Rio Silver Announces Results of AGM

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) is pleased to announce the voting results from its Annual General Meeting of Shareholders (the "Meeting"), held in Vancouver, British Columbia on December 18th, 2020. The total number of shares represented by shareholders present in person and by proxy at the meeting was 17.6 Million, 27.94% of Rio's issued and outstanding Common Shares.

All matters put forward before shareholders for consideration and approval as set out in the Company's Management Information Circular dated 13th of November 2020, were approved by the requisite majority of votes cast at the Meeting. The details of the voting results for the election of directors are set out below: The shareholders also approved: (i) fixing of the number of directors of the Company at four; (ii) appointing MNP LLP, Chartered Accountants, as the Company's auditor for the ensuing year and authorizing the directors to set the auditor's remuneration; and (iii) confirming and approving the Company's existing stock option plan.

The details of the voting results for the election of directors are set out below:

The Company will file a report of voting results on all resolutions voted on at the Meeting on www.sedar.com .

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 the 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: chris.verrico@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.