Esperanza Silver Corporation

Esperanza Silver Corporation

July 18, 2007 11:56 ET

Esperanza Begins Cerro Jumil Heap-Leach Metallurgical Testing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2007) - Esperanza Silver Corporation (TSX VENTURE:EPZ)(PINK SHEETS:ESPZF) announces that it has begun metallurgical testing of gold-bearing material from its Cerro Jumil project in Morelos, Mexico. The testing is designed to determine the suitability of heap-leach processing for gold recovery at the project. Previous testing has indicated that the gold is amenable to conventional cyanide leach recovery which when coupled with the oxidized nature of the rock suggests the applicability of this gold-recovery method.

A 300 kilogram bulk sample has been shipped to the laboratories of SGS Mineral Services in Durango, Mexico. As heap-leach recovery is a lengthy process, testing is expected to take up to five months.

Column-Testing to Be Performed

Testing will consist of a series of assessments of the material followed by bottle-roll tests at four different crush sizes. The two crush sizes yielding the most favorable results will be used in the column tests that will simulate heap-leach conditions.

The two columns when constructed will be six feet tall and six inches in diameter. Each will carry a charge of approximately 50 kilograms of mineralized rock. Leaching of gold in the columns will be conducted over a two-month period. Regular assays of pregnant solutions will be made to determine the leach rates.

Preliminary Leaching Tests Yielded 96% Recovery

Previous testing of gold mineralization was also conducted by SGS Mineral Services in 2005 and 2006 when testing yielded up to 96% gold recovery. At that time, inspection of the mineralized rock indicated a high degree of oxidation. These recovery rates coupled with the oxidation lead to confidence in Cerro Jumil being a potential heap-leach operation. It is anticipated that heap-leach recovery rates will be lower than those achieved in the earlier study. This will be confirmed by the current testing.(1)

Resource Estimate Early 2008

Cerro Jumil is 100% owned by Esperanza. It would be developed as a bulk-tonnage gold project within a similar geologic environment to Goldcorp's nearby Los Filos gold mine.

Esperanza has completed approximately 12,500 meters of diamond core and reverse circulation drilling in the last two years. Two drill rigs are active on the project and another 12,000 meters of drilling are planned through the end of the year. An initial resource estimate is anticipated shortly thereafter.

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 four major 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 project 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.

(1) 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 Cerro Jumil 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.


Some statements in this release are forward-looking in nature. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Such statements include statements as to the potential of the Cerro Jumil property, the ability to finance further exploration, to permit drilling and other exploration work, and the availability of drill rigs.

The forward-looking statements involve risks and uncertainties and other factors that could cause actual results to differ materially, including those relating to exploration and bringing properties into production. Please refer to a discussion of some of these and other risk factors in Esperanza's Form 20-F filed with the US Securities and Exchange Commission. The forward-looking statements contained in this document constitute managements' current estimates as of the date of this release with respect to the matters covered herein. Esperanza expects that these forward-looking statements will change as new information is received and that actual results will vary, possibly in material ways. While Esperanza may elect to update these forward-looking statements at any time, the company does not undertake to do so.

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

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