Golden Hope Mines Completes Winter Drilling and Releases Further Drill Results from the 88 Zone

TORONTO, March 10 /PRNewswire/ - Golden Hope Mines Limited (TSX VENTURE:GNH)(OTCQX:GOLHF) is pleased to announce that it has completed its 2011 winter diamond drill campaign on the Bellechasse-Timmins gold deposit on the Bellechasse Belt of Southeastern Quebec.

Between November 22, 2010 and February 8, 2011, the company completed 3,455 metres of drilling in 11 holes. The programme tested the on-strike and down-dip extensions of the T1 Zone, the Ascot/Road Zone, and T2 zones.

All drill holes intersected the highly prospective quartz veined diorite. Visible gold was observed in holes BD2010-146, BD2011-152, 153, 154, 155 and 156. Visible gold was also observed in multiple locations in holes BD2011-152, 153 and 154.

The visible gold occurrences are shown on the up-dated preliminary drill compilation map which can be viewed on the companys web site at www.goldenhopemines.com/exploration/bellechase_timmins_gold/maps/. A more detailed interpretation awaits receipt of assays. These holes are logged and sampled and 2451 samples sent for assay.

Golden Hope is also pleased to report further assay results from its 2010 gold exploration campaign at the Bellechasse-Timmins gold deposit in southeastern Quebec. The results reported are from nine holes drilled in the area of the 88 diorite.

Assay results have been received and the preliminary compilation of data completed for BD2010-120, 122, 123, 126, 127, 128, 129, 134, and 138. The results are summarized below.

As reported on February 15, 2011, approximately 55% of the holes completed in the 88 Diorite show visible gold in the core. This suggests that the primary gold distribution is similar to that of the T1 Zone. The bulk sampling programs of 2009/10 and 2010/11 have both demonstrated that there is a significant increase in grade through larger samples.

"We are very encouraged by the preliminary drill results from the winter drill campaign. We are especially encouraged by the continued occurrence of visible gold in the core as it provides us with initial evidence of the potential expansion of some of the known zones including T1 and T2 at Bellechasse-Timmins.

We are also very pleased with the drill results from the 88 diorite. The bulk sample data from the 88 zones reported on March 4, 2011 provided us with further evidence of the potential of the 88 zones. Additional exploration drilling will provide the required data to further evaluate the currently known eight mineralized zones" states Frank Candido, President, Golden Hope Mines Limited.

Holes BD2010-122 and  BD2010-123 were drilled to the southwest of the 88 diorite to outline the limits of the intrusive. Hole BD2010-126 tested for the northwestern extension of the 88 diorite. BD2010-120 and BD2010-129 were drilled to test the northeastern extent of the 88 diorite.

Hole BD2010-126 (179.0 metres) was completed to test for the northwestern extension of the 88 diorite and intersected volcanoclastic rocks of the Etchemin Formation. The hole intersected a broad zone of brecciated siliceous volcanoclastics (possible fault) and returned low Au assay results.

Hole BD2010-120 intersected diorite with quartz veins over a core length of 57.5 metres from 15.6 to 73.1 metres. The highest assay value from within this zone of veining(the northeast extension of the 88G Zone) is 4.36 g/t Au over a core length of 1.0 metre from 49.0 to 50.0 metres (estimated true thickness of 0.58 metres).

Hole BD2010-129 intersected 32.05 metres of quartz veining in diorite from 116.55 to 148.6 metres southeast of the 88H Zone. An assay of is 1.72 g/t Au over a core length of 1.0 metres (estimated true thickness of 0.58 metres) was returned from 130.0 to 131.0 metres.

Holes BD2010-127 and 128 tested the northern portion of the 88 diorite. Hole BD2010-127 (434.0 metres) intersected quartz veined diorite between 73.6 to 434.0 metres with visible gold observed in the core at 385.7 metres. This hole intersected the northeastern extension of the 88A Zone (0.58 g/t Au over a core length of 21.0 metres between 212.0 and 233.0m (estimated true thickness of 9.58 metres). Within this intersection individual one-metre intervals assayed up to 3.85 g/t Au.

Hole BD2010-128 (245.0 metres) intersected quartz veined diorite between 52.45 and 138.45 metres and also from 190.55 to 195.6 metres, with visible gold observed in the core at 54.15 metres. The interval from 108.0 to 111.0 metres averaged 1.16 g/t Au over a core length of 3.0 metres (estimated true thickness of 1.21 metres). and appears to be from a previously unknown zone.

Samples taken from intervals with visible gold in holes BD2010-127 and 128 returned low assay results (<0.08 g/t Au).

Hole BD2010-134 (186.6 metres) tested the up dip projection of the quartz veining that hosted visible gold in hole BD2010-127 and shows quartz veined diorite between 110.17 and 161.93 metres. Anomalous Au assay results up to 1.33 g/t Au over a core length of 2.0 metres (estimated true thickness of 1.15 metres) from 128.0 to 130.0 metres were returned from the sampling.

Hole BD2010-138 (253.0 metres) tested the Soil Gas Hydrocarbon geochemical anomaly located north of the Ascot/Road Zone. This hole intersected 98.75 metres of quartz veined diorite but returned no significant assays.

This drilling has extended the 88A Zone and the 88G Zone to the northeast, and has identified two potential gold mineralized zones, one corresponding to the intersection in BD2010-129 and the second corresponding to the visible gold in BD2010-127 and anomalous gold in hole BD2010-134.  Additional drilling is required to evaluate these new zones.

The company has posted a complete table of the drill results as well as cross sections from the drill holes on its web site at http://goldenhopemines.com/exploration/bellechase_timmins_gold/results/.

A copy of the map and table may also be obtained by contacting Sasha Asgary of Golden Hope Mines at 514-750-8218.

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 in compliance with National Instrument 43-101 and has reviewed the technical contents of this release.

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 Timmins 1, Timmins 2 and Ascot gold zones, 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

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Public Relations Canada:
Paradox Public Relations
Corporate Communications
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Investor Relations USA:
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Richard Hull
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SOURCE Golden Hope Mines Limited