RIO Silver – Annual Audited Financials

RIO SILVER – ANNUAL AUDITED FINANCIALS

Vancouver, British Columbia – April 28, 2020 – Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO)

reports that the Company is relying on the provisions of BC Instrument 51 -515: Temporary

Exemption from Certain Corporate Finance Requirements, and equivalent instruments in Alberta,

with respect to the filing o f its annual financial statements for the fiscal year ended December 31,

2019. The Company’s management and other insiders have been advised that they are subject to a

trading black-out consistent with the principles in section 9 of National Policy 11-207. The Company

expects to file its annual financial statements no later than June 13, 2020. The Company is not

aware of any material business developments not previously disclosed since the date of its last

financial statements.

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

About Rio Silver

Rio Silver Inc. is a Canadian -based resource company with a mandate to acquire, explore and develop

precious metal deposits in the Americas. Rio Silver’s experienced Peruvian exploration team is instrumental

in planning and conducting the work program at i ts 100% owned flagship property, Ninobamba in Peru.

Management continues to add shareholder value through effective and efficient exploration, strategic property

acquisitions and sound financial management. For more information, please visit: https://www.riosilverinc.com/

For more information contact:

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: [email protected]

Website: www.riosilverinc.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 rea sonable assumptions, such statements are

not a guarantee 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 for ward-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.