Tsx Esperanza Gold Usd69.4m 0712 2013

7/27/2019 Tsx Esperanza Gold Usd69.4m 0712 2013

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A CLEAR PATH TO GOLD


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2

LEGAL DISCLAIMER

Some statements in this presentation constitute forward-looking statements within the meaning of applicable U.S. securities

laws and forward-looking information within the meaning of applicable Canadian securities laws, which are collectively referred

to as forward-looking statements. The United States Private Securities Litigation Reform Act of 1995 provides a safe harbor

for certain forward-looking statements. Such statements include but are not limited to statements as to the completion of the

transactions between Esperanza Resources Corp. (the Company) and Pan American Silver Corp., the potential of the Esperanza

Gold Project property, the Companys plans in respect of exploration and development, including: significant costs and timing

thereof and other exploration properties. The forward-looking statements involve risks and uncertainties and other factors that

could cause actual results to differ materially, including those relating to permitting, availability of equipment, exploration results

and bringing properties into production. Please refer to a discussion of these and other risk factors in the Companys public

filings with the Canadian regulators and the Form 20-F of the Company filed with the US Securities and Exchange Commission.

The forward-looking statements contained in this presentation constitute managements current estimates as of the date of this

presentation with respect to the matters covered herein. We expect that these forward-looking statements will change as new

information is received and that actual results will vary, possibly in material ways. While we may elect to update this forward-

looking information at any time, we do not undertake to do so.

This presentation is not, and under no circumstances is to be construed as, a solicitation or an offer of any kind. The matters setforth in this presentation do not constitute an agreement or offer that may be accepted. Accordingly, no person may bring a

claim or action against another for a failure to negotiate, agree or enter into any agreement with respect to matters contained in

the presentation.

TSX.V: EPZ

OTCQX: ESPZF


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STRONG MANAGEMENT TEAMProven mine builders, led by former Minefinders executive andoperating team.

ESPERANZA GOLD PROJECT

Accelerating to production and positive cash flow.

$38 MILLION IN CASH AND SECURITIESWell funded to bring our first asset into production.

LONG-TERM OBJECTIVEBuilding a multi-mine precious metals producer.

HIGHLIGHTS

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THE NEW TEAM

MANAGEMENT

GREG D. SMITH

President & CEO

Former CFO Minefinders, Chartered Accountant

DANIEL OFLAHERTY

Executive VP

Former Director, Investment Banking at Scotia Capital

ANDREW POOLER

COO

Former COO of Abacus Mining and Exploration Corp

Senior Vice President, Mine Operations for Pan American Silver

KYLIE DICKSON

CFO

Former Controller of Minefinders

JOHANNES J. MILLER

VP Operations

Former Operations Manager and Acting VP Operations for

Minefinders

NON EXECUTIVE DIRECTORS

WILLIAM J. PINCUS

Chairman

Former CEO of Esperanza with over 30 years experience as a

certified professional geologist

ANDREW SWARTHOUT

Director

CEO of Bear Creek Mining Corp. and former officer of Southern

Peru Copper

MARCEL DE GROOT

Director

Founder and President of Pathway Capital Ltd.

BRIAN E. BAYLEY

Director

Resource Lending Advisor for Sprott Resource Lending Corp.

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THE ESPERANZAGOLD PROJECT

100% ownership

15,025 hectares

Gold oxide deposit

Planned conventional open-pit heap-leachoperation with short construction lead-time& manageable capital requirements

Updated PEA completed in September 2011

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ESPERANZA GOLD PROJECT HIGHLIGHTS

6

WELL DEFINED GOLD RESOURCE

LOW CAPITAL REQUIREMENTS

STRONG ECONOMICS

FAVOURABLE LOCATION IN MEXICO

LOW RISK CONVENTIONAL OPERATION (OPEN-PIT HEAP-LEACH)

