Company Web Site: www.esperanzasilver.com

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-09-04. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-11.

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GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-11

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Silver
Cerro Jumil	MX	$23.98	0	58%	42%	1.01 M oz	6.52 M oz
San Luis	PE	$4.87	0	99%	1%	160.80 K oz	4.19 M oz
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal						Gold	Silver
Metal Totals						1.17 M oz	10.71 M oz
Metal Prices in US$ (from 2010-03-11)						$1,108.90 per oz	$17.15 per oz
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)						$25.28	$3.57
Percentage of Total Metal Value						87.61%	12.39%
PP% | MI% | I%						0 | 68% | 32%	0 | 43% | 57%
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
Metal Value per Share (MVpSh)						US$28.85
Average Ore Value per Tonne						US$37.77
Metal Value Leverage (MVL)						22.22
Market Capitalization as % of Metal Value						4.5%
Recent Stock Price						C$1.33   (TSX/TSXV close on 2010-03-11.)   Conversion rate used: 1 Cnd$ = 0.976275 US$ )
Fully Diluted Share Count						51.40 M    ( Fully diluted share count taken from Esperanza Silver Corporation, Share Structure web page viewed September 2009. )
PP% | MI% | I%						0 | 65% | 35%
Gold Metrics-- all Projects/Deposits
Average Gold Ore Grade						0.928 g/t
Market Capitalization     per oz of Gold In Ground						$56.96   US$  |   58.34   C$
Gold Eq Oz Estimate						1.34 M oz   ( 1.17 M oz are in ground)
Market Capitalization     per oz of Gold Equilavent						$49.91   US$  |   51.12   C$
See terms for more about GoldMinerPulse metrics.

GoldMinerPulse Coverage Status:

• GoldMinerPulse coverage of Esperanza Silver Corporation is complete pending a final internal review.

(NI) 43-101 Report:

Title: Cerro Jumil Project, Mexico NI 43-101 Technical Report
Date: 2008-09-30 (116 pages)

Project Location: Morelos, Mexico  /  Mining Region: Sierra Madre del Sur

Map View: View the Cerro Jumil project on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$13.69	634.75 K oz	0.850 g/t	23.23 M t
Silver	$0.15	448.06 K oz	0.600 g/t	23.23 M t
Estimate notes: See Table 17.6 Cerro Jumil Resources Reported at 0.3 g/t Gold Equivalent Cutoff on p. 103 of 106 in the NI 43-101 dated September 2008. 0.3 g/t gold cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$8.11	376.14 K oz	0.740 g/t	15.81 M t
Silver	$2.03	6.07 M oz	11.940 g/t	15.81 M t
Estimate notes: See notes for Measured + Indicated.

(NI) 43-101 Report:

Title: Updated Mineral Resource Estimate San Luis Project, Ancash Department, Perú
Date: 2009-01-09 (158 pages)

Updates: See Silver Standard Mineral Reserves and Resources Web page (viewed July, 2009).

Project Location: Yungay Province, Peru

Map View: View the San Luis Silver Standard Resources and Esperanza Silver joint venture on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.64	29.77 K oz	34.300 g/t	60.00 K t
Silver	$0.22	657.65 K oz	757.600 g/t	60.00 K t
Estimate notes: Resource quantities adjusted for ownership percentage of 45.0%.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.79	129.40 K oz	20.800 g/t	430.00 K t
Silver	$1.15	3.45 M oz	555.000 g/t	430.00 K t
Estimate notes: Resource quantities adjusted for ownership percentage of 45.0%. 6 g/t gold equivalent cut-off.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.03	1.62 K oz	5.600 g/t	20.00 K t
Silver	$0.03	81.71 K oz	282.400 g/t	20.00 K t
Estimate notes: See Table 17-17: San Luis Mineral Resources on p. 85 of 158 in the (NI) 43-101 dated January 2009. Resource quantities adjusted for ownership percentage of 45.0%. 6 g/t gold equivalent cut-off.