Rio Silver

Investor Insight

Rio Silver is advancing a portfolio of high-grade silver-dominant assets in Central Peru, led by the Maria Norte and Santa Rita projects. Supported by a capital-light development strategy, royalty income and equity exposure through the Niñobamba option agreement and selling its 50 percent share in Palta Dorada, the company is focused on staged development, generating cash flow, exploration and technical programs in one of the world’s leading silver-producing regions.

Overview

Rio Silver (TSXV:RYO,OTC:RYOOD) is a Canadian resource company focused on acquiring and advancing high-grade silver-dominant assets in Peru. The company’s portfolio is anchored by the Maria Norte project and complemented by the Santa Rita silver-lead-zinc project, both located within prolific mining belts in Central Peru. Rio Silver’s strategy is centered on staged development, disciplined cash-flowing bulk sampling/exploration and capital-efficient execution.

Rio Silver’s projects are located in Peru, one of the world’s largest silver-producing countries and home to the world’s largest known silver reserves. The company operates within the Huachocolpa District and surrounding polymetallic mining regions with established road access, nearby power infrastructure, skilled labor and multiple operating present and past-producing mines i.e., SilverX and Endeavour Silver producing from adjacent properties.

Company Highlights

• High-grade silver portfolio: Advancing the Maria Norte and Santa Rita silver-lead-zinc projects in Central Peru.
• District-scale strategy: Focused on building a district-scale silver platform through disciplined exploration, extensive bulk sampling and staged development.
• Capital-light processing strategy: Both the Maria Norte and Santa Rita projects are located within easy trucking distance of multiple operating processing facilities, supporting a contract toll-milling model without the construction of a standalone mill.
• Santa Rita expansion project: Santa Rita is a 570-hectare silver-lead-zinc project located approximately 55 km from Maria Norte with more than 20 mapped vein and manto-style structures.
• Royalty and equity exposure: Holds a significant share position in Magma Silver, a 2 percent NSR royalty on the Niñobamba silver-gold project and an advance royalty stream with milestone payments in addition to a 3 percent Royalty, capped at US$ 2 million.
• Recent royalty revenue: Rio Silver received the first of five annual US$100,000 advance royalty payments from Magma Silver and holds 4 million Magma Silver shares under the Niñobamba option agreement. The agreement includes up to US$2 million in milestone payments and US$500,000 in advanced royalty payments over five years. In Addittion the Company receives US$250,000 in advanced royalty from Peruvian Metals with the first $50,000 annual payment received.
• Near-term development activities: The company secured community permission to commence planned site activities at Maria Norte, including access preparation, camp construction and technical field programs.
• Multiple near-term catalysts: Underground access preparation for an extensive bulk sampling campaign ramping up in Q4, 2026, ongoing geophysics, mapping, metallurgical testing, and a planned 2000-metre underground drill program once access is completed.
• Strong financial position: Reported C$4.1 million in cash as of March 31, 2025, with anticipated warrant income commencing Q3 2026 with $3 million well in the money warrants and minimal liabilities.
• Experienced management and technical team: Leadership and consultants bring extensive experience across exploration, underground mining, mine development and finance throughout Peru and the Americas.

Key Project

Maria Norte Silver Project

The Maria Norte project is Rio Silver’s flagship gold-silver-lead-zinc project located approximately 24 kilometres south-southwest of Huancavelica in Peru’s Huachocolpa District. The project consists of four mineral concessions held 100 percent through a wholly owned Peruvian subsidiary and benefits from road access, nearby power infrastructure and proximity to multiple operating processing facilities.

Maria Norte hosts historic underground workings and multiple mineralized vein systems with high-grade mineralization exposed at surface and underground. Verification sampling returned grades including 6.263 grams per ton gold and 991 grams per ton silver over 0.7 metres, as well as 1.679 grams per ton gold and 869 grams per ton silver over 0.5 metres, alongside lead and zinc mineralization. Surface grab samples also returned silver values exceeding 500 grams per ton silver.

The project is interpreted as a low-sulphuration polymetallic vein system with multiple mapped vein structures. According to the company presentation, mineralization remains open along strike and at depth, while structural complexity suggests potential for additional blind vein systems.

Rio Silver is advancing Maria Norte through a staged development strategy that includes geological mapping, channel sampling, underground access preparation, portal development, bulk sampling and a planned 1,500 metre underground drill program. The company intends to utilize nearby third-party processing facilities through a contract toll-milling model.

In early 2026, Rio Silver secured community authorization to commence planned site activities at Maria Norte, including access preparation, camp construction and technical field programs. The company also reported ongoing metallurgical optimization work and continued permitting activities related to underground access development.

Santa Rita Silver-Lead-Zinc Project

The Santa Rita project is a 570-hectare silver-lead-zinc property located in Central Peru approximately 55 kmfrom Rio Silver’s Maria Norte project. The project was acquired through a clean transaction granting Rio Silver 100 percent ownership with no royalties or option obligations. Santa Rita is located within a productive polymetallic mining corridor and approximately 14 km from Kuya Silver’s producing Bethania Mine.

The project hosts carbonate-replacement and vein-style mineralization with more than 20 mapped steeply dipping and horizontal manto-style vein structures. Historical rock-chip sampling returned values of up to 2,668 grams per ton silver, 5 percent zinc and 48.5 percent lead. According to the company presentation, these historical results have not yet been independently verified by Rio Silver.

Santa Rita benefits from road access from two directions, nearby power infrastructure and proximity to regional processing facilities. Rio Silver is conducting metallurgical testing, geological mapping and field evaluations as part of its 2026 work program. Planned activities also include target generation, follow-up sampling, tunnelling evaluation and underground drill planning.

Management Team

Chris Verrico - President, CEO and Director

Chris Verrico has more than 25 years of experience managing publicly traded junior mineral exploration and development companies, in addition to experience in contract mining, industrial work and construction management. He has previously served as CEO of Aguila American Gold, Lateegra Gold and West Hawk Development and has managed exploration projects throughout North and South America, including Peru.

Steve Brunelle – Executive Chairman and Director

Steve Brunelle is a graduate geologist from Queen’s University with more than 30 years of experience in mineral exploration and project management throughout the Americas. He previously served as an officer and director of Corner Bay Silver, which later merged with Pan American Silver.

Christopher Hopton – CFO and Director

Christopher Hopton is a Certified Professional Accountant with more than 23 years of experience in financial management, accounting policy and operations. He previously served as CFO of Central Resources and was involved in the restructuring of 360 Networks prior to its acquisition by Bell Canada.

Richard Mazur - Director

Richard Mazur is the co-founder and former managing director of RLG International, a consulting firm with operations in more than 30 countries. He has extensive international management and business development experience.

Jeff Reeder – Consulting Geologist

Jeff Reeder is a professional geologist with more than 30 years of exploration experience throughout the Americas. He was involved in identifying and advancing the Aguila copper-molybdenum and Pinaya copper-gold projects in Peru.

Eric H. Hinton – Consulting Engineer

Eric H. Hinton is a professional engineer and Fellow of the Canadian Institute of Mining, Metallurgy and Petroleum with expertise in underground mining operations. He is recognized as a Qualified Person in underground mining.

Jim McCrea – Advisor

Jim McCrea specializes in geological modeling and mineral resource estimation and has contributed to mining transactions involving Agnico-Eagle Mines, Peñoles and Sumitomo.