Esperanza Resources Corp.

Esperanza Resources Corp.

April 30, 2012 07:00 ET

Esperanza Reports Cerro Jumil Drill Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2012) - Esperanza Resources Corp. (TSX VENTURE:EPZ)(PINKSHEETS:ESPZF) is pleased to report its most recent drill results at its Cerro Jumil gold project in Morelos, Mexico. The current drill holes are in-fill and have increased confidence in the resource by upgrading previously reported inferred and indicated resources. Highlights of the drill results are:

  • Drill Hole DHE-12-74 intersected 25.5 meters containing 1.65 grams of gold per tonne.
  • Drill Hole DHE-12-77 intersected two separate intervals with 31.5 meters containing 2.8 grams gold per tonne and another interval of 39.0 meters containing 0.7 grams gold per tonne.
  • Drill Hole DHE-12-81 intersected 45.0 meters containing 1.9 grams of gold per tonne.
  • Drill Hole DHE-12-90 intersected two separate intervals with 27.0 meters containing 1.1 grams of gold per tonne and another interval with 121.5 meters containing 1.1 grams gold per tonne.

Complete results are in the accompanying table and drill hole locations are shown on the accompanying map (to view click on: A detailed drill hole plan map can be found on the Company's website (to view click on:

Current activities at the Cerro Jumil project include on-going drilling, geotechnical field investigation including site analysis for proposed infrastructure and leach pad areas and oriented core drilling to establish pit wall stability.

Metallurgical Sampling Shipped

Esperanza, together with its metallurgical consultants Lyntek Inc. and McClelland Labs Inc. has designed a feasibility-level test program. The Company has now shipped approximately 75 tonnes of metallurgical samples which includes bulk-sampling from five surface locations, large diameter core from various locations and depths of the deposit and numerous reverse-circulation drill cuttings for bottle-roll testing. In addition to the bottle-roll tests the Company will build columns from at least five bulk-surface samples and six large-diameter core samples. All samples have been shipped to McClelland laboratories in Sparks, Nevada for testing. The Company does not anticipate final test results until late in the third quarter.

About Esperanza

Esperanza is focused on advancing the development of its principal property, the wholly-owned Cerro Jumil gold project in Morelos State, Mexico. It is also actively investigating 11 other exploration interests in Peru and Mexico. In October of 2010 it announced a strategic investment which resulted in a 27% interest in Global Minerals Ltd. (TSX VENTURE:CTG), owner of the Strieborná silver/copper project in Roznava, Slovakia.

QUALIFIED PERSON: William Bond, CPG and Vice-President, Esperanza Resources is the Qualified Person (QP) under NI 43-101 responsible for the Cerro Jumil exploration program. He has verified the drill results and other 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 for analysis in Vancouver, Canada. Gold samples were analyzed by fire assay and atomic absorption spectroscopy with a 30 g nominal sample weight. Silver is analyzed by induction coupled plasma - atomic emission spectroscopy (ICP-AES). A description of quality control and quality assurance protocols can be found at

SAFE HARBOUR: Some statements in this release are forward-looking in nature. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbour" for certain forward-looking statements. Such statements include statements as to the potential of the Cerro Jumil property, the ability to finance further exploration, 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 U.S. Securities and Exchange Commission. The forward-looking statements contained in this document constitute management's 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. Forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and the company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change. For these reasons, investors should not place undue reliance on forward-looking statements.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

Cerro Jumil Drill Results
April 30, 2012
Drill Hole From
(grams gold/tonne)
DHE-12-75 85.5 109.5 24.0 0.99
DHE-12-75 123.0 165.0 42.0 1.05
DHE-12-76 126.0 130.5 4.5 0.72
DHE-12-77 33.0 64.5 31.5 2.83
DHE-12-77 73.5 115.5 39.0 0.72
DHE-12-78 43.5 61.5 18.0 2.18
DHE-12-78 73.5 94.5 21.0 1.01
DHE-12-79 165.0 184.5 19.5 0.59
DHE-12-79 279.0 289.5 10.5 1.44
DHE-12-79 327.0 339.6 12.6 0.70
DHE-12-80 19.5 45.0 25.5 0.86
DHE-12-81 93.0 138.0 45.0 1.94
includes 97.5 111.0 13.5 3.34
DHE-12-82 12.0 69.0 57.0 0.43
DHE-12-82 79.5 94.5 15.0 0.55
DHE-12-83 75.0 94.5 19.5 0.90
includes 85.5 94.5 9.0 1.59
DHE-12-84 174.0 183.0 9.0 1.05
DHE-12-84 217.5 223.5 6.0 1.64
DHE-12-85 Results Pending
DHE-12-86 Results Pending
DHE-12-87 54.0 60.0 6.0 0.64
DHE-12-88 15.0 91.5 76.5 0.53
DHE-12-89 111.0 144.0 33.0 0.82
DHE-12-90 18.0 45.0 27.0 1.09
includes 19.5 31.5 12.0 1.93
DHE-12-90 99.0 220.5 121.5 1.05
DHE-12-91 130.5 162.0 31.5 0.30
DHE-12-92 10.5 81.0 70.5 0.62
DHE-12-92 102.0 126.0 24.0 0.62
DHE-12-93 No significant intervals
DHE-12-94 43.5 61.5 18.0 0.33
DHE-12-94 69.0 91.5 22.5 0.87
DHE-12-95 111.0 133.5 22.5 0.65
RCHE-11-238 141.0 156.0 15.0 0.36
RCHE-11-239 No significant intervals

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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