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

Golden Hope Mines Limited

October 16, 2006 07:00 ET

Golden Hope Mines-Warrants Exercised

TORONTO, ONTARIO--(CCNMatthews - Oct. 16, 2006) - Golden Hope Mines Limited (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) has issued 80,000 common shares upon the exercise of previously issued warrants. The shares are subject to a hold period expiring February 12, 2007. The $16,000.00 proceeds will be added to the Company's working capital.

Subsequent to this exercise, there are a total of 35,564,604 common shares issued and outstanding.

ON BEHALF OF THE BOARD

Debra Chapman, Assistant Corporate Secretary

S.E.C. Exemption: 12(g)3-2(b)

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

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