Golden Hope Mines Limited
TSX VENTURE : GNH
PINK SHEETS : GOLHF

Golden Hope Mines Limited

June 23, 2010 08:30 ET

Golden Hope Mines Intersects Quartz Bearing Structures at Beland

TORONTO, ONTARIO--(Marketwire - June 23, 2010) - Golden Hope Mines Limited (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to report that diamond drilling on the Beland 2009 soil gas hydrocarbon anomaly intersected quartz-bearing structures. The larger zone shows quartz with pink feldspar, minor galena and chalcopyrite from 189m to 223.5m with fine visible gold observed at 193.7m in drill hole BB2010-02. The estimated true thickness of this mineralized intersection is 9.1m.

The same zone was intersected in diamond drill hole BB2010-03 from 18.6m to 41.0m (6.2m true thickness) and has the same character as the intersection in BB2010-02.

A parallel zone of quartz veining lies in the hanging wall about 20m above the first. It appears to be slightly more than 2m true thickness. Sampling of these quartz-bearing intersections is in progress.

The Beland Anomaly lies within the Bellechasse Belt at approximately 6.2 kilometres to the southwest of the company's Bellechasse-Timmins deposit.

"The occurrence of visible gold in drill core from the Beland 2009 geochemical anomaly is very encouraging. We continue to gather evidence that gold mineralization occurs at many locations within the Bellechasse portion of the company's extensive claim position in the Bellechasse-Beauce area of south-eastern Quebec" commented Frank Candido, President, Golden Hope Mines Limited.

Geochemical surveys and other information indicate gold targets from Laval's Mountain in the northeast, to several kilometres southwest of the Beland 2009 Anomaly, a distance of almost 20 kilometres.

The Company's 2010 diamond drilling program in the Bellechasse area began on April 13th. Approximately 6000 metres of core have been recovered and assay results are pending. The company is taking advantage of a three-week vacation period for the drill crews to assess data gathered to date. Drilling is expected to resume about mid-July and will include testing of other targets along the Bellechasse Belt.

On February 19, 2010, the company announced the signing a letter of intent (the "LOI") to acquire from a prospector (the "Prospector") a 100% stake in certain mining claims ("the Property") located in the Bellechasse-Beauce Region of Southeastern Quebec. These claims fall within the Bellechasse-Timmins Belt and begin approximately 7 kilometers southwest of the Company's Bellechasse-Timmins deposit.

The company has now entered into a property acquisition agreement ("the Agreement") to acquire from the Prospector a 100% interest in the Property upon confirmation that the claims have been officially granted to the Prospector by the Ministere des Resources Naturelles et de la Faune. Under the terms of the agreement, the Prospector will receive an amount of $2,500 and 125,000 treasury common shares and will retain a 2% net smelter return royalty, which can be bought back by Golden Hope Mines at any time, and at its sole discretion, for the sum of $1,000,000. The transaction is subject to, among other things, the approval of the TSX Venture Exchange. The securities issued under the Agreement will be subject to a four (4) month hold period.

About Golden Hope Mines Limited:

Golden Hope is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of potentially large-scale gold and base metal projects suitable for underground and/or open-pit mining. The company's focus is in Quebec, Canada. The Bellechasse gold project in Southeastern Quebec includes the Timmins 1, Timmins 2 and Ascot gold zones, the new FSG volcanic environment targets and a number of recently claimed ultra basic/serpentine bodies. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.

Forward-Looking Information:

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Various factors could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the company, investors should review Golden Hope's registered filings at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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