Golden Hope Mines Limited
TSX VENTURE : GNH
OTCQX : GOLHF

Golden Hope Mines Limited

December 21, 2010 11:34 ET

Golden Hope Mines Completes Its 2010 Diamond Drill Campaign

TORONTO, ONTARIO--(Marketwire - December 21, 2010) - Golden Hope Mines Limited (TSX VENTURE:GNH)(OTCQX:GOLHF) is pleased to announce that it has completed its 2010 diamond drill campaign on the Bellechasse Gold Belt in south eastern Quebec. On December 17th, the company completed 6 diamond drill holes for a total of 1,414 metres at Laval's Mountain, approximately 9.2 kilometres north of Bellechasse-Timmins and within the Bellechasse Belt.

During the 2010 exploration campaign, Golden Hope set out to test Geochemical anomalies along the Bellechasse Belt. The goal of the campaign was two-fold; to extend the gold bearing mineralized zones at the Bellechasse-Timmins gold deposit and to prove the existence of a new gold bearing mineralized belt in south eastern Quebec. The Company's management is pleased to report that both goals were achieved as work progressed at a pace that was above expectations.

The company successfully intersected a Gold bearing structure at Beland, 6.2 kilometres south of the Bellechasse-Timmins deposit. The 6 holes or approximately 1,400 metres at Laval's Mountain would extend the Gold bearing area by approximately 9.2 kilometres to the north. Another drill ready target approximately 6 kilometres to the North, Sugar Bush, is drill ready and will be explored further in the 2011 diamond drill campaign.

The 2010 diamond drill campaign consisted of a total of 66 holes or approximately 16,000 metres. The location of the holes is as follows:

Location Number of Holes Number of Meters
Bellechasse-Timmins 57 13,991
Beland 3 633
Laval's Mountain 6 1,414
Total 66 16,038

Of the 66 diamond drill holes, 16 holes had visible gold and 55 holes had confirmed mineralization. At the Snow White zone, hosted within the 88 Diorite, a total of 20 holes were completed, 17 of which hit mineralization and 10 of which contained visible gold. There are currently a total of 37 holes for which results have not been reported on. The company expects to report the results of these holes when they are received and interpreted.

In addition to the diamond drill program, the company also completed a significant amount of area mapping at the Bellechasse Gold Belt. Approximately 180 square kilometres were mapped. Approximately 1,429 soil samples were sent to Activation Laboratories in Ancaster Ontario for Soil Gas Hydrocarbon analysis. Approximately 1,100 of those samples were in the direct vicinity of the Bellechasse-Timmins deposit. Please see the map link below or go to http://goldenhopemines.com/_resources/maps/timmins_geochem_dec_20_2010.pdf

The drill has been moved back to Bellechasse-Timmins in preparation for hole BD2010-150. The hole has been collared and the drill crew is expected to return on January 11, 2011.

Frank Candido, President of Golden Hope Mines states: "We would like to thank our sub-contractors and field team for making 2010 the most successful exploration campaign to date. With the funds raised on December 17th at an almost 60% premium over the previous day's closing price, Golden Hope is well poised to deliver the first ever gold resource estimate to south eastern Quebec. We look forward to resuming our diamond drill campaign on January 11th, 2011."

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 junior exploration company focused on growing shareholder value through the acquisition, exploration and development of potentially large-scale gold and base metal projects. The Company's main project consists of the Bellechasse gold belt in Southern Quebec, Canada. The property is located on a mineralized belt that is mostly owned by Golden Hope and which includes the Bellechasse-Timmins gold deposit. The Company aims to explore and develop this flagship project into a world-class gold asset in an under explored region of one of the friendliest mining jurisdictions with excellent access to low cost infrastructure. 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 press release, other than statements of historical facts, that address future events, 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 included in the release, please visit the following link: http://media3.marketwire.com/docs/timmins.pdf

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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