Mr. Bill Pincus reports

ESPERANZA REPORTS NEW CERRO JUMIL DRILL RESULTS AND APPOINTS PROJECT FINANCE ADVISOR

Esperanza Resources Corp. has provided an update on its Cerro Jumil, Mexico, project. Highlights of the continuing drill results include:

• Drill hole RCHE-11-220 intersected two separate intervals with 22.5 metres containing 2.5 grams of gold per tonne and 30 metres containing 1.1 grams of gold per tonne.
• Drill hole RCHE-11-221 intersected two separate intervals with 10.5 metres containing 1.7 grams of gold per tonne and 18 metres containing one g/t gold.
• Drill hole RCHE-11-222 intersected 40.5 metres containing 1.6 grams gold per tonne.

Complete results are in the accompanying table, and drill hole locations are shown on the map on the company's website. A detailed drill hole plan map can also be found on the company's website.

Drill hole RCHE-11-220 had two consecutive samples (1.5 metres each) which contained 119 and 82 grams of gold per tonnes, respectively. This demonstrates that small but high-grade pockets do exist. All assays are cut to a top grade of 10 grams per tonne for the calculation of the average grade of any interval as well as for resource estimation.

The current drill results include infill holes designed to upgrade areas of inferred resource to measured or indicated status (RCHE-11-220, 221 and 222), condemnation holes that confirm no mineralization exists in areas proposed for future mine infrastructure (RCHE-11-217, 218, 226, 227, 228), and confirmation drilling of possible extensions of known zones either to depth or along strike of the identified deposit (RCHE-11-219, 223, 224,225).

Esperanza has contracted two new drill rigs which are expected to be in place this month. These will be used for exploration drilling as well as geotechnical and metallurgical sampling to support the upcoming feasibility study.

Project finance adviser contracted

Esperanza has appointed Euroscandic International Group Consulting Inc. to act as an independent financial adviser for the Cerro Jumil gold project. The company, together with Euroscandic, has initiated dialogues with non-equity capital sources with the aim of awarding a mandate to lead the debt portion of the anticipated project financing. It is the company's intention to appoint a lead arranger during the first quarter of 2012. Initiating this process will allow non-equity sources an early review and participation in the feasibility study to ultimately expedite the financing.

Euroscandic is an independent company specialized in the natural resources and raw materials sectors, offering investment banking and corporate advisory services including project finance advisory.

Qualified person

William Bond, CPG and vice-president, Esperanza Resources, is the qualified person (QP) under National Instrument 43-101 responsible for the Cerro Jumil exploration program. He has verified the drill results and other data disclosed in this news release, including sampling, analytical and test data. Fieldwork has been conducted under his supervision. All samples were submitted to ALS Chemex laboratories for analysis in Vancouver, Canada. Gold samples were analyzed by fire assay and atomic absorption spectroscopy with a 30-gram nominal sample weight. Silver is analyzed by induction-coupled plasma atomic emission spectroscopy (ICP-AES). A description of quality control and quality assurance protocols can be found at the company's website.

                        CERRO JUMIL DRILL RESULTS                                                           

                               From        To  Interval               Grade 
Drill hole                 (metres)  (metres)  (metres)  (grams gold/tonne)

RCHE-11-217                                               Condemnation hole 
RCHE-11-218                                               Condemnation hole 
RCHE-11-219                   246.0     279.0      33.0                0.82 
includes                      256.5     265.5       9.0                2.00 
RCHE-11-220                    87.0     109.5      22.5                2.51 
includes                       87.0     100.5      13.5                3.61 
RCHE-11-220                   162.0     192.0      30.0                1.13 
RCHE-11-221                    22.5      33.0      10.5                1.72 
RCHE-11-221                   109.5     127.5      18.0                1.03 
RCHE-11-222                     1.5      42.0      40.5                1.56 
RCHE-11-223                                        No significant intervals 
RCHE-11-224                                        No significant intervals 
RCHE-11-225                                        No significant intervals 
RCHE-11-226                                Maiz target -- condemnation hole 
RCHE-11-227                                Maiz target -- condemnation hole 
RCHE-11-228                                Maiz target -- condemnation hole 

We seek Safe Harbor.