Esperanza Silver Corp. Announces $5 Million Private Placement

Esperanza Silver Corp. (TSX VENTURE:EPZ)(PINK SHEETS:ESPZF) - 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended, or any state securities laws and may not be offered or sold within
the United States or to U.S. persons unless an exemption from such registration
is available.


Esperanza Silver Corp. ("Esperanza" or "the Company") today announced a private
placement financing for gross proceeds of up to $5 million. The placement will
consist of 4,000,000 Units at $1.25 per Unit. Each Unit will consist of one
common share and one common share purchase warrant to purchase another share for
$1.75 for two years. If, after the expiry of all Canadian resale restrictions,
the closing price of Esperanza's shares on the TSX Venture Exchange is $2.20 or
greater for a period of 20 consecutive trading days, the Company may accelerate
the expiry of the Warrants, to 21 trading days after giving notice thereof. 


Finder's fees of 5% are payable in cash or Units to certain finders in
consideration of their efforts in locating investors. 


The proceeds from the private placement will be used to continue exploration on
the Company's Cerro Jumil (Mexico), San Luis (Peru), and other exploration
programs as well as general working capital purposes.


There can be no assurance that the private placement will be completed as
proposed or at all and it is subject to all applicable regulatory approvals. The
shares, warrants and any shares issued on exercise of the warrants, are subject
to restrictions on transfer for a period of four months from closing.


About Esperanza

Esperanza is a gold and silver company focused on advancing the development of
its two principal properties: the 100%-owned Cerro Jumil gold project in Morelos
State, Mexico and the San Luis gold and silver joint venture in Peru. It also
holds an extensive portfolio of exploration properties in Mexico and Peru.


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.