Esperanza Silver Corp. | Company Profile

About The Company

Esperanza Silver Corporation is an emerging producer committed to the development of its two late-stage projects. Since startup in 2002 its geologists have discovered these two exceptional gold projects – San Luis, a joint venture in Peru and the 100%-owned Cerro Jumil in Mexico. The Company's objective is to see its discoveries advance as efficiently as possible.  Our focus is on the countries we know best: Mexico and Peru.

Cerro Jumil, Mexico – a potential heap-leach gold project.     On October 1, 2008 the company announced the results of an independent resource estimate on its Cerro Jumil project. The deposit contains 642,000 gold equivalent ounces classified as measured and indicated plus 442,000 gold equivalent ounces classified as inferred. The project is now being advanced into a prefeasibility level of study.

San Luis, Peru – an exciting high-grade gold and silver epithermal vein system discovered through grassroots exploration. Currrent resources contain 485,000 gold equivalent ounces. An ongoing feasibility study is expected to be completed by the first half of 2009. San Luis is a joint venture with Silver Standard Resources which currently owns 55% and can earn up to an 80% interest by funding the property through to production. A resource estimate is expected in the final quarter of 2008. Regional exploration on the San Luis claim block has led to the discovery of porphyry-style base metal mineralization in the BP zone. This region has high potential and drilling is on-going.

Esperanza is well funded, with C$8.5 million available for exploration at the beginning of the first quarter for 2009.

The Projects

San Luis Project

Property

An emerging district in the mining-friendly Ancash Region of Peru includes a high-grade gold and silver vein system and a separate porphyry-style discovery. Elevation 3,800 meters to 4,700 meters, size 25,000 hectares (95 square miles).

Ownership
Joint venture with Silver Standard Resources, which currently owns a 55% interest and can increase this up to 80% by funding the project to production. Silver Standard is now the JV operator; Esperanza is fully carried.

Mineralization
In August 2005, Esperanza discovered high-grade gold and silver veins in an epithermal system covering five kilometers of strike length on surface. Prospecting in late 2007 discovered a zone of porphyry-style mineralization six kilometers southeast of the vein system.

Current Status
By the end of 2007 drilling on the Ayelén Vein had confirmed the high grades along strike for 650 meters and down dip for 225 meters. A pre-feasibility study will begin in early 2008. Other veins will be tested for additional high-grade shoots and underground exploration will commence on Ayelén as soon as permits are in place.

Drilling in late 2007 identified significant silver/base metals mineralization within one or more breccia pipes of the BP Zone. Geologic indications point towards a distinct porphyry-type system.

More detailed exploration has commenced on other areas of the property to locate the source of stream sediment anomalies identified in reconnaissance work late in 2006. To date, only 25% of the property has been prospected.

Cerro Jumil Project

Property - An advanced open-pit, heap-leach gold project, Morelos State, Mexico.
Ownership - 100%

Mineralization - Bulk-tonnage, skarn gold deposit

Current Status - N.I. 43-101 compliant resource estimate has estimated 642,000 gold-equivalent ounces classified as measured or indicated and 442,000 gold-equivalent ounces as inferred.
Metallurgical testing is now on-going as the project advances into a pre-feasibility stage.

For more detailed information about the projects and the company in general, please visit the website of Esperanza Silver!

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