Golden Hope Announces Drill Results From the Winter Drill Campaign Including 1.40 g/t Au over 25m and 1.14 g/t Au over 22m.

GNH: TSX Venture
GOLHF: OTCQX

VANCOUVER, May 18 /PRNewswire/ - Golden Hope Mines (TSXV: GNH) (OTCQX:GOLHF) is pleased to report assay results from its 2011 winter gold exploration campaign on the Bellechasse gold belt in south eastern Quebec.

From November 16, 2010 to February 8, 2011 Golden Hope Mines Limited completed 11 holes totaling 3454.5 meters to further evaluate the Ascot / Road, T1 and T2 zones.

Significant intersections include;

• 1.40 g/t Au over 25.0 metres in hole BD2011-154 (T2A Zone)
• 1.14 g/t Au over 22.0 metres in hole BD2011-156 (T1 NE Extension Zone)

These holes and results have provided the company with very important additional technical information indicating;

• The possible significant northeast extension of the T1 Zone, currently the company's largest mineralized zone, potentially significantly expanding the tonnage of the T1 Zone.
• Mineralization shows continuity to depths of approximately 300 metres on T2A; approximately 280 metres on T2B; and approximately 360 metres on the possible northeast extension of the T1 Zone.
• T2A Zone mineralization is confirmed along strike for approximately 400 metres; true thickness ranges from 0.3m to 14.7 metres and averages approximately 4 metres.
• T2B Zone shows mineralized true thickness from 0.47 metres to 15.5 metres for an average true width of approximately 4 metres.
• All three zones remain open on strike to the northeast, to the southwest, and to depth.

"The drill results continue to extend the known mineralized zones both on strike and to depth, therefore contributing significantly to the tonnage potential of the deposit. We will look to further define these known zones while simultaneously expanding upon them through exploration drilling as they remain open on strike to the northeast, southwest and to depth." stated Frank Candido, President, Golden Hope Mines Limited.

The company continues to be encouraged by the results of diamond drilling while bearing in mind that the primary distribution of gold in these quartz-filled breccias and the small size of samples possible (about 2kg/m of core) contribute strongly to assay distributions which are not reliable estimators of the true concentration of gold.  Our experience to date suggests a serious underestimation of the average grade by sampling diamond drill cores as compared to results from large (5 to 10 tonnes) samples of the breccias taken from surface exposures.

Combined Historical Diamond Drill Data

The company calculated the simple average of 3292 assays of diamond drill cores from the T1 Zone, most of which were from the upper 75 to 100 metres of the breccia. The simple average is 0.99 g/t Au, while the 5 -10 tonne samples, depending on the limits used, indicate an average of 2.5 to 2.8 g/t Au for the surface exposure of the breccia. Many of these core samples were taken during past exploration programs (pre 2007).  Core size, preparation for assay and assaying procedures varied from one program to the other and may have influenced this average.

272 diamond drill core samples from within the T2A Zone returned a simple average of 1.85 g/t Au while 217 diamond drill core samples from within the T2B Zone returned a simple average of 1.45 g/t Au. Most of these core samples were taken by the current technical team, are generally of equal length, were subjected to total pulp metallic assaying treatment and, although too small for the primary distribution of metal, provide a more consistent database.

Winter 2011 Diamond Drill Data

Near the bottoms of holes BD2011-152, 155 and 156, approximately 350 to 380 metres below surface, a zone of quartz veining in diorite with visible gold was intersected along strike from the T1 Zone. The zone ranged from a thickness of 0.47 metres in hole BD2011-152 (visible gold which assayed <0.07 g/t Au) to a maximum thickness of 10.34 metres in hole BD2011-156 which assayed 1.14 g/t Au over a core length of 22.0 metres. The company believes that this could be a significant extension to the T1 Zone, currently the largest tonnage zone.

The T2A Zone was intersected in holes BD2010-146, BD2011-152, 153, 154, and 156 with estimated true thickness ranging from 0.47 metres to a maximum of 11.75 metres in hole BD2011-154 which assayed 1.40 g/t Au over a core length of 25.0 metres).

