Esperanza to Sell San Luis, Peru Interest to Silver Standard

Esperanza Resources Corp. (TSX VENTURE:EPZ)(PINK SHEETS:ESPZF) is pleased to
announce that it has reached an agreement to sell its minority interest in the
San Luis project, Peru, to Silver Standard Resources Inc.
(TSX:SS0)(NASDAQ:SSRI), the majority owner and operator of San Luis. The
transaction has been approved by the Boards of Directors of Esperanza and Silver
Standard but remains subject to customary conditions, including the receipt of
regulatory and other required approvals. 


Under the terms of the agreement, Esperanza will receive as consideration:



--  A payment of CDN$17 million; 
--  Return of the 6,459,600 shares of Esperanza owned by Silver Standard;
    and 
--  A one percent net smelter return royalty on all production. 



Bill Pincus, Esperanza's President and CEO, said, "This is a good transaction
all the way around. Esperanza is monetizing its minority interest in a non-core
asset. The cancellation of the Esperanza stock could remove up to approximately
11 percent of the outstanding shares and result in a greater asset value per
remaining share. The cash payment together with the existing funds will result
in a $27 million treasury for EPZ. 


"The proceeds will allow Esperanza to focus on the advancement of the Cerro
Jumil, Mexico project, continue EPZ's involvement with Global Mineral Ltd. and
its Strieborna, Slovakia deposit and move forward with its new exploration
prospects in Peru and Mexico. With interests in two advance-stage projects, a
full treasury and an exciting exploration portfolio, Esperanza is well
positioned for future growth and creating new opportunities to further enhance
shareholder value.


"It has been a pleasure concluding this agreement with Silver Standard and we
wish them the best success in developing San Luis."


About Esperanza

Esperanza is focused on advancing the development of its principal property, the
wholly-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 35%
interest in Global Minerals Ltd. (TSX VENTURE:CTG), majority owner of the
Strieborna silver/copper/antimony project in Roznava, Slovakia.


SAFE HARBOUR: Some statements in this release are forward-looking in nature. The
United States Private Securities Litigation Reform Act of 1995 provides a "safe
harbour" 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.