Golden Hope Mines Limited

Golden Hope Mines Limited

September 30, 2009 10:32 ET

Golden Hope Mines Ltd.: Bulk Sampling Program Underway on the Bellechasse (Timmins) Gold Deposit to Determine Average Grade


Golden Hope Mines Ltd. is pleased to announce that it has been working towards the completion of a large scale bulk sampling program on its wholly owned Bellechasse (Timmins) Gold Deposit. The Bellechasse (Timmins) Gold Deposit currently consists of the T1 zone, the T2 zone and the Ascot Zone.

The bulk sample program is currently underway and it is expected that the company will complete at least 5 trenches and process between 300 and 500 tons of rock. The objective of the bulk sampling program is to determine the average grade of the deposit at surface. The Bellechasse (Timmins) Deposit is a nuggety deposit therefore the diamond drill programs of the past were yielding values that we believe underestimate the true average grade.

In 2007, the company completed a large trench (38 meters) on the T1 zone and the results yielded an average grade of approximately 3.8 g/t, almost doubling the average grade of 2.0 g/t indicated by diamond drilling.

Through the current extensive bulk sampling program, Golden Hope Mines expects to process enough material to allow the company to determine a reliable average grade estimate across the currently known zones and therefore be in a position to prepare an inferred resource estimate.

In May, 2009, Golden Hope Mines released a progress report on its wholly owned Bellechasse (Timmins) Gold Deposit and the highlights of that report were as follows;

Timmins 1:
- Drilled to 300m depth
- Mineralization per vertical meter 4,000m2 to 9000m2.
Target volume: 23 million tonnes to 1000m depth

Timmins 2:
- Drilled to 225m depth
- Mineralization per vertical meter 2,965m2. Target volume:
8 million tonnes to 1000 meters depth

- Diamond Drill Core average grade of approximately 2g/tonne
- Bulk sample (trench) samples average of approximately
3.8g/tonne; almost doubling the diamond drill core grade

Simultaneous to the large scale bulk sampling program, Golden Hope Mines will also begin a large scale Geo Chemical Survey on the extensions of T1, T2, Ascot and the 88 Zone.

The trenches and Geo Chemical Survey sampling area can be viewed on our web sites home page at The updated presentation outlining our immediate and short term strategy has also been posted on the web site for viewing.

"After a very turbulent year in the financial markets and more importantly in the junior exploration market, we are pleased to be in a position where we can finally uncover the true value of this extraordinary Gold deposit. The company, its management and exploration team have always felt that the Bellechasse (Timmins) Gold Deposit had tremendous potential and we are excited about the near future prospects." states Frank Candido, President of Golden Hope Mines Ltd.

James Tilsley, P. Eng., has prepared and reviewed the technical content in this news release and is a qualified person (QP) for Golden Hope Mines in compliance with National Instrument 43-101.

About Golden Hope Mines Ltd.

Golden Hope Mines Limited 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 Quebec includes the Timmins 1, Timmins 2 and Ascot gold zones, the Coucou volcanic target and a number of recently claimed ultra basic/serpentine geological environments. For further information on Golden Hope Mines, please visit

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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. Factors could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, and 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 registered filings at

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