Mr. Christopher Verrico reports

RIO SILVER ANNOUNCES GRANT OF STOCK OPTIONS

Rio Silver Inc. has granted an aggregate of two 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 one 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 favourable precious metals bull market. Its Peruvian precious metal assets are wholly owned with no royalty obligations. The Ninobamba area Au/Ag (gold/silver) targets are economically attractive as the mineralization suggests near-surface, bulk-minable open-pit targets.

Rio Silver is pleased with its host country as the government continues to support mining policies ensuring continued growth and opportunity throughout Peru.

We seek Safe Harbor.