Esperanza Announces Initial Cerro Jumil Gold Resource

VANCOUVER, BC - Esperanza Silver Corporation reported the initial resource estimate on its 100%-owned Cerro Jumil gold project in Morelos State, Mexico. The independent estimate includes 642,000 gold equivalent ounces in the measured and indicated categories and 442,000 gold-equivalent ounces in the inferred category.
The deposit currently contains three contiguous zones - Southeast, Las Calabazas and West. The latter two are likely to be extended by future drilling. Gold is found in all three areas while silver is concentrated in the West and Las Calabazas zones.
Bill Pincus, President and CEO, said, "The project is now being advanced into a pre-feasibility level of study. Metallurgical testing of bulk-sample material is ongoing at the Center for Advanced Mineral and Metallurgical Processing at Montana Tech. University. Previous metallurgical testing has confirmed the amenability of Cerro Jumil gold mineralization to both conventional and heap-leach processing with recovery rates of up to 95% and 73%, respectively. The new work will focus on initial flow sheet development and optimization of various processing alternatives."
Esperanza is now preparing a permit application for an infill drilling campaign designed to upgrade mineralization now categorized as inferred into the measured and indicated categories. It will also test a newly identified target immediately west of the Las Calabazas area, as well as the northern extension of the West Zone where high grade silver has been discovered. Drilling is planned to begin in the first quarter of 2009.
The company's address is 570 Granville Street, Suite 300, Vancouver, BC V6C 3P1, (604) 685-2242, fax: (604) 681-1157.