Rio Silver. provided an update regarding the exploration and development of the Palta Dorada Au-Ag-Cu project in Northern Peru. Recent sampling from the main structure returned very good results including one sample of 1090 g/t Au and 643 g/t over 0.40 metres. Current development is focused on the Main Structure now called the The San Juan Vein exposed both in underground workings and outcrops over an 800-metre strike length. High grade mineralization occurs in quartz veins hosted in granodioritic rocks. The initial work consists of the development of the main access tunnel located 876 metres above sea level. This main access drift (876 m level) is currently at 70 metres and in oxides and is projected to be in the higher-grade sulphide material soon. Mineralized oxide material extracted from the tunnel is being stockpiled for future sale. Samples taken from the stockpiles averaged 5.05 g/t Au and 60.33 g/t Ag. Artisanal workings expose portions of the San Juan vein including a 53-metre deep shaft where seven chip samples were taken at various depths from a quartz vein containing sulphides. Previously reported assay results from these samples range from 3.06 g/t Au to 24.1 g/t Au, 36 g/t Ag to 865 g/t Ag and 0.31% Cu to 4.94% Cu over an average width of 0.60 meters. The weighted average of the assay results is 10.51 g/t Au, 329 g/t Ag and 1.74% Cu. Four recent samples taken from quartz veins in the oxide zone above and near the shaft returned values between 11.20 and 1090 g/t Au and 21 and 642 g/t Ag averaging a width of 0.43 metres. Sample PD-09 which assayed 1090 g/t Au or 35.68 oz/t Au and 20.35 oz/t Ag is noted to have coarse gold. Samples were taken between the 930 to 935 m levels. Two samples taken from the San Juan vein (931 m level) located between the main access tunnel and the shaft averaged 11.25 g/t Au and 3.01 oz/t Ag. Approximately 90 metres of advancement on the main access level is required to reach the downdip projection of these veins. The company continues to advance the underground development towards obtaining a bulk sample of the high-grade Au-Ag-Cu material. The main drift is expected to intersect sulphide mineral soon. The extracted mineral from the property will be processed at the Company's 80% owned fully permitted Aguila Norte processing plant located in Northern Peru. The oxide gold material extracted from the workings will be sold to a CIL/CIP plant once sufficient material has been accumulated.