Rio Grande Arranges Financing

Rio Grande Mining Corp.

Suite 1128, 789 West Pender Street Vancouver, BC, V6C 1H5 Tel: (604) 669-9330 Fax: (604) 669-9335

FOR IMMEDIATE RELEASE September 11, 2012

RIO GRANDE ARRANGES FINANCING

Vancouver, BC, September 11, 2012: Rio Grande Mining Corp. (RGV - TSX-V) (the “Company”) announces that it has arranged, subject to TSX Venture Exchange acceptance, a private placement of 6,250,000 units at $0.08 per unit for total gross proceeds of $500,000. Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share for a period of three years at a price of $0.15 per share.

Finders’ fees may be payable in whole or in part with respect to the placement pursuant to the policies of the TSX Venture Exchange.

Proceeds of the placement will be used for general working capital.

On behalf of the Board of Directors,

John Bevilacqua President & CEO Rio Grande Mining Corp.

(604) 669-9330

Neither TSX Venture Exchange nor 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.