Rio Verde Minerals Issues Statement

Rio Verde Minerals Issues Statement 
TORONTO, ONTARIO -- (Marketwire) -- 12/03/12 -- Rio Verde Minerals
Development Corp. (TSX:RVD) ("Rio Verde" or the "Company") announced
today that it has received a non-binding proposal to acquire the
Company from B&A Mineracao S.A. ("B&A") and that it is in
negotiations with B&A regarding the potential acquisition of the
Rio Verde has formed a special committee and has engaged financial
and legal advisors to provide support with the process. 
Rio Verde cautions that there can be no assurances that an agreement
will result or that a transaction will occur and that if one does
occur there can be no assurances at what price it will be completed.
The Company does not intend to comment further upon any potential
corporate transaction unless a definitive agreement is reached with
any third party or unless otherwise required by law. 
About Rio Verde 
Rio Verde Minerals Development Corp. is a publicly traded company
focused on the exploration and development of fertilizer projects in
Brazil. The Company's goal is to become the leading Brazilian
fertilizer mining and development company by selecting prime assets
that are near infrastructure, with known mineralization, in regions
without significant social or environmental issues. The Company plans
to fast-track the best projects to development to create stakeholder
Rio Verde holds one potash project and a portfolio of phosphate
projects in Brazil. Potash and phosphate fertilizers have favourable
supply and demand dynamics, and Rio Verde has a significant cost
advantage by being based in Brazil, a country that imports about 90%
of its potash and 50% of its phosphate needs. Rio Verde's near-term
primary objective is to focus its potash exploration on establishing
a Canadian National Instrument 43-101 resource. 
Forward-Looking Statements 
This press release contains forward-looking statements. All
statements, other than of historical fact, that address activities,
events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without
limitation, statements regarding potential corporate transactions,
the estimation of mineral resources, exploration results, potential
mineralization, potential mineral resources and mineral rese
rves) are
forward-looking statements. Forward-looking statements are often
identifiable by the use of words such as "anticipate", "believe",
"plan", may", "could", "would", "might" or "will", "estimates",
"expect", "intend", "budget", "scheduled", "forecasts" and similar
expressions or variations (including negative variations) of such
words and phrases. Forward-looking statements are subject to a number
of risks and uncertainties, many of which differ materially from
those discussed in the forward-looking statements. Factors that could
cause actual results or events to differ materially from current
expectations include, among other things, without limitation, failure
to establish estimated mineral resources, the possibility that future
exploration results will not be consistent with the Company's
expectations, the price of potash and phosphate, changes to
regulations affecting the Company's activities, including tax and
trade laws and policies; delays in obtaining or failures to obtain
required regulatory permits and approvals from government
authorities; delays in commencing the Company's proposed drilling
program, exploration costs varying significantly from estimates;
uncertainties relating to the availability and costs of financing
needed to complete exploration activities and demonstrate the
feasibility of the Company's projects; the success of future
exploration and development initiatives; and other risks involved in
the mineral exploration and development industry. Any forward-looking
statement speaks only as of the date on which it is made and, except
as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking
Rio Verde Minerals Development Corp.
Stephen Keith
President and CEO
+1 (416) 368-8288 
Rio Verde Minerals Development Corp.
Alex Penha
VP Corporate Development
+1 (416) 368-1573
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