Mr. Chris Verrico reports

RIO SILVER ACQUIRES SECOND HIGH-POTENTIAL SILVER-LEAD-ZINC PROJECT IN CENTRAL PERU

Rio Silver Inc.'s Peruvian subsidiary, Rio Plata SAC, has acquired the Santa Rita Pb-Zn-Ag (lead-zinc-silver) property, a highly prospective exploration target with extensive historical workings and strong silver-lead-zinc showings in central Peru.

A representative sample has been submitted for metallurgical testing, which is now under way. Historical work completed by previous operators has guided Rio Silver's internal evaluation, and the company will provide further disclosure as the metallurgical review advances toward completion.

Santa Rita was secured through a closed-bid auction for $130,000.00 (U.S.), a process that grants the winner a clear and unencumbered title. Rio Plata was the successful bidder and is now proceeding through Peru's standard title confirmation process, expected to take approximately two to three months. The property comprises 570 hectares and lies within one of Peru's richest mineral belts.

Strategic location in a premier silver belt

Santa Rita is situated approximately 200 kilometres east-southeast of Lima, with road access from two directions and in close proximity to significant regional silver-lead-zinc operations. The project is located:

• 55 km northwest of Rio Silver's flagship Maria Norte Au-Ag-Pb-Zn (gold-silver-lead-zinc) project;
• 14 km southwest of Kuya Silver's producing Bethania mine (TSX Venture Exchange: KUYA).

This corridor hosts a concentration of long-life underground operations, carbonate-replacement deposits (CRDs) and active processing capabilities, making it one of the most productive polymetallic regions in Peru.

Geology and historical work

Extensive exploration was conducted at Santa Rita by Inca Minerals between 2016 and 2020 under an option agreement that was subsequently relinquished due to rising underlying payments -- not geological limitations. Following non-payment of annual taxes, the area reverted to the state in 2024 and became available for new application in mid-2025, at which point Rio Plata secured it.

Historical work identified Santa Rita as a carbonate replacement deposit (CRD) system characterized by:

• 20-plus steeply dipping east-west veins;
• Intersecting shallow-dipping mantos.

Two priority zones were highlighted-Humaspunco East and Humaspunco South -- with mineralization hosted within carbonate sequences.

A strengthened district-scale vision

"Santa Rita sits in the same mineralized corridor as our principal Maria Norte project, and its acquisition meaningfully expands our footprint within what we see as an emerging silver district in central Peru," said Chris Verrico, president and chief executive officer of Rio Silver. "Securing this project through a clean, closed-bid process gives us 100-per-cent ownership with no underlying royalties or option obligations, which aligns perfectly with the disciplined approach we are taking across our portfolio. The reported high-grade CRD veins currently being confirmed by our field team reinforce the near-term development potential we are targeting, and Santa Rita adds another important building block as we advance our strategy to establish Rio Silver as a pure-play silver developer in one of the world's most prolific jurisdictions."

Next steps for Rio Silver

• Pending approval of Maria Norte acquisition: The company looks forward to announcing the formal closing of the Maria Norte transaction upon TSX Venture Exchange approval, which will enable immediate commencement of planned fieldwork and early development activities.
• Metallurgical testing under way: A representative sample from the Santa Rita project is currently undergoing metallurgical evaluation, and the company anticipates providing an update as the review advances toward completion.
• Near-term development pathway: Preparations are under way for initial on-site work programs including camp installation, portal access upgrades and explosives permitting. These steps support Peru's established exploration and exploitation model and allow development to advance alongside exploration and resource definition.
• Infrastructure and cost advantages: Both Maria Norte and Santa Rita benefit from proximity to multiple regional processing facilities within trucking distance, providing an opportunity to advance high-grade silver assets quickly and at comparatively lower capital intensity.
• Strong exploration and market tailwinds: With high-grade CRD and vein systems identified across both projects and further target refinement under way, the company is positioned to advance exploration in a period of record high silver prices and tightening global supply, creating meaningful upside exploration potential as work progresses expediently.

Why this matters to investors

The addition of Santa Rita further positions Rio Silver at the center of one of Peru's most prospective silver-lead-zinc regions. The project offers:

• High-grade CRD mineralization with strong Ag-Pb-Zn values;
• Low-entry cost and 100-per-cent ownership with no royalties;
• Road access and proximity to producing mines and processing centres;
• Geological continuity with the mineralized belt hosting Maria Norte;
• A scalable platform for district-wide growth with synergies between projects.

Together with Maria Norte, the addition of Santa Rita accelerates Rio Silver's evolution into a pure-play, district-focused silver developer in one of the world's premier silver jurisdictions. These assets establish a foundation with meaningful exploration upside and clear pathways for near-term advancement.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Jeffrey Reeder, PGeo, a qualified person as defined by National Instrument 43-101. Mr. Reeder acts as an independent adviser and consultant to Rio Silver and is also a shareholder of the company.

About Rio Silver Inc.

Rio Silver is a Canadian resource company advancing high-grade, silver-dominant assets in Peru, the world's second-largest silver producer. The company is focused on near-term development opportunities within proven mineral belts and is supported by a seasoned technical and operational team with deep experience in Peruvian geology, underground mining and district-scale exploration. With a clear development strategy and a growing portfolio of highly prospective silver assets, Rio Silver is establishing the foundation to become one of Peru's next emerging silver producers.

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