A CLEAR PATH TO GOLD

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 Company’s 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 Company’s 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 management’s 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 set

forth 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

STRONG MANAGEMENT TEAM Proven mine builders, led by former Minefinders executive and operating team.

ESPERANZA GOLD PROJECT Accelerating to production and positive cash flow.

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

LONG-TERM OBJECTIVE Building a multi-mine precious metals producer.

HIGHLIGHTS

3

THE NEW TEAM

MANAGEMENT

GREG D. SMITH

President & CEO

Former CFO Minefinders, Chartered Accountant

DANIEL O’FLAHERTY

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.

4

THE ESPERANZA GOLD PROJECT • 100% ownership

• 15,025 hectares

• Gold oxide deposit

Planned conventional open-pit heap-leach operation with short construction lead-time & manageable capital requirements Updated PEA completed in September 2011

5

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

Landfill

Calabazas Hilltop

Leach Pad Fields

Power Lines

Cerro Jumil

ESPERANZA GOLD PROJECT PIT & EXPLORATION UPSIDE

7

Southwest Extension

PEA HIGHLIGHTS: SEPTEMBER 2011

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

TONNAGE (000’S)

GOLD GRADE (G/T)

SILVER GRADE (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)

8

VALUE CONSIDERATIONS As 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,

100

$1,

150

$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

INT

ER

NA

L R

AT

E O

F R

ET

UR

N (

%)

AF

TE

R-T

AX

NE

T P

RE

SE

NT

VA

LU

E (

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

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

SIL

VE

R R

ES

OU

RC

ES

(MO

Z)

GO

LD

RE

SO

UR

CE

S (

KO

Z)

10

SEPTEMBER 2012 RESOURCE

10

September 2010 Resource Gold Silver

September 2012 Resource Gold Silver

M&I Resources Inferred Resources

SEPTEMBER 2012 RESOURCE STATEMENT (63,500 METERS OF DRILLING)

TONNAGE (000’S)

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&I FROM 2010

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

6 year mine life

CAPITAL COST ESTIMATE New management to review and optimize capital costs from PEA PEA Operating Costs: <$500/oz +3% NSR TOTAL PEA CAPITAL $114 million + $15 million working capital

$15 million Crusher

$6 million Heap Leach Phase II

$20 million Truck Fleet

$25 million Support Equipment

$65 million Infrastructure Leach Pad Mine Development Owner Costs Working Capital

Potential to pay for out of cash flow

Potential for contract mining

11

Currently under revision

Q1 2012 Q2 2012 Q3 2012 Q4 2012 2013–2015

ESPERANZA GOLD PROJECT MOVING FORWARD

INAH Completes Archaeological Review

Prepare Permit Application

Resource Update

Submit Permit Application

Expansion Drilling

Initiation of Feasibility Study

Addition of Experienced Operating Team

Completed $34M Equity Placement

Construction Surface Land Agreement

Obtain All Permits

Production

Feasibility Study

12

13

ESPERANZA RESOURCES & PAN AMERICAN SILVER

TRANSACTION ANNOUNCED FEBRUARY 25, 2013

TRANSACTION STRUCTURE

14

Esperanza’s Pro Forma Asset Profile Mineral 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 shares 10 million warrants

Private Placement into Esperanza

$35 million cash $15 million standby facility

20.6 million shares $1.70 / share

LA BOLSA OPEN PIT PROJECT

15

Avg. Annual Production 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 Gold 6.2 million oz Silver

Resources (Inferred)

222,000 oz Gold 3.3 million oz Silver

Source January 2011 PFS

Status Permitted Construction Ready

PICO MACHAY OPEN PIT PROJECT

16

Resources (M&I) 270,000 oz Gold

Resources (Inferred) 450,000 oz Gold

Source 2011 resource update (resource only)

Status Drill ready targets Further work required

CALCATREU OPEN PIT PROJECT

17

Avg. Annual Production ~90,000 oz Gold

Cash Costs US$226 / oz (2007)

Initial Mine Life 5+ years

Development Capital US$79 million (2007)

Resources (M&I)

676,000 oz Gold 6.6 million oz Silver

Resources (Inferred)

226,000 oz Gold 1.8 million oz Silver

Source 2007 feasibility 2008 resource update

Status Feasibility stage project Further work required

PRO FORMA ASSET PROFILE

18

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 Location Reserves 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

CORPORATE PROFILE

19

Potential Annual Gold Production (000 oz)

Note: production values based on 5-year averages; Pico Machay and Calcatreu based on internal estimates, further study required. La Bolsa IRR is pre-tax and Esperanza 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 operating

experience Strong Board with Pan American Silver

support

42

105

~150

La Bolsa Esperanza Pico Machay/Calcatreu

~300

95% IRR @ $1,200 Au

32% IRR @ $1,200 Au

147

20 20

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&

I R

ES

OU

RC

E G

OL

D G

RA

DE

(g

/t)

MEASURED & INDICATED GOLD RESOURCE (koz)

Open-Pit Heap Leach Mines / Projects in Mexico

Producing

Development

Size of bubble denotes est. annual production

La Bolsa

Source: Scotia Capital, Company Reports

Resource grades may not be diluted for mining

PEER BENCHMARKING

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

MA

RK

ET

CA

PIT

AL

IZA

TIO

N (

US

$M

M)

2013 ANNUAL GOLD PRODUCTION FORECAST (000 OZ)

PEER COMPARISON – PEER COMPARISON – RERATE POTENTIAL

21

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.

