RIO Silver Announcement

RIO SILVER ANNOUNCEMENT

Vancouver, British Columbia – March 20, 2020 – Rio Silver Inc . ("Rio Silver" or the "Company") (TSX.V: RYO)

announces that during the timing of the recent closing of a non-brokered private placement announced March 11, 2020

by the Company, systemic events have delayed the official closing due to registered stock holding accounts of certain

potential investors becoming compromised. Out of an abundance of caution, the Company felt it necessary to cancel

the above announced closing in order to allow our placee’s additional time to re- balance their holdings and allow the

markets time to stabilize.

About Rio Silver

Rio Silver Inc. is a Canadian Exploration and Mine Development company. Our business is to develop our 100% owned

Ninobamba project and to unlock the tremendous potential for shareholder value identified from the previous $10

million spent by Newmont at the Jorimina Zone and others . Our own recently commissioned & independently

constructed "exploration potential" model for Ninobamba Main has identified more world class development potential.

Benefits are also soon to materialize from the carried development of the our new Palta Dorada Au Ag project, focusing

on a near term revenue stream. 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 reasonable 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 assuran ces

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.