Rio Silver has community OK for Maria Norte site work

Executive Summary

• Rio Silver Inc. has secured initial permission from the local community to commence site activities at its Maria Norte project in Peru, allowing for the establishment of necessary infrastructure.
• The company plans to mobilize personnel to begin access preparation, portal construction, camp building, and systematic surface mapping and technical field programs.
• The previously announced metallurgical program to optimize silver recoveries remains active, with a comprehensive market update expected upon receipt of results.

Key Details

• Community Agreement: Initial agreement reached with local residents and community leadership in Huachocolpa to begin exploration and development activities.
• Future Legal Framework: Rio Silver intends to enter into a formal definitive agreement for long-term use of the area for exploration and mining activities, with a target date of 2026.
• Immediate Site Activities:
  • Mobilize personnel for planned site activities.
  • Advance access and portal preparation work, including camp construction.
  • Advance mineral process optimization (metallurgical) programs.
  • Conduct systematic surface mapping and technical field programs.
• Metallurgical Program:
  • Focuses on validating processing assumptions and refining the proposed flowsheet design.
  • Aims to de-risk processing and optimize silver recoveries.
  • A comprehensive update will be provided to the market upon receipt and review of the results.
• Regulatory Context: Formal authorization is expected to follow from a duly convened assembly to provide further clarity and alignment.

Notable Quotes

• "We are extremely grateful for the active and thoughtful participation demonstrated by the surrounding community... The response from our host neighbours reflects strong leadership, solid intentions and a shared commitment to ensuring development proceeds in a manner that benefits all stakeholders." — Chris Verrico, President and CEO
• "With this initial step achieved, we are excited to continue working with all stakeholders to enter into a definitive agreement in 2026. The future for the project and for our partnership with the community is truly exciting." — Chris Verrico, President and CEO