Rio Grande Completes Initial Public Offering

RIO GRANDE MINING CORP.

200 – 551 Howe Street Vancouver, B.C. V6C 2C2 Telephone: (604) 683-8610 Facsimile: (604) 683-4499

NEWS RELEASE

RIO GRANDE COMPLETES INITIAL PUBLIC OFFERING

March 12, 2010

RIO GRANDE MINING CORP. (the “Company”) (TSX-V: “RGV”) is pleased to announce that it has completed its Initial Public Offering of 4,300,000 common shares at a price of $0.20 per common share (the “IPO”) for gross proceeds of $860,000. Canaccord Financial Ltd. (the “Agent”) has been paid a cash commission equal to 8% of the proceeds from the sale of common shares pursuant to the IPO and a corporate finance fee comprised of 100,000 common shares, of which 14,000 are subject to a hold period expiring on July 12, 2010. Additionally, the Company has granted agent’s warrants to the Agent entitling them to purchase up to 344,000 common shares at an exercise price of $0.20 per common share, exercisable on or before March 11, 2012. The Company currently has 8,018,000 common shares issued and outstanding.

The Company also announces that it has received approval of its application to list its common shares on the TSX Venture Exchange (“TSX-V”). The Company’s common shares will commence trading on the TSX-V on Monday, March 15, 2010 under the trading symbol “RGV”.

About the Company

The Company is engaged in the business of mineral exploration in the Province of British Columbia. Its objective is to locate and develop economic precious and base metals properties of merit and to conduct its exploration program on the Kechika Properties.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “Jerry A. Minni”

Jerry A. Minni, President and Chief Executive Officer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.