RIO SILVER ANNOUNCEMENT

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: [phone]Email: [e-mail]   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 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.