VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2012) - Rio Grande Mining Corp. (TSX VENTURE:RGV) ("RioGrande" or the "Company") is pleased to announce the appointment of Blair Way as Chief Operating Officer ("COO") of the Company effective immediately. Mr. Way is a seasoned management professional with over 25 years international experience spanning Australia, Asia, North America and the United Kingdom in mineral exploration, resource development and mine construction.

Mr. Way most recently served as the Vice-President Project Development for Ventana Gold Corp. ("Ventana") (formerly listed on the Toronto Stock Exchange) before its recent takeover by AUX Canada Acquisition Inc. for approximately $1.4 billion. In this capacity with Ventana, Mr. Way was responsible for building and overseeing the team that advanced Ventana's gold projects in Colombia. Prior to his position with Ventana, Mr. Way served as the President and the Project Director of OceanaGold (Philippines) Inc., a subsidiary of OceanaGold Corporation, overseeing the construction of the Didipio gold copper project in the Philippines.

As COO of the Company, Mr. Way's responsibilities are expected to include providing leadership and vision for the Company, acting as an advocate for the Company and its strategy to the investment and mining community, working with stakeholders to drive the Company's projects from the conceptualization stage to the feasibility study stage and to completion with the goal of maximizing shareholder value, reviewing and directing the development of new market opportunities for the Company through organic development and acquisitions, and conducting financial evaluations of the economics of the Company's projects.

Mr. Way holds a Bachelor of Science (Petroleum Geology) from Acadia University in Nova Scotia, Canada, as well as a Masters of Business Administration from the University of Queensland, Australia.

It is management's view that Mr. Way's skills, experience in precious metals resource development, and recent experience building and overseeing a team responsible for advancing a gold project in Colombia will benefit the Company and present an opportunity to help advance the existing potential for high grade gold mineralization at the La Maria Gold project, Colombia. The Company intends to complete the acquisition of all of the issued and outstanding securities of Tru Vision Corp. ("Tru Vision") which holds, through its wholly-owned subsidiaries, an option to acquire a 100% interest in El Porvenir Minero S.A.S., a private Colombian company that owns the La Maria Gold project. The acquisition by the Company of all of the issued and outstanding shares of Tru Vision and of Tru Vision's interest in the La Maria Gold project is subject to approval of the TSX Venture Exchange.

On his appointment, Blair Way remarks, "I found Colombia to be a great country to work in. Having already had success there in the past couple of years has been great, and the experience I garnered will be invaluable to my duties with Rio Grande. I am looking forward to getting to work on the La Maria Gold project to unlock the potential this project may have for our shareholders."

About Rio Grande

Rio Grande Mining Corp. is a mineral exploration company listed on the TSX Venture Exchange and has an experienced management team committed to advancing the growth stage high grade La Maria Gold project which the Company intends to complete the acquisition of, subject to approval of the TSX Venture Exchange. The La Maria Gold project is located in the Department of Antioquia, Colombia, approximately 18 km south-southwest of the town of Segovia. Sampling of known veins on the La Maria Gold project has resulted in high grade results (see the Company's news releases dated September 29, 2011 and February 23, 2012 for particulars of the sampling, including tables summarizing sample results). Following completion of the acquisition of the La Maria Gold project, management intends to embark on a campaign to explore the property to determine the production potential of the property and, if warranted, develop the property.

Mr. James A. McCrea, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed this news release and approves all scientific and technical disclosure.

For further information on the Company and the La Maria Mine, please visit the Company's website at [ www.riograndemining.com ] or contact 1.866.669.9377.

On behalf of the Board of Directors,

Jerry Minni, President & CEO

Rio Grande Mining Corp.

Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations and include statements that: (i) Blair Way's responsibilities as COO of the Company will be as stated in this news release; (ii) Mr. Way's skills and experience will benefit the Company and present an opportunity to help advance the La Maria Gold project; (iii) the Company will complete the acquisition of Tru Vision and the La Maria Gold project; and (iv) the Company will pursue and complete future exploration and development of the La Maria Gold project. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that Mr. Way's responsibilities with the Company will be different than those stated in this news release or that Mr. Way will not fulfill his responsibilities, the risk that Mr. Way's skills and experience may not benefit the Company or assist with the advancement of the La Maria Gold project, the risk that the share exchange transaction with Tru Vision may not close for any reason whatsoever, the risk that future work on the La Maria Gold project may not be completed as stated or at all for any reason whatsoever, the risk that future work on the La Maria Gold project will not reproduce similar high grade values and widths as reported from previous campaigns, the risk that the TSX Venture Exchange may not approve the share exchange transaction with Tru Vision and the acquisition of the La Maria Gold project for any reason whatsoever, and the risk that advancement at the La Maria Gold project will not result in increased shareholder value. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) the inability of Mr. Way to fulfill his responsibilities as COO of the Company as proposed or at all; (ii) the inability of the Company and Tru Vision to complete the share exchange transaction, as proposed or at all; (iii) inability of the Company to complete future work on the La Maria Gold project in part or at all; (iv) a change in market conditions; and (v) the refusal of the TSX Venture Exchange to accept the proposed transaction with Tru Vision for any reason whatsoever. Except as required by law, the Company does not intend to update any changes to such statements.

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