Golden Hope Mines Limited

Golden Hope Mines Limited

March 12, 2009 09:01 ET

Golden Hope Mines Limited-Exploration and Development Plan: 2009

TORONTO, ONTARIO--(Marketwire - March 12, 2009) - Golden Hope Mines Ltd. (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to present an update to its shareholders.

In the past two years much has been achieved in defining and expanding the promising Timmins gold prospects and identifying the geological environments in which that style of mineralization may be repeated elsewhere within the Company's property in the Bellechasse belt of southeastern Quebec. The relation between the placer gold deposits of the Chaudiere River and tributaries with ultrabasic rocks is under investigation in the course of exploring these intrusives for base and precious metals.

Bellechasse Belt: (between Baie Verte and Brompton faults)

Timmins Gold Deposit Highlights:

2006: Large diameter down-hole hammer drilling yielded up to 12g/t Au; first results from the newly formed team.

2007: Diamond drilling and trenching on mineralization near the historic Timmins Zone identified a predicted Timmins 2 Zone. T2 is the structural twin of the original mineralized intrusive discovered in 1952. 40 metres of trench sampling was also completed on T1. Samples of approximately 80kgs for each metre of trench returned a continuous 3.8 g/t Au over 38m. These results confirm that with larger samples, grades increase substantially (almost 80% higher) when compared to the 2003 and 2004 diamond drill assays results.

Assays on T2 diamond drill core yields up to 7.5g/t Au over 6.45m.

2008: Extensive diamond drilling program on T2 intrusive identified two distinct mineralized zones. The interpretation of the data significantly increased the size of the T2 mineralized structures and has allowed a much better understanding of the Timmins style mineralization. Result highlights include 8m of 3.48g/t Au. A large trench/pit was blasted at the onset of winter and will be sampled in the spring of 2009. Large samples (200 to 300+ kg) will be crushed to 1/2 inch. Sub-samples will be taken to our warehouse for further crushing, splitting and 1kg samples sent for standard fire assays. Results will be published when available.

Compilation of 50 years of data shows higher grade mineralized zones in Timmins 1 and 2 that appear to have horizontal and vertical continuity. They also demonstrate excellent potential for these zones to extend horizontally outside of current explored areas and to depth. Additional core samples from the 2007 diamond drill program have been submitted to the laboratory for standard fire assays. Results will be released when available.

Extensive structural mapping of the Bellechasse belt has defined criteria to identify Timmins type mineralized zones. Three potential Timmins type intrusives have been identified in the Bellechasse belt by mapping and the completion of our 2008 structural interpretation. The limits of one target anomaly have been defined by a geochemical survey that rated the potential for gold mineralization at 4.5 out of 6. The two other target areas will be tested in a similar fashion in 2009.

Partnership: In 2009 Golden Hope Mines is looking for a partner for its exploration work on the Bellechasse belt. This will allow our team to focus on exploring the potential of the ultrabasic/serpentinite intrusives. The company used the PDAC (Prospector and Developer Association of Canada) convention in Toronto to meet with prospective parties that may be interested in such a joint venture. Our project was well received and discussions are ongoing.

Ultrabasic intrusives (serpentinites):

Fall 2007: Golden Hope stakes approximately 600 claims on a series of ultrabasic intrusives adjacent and along strike from the Bellechasse belt. Objective: explore these for classic Cu, Co, Ni, PGM and secondary Au combination deposits. Gold derived from the Ultrabasics could be the source of the well known Beauce Placer deposits. These alluvial deposits were mined from the early 1800's into 1950's.

2008: Acquired Chute de Bras claims and Riviere des Plante. Mapping and sampling of the smaller ultramafic intrusives and Chute de Bras was completed with over 800 rock samples taken. A portion of the Chute de Bras prospect was mapped in detail.

Two diamond drill holes were completed on Riviere des Plante. One DDH tested a ground IP anomaly identified by the previous exploration program completed by Messers Venditelli and Gartner. The second drill hole confirmed an area of significant silicification reported in diamond drill logs dating from the 1950s. These drill holes did not contain economic mineralization. The core intersected several previously undocumented geological environments that can potentially host gold.

2009 program:

Mapping, bedrock and geochemical sampling will be completed over interesting sections of the ultrabasics intrusions to identify drilling targets.

Riviere des Plante:

The 2009 program will start in April and include mapping, geochemical surveying and/or drilling on as yet to be defined targets. Expectations are for targets of primary Ni - Cu - Pt - Pd mineralization with associated Au.

Chute du Bras:

A more complete mapping of the very large Chute de Bras ultrabasic will start in the spring. The usual rock and geochemical sampling will take place as well as a diamond drilling program on confirmed targets.

A few of the ultrabasic intrusives sampled in 2008 (Ste Lucie) will be revisited with a better understanding of the regional setting allowing for more focused investigation.

Coucou: VMS type target

This large base metal sulphide target (3.5 km long) was investigated by 8 diamond drill holes in late 2007. Assay results were not encouraging. Nevertheless, a 2008 regional geophysical study identified a more favorable area close to the area drilled as being highly prospective. This geophysical target area will be covered by geochemical soil surveys. If targets are defined, they will be tested by diamond drilling.

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 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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