Mr. Chris Verrico reports

RIO SILVER LAUNCHES METALLURGICAL PROGRAM TO DE-RISK PROCESSING AND OPTIMIZE SILVER RECOVERIES AT MARIA NORTE

Rio Silver Inc. has initiated metallurgical testwork that will assist in designing a process flow sheet to optimize silver recoveries from planned mineral extraction and processing activities at its Maria Norte project, Peru.

This is an important step in defining the metallurgical characteristics of the mineralization at Maria Norte. Results of this work will assist the company in assessing the project's potential value. It is expected that continuing metallurgical work will pursue optimization within a disciplined, low-capital-intensity development framework.

Metallurgical review and flow sheet design work

Representative samples of mineralization collected along the targeted Maria vein, beginning at the planned portal access site and extending along surface exposures, have been submitted to Asesor Procesos Metalurgicos, a specialist firm in mineral processing circuit analysis and design based in Trujillo, Peru.

The metallurgical work is being led by Jose Orlando Moncada Rojas and is focused on:

• Characterizing silver mineralization and liberation behaviour;
• Evaluating processing responses and recovery optimization;
• Designing a preliminary processing flow sheet aligned with third party toll milling scenarios.

Upon completion of the analytical review and process engineering phase, check samples will be submitted to Certimin in Lima, Peru, for an independent follow-up check of the proposed flow sheet design and metallurgical results.

This staged approach is intended to provide technical confidence ahead of processing while maintaining flexibility and capital discipline.

Management commentary

"Metallurgy is the technical foundation that turns mineralization into recoverable silver, and this work is critical to how we move forward," said Chris Verrico, president and chief executive officer of Rio Silver. "By undertaking a detailed metallurgical review and flow sheet design now and then independently verifying those results, we are advancing Maria Norte along a disciplined, low-capex processing pathway. The market should view this as a meaningful step toward processing readiness, one that helps solidify our execution plan."

What is next:

• Completion of metallurgical characterization and flow sheet design;
• Independent verification and certification of results by Certimin in Lima;
• Integration of metallurgical outcomes into processing and toll milling planning;
• Alignment of processing assumptions with access, permits and operational sequencing;
• Continued advancement toward initial processing activities targeted for late 2026 or early 2027.

Why this matters to investors

For investors, metallurgy is one of the most important technical derisking steps on the path to processing and cash flow. Positive, independently verified metallurgical results validate recovery assumptions, confirm processing routes and underpin economic decision making. At Maria Norte, this work directly supports Rio Silver's capital-efficient, third party processing strategy by reducing uncertainty before access and material movement begins. As silver prices remain strong, projects that methodically derisk metallurgy while preserving a low-capital-expenditure development model are increasingly well positioned to convert geological potential into realizable value.

Qualified person

Jeffrey Reeder, PGeo, is a qualified person as defined by National Instrument 43-101, and has reviewed and approved the technical information contained in this news release. Mr. Reeder is a consultant to the company and is not independent within the meaning of National Instrument 43-101.

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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