RIO Silver Announces Grant of Stock Options

RIO SILVER ANNOUNCES GRANT OF STOCK OPTIONS

Vancouver, British Columbia – December 24, 2021 – Rio Silver Inc . ("Rio Silver" or the "Company")

(TSX.V: RYO), announces that it has granted 1,000,000 incentive stock options to a Director and Officer.

The Company has also granted 400,000 to a consultant . The option to purchase common shares in the

capital of the Company, at a price of $0.05 per common share, will be for a period of 5 years and one year

respectively. The options have been granted under the terms of the Company’s stock option plan.

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 and others at both, Ninobamba Main and Jorimina Zone’s.

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 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]

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 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.