Esperanza Silver Corporation
TSX VENTURE : EPZ

Esperanza Silver Corporation

August 04, 2005 10:55 ET

Esperanza Silver Corp.-New High-Grade Gold/Silver Discovery at San Luis, Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 4, 2005) - Esperanza Silver Corp. (TSX VENTURE:EPZ) is pleased to announce a new grass-roots, high-grade, precious metal discovery at its newly acquired San Luis Project in Ancash Department, Peru.

High-grade gold and silver have been found in channel samples cutting a quartz vein that outcrops for at least 1500 meters. Five samples, shown below, were cut in two-meter long channels. These were collected along the northern 350 meters of the quartz vein outcrop.



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Width Au Ag
Sample No. (meters) (grams/tonne) (grams/tonne)
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235839 2 4.7 142
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235840 2 16.9 922
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235841 2 45.2 1,054
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235842 2 78.2 1,865
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235843 2 13.2 171
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Esperanza will continue with surface mapping and systematic sampling to better define the extent of mineralization in the known vein as well as explore for vein extensions and other parallel structures.

The discovery is a result of prospecting activities conducted under a joint-venture with Silver Standard Resources Inc. As such the property is jointly owned by both companies. Silver Standard has the option of increasing its ownership to 55 percent by investing the next US$500,000. It is currently evaluating this option.

The property encompasses 1800 hectares and was acquired under direct concession. It is owned outright by the Esperanza/Silver Standard joint-venture with no underlying property holders.

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

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