Mr. Jason Barnard reports

RIO GRANDE RESOURCES ANNOUNCES CLOSING OF FULLY SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

Rio Grande Resources Ltd. has successfully closed its non-brokered, full subscribed private placement, which was previously announced on May 30, 2025, issuing an aggregate of 13,328,900 units of the company at a price of 10 cents per unit for gross proceeds of $1,332,890. Each unit consisted of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional share of the company at a price of 20 cents per share for a period of 24 months from the date of issuance.

Certain directors and officers of the company acquired units under the private placement. Such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any units issued to, or the consideration paid by, such persons will exceed 25 per cent of the company's market capitalization.

All securities issued in connection with the private placement are subject to a hold period of four months and one day pursuant to applicable securities laws. A total of $300 in fees were paid in connection with the private placement.

The net proceeds from the placement will be allocated towards exploration activities and for general corporate purposes. In accordance with the regulations of the Canadian Securities Exchange. All securities issued pursuant to the private placement will be subject to a hold period of four months and one day as required under applicable securities legislation.

The company would also like to advise that the warrant term is 24 months, not 30 months as previously stated on the May 30, 2025, news release. All other terms of the private placement remain unchanged and the company regrets any confusion this may have caused.

About Rio Grande Resources Ltd.

Rio Grande Resources is a burgeoning mineral exploration company focused on unlocking the high-grade gold and silver potential within its 3,000-acre drill-ready property in the Black Range of Sierra county, New Mexico. The company holds a 100-per-cetn interest in the Winston project group, which includes the two patented historical Ivanhoe and Emporia claims, and Little Granite mines, all known for their past production of high-grade precious metals. Rio Grande Resources is led by a team of experienced professionals with expertise in mineral exploration and development, who are targeting large-scale precious metal discoveries within the property's well-documented low-sulphidation epithermal setting.

We seek Safe Harbor.