SILVER BYPRODUCT CREDIT

EASY ACCESS TO INFRASTRUCTURE

EXPLORATION UPSIDE

STRONG COMMUNITY SUPPORT

EXPERIENCED MINE BUILDERS

QUICK TIMELINE TO PRODUCTION


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Landfill

Calabazas Hilltop

Leach Pad Fields

Power Lines

Cerro Jumil

ESPERANZA GOLD PROJECT PIT & EXPLORATION UPSIDE

7

SouthwestExtension


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PEA HIGHLIGHTS: SEPTEMBER 2011

SEPTEMBER 2010 RESOURCE (USED AS THE BASIS FOR THE PEA)

TONNAGE(000S)

GOLDGRADE(G/T)

SILVERGRADE(G/T)

GOLD(KOZS)

SILVER(KOZS)

M&I 34,406 0.83 1.8 913 1,951

INFERRED 8,596 0.83 6.9 230 1,904

TWO-STAGES OF CRUSHING

AVERAGE ANNUAL GOLD PRODUCTION (KOZS) 103

OPERATING COSTS (NET OF BY-PRODUCTS) ($/OZ AU) 499

INITIAL CAPITAL COST ($MM) 114

PRODUCTION RATE (KTPD) 20

GOLD RECOVERY 65-75%

SILVER RECOVERY 25%

OVERALL STRIP RATIO (WASTE:ORE) 2.2:1

NSR ROYALTY 3%

Note: Totals may not sum to 100% due to rounding

Based on Sept. 2010 Resource including 41,500 meters of drilling (does not include positive 2011 & 2012 drilling of 22,000 meters)

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VALUE CONSIDERATIONSAs per Esperanza Gold Project 2011 Preliminary Economic Assessment

9

0%

10%

20%

30%

40%

50%

60%

70%

$0

$50

$100

$150

$200

$250

$300

$350

$1,00

0

$1,05

0

$1,10

0

$1,15

0

$1,20

0

$1,25

0

$1,30

0

$1,35

0

$1,40

0

$1,45

0

$1,50

0

$1,55

0

$1,60

0

$1,65

0

$1,70

0

INTERNALRATEOF

RETURN

(%)

AFTER-TAX

NETPRE

SENTVALUE(US$M)

PRICE OF GOLD (US$/OZ)(1)

IRR

5% NPV

7% NPV

$1,250/oz Au

After-Tax NPV5% of $165M

IRR of 35%

$1,550/oz Au

After-Tax NPV5% of $270M

IRR of 53%(1)Silver price based upon a Ag:Au price ratio of 55:1

Based on initial 6 year mine life does not include 0.5 Moz Au resource increase


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913@ 0.83 gpt

1,474@ 0.91 gpt

230

169

2.0

16.0

1.9

2.8

0

5

10

15

20

25

30

35

40

45

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

SILVER

RESOURCES(MOZ)

GOLD

RESOURCES(KOZ)

10

SEPTEMBER 2012 RESOURCE

10

September 2010 ResourceGold Silver

September 2012 ResourceGold Silver

M&I Resources Inferred Resources

SEPTEMBER 2012

RESOURCE STATEMENT(63,500 METERS OF DRILLING)

TONNAGE(000S)

GOLD

GRADE(G/T)

SILVER

GRADE(G/T)

GOLD(KOZS)

SILVER(KOZS)

M&I 50,336 0.91 9.9 1,474 16,015

INFERRED 7,970 0.66 10.9 169 2,793

INCREASE TO M&IFROM 2010

+46% +10% +466% +61% +729%

6 yearmine life


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CAPITAL COSTESTIMATE

New management toreview and optimizecapital costs from PEA

PEA Operating Costs:


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Q1 2012 Q2 2012 Q3 2012 Q4 2012 20132015

ESPERANZA GOLD PROJECT MOVING FORWARD

INAH CompletesArchaeological Review

Prepare Permit Application

Resource Update

Submit Permit Application

Expansion Drilling

Initiation ofFeasibility Study

Addition of Experienced Operating Team

Completed $34MEquity Placement

ConstructionSurface LandAgreement

Obtain All Permits

Production

Feasibility Study

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13

ESPERANZA RESOURCES & PAN AMERICAN SILVER

TRANSACTION ANNOUNCED FEBRUARY 25, 2013


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TRANSACTION STRUCTURE

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Esperanzas Pro Forma Asset ProfileMineral Property Acquisition

