Trading in the Company’s common shares will commence on a post-Share Split

Rio Grande Mining Corp. (RGV-TSX V)

Suite 200 – 551 Howe Street Vancouver, B.C. V6C 2C2 Tel: (604) 683-8610, Fax: (604) 683-8605

FOR IMMEDIATE RELEASE November 30, 2010

FORWARD SHARE SPLIT

Rio Grande Mining Corp. (the “Company”) is pleased to announce that it will be proceeding with the two for one share split previously announced by news release dated September 13, 2010 and as accepted by the TSX Venture Exchange. Each shareholder of record will be issued two common shares of the Company for each one currently issued and outstanding common share of the Company held by such shareholder (the "Share Split"). After giving effect to the Share Split, the Company will have approximately 21,589,200 common shares issued and outstanding. Trading in the Company’s common shares will commence on a post-Share Split basis on December 1, 2010 under the Company’s current symbol “RGV”. The Company’s name will not change in conjunction with the Share Split.

Outstanding stock options and share purchase warrants will also be adjusted by the Share Split and their respective exercise prices will be adjusted accordingly.

Letters of Transmittal are being mailed to shareholders of record with instructions to return their present share certificates in exchange for new share certificates of the Company.

On Behalf of the Board,

“Jerry A. Minni”

Jerry A. Minni President & CEO

Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.