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RIO GRANDE <br />SILVER, INC. <br />June 11, 2015 <br />ANNUAL EXPLORATION & RECLAIMATION REPORT <br />June 25, 2014 — June 25, 2015 <br />Prospect NOI No.: <br />Prospect Site Name: <br />Operator/Prospector: <br />EXPLORATION <br />P-2010-015 <br />West Equity Project <br />Randy McClure <br />Rio Grande Silver, Inc. <br />625 USFS Road 504.1A <br />P.O. Box 610 <br />Creede, Colorado 81130 <br />Tel. (719) 658-1080 <br />No exploration work was conducted on the West Equity Project NOI between June 25, 2014 and <br />June 25, 2015. <br />Please see attached figures: <br />• Figure 1 — West Equity Project, P-2010-015 Location Map <br />• Figure 2 — Drill Pad Location Map <br />Figure 3 — Completed Drill Holes Map <br />RECLAMATION <br />Between June 25, 2014 and June 25, 2015, no reclamation work was completed on the West <br />Equity Project NOI. <br />625 USFS Road 504.1A P.O. Box 610 Creede, CO 81130 <br />719-658-1080 Fax 719-658-1082 <br />