La Bolsa

Pico Machay

Calcatreu

$68 million Cash

$15 million Standby Facility

Esperanza

26% of Global Minerals

Exploration Properties

Royalty Portfolio

La Bolsa, Pico Machay,Calcatreu

50.9 million shares10 million warrants

Private Placement into Esperanza

$35 million cash

$15 million standby facility

20.6 million shares$1.70 / share


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PRO FORMA ASSET PROFILE

15

Note: La Bolsa M&I inclusive of P&P material

Source: La Bolsa resource based on January 2011 technical report;

Esperanza resource based on October 2012 technical report;

Pico Machay resource based on April 2011 technical report press release;

Calcatreu resource based on April 22, 2008 Aquiline Resources press release

Asset LocationReserves and Resources

La Bolsa

Esperanza

Pico Machay

Calcatreu

Measured & Indicated Inferred

Gold Silver Gold Silver

Contained Grade Contained Grade Contained Grade Contained Grade

(koz) (g/t) (koz) (g/t) (koz) (g/t) (koz) (g/t)

La Bolsa 427 0.6 6,232 9.0 222 0.5 3,343 7.6

Esperanza 1,470 0.9 16,010 9.9 170 0.7 2,790 10.9

Pico Machay 270 0.8 -- -- 450 0.6 -- --

Calcatreu 676 2.6 6,606 25.7 226 2.1 1,821 16.6

Total 2,843 28,939 1,068 7,954


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CORPORATE PROFILE

16

Potential Annual Gold Production (000 oz)

Note: production values based on 5-year averages; Pico Machay and Calcatreubased on internal estimates, further study required. La Bolsa IRR is pre-tax andEsperanza is post-tax. Sequence is conceptual and subject to further study.

GROWTH

HIGH MARGIN, LOW CAPEX

LOW RISK

PROVEN TEAM

Near term gold production in Mexico Substantial production potential Leading mid-tier gold producer by 2016

Focus on open-pit low infrastructure projects Focus on cash flow and financial returns

Strong balance sheet Supportive major shareholder Diversified in stable jurisdictions in Americas

Executives with significant operatingexperience

Strong Board with Pan American Silversupport

42

105

~150

La Bolsa Esperanza Pico Machay/ Calcatreu

~300

95% IRR@ $1,200 Au

32% IRR

@ $1,200 Au

147


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1717

Esperanza Gold Project

Caballo Blanco

Cerro del Gallo

San Antonio

La India San Francisco

El Castillo

La Colorada

0.20

0.40

0.60

0.80

1.00

0 500 1,000 1,500 2,000

M&IRESOURCEGOLD

GRADE(g/t)

MEASURED & INDICATED GOLD RESOURCE (koz)

Open-Pit Heap Leach Mines / Projects in Mexico

Producing

Development

Size of bubble denotes

est. annual product ion

La Bolsa

Source: Scotia Capital, Company Reports

Resource grades may not be diluted for mining

PEER BENCHMARKING


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Luna Timmins

McEwen

Primero

Argonaut

Alamos

AuRico

Rio Alto

EPZ + LB

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

100 120 140 160 180 200 220

M

ARKETCAPITALIZATIO

N(

US$MM)

2013 ANNUAL GOLD PRODUCTION FORECAST (000 OZ)

PEER COMPARISON PEER COMPARISON RERATE POTENTIAL

18

Market Capitalization vs Gold Production Per Year

Note: 2012 production shown for peer group from BMO equity research, annual production shown for Esperanza, La Bolsa based on 2012 and

2011 technical reports, respectively; Pico Machay and Calcatreu based on internal estimates, further study required.

