Esperanza Silver Corporation
TSX VENTURE : EPZ
PINK SHEETS : ESPZF

Esperanza Silver Corporation

October 22, 2007 07:00 ET

Esperanza Updates Cerro Jumil Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2007) - Esperanza Silver Corporation (TSX VENTURE:EPZ)(PINK SHEETS:ESPZF) is pleased to present the following update of activities at its 100% owned Cerro Jumil gold project in Morelos, Mexico. Results from 9 new reverse circulation drill holes have been received. Highlights include:

- Drill hole RCHE-47 with 88.5 meters (290 feet) containing 2.20 grams Au per tonne (0.064 ounces Au per ton).

- Drill hole RCHE-48 with 118.5 meters (389 feet) containing 1.47 grams Au per tonne (0.043 ounces Au per ton).

- Drill hole RCHE-51 with 79.5 meters (261 feet) containing 1.89 grams Au per tonne (0.055 ounces Au per ton).

The new drill holes are located in the Southeast zone. Drill holes RCHE-43 to 48 show that one of the gold horizons tops out just below the surface. Future drilling down-dip of these holes is planned and could significantly add to the size of the mineral zone. Additional step-out drilling is also planned to examine the northern and eastern extent of the Southeast zone.

Drilling is continuing with two rigs on site. The current program is now planned to keep going until the end of January 2008 at which time an initial resource will be estimated. On-going metallurgical testing to determine the amenability of the ore to heap-leach treatment is being conducted by SGS-Lakefield laboratories and is now well advanced. Results are anticipated during the current quarter.

The Cerro Jumil project, as now conceived, is considered a potential heap-leachable, open pit gold project. Scoping studies can begin upon conclusion of the current drill campaign when the resource estimate and metallurgical testing are completed (1).

The table below provides the most recent drill results:



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Cerro Jumil Drill Holes
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From To Interval Grade
Hole (meters) (meters) (meters) (grams Au/tonne)
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RCHE-07-41 136.5 165.0 28.5 0.31
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RCHE-07-42 109.5 159.0 49.5 0.62
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RCHE-07-42 208.5 225.0 16.5 1.19
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----------------------------------------------------------------------
RCHE-07-43 36.0 60.0 24.0 0.57
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RCHE-07-43 88.5 166.0 67.5 1.37
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includes 129.0 142.5 13.5 4.63
----------------------------------------------------------------------
----------------------------------------------------------------------
RCHE-07-44 19.5 81.0 61.5 0.95
----------------------------------------------------------------------
----------------------------------------------------------------------
RCHE-07-45 22.5 67.5 45.0 1.09
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RCHE-07-45 129.0 156.0 27.0 1.11
----------------------------------------------------------------------
----------------------------------------------------------------------
RCHE-07-46 19.5 69.0 49.5 1.63
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includes 42.0 69.0 27.0 2.27
----------------------------------------------------------------------
RCHE-07-46 208.5 238.5 30.0 1.04
----------------------------------------------------------------------
----------------------------------------------------------------------
RCHE-07-47 34.5 123.0 88.5 2.20
----------------------------------------------------------------------
----------------------------------------------------------------------
includes 66.0 78.0 12.0 7.03
----------------------------------------------------------------------
----------------------------------------------------------------------
RCHE-07-48 13.5 132.0 118.5 1.47
----------------------------------------------------------------------
----------------------------------------------------------------------
RCHE-07-49 Pending
----------------------------------------------------------------------
----------------------------------------------------------------------
RCHE-07-50 Pending
----------------------------------------------------------------------
----------------------------------------------------------------------
(i)RCHE-07-51 87.0 174.0 79.5 1.89
----------------------------------------------------------------------
----------------------------------------------------------------------
includes 124.5 159.0 33.0 2.80
----------------------------------------------------------------------
----------------------------------------------------------------------

(i) Note - Drill intercepts with no recovery (RCHE-07-51) were not included
in the calculation of the interval width.


About Esperanza

Esperanza is an exploration company focused on precious metals and is founded on the experience and success of its management and field teams in discovering four major ore bodies. Its properties include the San Luis high-grade gold and silver discovery in central Peru and the 100%-owned Cerro Jumil bulk-tonnage gold project in Morelos State, Mexico. It has other exploration interests in Peru, Mexico and Bolivia. The Company's objective is to take properties up to the resource definition stage and then find partners to take them into production.

(1) William Bond, M.Sc., Geol. and Vice President of Exploration, Esperanza Silver Corp. is the Qualified Person (QP) under NI 43-101 responsible for the Cerro Jumil 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.

SAFE HARBOR: Some statements in this release are forward-looking in nature. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Such statements include statements as to the potential of exploration properties, the ability to finance further exploration, to 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 US 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. While Esperanza may elect to update these forward-looking statements at any time, the Company does not undertake to do so.

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

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