Esperanza Silver Corporation

Esperanza Silver Corporation

March 23, 2005 13:38 ET

Esperanza Silver Corporation Announces Gold/Silver in Four More Drill Holes at its La Esperanza Project, Mexico


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ESPERANZA SILVER CORPORATION

TSX VENTURE SYMBOL: EPZ

MARCH 23, 2005 - 13:38 ET

Esperanza Silver Corporation Announces Gold/Silver in
Four More Drill Holes at its La Esperanza Project,
Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2005) - Esperanza
Silver Corporation (TSX VENTURE:EPZ) -

Geochemical analyses from four new drill holes continue to define
notable zones of both gold and silver mineralization at the La Esperanza
project in Morelos, Mexico. Results from drilling are now identifying
the extent and continuity of gold/silver mineralization along the
contact of a granitic intrusive rock with limestone. Surface exposures
of altered rock that is related to the gold/silver mineralization can be
traced intermittently along this contact for over 800 meters (2,600
feet). Only a portion of these outcrops have been tested in the
subsurface by drilling.

Results from the four new drill holes are summarized below (i):



--------------------------------------------------------------------
Hole From To Interval Interval Silver Silver Gold Gold
No. (meters) (meters) (meters) (feet) (ppm) (opt) (ppm) (opt)
--------------------------------------------------------------------
DDH-03 45.85 61.35 15.50 50.9 33.83 0.987
--------------------------------------------------------------------
DDH-03 63.50 71.50 8.00 26.3 2.68 0.078
--------------------------------------------------------------------
DDH-04 94.60 101.50 6.90 22.6 1.28 0.037
--------------------------------------------------------------------
DDH-05 74.10 88.25 14.15 46.4 84.64 2.47
--------------------------------------------------------------------
DDH-05 99.70 120.20 20.50 67.3 1.91 0.056
--------------------------------------------------------------------
includes 99.70 110.00 10.30 33.8 2.69 0.078
--------------------------------------------------------------------
DDH-06 85.00 91.00 6.00 19.7 30.85 0.900
--------------------------------------------------------------------


DDH-06 was abandoned at 112 meters due to difficult drilling conditions
and consequently did not reach the target area of gold mineralization.
Analyses from the first two drill holes (DDH-01 and DDH-02) have
previously been announced (News Release March 7, 2005).

Holes DDH-03 and DDH-04 are located approximately 100 meters northeast
of DDH-01 which had intercepted 36.3 meters of 2.26 grams of gold per
tonne. The gold analyses show good continuity along strike and down dip
along the target zone. Holes DDH-01 and 03 intercepted the gold
mineralization from 70 to 100 meters down dip from the surface outcrop.
Holes DDH-04 and 05 intersected the same zone an additional 50 to 70
meters below holes 01 and 03 respectively. These holes indicate that the
gold zone extends a minimum of 100 meters along strike and to a depth of
at least 150 meters (down dip from the outcrops). The gold
mineralization remains open along strike and at depth.

"We are just now getting a feel for the dimensions of this potential
target," said Bill Pincus, Esperanza's President and CEO. "Much
additional work remains. We are still waiting for the results of the
last two drill holes as well as initial metallurgical investigation
(bottle-roll tests). The apparent continuity of the gold and silver
zones as we now know them is very encouraging. We look forward to
further advancing this property," he added.

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.

(i) William Bond, M.Sc., P.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 by Esperanza personnel
under his supervision. All samples were submitted to ALS Chemex
laboratories in Vancouver, Canada for analysis. Samples were analyzed by
ICP analysis and in some cases atomic absorption analysis.


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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.