RER

ATE

POTENTIAL


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PEER COMPARISON COST METRICS

19

Operating Cash Costs (US$/oz)

$1,026$1,011

$907$852$842

$766$753$695

$671$633$589

$436

$510$499

Kirkland LakeLake ShoreOsiskoBrigusAllied NevadaAuRicoNew GoldAurizonArgonautPrimeroRio AltoLa BolsaEsperanzaAlamos

Note: 2012 cash costs shown for peer group from BMO equity research; Esperanza and La Bolsa cash costsbased on January 2012 and January 2011 technical reports, respectively, net of by products;Esperanza cash cost does not include 3% NSR royalty


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$499 $510

$42

$184$138

$33$55

$780

$703

$1,200

Esperanza La Bolsa Peer Average

Cash Costs Royalty Dev. Capex Sus. Capex Spot Gold

PEER COMPARISON BREAK-EVEN METRICS

20

Break-Even Gold (US$/oz)

Spot Gold: US$1,400 /oz

SignificantMargin

Source: Peer Average based on BMO and Canaccord equity research. Esperanza and La Bolsa are based on the January 2012Preliminary Economic Assessment and the January 2011 Preliminary Economic Assessment, respectively.


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LA BOLSA OPEN PIT PROJECT

21

Avg. AnnualProduction 42,000 oz Gold

Cash Costs US$510 / oz (2011)

Initial Mine Life 6+ years

Development

Capital US$31 million (2011)

Resources(M&I)

427,000 oz Gold6.2 million oz Silver

Resources(Inferred)


Source January 2011 PFS

StatusPermittedConstruction Ready


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PICO MACHAY OPEN PIT PROJECT

22

Resources(M&I) 270,000 oz Gold

Resources(Inferred) 450,000 oz Gold

Source2011 resource update

(resource only)

StatusDrill ready targetsFurther work required


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CALCATREU OPEN PIT PROJECT

23

Avg. AnnualProduction ~90,000 oz Gold

Cash Costs US$226 / oz (2007)

Initial Mine Life 5+ years

Development

Capital US$79 million (2007)

Resources(M&I)


Resources(Inferred)


Source2007 feasibility2008 resource update

StatusFeasibility stage projectFurther work required


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PAN AMERICAN SILVER

24

Market Capitalization $1.92B

30 Day Average Volume $2.23M

2012 Silver Production 25.1 Moz

# Producing Mines 7

Second largest primary silverproducer in the World

Operating 7 mines in 4 countries

Reputation as strong mine builderand operator

Highly liquid with a diverseshareholder base

Committed to being a supportiveEPZ shareholder

Ability to lend technical assistancethrough board positions

AN INDUSTRY LEADING PARTNER


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PRO FORMA CAPITAL STRUCTURE

25

Shares Outstanding 150.3 million

Private Placement Price @ $1.70 / share

Warrants Outstanding @ $1.80 23.6 million

Cash From Warrant Exercise $42 million

Pro Forma Market Capitalization $120 million

Cash and Marketable Securities $72 million

Enterprise Value $50 million

Major Shareholders

Pan American 48%

Sprott 11%

Wexford 4%

Note: Capital Structure on a basic basis.


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26

VALUE PROPOSITION

26

FULLY-FUNDED WITH

STRONGBALANCE

SHEETNEAR TERM

PRODUCTION

EXPLORATIONUPSIDE ATMULTIPLE

ASSETS

ENHANCEDCAPITAL

MARKETSPROFILE

RISK

DIVERSIFICATION

EXCEPTIONAL

BOARD &

MANAGEMENT

STRONG CORE

SHAREHOLDER

3 MILLION OZ

GOLD (M&I)

29 MILLION OZ

SILVER (M&I)


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APPENDIX


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APPENDIX: CORPORATE INFORMATION

ESPERANZA RESOURCES CORP.

