Rio Grande Resources closes $2.55 million private placement

Rio Grande Resources Announces Closing of Over-Subscribed Non-Brokered Private Placement for $2.55 Million

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / August 24, 2026 / Rio Grande Resources Ltd. (CSE:RGR)(OTCQB:RGRLF)(FSE:488) ("Rio Grande" or "RIO" the "Company"), is pleased to announce that, further to its news release dated August 7, 2026; it has closed its previously announced non-brokered private placement for gross aggregate proceeds of $2,546,500 (the "Private Placement") through the issuance of 12,732,500 units of the Company (each, a "Unit") at a price of $0.20 per Unit.

Each Unit consisted of one common share (each, a "Share") and one transferable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.40 per Share for a period of (2) two years from the date of issuance.

The net proceeds will be allocated towards exploration activities and for general corporate purposes. Fees of $141,510 were paid and 707,550 finder's warrants issued (the "Finder's Warrants") to certain finders in connection with the Private Placement. Each Finder's Warrant is exercisable into one Share for a period of (2) two years after the date of issuance at an exercise price of $0.34.

In accordance with the regulations of the Canadian Securities Exchange ("CSE"), all securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day as required under applicable securities legislation.

The securities offered under the Private Placement have not been, nor will they be, registered under the U.S. Securities Act, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such officer, solicitation or sale would be unlawful.

About Rio Grande Resources

Rio Grande Resources (CSE: RGR) (OTCQB: RGRLF) (FSE: 488) is a burgeoning mineral exploration company focused on unlocking the high-grade gold and silver potential within its 3,000-acre drill-ready property in the Black Range of Sierra County, New Mexico. The company holds 100% interest in the Winston project group, which includes the 2 patented historic Ivanhoe & Emporia Claims, and Little Granite mines, all known for their past production of high-grade precious metals. Rio Grande Resources is led by a team of experienced professionals with expertise in mineral exploration and development, who are targeting large-scale precious metal discoveries within the property's well-documented low-sulfidation epithermal setting.

View the original on ACCESS Newswire