Mr. Chris Verrico reports

RIO SILVER CLOSES THE ACQUISITION OF THE MARIA NORTE AG-AU-PB-ZN PROPERTY IN CENTRAL PERU

Rio Silver Inc., following regulatory approval, has closed the previously announced transaction with Peruvian Metals Corp. to acquire 100 per cent of the issued and outstanding common shares of Mamanina Exploraciones S.A.C., a Peruvian corporation, which holds mining rights in the Maria Norte project, located in Peru. The details and the terms of the transaction are summarized in the company's previous news releases on March 26, 2025, June 25, 2025, and Sept. 17, 2025.

Pursuant to the terms of the transaction, on closing, Rio Silver has acquired from Peruvian 100 per cent of the issued and outstanding common shares of the subsidiary. In consideration, Rio Silver issued to Peruvian 3,999,999 common shares of the company, representing 9.27 per cent of the company's issued and outstanding share capital (accounting for the recent 1:5 share consolidation completed on July 3, 2025), and, in addition, under the terms of the transaction, the company is required to pay an aggregate of $250,000 (U.S.) by making semi-annual payments to Peruvian over a period of five years commencing on June 15, 2025. To date, the company has made the following cash payments: (i) $15,000 (Canadian) upon signing; (ii) $22,500 (U.S.) upon an amendment; and (ii) $25,000 (U.S.) option payment on June 15, 2025, resulting in $225,000 (U.S.) payable in remaining option payments.

A geological report prepared in accordance with National Instrument 43-101 in respect of the Maria Norte property will be filed at the company's profile on SEDAR+.

We seek Safe Harbor.