Announcement • Apr 08

Rio Silver Inc. Reports Initial Metallurgical Results for Maria Norte Silver-Gold-Lead Property

Rio Silver Inc. provided an update on the progress made by the Company regarding its ongoing metallurgical work on the Maria Norte silver-gold-lead property. The most recent metallurgical results indicate that high silver and gold recoveries are achievable. The Maria Norte silver-gold-lead property is located in the historic Huachocolpa Mining District in central Peru and covers an area of approximately 388 hectares. The Property is accessible by road and is adjacent to Silver X’s Tangana mining unit currently in production. Permitting is in progress and documentation has been submitted. Bulk sampling extraction is permitted while awaiting final approval for the environmental permit (IGAC) from the Peruvian government. Initial metallurgical results have confirmed the high recoveries of silver and gold at Maria Norte. The zinc content is determined to be insignificant compared with the silver-gold-lead. Metallurgical work and future processing focused on the recoveries of silver-gold-lead and therefore, the Company will design its processing methods to produce two concentrates consisting of a silver-gold-lead concentrate and a lower grade gold-silver-pyrite concentrate with minor amounts of lead. More importantly concentrates are expected to contain low amounts of arsenic. A large composite sample over several tens of metres was recently taken from one of the surface showings exposing a quartz-lead (“Qtz-Pb”) sulphide vein with widths varying between 0.3 to 1.0 metre in width. The head grade of the composite sample returned 3.00 grams per metric tonne gold and 4.32 ounces per metric tonne silver, 4.05% lead and 1.61% lead oxide. Metallurgical results using flotation methods produced two concentrates. The first concentrate returned a mineral to concentrate ratio of 25 to 1, assaying 14.57 grams per metric tonne gold, 53.64 ounces per metric tonne silver, and 54.17% lead. The second concentrate showed a mineral to concentrate ratio of 6.2 to 1 assaying 10.16 grams per metric tonne gold, 9.67 ounces per metric tonne silver and 13.85% lead. Both concentrates returned low arsenic levels returning 0.33% and 0.36% respectfully. Jeffrey Reeder P.Geo, a qualified person as defined in NI 43-101, has prepared, supervised the preparation or approved of the scientific and technical disclosure contained in this news release. The metallurgical work was performed by Jose Orlando Moncada Rejas, Ing, who is the metallurgist responsible for the work performed. Assaying of the material was performed by Procesmin Ingenieros SRL, located in Caraz Ancash, by fire assay for gold-silver.

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