Esperanza Resources Corp.

Esperanza Resources Corp.

December 10, 2010 07:00 ET

Esperanza's Special Warrants of Global Minerals Ltd. Converted Into Shares and Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2010) - Esperanza Resources Corp. ("Esperanza") (TSX VENTURE:EPZ) is pleased to announce that, at the annual general meeting of the shareholders of Global Minerals Ltd. (TSX.V:CTG) held on December 3, 2010, Global's shareholders overwhelmingly approved Esperanza acquiring greater than 20% of Global's stock through the conversion of its special warrants and thereby becoming a control person of Global. The special warrants have been converted accordingly, and Esperanza now holds 23,493,233 shares of Global, representing a 36.4% ownership interest in Global, and warrants to purchase a further 2,079,951 shares.

About Esperanza

Esperanza is an emerging producer focused on advancing the development of its two principal properties: the San Luis gold and silver joint venture in Peru and the 100%-owned Cerro Jumil gold project in Morelos State, Mexico. It is also actively investigating 11 other exploration interests in Peru and Mexico. In October of 2010 it announced a strategic investment which resulted in a 36.7% interest in Global Minerals Ltd. owner of the Strieborná silver/copper/antimony project in Roznava, Slovakia.

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 the Cerro Jumil property, the ability to finance further exploration, 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 U.S. Securities and Exchange Commission. The forward-looking statements contained in this document constitute managements' 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. Forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and the company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change. For these reasons, investors should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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