has identified more world-class development potential. Benefits are also soon to materialize from the carried development of the new Palta Dorada gold-silver project, focusing on a near-term revenue stream.

We seek Safe Harbor.