Rio Silver Receives Conditional Approval for Acquisition of Mamaniña Exploraciones S.A.C.

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF), announces that it has completed a definitive agreement (the "Option Agreement") with Magma Silver Corp. (TSX.V: MGMA) ("Magma Silver") for the sale (the "Transaction") of the Niñobamba Au-Ag property ("Niñobamba" or the "Project").

Under the terms of the Option Agreement, Magma Silver has the right to earn a 100% interest in the Project upon full exercise of the option. The Option Agreement requires Magma Silver to make payments of an aggregate CAD$260,000, of which CAD$160,000 of that amount has been paid. Magma Silver will make further milestone payments of up to US$2,000,000, US$500,000 of which will constitute advanced royalty payments and will be paid over the next five years, deductible from the net smelter return royalty of 2% granted to Rio Silver. Magma Silver retains the right to buy back 1% of the NSR for US$1,000,000 at any time prior to commercial production on the Project. The Option Agreement also requires Magma Silver to issue to Rio Silver a total of 2,500,000 common shares of Magma Silver upon receipt of regulatory approval, and a further 2,500,000 common shares on the first anniversary of the approval date.

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF) announces that it has appointed Eric H. Hinton, P.Eng., FCIM, to the Advisory Board.

Eric H. Hinton, P.Eng., FCIM, has degrees from Haileybury School of Mines, Queen's University and Laurentian University and is a registered professional engineer in Ontario and Manitoba. Eric is a Fellow of the Canadian Institute of Mining, Metallurgy and Petroleum and is also designated as a Qualified Person in underground mining from the Mining and Metallurgical Society of America in addition to a qualified person for National Instrument 43-101. Eric's experience in small scale mining operations (from 50 to 500 tonnes per day) led him to acquire Basic Minerals SAC in Peru to launch the Mercedes Project which will become a 25000 tonne per annum polymetallic producer. His expertise will enable Rio Silver to engage in projects similar to Mercedes such as the recently acquired Maria Norte project, also in Peru, in order to potentially realize positive cashflow in the short term.

Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) (OTC: RYOOF) announces that it has signed a definitive agreement for the acquisition of the Minas Maria Norte (" Maria Norte " or the " Property ") high grade polymetallic silver, exploitation exploitation property, from Peruvian Metals Corp. ("Peruvian") (TSX-V PER) being subject to regulatory approval.

The Property is located in Southern Peru in the historic Huachocolpa Mining District, Municipality of Huancavelica. The Property has been held by Peruvian for the past 18 years adjacent to significant silver production with announced world class expansion plans. Previous exploration campaigns by Peruvian shows that the property hosts many polymetallic veins with significant gold credits. Located in the heart of the prolific Huachocolpa Silver District, environmentally friendly hydro power, good infrastructure, labor and logistical support is available.