Golden Hope Mines Limited

Golden Hope Mines Limited

February 18, 2009 10:16 ET

Golden Hope Mines Limited: Corporate Update-Board of Directors

TORONTO, ONTARIO--(Marketwire - Feb. 18, 2009) - Golden Hope Mines Ltd. (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to announce the appointment of William C. Needham to its Board of Directors, effective immediately.

Mr. Needham is Managing Director of ALCO, LLC, a corporate advisor to several developing companies. Over the years, Mr. Needham has served as an independent director to a number of public and private companies. He has served on both audit and compensation committees.

Mr. Needham spent 12 years at the investment-banking firm of Oppenheimer & Co., where he held numerous positions, including directing functions of the back office, the syndicate department, and as a registered broker, managing accounts of institutional and high-net-worth individuals and as a specialist in the firm's corporate leveraged buy-out business.

Mr. Needham holds a BA degree from Wesleyan University, Middletown, Connecticut. Under an AIESEC Fellowship in international banking, he worked in England and Norway with Privatbanken A/S.

"We welcome Bill to our Board and look forward to working with him to grow the company," said Louis Hoel, President of Golden Hope. "Bill will take an active role in the company by introducing Golden Hope Mines to his wide network on Wall Street and throughout the world. Bill's experience is essential in helping to introduce our outstanding exploration projects to the investment community in the United States. The renewed interest in Gold bullion will naturally bring increased attention to the junior exploration sector. We are a proactive company and as such believe that the breadth of the investment community in the US will be a great asset to our company as we explore the multiple targets developed in the past two years."

The Board has granted incentive stock options to Mr. Needham to purchase 525,000 common shares of Golden Hope at a price of $0.12 per share for a period of three years ending February 17, 2012.

Mr. Needham replaces Andre Douchane, who has stepped down from the board. Mr. Douchane has notified the president of Golden Hope Mines that he can no longer serve as a Director of the company due to his increased responsibilities and commitments with the other companies and boards that he serves on. The Board thanks Mr. Douchane for his valuable service and wishes him success in his future endeavors. Mr. Douchane will remain available to advise the Company's management team and Board of Directors.

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, silver and base metal projects suitable for underground and/or open-pit mining. The company's two areas of interest are located in Quebec, Canada and Maine, U.S.A. The Bellechasse gold project in Quebec includes the Timmins and Ascot gold zones, the Coucou volcanic target and a number of newly claimed serpentinite geological formations. For further information on Golden Hope, visit

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. Factors that 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 registered filings at

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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