US$100,000 Advanced Royalty Payment Received; 2.5 Million Additional Magma Shares to Be Issued April 15, 2026

Rio Silver Inc. (TSX-V: RYO) (OTC: RYOOF) is pleased to announce that it has received the first US$100,000 advanced royalty payment from Magma Silver Corp. pursuant to the previously announced option agreement on its Niñobamba gold-silver property in Peru.

Under the terms of the option agreement, Magma Silver has the right to earn a 100% interest in the Niñobamba project upon full exercise of the option. The agreement provides for total payments of $260,000, which have been received, and additional milestone payments of up to US$2,000,000, including US$500,000 in advanced royalty payments to be paid over the next five years. The initial US$100,000 payment received will be credited against a 2% net smelter return (“NSR”) royalty retained by Rio Silver.

Magma Silver retains the ri ght to repurchase 1% of the NSR for US$1,000,000 at any time prior to commercial production.

In addition, Rio Silver confirms that it has previously received 2,500,000 common shares of Magma Silver Corp., and will receive a further 2,500,000 common shares on April 15, 2026, pursuant to the terms of the agreement.

Management Commentary:

“This is an important milestone for Rio Silver as we begin to realize value from our royalty portfolio,” said Chris Verrico, President and Chief Executive Officer of Rio Silver. “The receipt of advanced royalty payments and the upcoming additional share issuance from Magma Silver reinforces the strength of our broader asset base and provides meaningful non-dilutive exposure as we continue advancing Maria Norte.”

“Our focus remains on disciplined execution at Maria Norte, while maintaining strategic exposure to additional upside through royalties and equity positions that can generate value without shareholder dilution.”

Why This Matters to Investors

This milestone demonstrates that Rio Silver is not solely an exploration or development-stage company, but one that is actively generating revenue through its royalty interests. The receipt of advanced royalty payments provides immediate non-dilutive capital, while the retained 2% NSR royalty and equity position in Magma Silver offer ongoing exposure to future production and asset appreciation.

The upcoming issuance of an additional 2.5 million shares in Magma Silver further strengthens Rio Silver’s balance sheet and provides continued leverage to exploration success and development progress at Niñobamba. Together, these elements enhance financial flexibility and support the Company’s capital-efficient approach to advancing its core silver-dominant assets.

Additional Corporate Update

The Company also announces that it has granted an aggregate of 1,620,000 stock options pursuant to its stock option plan. The options are exercisable at a price of $0.43 per common share.

• 800,000 options have been granted to directors and officers of the Company, expiring on March 31, 2031
  • 820,000 options have been granted to consultants of the Company, expiring on March 31, 2028

The options vest in accordance with the Company’s stock option plan and are subject to acceptance by the TSX Venture Exchange.

About Rio Silver Inc.

Rio Silver Inc. is a Canadian resource company advancing high-grade, silver-dominant assets in Peru, the world’s second-largest silver producer. The Company is focused on near-term development opportunities within proven mineral belts and is supported by a seasoned technical and operational team with deep experience in Peruvian geology, underground mining, and district-scale exploration. With a clear development strategy and a growing portfolio of highly prospective silver assets, Rio Silver is establishing the foundation to become one of Peru’s next emerging silver producers.