TSX.V LISTING (SINCE AUGUST 2003) EPZ

OTCQX LISTING ESPZF

CURRENT PRICE (24-MAY-13) C$0.68

HIGH LOW (12 MONTH) C$0.64 $1.70

AVERAGE DAILY VOLUME (3 MONTHS) 92,000

SHARES OUTSTANDING 79 M

MARKET CAP (ISSUED/OUTSTANDING) C$55 M

CASH C$34 M

VALUE OF SHARES IN GLOBAL MINERALS LTD. C$3 M

WEBSITE www.epzresources.com

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APPENDIX: OTHER ASSETS

Operator

Project Strieborna San Luis

Biricu

El Canario

Gallos Blancos

Location Slovakia Peru Mexico

Commodity Ag, Cu Ag, Au Au

Resources

M&I INFERRED290 koz Au Reserves

7.2 Moz Ag ReservesExploration Stage14.3 Moz Ag

48.1 Mlbs Cu

13.5 Moz Ag

29.8 Mlbs Cu

EPZ Interest 26% equity interest 1% NSR 100% owned

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APPENDIX: ESPERANZA GOLD PROJECT

CAPITAL COST ESTIMATE

PEA PREPRODUCTION CAPITAL (US$M) TWO-STAGE CRUSH RUN-OF-MINE

MINE DEVELOPMENT (PRE-STRIP) $10.5 $10.5

MINING EQUIPMENT/INFRASTRUCTURE $52.0 $52.0

PLANT/INFRASTRUCTURE $32.1 $18.1

LEACH PAD $17.4 $17.4

OWNER COSTS $1.6 $1.6

TOTAL PEA PREPRODUCTION CAPITAL $113.6 $99.6

WORKING CAPITAL $13.6 $10.0

LOM SUSTAINING CAPITAL $7.0 $7.0

INCLUDED IN PREPRODUCTION CAPITAL

TRUCK FLEET $19.5

SUPPORT EQUIPMENT (E.G. DOZERS) $12.3

LOADERS $8.9

ROTARY DRILL $4.1

HEAP LEACH PAD PHASE II $5.7

SUB-TOTAL FLEXIBLE CAPITAL $50.5

The PEA Preproduction capital

includes several components thatcan be leased, replaced with

contract mining, or staged later in

the mine life

PEA Operating Costs:


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APPENDIX: THE ESPERANZA GOLD PROJECT

EXPLORATION TARGETS

10 Target Areas Warrant Further

Exploration:

4 target areas adjacent to the known

resource (DRILL READY)

Southwest Extension

Colotepec Northern Contact

NE Intrusive Contact

6 other target areas, in order of priority

(DRILL READY)

Coatetelco

Alpuyeca

Pluma Negra

Mercury Mines

La Vibora

Jasperoid de Toros

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DHE-12-74

25.5 meters containing 1.65 g/t Au

DHE-12-77

31.5 meters containing 2.8 g/t Au

DHE-12-81

45 meters containing 1.9 g/t Au

DHE-12-90

Two separate intervals, 27 meters

containing 1.1 g/t Au and another

interval with 121.5 meters containing

1.1 g/t Au

APPENDIX:

RESOURCEEXPANSIONPOTENTIAL

Mineralization remains open

in several directions

5000 meter program

expected for 2013 to pursue

the Southwest Extension

DHE-12-74DHE-12-77

DHE-12-81

DHE-12-90

32

Esperanza Gold

Project 2012Drill Hole

Location Map


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APPENDIX: ESPERANZA GOLD PROJECT PIT

33


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APPENDIX: ESPERANZA GOLD PROJECT PIT

34


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APPENDIX: LA BOLSA PFS HIGHLIGHTS: AUGUST 2010

OCTOBER 2009 RESOURCE (USED AS THE BASIS FOR THE PFS)TONNAGE

(000S)

GOLDGRADE(G/T)

SILVERGRADE(G/T)

GOLD(KOZS)

SILVER(KOZS)

P&P 15,631 0.63 9.0 316 4,502

M&I 21,470 0.62 9.0 427 6,232

INFERRED 13,663 0.51 7.6 222 3,343

Note: Totals may not sum to 100% due to rounding; M&I resources inclusive of P&P reserves