RE

RA

TE

P

OT

EN

TIA

L

PEER COMPARISON – COST METRICS

22

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 costs based on January 2012 and January 2011 technical reports, respectively, net of by products; Esperanza cash cost does not include 3% NSR royalty

$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

23

Break-Even Gold (US$/oz)

Spot Gold: US$1,400 /oz

Significant Margin

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

PAN AMERICAN SILVER

24

Market Capitalization $1.8B

30 Day Average Volume 2.6M

2012 Silver Production 25.1 Moz

# Producing Mines 7

Second largest primary silver producer in the World

Operating 7 mines in 4 countries

Reputation as strong mine builder and operator

Highly liquid with a diverse shareholder base

Committed to being a supportive EPZ shareholder

Ability to lend technical assistance through board positions

AN INDUSTRY LEADING PARTNER

PRO FORMA CAPITAL STRUCTURE

25

Shares Outstanding 150.3 million

Private Placement Price @ $1.70 / share

Warrants Outstanding 23.6 million

Cash From Warrant Exercise $36 million

Pro Forma Market Capitalization $110 million

Cash and Marketable Securities $69 million

Enterprise Value $40 million

Major Shareholders

Pan American 48%

Sprott 11%

Wexford 4%

Note: Capital Structure on a basic basis.

26

VALUE PROPOSITION

26

FULLY-FUNDED WITH

STRONG BALANCE

SHEET NEAR TERM PRODUCTION

EXPLORATION UPSIDE AT MULTIPLE

ASSETS

ENHANCED CAPITAL

MARKETS PROFILE

RISK DIVERSIFICATION

EXCEPTIONAL BOARD &

MANAGEMENT

STRONG CORE SHAREHOLDER

3 MILLION OZ GOLD (M&I)

29 MILLION OZ SILVER (M&I)

APPENDIX

APPENDIX: CORPORATE INFORMATION

ESPERANZA RESOURCES CORP.

TSX.V LISTING (SINCE AUGUST 2003) EPZ

OTCQX LISTING ESPZF

CURRENT PRICE (19-JUNE-13) C$0.67

HIGH – LOW (12 MONTH) C$0.60 — $1.70

AVERAGE DAILY VOLUME (3 MONTHS) 70,000

SHARES OUTSTANDING 79 M

MARKET CAP (ISSUED/OUTSTANDING) C$48 M

CASH C$34 M

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

WEBSITE www.epzresources.com

28

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 INFERRED 290 koz Au Reserves

7.2 Moz Ag Reserves Exploration Stage 14.3 Moz Ag

48.1 Mlbs Cu

13.5 Moz Ag

29.8 Mlbs Cu

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

29

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 that can be leased, replaced with contract mining, or staged later in the mine life

PEA Operating Costs: <$500/oz + 3% NSR

30

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

31

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: RESOURCE EXPANSION POTENTIAL

• Mineralization remains open in several directions

• 5000 meter program expected for 2013 to pursue the Southwest Extension

DHE-12-74

DHE-12-77

DHE-12-81

DHE-12-90

32

Esperanza Gold

Project 2012 Drill Hole

Location Map

APPENDIX: ESPERANZA GOLD PROJECT PIT

33

APPENDIX: ESPERANZA GOLD PROJECT PIT

34

35

APPENDIX: LA BOLSA PFS HIGHLIGHTS: AUGUST 2010

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

TONNAGE (000’S)

GOLD GRADE (G/T)

SILVER GRADE (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%

APPENDIX: NET ASSET VALUE MULTIPLES

0.0x

0.2x

0.4x

0.6x

0.8x

1.0x

Unfunded Developers

Funded Developers

Junior Producers

Intermediate Producers

Senior Producers

Pri

ce

\ N

et

Ass

et

Va

lue

• 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 sheets o Low capital intensity growth o Political risk diversification o Capable operators

• The NAV of an asset when it is producing is higher because capex is sunk and positive cash flows are 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

36

SH

AR

E P

RIC

E

$0

DISCOVERY

SPECULATION

1–2 YEARS

DEVELOPMENT

INVESTMENT ANALYSIS

2–3 YEARS

PRODUCTION

REVALUATION

2–3 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

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 responsible for 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., Ernest T. Shonts Jr., P.E. are the qualified persons (“QP”) under NI 43-101 who have prepared the resources and reserves estimates, and other technical information in respect of La Esperanza Project contained in this presentation. All of the QP’s are independent of the Company as defined under NI 43-101. For additional information with respect to the assumptions and parameters related to the technical information disclosed herein, refer to the technical reports entitled: (i) “Preliminary Economic Assessment Update 2011 Cerro 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 Company’s profile at www.sedar.com. La Bolsa: For additional information with respect to the assumptions and parameters related to the technical information disclosed herein, refer to the technical report entitled “Technical Report La Bolsa Project Pre-Feasibility Study” dated January 10, 2011, which can 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 disclosed herein, refer to the technical report entitled “Calcatreu Gold Project” dated April 5, 2007, which can be found under the profile of Aquiline Resources Inc. at www.sedar.com. Pico Machay: For additional information with respect to the assumptions and parameters related to the technical information disclosed herein, refer to the technical report entitled “Independent Technical Report and Resource Estimate Pico Machay Gold Deposit Huancavelica Province Peru” dated July 14, 2011, which can be found under the profile of Treasury Metals Incorporated at www.sedar.com.

NOTES:

39