Esperanza Silver Corporation

Esperanza Silver Corporation

March 29, 2005 17:02 ET

Esperanza Silver and Silver Standard Announce Peruvian Prospecting Joint Venture


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ESPERANZA SILVER CORPORATION

TSX VENTURE SYMBOL: EPZ

MARCH 29, 2005 - 17:02 ET

Esperanza Silver and Silver Standard Announce Peruvian
Prospecting Joint Venture

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2005) - Esperanza
Silver Corp. (TSX VENTURE:EPZ) and Silver Standard Resources Inc.
announce the formation of a joint-venture to prospect for new bulk
mineable silver deposits in central Peru.

Under the terms of the agreement Silver Standard will contribute
US$300,000 and Esperanza will contribute US$200,000 during the first two
years of the venture. These funds will be used for the identification
and acquisition of new prospects. This phase will be managed by
Esperanza. Upon acquisition of any prospect the Companies will have an
equal (50/50) interest. Silver Standard will have the right to increase
its ownership to 55 percent by spending the next US$500,000. Silver
Standard will also have the right to finance any prospect to production
allowing it to increase its interest to 80 percent.

Esperanza has been actively prospecting in Peru for over three years and
has an established team of local geologists with extensive experience in
silver geology. It also has developed a comprehensive in-country
database using proprietary information acquired from a variety of
sources together with publicly available data. This has already led to
several attractive prospects for the Companies to examine.

Peru is consistently the number one or two silver producer worldwide and
an essential place to focus prospecting efforts. Peruvian silver
producers have historically focused on classic vein or high-grade type
systems. Esperanza and Silver Standard hope to replicate the success
encountered in Mexico and other countries by using modern prospecting
technology to identify new areas with bulk-tonnage potential.

Esperanza Silver is dedicated to the exploration and discovery of new
silver projects in the Americas. It currently is active in Mexico, Peru
and Bolivia. It uses a combination of advanced exploration technology
and basic geologic prospecting techniques to add value to its prospects.
The Company will then seek joint-venture partners to advance the
projects toward production.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Esperanza Silver Corporation
    William Pincus
    (303) 830-0988
    (303) 830-9098 (FAX)
    wpincus@esperanzasilver.com
    www.esperanzasilver.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this news release.