Southern Rio Resources Ltd.
TSX VENTURE : SNZ

Southern Rio Resources Ltd.

October 24, 2005 18:13 ET

Southern Rio Resources Ltd.: Corporate Developments

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 24, 2005) - Southern Rio Resources Ltd. (TSX VENTURE:SNZ) (the "Company") announces that an Extraordinary and Special General Meeting will be held on November 30, 2005 at which the Company will seek shareholder approval for a share consolidation on the basis of one new share for each five current shares held by shareholders of record as at October 26, 2005. In conjunction with the share consolidation, the Company is proposing to change its name to Silver Quest Resources Ltd.

The Company also wishes to announce the appointment of Mr. Robert F. Weicker P.Geo. to the Company's Board of Directors. Mr. Weicker is a consulting geologist with 30 years exploration and mining experience and is familiar with the Company's current exploration activities, having been one its principal technical consultants for the last four years.

The Company also wishes to announce that it is proposing to amend the expiry date of 2,755,000 and 1,625,000 outstanding warrants (the "Warrants") (35,000 of which are held by insiders) from December 20, 2005 to December 20, 2006, subject to TSX Venture Exchange approval. The Warrants will remain exercisable into common shares at a price of $0.15 and $0.20 respectively.

SOUTHERN RIO RESOURCES LTD.

Lindsay R. Bottomer, President


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