Golden Hope Mines Limited
TSX VENTURE : GNH
OTCQX : GOLHF

Golden Hope Mines Limited

January 27, 2011 09:44 ET

Golden Hope Mines Completes a 1700 Tonne Bulk Sample at Bellechasse-Timmins

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2011) - Golden Hope Mines Limited (TSX VENTURE:GNH)(OTCQX:GOLHF) is pleased to announce that it has completed the 1700 tonne Bulk Sample Program at its Bellechasse-Timmins Gold Deposit in Southeastern Quebec announced on October 21, 2010.

The trenching and crushing at the property was completed prior to the holiday break in 2010. The processing and sampling was completed on Tuesday, January 25.

The current program was carried out on three different zones including Timmins 1 (T1), the Ascot/Road, and the 88 zones. A total of 280 metres of trenching was completed in 16 individual trenches. 5 trenches totaling 84.0 metres were completed on the T1 Zone, 2 trenches (18.0 metres) completed on the Ascot / Road Zone and 9 trenches (178 metres) were completed on the 88 Zone. Drilling and blasting services were provided by Forages La Chaudiere Inc. of St-Georges, Quebec. Crushing equipment was supplied and operated by a local contractor, M. Paul Labrie of St-Magloire, Quebec.

The 2009/2010 720 tonne bulk-sample at the Timmins 1 (T1) zone resulted in a 3 g/t average grade which was considerably higher than the approximate 2 g/t average grade results indicated by assaying diamond drill cores from immediately below the trenches. The company believes that this is characteristic of the mineralized zones at Bellechasse-Timmins as well as elsewhere in the Bellechasse Belt.

A total of 1586 individual samples were processed and sent to Activation Laboratories in Ancaster, Ontario for total pulp metallic gold assaying.

"We are very pleased with the speed and efficiency by which we carried out this large bulk sample program. The experienced gained by our technical team in 2009/2010 during the previous program helped us in determining where we could improve both the execution and quality of the sampling. We are most excited about the pending results as we drive towards delineating a world class gold deposit in southeastern Quebec" stated Frank Candido, President, Golden Hope Mines Limited.

In addition, selected samples from the 2009/2010 program were re-crushed at a finer screen size and sub-samples sent for assaying. These samples include R09D1-1, R09D1-2, R09B-1, R09B-2, R09B-3, R09B-4, R09C-2, R09C-3, R09C-4 and R09C-5.

A map of the location of the trenches can be viewed on the company's web site at http://goldenhopemines.com/exploration/bellechase_timmins_gold/maps/. The company will release the assay results of the bulk-sampling program as soon as they become available.

James E. Tilsley 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 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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