Rio Silver completes site visit to Maria Norte

Executive Summary

• Rio Silver Inc. provided a corporate update confirming operational readiness and strategic progress at its Maria Norte Au-Ag-Pb-Zn project in Peru, following a detailed site visit by management and technical teams.
• The company highlighted significant financial assets, including $150,000 USD annual royalty payments, milestone payments exceeding $2 million USD from the Ninobamba project sale to Magma Silver, and equity holdings in Magma Silver valued at approximately $1 million USD based on recent trading.
• Rio Silver announced a new public relations and communications partnership with Caram Media Inc. for a six-month term to support market communication and investor engagement.

Key Details

• Maria Norte Project Status:
  • Management (President Chris Verrico, Project Manager Miller Fernandez, Logistics Manager Jose Pena, Consultant Edgar Leon) completed a site visit confirming the scope, sequencing, and logistical requirements for development.
  • Development program is ready to launch immediately upon regulatory approval of the pending acquisition.
  • Infrastructure preparations are underway for high-altitude camp construction, laydown areas, portal access upgrades, and drift/tunnel advancement along known mineralized structures.
  • Permitting for explosives and final stakeholder access agreements are advancing positively.
  • Company is leveraging Peru’s exploration/exploitation framework to generate minerals while establishing underground drill platforms for resource definition.
• Financial Position and Royalties:
  • Receives approximately $150,000 USD per year in advanced royalty payments.
  • Sale of Ninobamba project to Magma Silver Corp. provides milestone payments exceeding $2 million USD.
  • Equity interest in Magma Silver: 2.5 million common shares plus a further 2.5 million shares on the first anniversary of approval.
  • Magma Silver share price reference: 20 cents per share as of market close on Nov. 24, 2025 (implying equity value of ~$1 million USD for the initial tranche).
  • Retains a 2% Net Smelter Return (NSR) royalty on Ninobamba and a 3% capped NSR royalty from former Palta Dorada interests.
• Ontario Asset Update:
  • Maintains ownership of a critical metals project in Ontario’s Ring of Fire.
  • 2012 Fugro airborne EM survey identified one of the strongest electromagnetic anomalies ever recorded by the firm.
  • Historical INCO drilling in the 1970s intersected encouraging geology; company is currently engaging with local First Nations communities.
• Strategic Vision:
  • Evaluating additional district-scale silver-dominant targets within trucking distance of Maria Norte for accretive growth.
  • Strategy focuses on high-grade, high-margin silver mineralization, rapid development models, proximity to established processing facilities, and a tight shareholder base.
• Caram Media Partnership:
  • Retained Caram Media Inc. for an initial six-month term under an agreement dated Nov. 14, 2025.
  • Compensation: $100,000 CAD (plus GST) for first and last month paid in advance, followed by monthly payments of $50,000 CAD (plus GST).
  • Additional discretionary compensation may be considered.
  • Termination clause: 30 days written notice by either party.

Notable Quotes

• "Rio Silver is laying the foundation for what we believe can become one of Peru's next high-grade silver operations... Our recent technical review confirmed the strength of the mineralized structures at Maria Norte and validated our plan to advance a rapid, efficient development model." — Mr. Chris Verrico, President
• "We're excited to partner with Rio Silver as they advance one of the most compelling emerging silver stories in Peru. Our team looks forward to helping bring this remarkable opportunity to the broader market with clarity, precision and the strategic focus it deserves." — Galen Carson, President, Caram Media