Rio Silver Receives Conditional Approval for Acquisition of Mamaniña Exploraciones S.A.C.

Rio Silver Receives Conditional Approval for Acquisition of Mamaniña

Exploraciones S.A.C.

VANCOUVER, British Columbia, May 16, 2025 -- Rio Silver Inc. (the “Company”) (TSX.V: RYO) (OTC: RYOOF) announces

that, further to its announcement on March 26, 2025, it has received from the TSX Venture Exchange (the “Exchange”)

conditional acceptance (the “Conditional Approval”) of the proposed transaction (the “Transaction”) with Peruvian Metals Corp.

for the acquisition of Mamaniña Exploraciones S.A.C.

The Company is working to satisfy the remaining conditions outlined in the Conditional Approval and will be making further

announcements in respect thereof including without limitation the geological report prepared in accordance with National

Instrument 43-101 and other items. The Transaction remains subject to the Exchange’s final acceptance.

There can be no assurances that the conditions under the Conditional Approval will be satisfied or that the Transaction will be

completed as proposed or at all.

ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.

Chris Verrico

Director, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of

this release.

For further information,

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: [email protected]

Website: www.riosilverinc.com

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other

than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations

expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of

future performance and actual results or developments may differ materially from those in forward-looking statements. Factors

that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation

and exploration successes, continued availability of capital and financing, and general economic, market or business

conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on

their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except

as required by applicable laws.