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

Golden Hope Mines Limited

December 01, 2010 14:00 ET

Golden Hope Announces Drill Update

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2010) - Golden Hope (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to announce its latest exploration drill update on the Bellechasse-Timmins Gold deposit in south eastern Quebec.

  • 2010 Drill Campaign to date: 59 holes - 14,345 metres
  • Drill Results Outstanding: 30 holes - 9,092 metres
  • Proposed Drilling to year end: 7 holes – 1,570 metres
  • 6 of 7 holes proposed for Laval's Mountain Target, 9.2km north

The company's 2010 diamond drill campaign at Bellechasse-Timmins began on April 13, 2010. As of Monday, November 30, the company has completed 59 holes for 14,345.6 meters of drilling.

The company is currently drilling BD2010-149. 56 holes have been drilled in the immediate area of the Bellechasse-Timmins deposit, which include holes BD2010-93 through BD2010-148.

The company has yet to report assay results for 30 of the 59 holes drilled in the immediate area of the Bellechasse-Timmins Gold deposit. These results will be reported as soon as the geological team receives, compiles and interprets the results.

Mineralization at the Bellechasse-Timmins Deposit has been followed for 825 metres along strike and 650 metres across strike, and is open both to the northeast and to the southwest, as well as to depth.

3 holes, BB2010-01 to BB2010-03, were drilled at the Beland 2009 Anomaly, approximately 6.2 km south of the Bellechasse-Timmins Deposit.

Of the 7 holes currently proposed to year end, 6 holes or about 1320 metres are planned at Laval's Mountain, a target which lies approximately 9.2 km to the northeast of Bellechasse-Timmins.

These proposed drill holes would further test the hypothesis that Bellechasse-Timmins style mineralization may exist elsewhere within the Bellechasse Belt claims in Southeastern Quebec. The company is highly encouraged by the results to date and will continue to investigate selected areas within the Bellechasse Belt for evidence of similar auriferous quartz-filled breccias and veins.

A map of the drill holes has been is available on the company's web site at www.goldenhopemines.com.

James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope in compliance with National Instrument 43-101 and has reviewed the technical contents of this release.

About Golden Hope Mines Limited:

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 the Bellechasse/Beauce Region of Quebec, Canada. The Bellechasse gold project in 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 press 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, the size and use of proceeds of the Offering 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 www.sedar.com.

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/1201gnhFig1.pdf.

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