RIO Silver Relies ON Temporary Exemption

RIO SILVER RELIES ON TEMPORARY EXEMPTION

Vancouver, British Columbia – June 1, 2020 – Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO)

reports that, further to its news release on April 30 2020, the Company is relying on the provisions of BC

Instrument 51 -515: Temporary Exemption (the “Temporary Exemption”) from Certain Corporate Finance

Requirements, and equivalent instruments in Alberta, with respect to the filing of its first quarter ended March

31, 2020. 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 first quarter financial statements no later than July 1 6, 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.

Chris Verrico

President and Chief Executive Officer

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 its 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 reasonable assumptions, such statements are

not a guarantee of future performance and actual results or developments may differ materially fro m 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.