The T2B Zone was intersected in holes BD2010-146, BD2011-152, 153, 154, 155 and 156 with estimated true thickness ranging from 0.47 metres to a maximum of 9.10 metres in hole BD2010-146 which assayed 0.42 g/t Au over a core length of 16.0 metres.

Holes BD2010-146 through 148 and holes BD2011-152 through 156 were completed to intersect the mineralized T2A and T2B zones at depth and to test for a northeasterly extension of the T1 Zone. Holes BD2010-146, 147 and 148 were drilled to test for the northeastern extension of the T2 zones.

Holes BD2011-152 to 156 were completed to test the down dip extension of the T2A and T2B zones. Visible gold was observed in holes BD2010-146, BD2011-152, 153, 154, 155 and 156 with multiple occurrences in holes BD2011-152, 153 and 154.

Holes BD2010-149, 150 and BD2011-151 were completed to test the down dip and southwesterly extension of the Ascot/Road Zone. Approximately 25.0 metres down dip from the mineralization in hole BD2010-98, hole BD2010-149 intersected the Ascot/Road (0.40 g/t Au over a core length of 20.0 metres - estimated thickness of 11.4 metres). Holes BD2010-150 and BD2011-151 did not intersect the zone.

In December 2010, Golden Hope Mines Limited also completed 6 wild cat exploration holes totaling 1414.0 meters to test the Laval's Mountain geochemical anomaly.

The diamond drill holes intersected a thick sequence of dark grey shales, siltstones, sandstones and local conglomerates that are interpreted to be the Beauceville Formation that were intruded by dioritic rocks. A total of 1002 samples were sent to Activation Laboratories to be analyzed for Au and a multi element scan for 48 other elements.

Anomalous Au (to 38 ppb) and Zn (to 627 ppm) were intersected in the Beauceville formation rocks. The areas with anomalous Au and Zn generally appear to correlate with the SGH anomalies locations but it is unclear at this time whether these low values for Au and Zn are the cause of the anomalies or whether there is more significant mineralization at depth.

The company will continue to explore the area around Laval's mountain as well as a number of other established targets along the Bellechasse Belt. To date the company has been focused on the main mineralized area around Bellechasse-Timmins while it has already identified another mineralized area 6.2 kilometres to the south known as the Beland Zone. It is the company's belief that the Bellechasse Belt may host a number of mineralized zones similar to Bellechasse-Timmins within the approximately 18 kilometres of claims that the company currently holds in the Bellechasse Belt.

A table with the complete results and cross sections as well as a table of the simple and length weighted averages of the diamond drill core is posted on the company web site at http://www.goldenhopemines.com/exploration/bellechase_timmins_gold/results/ or a copy of the tables and or cross sections may be obtained by contacting the company at 514-750-8128.

The company uses Activation Laboratories Limited in Ancaster Ontario for all assays. Actlabs is accredited to the international standard of ISO 17025 for gold analysis. All of the drill core samples sent to the Actlabs undergo initial Fire Assay treatment. Due to the presence of visible gold, any initial results over a selected threshold Au are re-assayed using total pulp metallic treatment. The Golden Hope procedure requires crushing, pulverizing and sieving the entire sample of approximately two kilograms. This company protocol can lead to delays in both receiving and reporting assay results.

James E. Tilsley, P.Eng. is acting as the qualified person (QP) for Golden Hope Mines in compliance with National Instrument 43-101 and has reviewed the technical contents of this release. Mr. Tilsley is a consultant to Golden Hope Mines.

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 T1, T2 and Ascot/Road gold zones, the eight known parallel gold-bearing breccias of the adjoining 88 Diorite, and 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.

Golden Hope Mines Limited
Frank Candido
President, Director
514-750-8218
416-864-0175 (FAX)
[email protected] or [email protected]
www.goldenhopemines.com
or
Public Relations Canada:
Paradox Public Relations
Corporate Communications
1-866-460-0408
or
Investor Relations USA:
American Capital Ventures
Richard Hull
305-918-7000

SOURCE Golden Hope Mines Limited