Mr. Christopher Verrico reports

RIO SILVER TO COMPLETE 5:1 CONSOLIDATION

Rio Silver Inc., further to its news release on May 1, 2025, will consolidate its common shares on the basis of one postconsolidation share for five preconsolidation common shares.

The company expects that the TSX Venture Exchange will issue a bulletin in short order, confirming that the company's common shares will then commence trading on a postconsolidation basis effective on or about the opening of trading on Thursday, July 3, 2025. There will be no change to the company's name or trading symbol. The new Cusip number and ISIN for the postconsolidation shares are 76721A 11 3 and CA 76721A 11 3 1, respectively.

No fractional common shares will be issued, and fractions of less than one-half of a common share will be cancelled and fractions of at least one-half of a common share will be converted to a whole common share. Outstanding options, warrants and other convertible securities will likewise be adjusted for the consolidation, with the number of underlying common shares and exercise prices being adjusted accordingly.

The company currently has 84,832,845 common shares issued and outstanding, and immediately following the consolidation, the company expects to have, subject to rounding adjustment, approximately 16,966,572 common shares issued and outstanding, none of which are subject to escrow.

Letters of transmittal will be mailed shortly to registered shareholders who hold share certificates, with instructions for the exchange of existing share certificates for new share certificates. Shareholders holding uncertificated shares (such as BEO, NCI and DRS positions) will have their holdings adjusted electronically by the company's transfer agent and need not take any further action to exchange their preconsolidation shares for postconsolidation shares.

The company expects that the consolidation will provide the company with increased flexibility in structuring and completing financings and potential business transactions. Shareholder approval for the consolidation was received at the company's annual general and special meeting of shareholders held on June 12, 2025, as previously announced on June 25, 2025.

We seek Safe Harbor.