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Gold/Mining/Energy : Esperanza Silver

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From: sageyrain	10/26/2007 2:27:27 PM
	of 53

PR, 10/22 PR, Cerro Jumil drilling. Esperanza Updates Cerro Jumil Project Monday October 22, 7:00 am ET VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2007) - Esperanza Silver Corporation (TSX VENTURE:EPZ - News; PINK SHEETS:ESPZF - News) 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: ADVERTISEMENT - 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: ---------------------------------------------------------------------- Cerro Jumil Drill Holes ---------------------------------------------------------------------- From To Interval Grade Hole (meters) (meters) (meters) (grams Au/tonne) ---------------------------------------------------------------------- RCHE-07-41 136.5 165.0 28.5 0.31 ---------------------------------------------------------------------- ---------------------------------------------------------------------- RCHE-07-42 109.5 159.0 49.5 0.62 ---------------------------------------------------------------------- RCHE-07-42 208.5 225.0 16.5 1.19 ---------------------------------------------------------------------- ---------------------------------------------------------------------- RCHE-07-43 36.0 60.0 24.0 0.57 ---------------------------------------------------------------------- RCHE-07-43 88.5 166.0 67.5 1.37 ---------------------------------------------------------------------- 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 ---------------------------------------------------------------------- RCHE-07-45 129.0 156.0 27.0 1.11 ---------------------------------------------------------------------- ---------------------------------------------------------------------- RCHE-07-46 19.5 69.0 49.5 1.63 ---------------------------------------------------------------------- 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.

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