Mr. Chris Verrico reports

RIO SILVER ANNOUNCES CLOSING OF THE PRIVATE PLACEMENT

Rio Silver Inc. has closed its non-brokered private placement, previously announced on Sept. 24, 2025, by issuing an aggregate of 22 million units of the company at a price of 10 cents per unit for gross proceeds of $2.2-million.

Each unit is composed of one common share of the company and one share purchase warrant, with each warrant exercisable to purchase an additional common share of the company at a price of 15 cents per common share for a period of three years from the date of issue, subject to early expiry in the event that the closing price of the common shares of the company is 25 cents or higher for 15 consecutive trading days at any time after the closing of the offering, upon which the warrants will expire 30 calendar days after notice to warrantholders through the company's announcement with respect to the early expiry date.

In connection with the closing of the offering, the company paid finders' fees of $70,920 in cash and issued 709,200 finders' warrants, having the same term as the warrants, in payment of finders' fees. All securities issued are subject to a statutory four-month hold period expiring on March 12, 2026.

The company intends to use the net proceeds of the offering toward the exploration and development of the company's projects in Peru, toward exploration and development of the Gerow Lake project in Northern Ontario, and for general working capital purposes. Notwithstanding the foregoing, the company will not use the proceeds of the offering on the Maria Norte project until the TSX Venture Exchange has approved of the acquisition of the Maria Norte project, announced March 26, June 25, Aug. 12 and Sept. 17, 2025.

We seek Safe Harbor.