Mr. Christopher Verrico reports

RIO SILVER PIVOTS TO HIGH-GRADE SILVER EXPLORATION / EXPLOITATION - ANNOUNCES EXECUTIVE CHANGES

Rio Silver Inc. has appointed Eric H. Hinton, PEng, FCIM, to the advisory board.

Mr. Hinton has degrees from Haileybury School of Mines, Queen's University and Laurentian University and is a registered professional engineer in Ontario and Manitoba. Mr. Hinton is a fellow of the Canadian Institute of Mining, Metallurgy and Petroleum and is also designated as a qualified person in underground mining from the Mining and Metallurgical Society of America in addition to a qualified person for National Instrument 43-101. Mr. Hinton's experience in small-scale mining operations (from 50 tonnes per day to 500 tonnes per day) led him to acquire Basic Minerals SAC in Peru to launch the Mercedes project, which will become a 25,000-tonne-per-annum polymetallic producer. His expertise will enable Rio Silver to engage in projects similar to Mercedes such as the recently acquired Maria Norte project, also in Peru, in order to potentially realize positive cash flow in the short term.

Mr. Hinton's assistance managing the development of the recently acquired Maria Norte high-grade polymetallic silver exploitation/exploitation property will bolster the company's mandate for future sustainability.

The company also announces that Christopher Hopton has joined the board of directors. Mr. Hopton presently serves as the company's chief financial officer since 2019 and is a seasoned financial management professional with 25 years of experience leading the financial operations of resource and biotechnology companies across Canada and South America. His expertise spans financial planning, accounting policy and business process optimization. As a trusted consultant in business investment and finance, Mr. Hopton has supported numerous public and private companies in their growth and operational efficiency.

Currently, Mr. Hopton is serving as chief financial officer at Rio Silver. He previously held the role of chief financial officer at Central Resources Corp., a junior mineral exploration company. Mr. Hopton also played a key role in the successful restructuring of 360 Networks, a network communications firm, culminating in a strategic buyout by Bell Canada.

Mr. Hopton holds a bachelor of business administration and is a certified professional accountant (CPA).

In addition, the company announces the resignation of Edward J. Badida from the board of directors. The board would like to thank Mr. Badida for his many contributions on behalf of the company's shareholders over his tenure with the company. Mr. Badida has served as chief financial officer as well as a long-standing board director. Mr. Badida's vast CFA experiences as a financial pilot for junior resource companies aided Rio Silver in its strategies at its many projects in Canada and Peru. The company owes Mr. Badida its gratitude for his loyal and professional outlook protecting shareholder value. The board has greatly valued Mr. Badida's positive demeanour and sense of humour in its gatherings.

Rio Silver president Chris Verrico stated: "We are overjoyed and feel privileged with the high calibre of experience and insight Eric Hinton brings to the table. Having a lifetime of engineering robust and modern solutions for the underground mining industry, Eric will bolster the company's drive towards profitability.

"We also are very pleased to have Chris Hopton step up to the board level and continue to provide and apply his astute guidance and perspective knowledge as we navigate through a period of both challenging times and tremendous opportunity. Both these gentlemen are team players contributing to the generation of both shareholder and stakeholder value through hard work and discipline. These are truly exciting times."

The company also wants to take this opportunity to extend its heartfelt thanks to Mr. Badida for his many years of guidance and insight and wish him only the very best for his long-deserved retirement away from the day-to-day issues of operating a junior mining enterprise.