TWO-STAGES OF CRUSHING

LIFE OF MINE GOLD PRODUCTION (KOZS) BASED ON RESERVES ONLY 228

OPERATING COSTS (NET OF BY-PRODUCTS) ($/OZ AU) $510

INITIAL CAPITAL COST ($MM) $31

PRODUCTION RATE (KTPD) 8.5

GOLD RECOVERY 72%

SILVER RECOVERY 7%

OVERALL STRIP RATIO (WASTE:ORE) 1.9:1

PRE-TAX NPV 5% ($MM) - $1,200/OZ AU $91

PRE-TAX IRR (%) - $1,200/OZ AU 95%


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APPENDIX: NET ASSET VALUE MULTIPLES

0.0x

0.2x

0.4x

0.6x

0.8x

1.0x

UnfundedDevelopers

FundedDevelopers

JuniorProducers

IntermediateProducers

SeniorProducers

Price\

NetAssetValue

Industry wide value multiples have contracted over the last several years

Within peer groups, companies that trade at the highest multiples have:o Strong balance sheetso Low capital intensity growtho Political risk diversificationo Capable operators

The NAV of an asset when it is producing is higher because capex is sunk and positive cash flowsare sooner (less discounting) higher multiples then compound share price growth

0.1 0.2x

0.4 0.5x

0.5 0.7x

0.6 0.8x

0.7 1.0x

Average Net Asset Multiples By Peer Group

The biggest opportunity for multiple expansion is growing from an

unfunded developer to a financially strong producer

2012

2014

Source: National Bank Financial equity research

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SHAREPRICE

$0

DISCOVERY

SPECULATION

12 YEARS

DEVELOPMENT

INVESTMENT ANALYSIS

23 YEARS

PRODUCTION

REVALUATION

23 YEARS

HIGHER RISK:

Confirm Deposit

Reality Sets In

LOWER RISK:

Production Decision

Start Up

SOURCE: U.S. Global Research

37

APPENDIX: LIFE CYCLE OF A MINE


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38

TSX.V: EPZ

OTCQX: ESPZF

ADDITIONAL DISCLOSURES

William J. Pincus, M.Sc., C.P.G. and Chairman of Esperanza is the Qualified Person as that term is defined in NI 43-101 responsiblefor the contents of this presentation.

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

La Esperanza: William D. Bond, P.Geo, Dean D. Turner, P.Geo., Thomas Dyer, P.E., Doug K. Maxwell, P.E., Charlie Khoury, P.E., ErnestT. Shonts Jr., P.E. are the qualified persons (QP) under NI 43-101 who have prepared the resources and reserves estimates, andother technical information in respect of La Esperanza Project contained in this presentation. All of the QPs are independent of theCompany as defined under NI 43-101. For additional information with respect to the assumptions and parameters related to thetechnical information disclosed herein, refer to the technical reports entitled: (i) Preliminary Economic Assessment Update 2011Cerro Jumil Project, Morelos, Mexico dated September 2011 and Amended in January 2012, and (ii) "Cerro Jumil Project, 2012

Mineral Resources Estimate" dated October 26, 2012, which can be found under the Companys profile at www.sedar.com.

La Bolsa: For additional information with respect to the assumptions and parameters related to the technical information disclosedherein, refer to the technical report entitled Technical Report La Bolsa Project Pre-Feasibility Study dated January 10, 2011, whichcan be found under the profile of Minefinders Corporation Ltd. at www.sedar.com.

Calcatreu: For additional information with respect to the assumptions and parameters related to the technical information disclosedherein, refer to the technical report entitled Calcatreu Gold Project dated April 5, 2007, which can be found under the profile ofAquiline Resources Inc. at www.sedar.com.

Pico Machay: For additional information with respect to the assumptions and parameters related to the technical informationdisclosed herein, refer to the technical report entitled Independent Technical Report and Resource Estimate Pico Machay GoldDeposit Huancavelica Province Peru dated July 14, 2011, which can be found under the profile of Treasury Metals Incorporated atwww.sedar.com.


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NOTES:

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Documents

Tsx Esperanza Gold Usd69.4m 0712 2013