The sanctuary is situated in a cave carved into the rock 6 km away from the town of Calasparra. The first information about it dates from the17th century.
Two statues of Our Lady of Hope known as La Pequeñica (the Tiny One) and La Grande (the Big One) are kept in this sanctuary. According to the legend, the small statue was found by a shepherd who sheltered his cattle in this cave sculpted by the river Segura. The local people of the village tried to move the statue to the town of Calasparra but, due to its weight, they understood that the Virgin prefered to be venerated in this cave.
The reason why and the date when the bigger statue of La Virgen de la Esperanza appeared remain unknown. In the year 1786, they were already both venerated.