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Esperanza Reports Continued Expansion of Cerro Jumil's Southeast
Zone
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Vancouver, B.C: Esperanza Silver Corporation (TSX.V:EPZ) is pleased to
provide this update on its 100% owned Cerro Jumil project in Mexico.
Highlights include:

- Drill Hole RCHE-07-55 yielded 85.5 meters containing 1.17 g/t gold.

- Drill Hole REHE-07-57 yielded two mineralized zones of 48 meters
containing 1.16 g/t Au and 55.5 meters containing 1.71 g/t Au.

- Drill Hole RCHE-07-60 yielded 85.5 meters containing 1.05 g/t Au.

- The on-going drill program has been expanded as new drilling yields
continued positive results.

On-going Drilling Expands Gold Mineralization
The recently received analytical results from nine new drill holes have
confirmed gold continuity and expanded the central portion of the
Southeast zone. The new drilling shows that this mineralization
continues down dip to the east. Drill roads and pads are now in place
for an additional 12 drill holes to test the continuity of gold further
eastward in the core area. Key results from the drill holes are
summarized below.

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Cerro Jumil Drill Results
Jan-08
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Grade
From To Interval (grams Au/
Hole (meters) (meters) Length tonne)
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RCHE-07-55 61.5 150.0 85.5 1.17
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RCHE-07-56(i) 64.5 94.5 30.0 1.34
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RCHE-07-57 78.0 126.0 48.0 1.16
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RCHE-07-57(ii) 177.0 243.0 55.5 1.71
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includes 180.0 195.0 15.0 3.18
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RCHE-07-58(ii) 64.5 123.0 39.0 0.93
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RCHE-07-59 73.5 103.5 30.0 0.88
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RCHE-07-60 40.5 126.0 85.5 1.05
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RCHE-07-61 52.5 127.5 75.0 1.08
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RCHE-07-62 48.0 87.0 36.0 0.77
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DHE-07-52 169.5 195 25.5 1.49
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DHE-07-52 269.5 292 22.5 1.24
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DHE-07-52 317.5 321.4 3.9 1.67
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* includes a 1.5 meter interval containing 58.3 g/t Au which was cut to
10 g/t Au
** drill intercepts with no recovery were not included in the
calculation of the interval width.

Drill Program Expanded
A full project review conducted in early January has resulted in
Esperanza's decision to expand the on-going drill program. This was
based on three primary factors. The first is the continued positive
results and expansion of gold mineralization in the central Southeast
zone. The second is the possibility of expanding this zone in a
northerly direction. Drill pads are in place and up to 10 new holes are
planned. Success in this direction has the potential to significantly
expand tonnage. Finally, current drilling is testing the southern
extension of the west zone. The attached map illustrates the areas for
future drilling.

In anticipation of an initial resource estimate Esperanza has
contracted Dean Turner of Exploration
Geotechnologies Inc. to act as the independent qualified person in
accordance with National Instrument 43-101. Mr. Turner has begun his
review of Esperanza's sampling and data collection procedures and will
begin working with Esperanza geologists on the determination of the
best deposit modeling parameters. A resource will be estimated upon the
completion of the drill program described above and receipt of all
analytical results.

About Esperanza
Esperanza is an exploration company focused on precious metals and is
founded on the experience and
success of its management and field teams in discovering ore bodies.
Its properties include the San Luis gold and silver joint venture in
Peru and the 100%-owned Cerro Jumil gold project in Morelos State,
Mexico. It is also actively investigating 17 other exploration
interests in Peru and Mexico.

QUALIFIED PERSON: William Bond, M.Sc., Geol. and Vice President of
Exploration, Esperanza Silver Corp. is the Qualified Person (QP) under
NI 43-101 responsible for the Cerro Jumil exploration program. He has
verified the drill and other data disclosed in this news release,
including sampling, analytical and test data. Field work has been
conducted under his supervision. All samples were submitted to ALS
Chemex laboratories in Vancouver, Canada for analysis. Gold samples
were analyzed by fire assay and atomic absorbtion spectroscopy with a
30 g nominal sample weight. A description of quality control and
quality assurance protocols can be found at .

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.

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.

- 30 -

For further information, contact:

Esperanza Silver Corp
William Pincus, President and CEO
Toll free: (866) 890 5509
info@esperanzasilver.com
www.esperanzasilver.com

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Copyright (c) 2008 ESPERANZA SILVER CORP. (TSX-V:EPZ) All rights
reserved. For more information visit our website at
http://www.esperanzasilver.com/ or send mailto:info@esperanzasilver.com
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