Esperanza Silver Corporation
TSX VENTURE : EPZ

Esperanza Silver Corporation

November 14, 2005 09:00 ET

Esperanza Silver Corporation: Phase II La Esperanza Drilling Begins

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2005) - Esperanza Silver Corporation (EPZ) (TSX VENTURE:EPZ) announces that drilling has begun on its La Esperanza gold project in Morelos, Mexico. La Esperanza is characterized as a bulk-tonnage gold prospect due to the presence of widespread gold in outcrop and previous drill holes. It is wholly controlled by EPZ.

The current drilling campaign constitutes the second phase of drilling by EPZ on the project. It continues from Phase I drilling completed in March of this year. At that time gold was encountered in all eight drill holes completed in the "West" zone. These results included drill intercepts of 36 meters containing 2.3 grams of gold per tonne and 21 meters containing 1.9 grams of gold per tonne. Preliminary metallurgical tests have indicated that ore-grade material is very amenable to conventional processing with recovery up to 96 percent in "bottle-roll" tests.

Additional geochemical sampling, completed during the summer has outlined the new "Southeast zone". This zone is notable for the presence of altered rocks and widespread surface gold mineralization within an area of 1200 by 200 meters. Gold values as high as 12.1, 8.5 and 7.3 grams per tonne have been found. Wide areas of consistent gold mineralization have also been found in channel samples including separate intervals of 42 meters and 26 meters containing 1.0 grams of gold per tonne.(1)

A total of 3500 meters of core drilling is planned to test new targets in the Southeast zone as well as to extend the known mineralization in the West zone.

(1) 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 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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