Esperanza Silver Corporation
TSX VENTURE : EPZ

Esperanza Silver Corporation

May 15, 2006 08:00 ET

Esperanza Silver Corporation: Cerro Jumil Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2006) - Esperanza Silver Corp. (TSX VENTURE:EPZ) announces the results of two additional drill holes and provides an update of activities at its 100% owned Cerro Jumil project in Morelos, Mexico.

Drill hole DHE-06-31 intercepted two mineralized intervals of 7 and 18 meters containing 1.43 gpt Au and 1.78 gpt Au respectively. Drill hole DHE-06-30 had no significant intercepts. It was drilled to gather information on the main structural controls on mineralization.

Esperanza has drilled 31 holes in two programs since March 2005 for a total of 4,850 meters. Two mineralized zones have been identified to date; the West zone with a known length of 350 meters and the Southeast zone with a length of over 600 meters. The latter is emerging as the main ore zone. Both zones are open along their strike length and at depth. (i)



The most recent drill data is summarized below:

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Hole From To Interval Grade
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Length (grams
(meters) (meters) (meters) Au/tonne)
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DHE-06-30 No significant intercepts

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DHE-06-31 162.0 169.0 7.0 1.43
271.0 289.0 18.0 1.78
includes 277.0 289.0 12.0 2.10
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The Company has now temporarily suspended drilling operations to switch from a core to a reverse circulation rig. It will also use this break to conduct a number of additional activities including rock sampling, mapping, geophysical surveys and metallurgical testing. Upon resumption of drilling activities the goal will be to test extensions of the mineralization in both the West and Southwest zone and provide sufficient data for an initial resource estimate.

About Esperanza

Esperanza is an exploration company focused on precious metals and is founded on the experience and success of its management and field teams in discovering ore bodies. Its properties include the San Luis high-grade gold and silver discovery in central Peru and the 100%-owned Cerro Jumil bulk tonnage gold prospect in Morelos State, Mexico. It has other exploration interests in Peru, Mexico and Bolivia. The Company's objective is to take properties up to the resource definition stage and then find partners to take them into production.

(i) William Bond, M.Sc., Geol. and Vice President of Exploration, Esperanza Silver Corp. is the Qualified Person (QP) under NI 43-101 responsible for the La Esperanza exploration program. He has verified the data disclosed in this news release, including sampling, analytical and test data. Field work has been conducted under his supervision. All samples were submitted to ALS Chemex laboratories in Vancouver, Canada for analysis. Gold samples were analyzed by fire assay and atomic absorbtion spectroscopy with a 30 g nominal sample weight. A description of quality control and quality assurance protocols can be found at http://www.esperanzasilver.com/s/QA-QC-Protocols.asp.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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