Rio Grande Increases Financing

Rio Grande Mining Corp.

Suite 1128, 789 West Pender Street Vancouver, BC, V6C 1H5 Tel: (604) 669-9330 Fax: (604) 669-9335

FOR IMMEDIATE RELEASE June 26, 2012

RIO GRANDE INCREASES FINANCING

Vancouver, BC, June 26, 2012: Rio Grande Mining Corp. (RGV - TSX-V) (the “Company”) announces that further to its news release of June 6, 2012, it has increased its private placement, subject to TSX Venture Exchange acceptance, to 10,000,000 units at $0.10 per unit for total gross proceeds of $1,000,000. All other terms of the placement remain the same.

On behalf of the Board of Directors,

John Bevilacqua President & CEO Rio Grande Mining Corp.

(604) 669-9330

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.