Golden Hope Repeats Long Intercept in Wedge Holes with 1.27 g/t Au Over 57 Metres and 0.75 g/t Au Over 56 Metres at Bellechasse-Timmins, Quebec

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MONTREAL, March 5, 2012 /CNW/ - Golden Hope Mines (TSX VENTURE: GNH)(Pink Sheets: GOLHF) - Golden Hope Mines Limited is pleased to announce further significant results from its 2011 drill campaign in southeastern, Quebec. The company received results from the wedge holes BD2011-167a and BD2011-167b.

The two wedges repeat the 53m long intersection of 0.63 g/t Au found in previously announced hole BD2011-167 with a 56m long interval of 0.75 g/t Au in BD2011-167a and a 57m long interval of 1.27 g/t Au in BD2011-167b.  At its bottom extremity, the wedge also confirms the previously encountered mineralization found in BD2011-167 as BD2011-167a intersected 5m of 2.59 g/t Au including 1m of 12.40 g/t Au. The horizontal extent of this zone is still under investigation with more drilling planned in the immediate vicinity.

Result highlights from the wedge holes are presented in tables below.

Hole Number	From	To	Length	Au (g/t)	Hole Number	From	To	Length	Au (g/t)
BD2011-167a	282	338	56	0.75	BD2011-167 *	282	335	53	0.63
Including	282	299	17	1.57	Including	282	297	15	1.50
Including	325	338	13	1.02	Including	329	335	6	1.25
BD2011-167a	375	380	5	2.59	BD2011-167 *	374	380	6	1024.00
Including	378	379	1	12.40	Including	374	375	1	1.87
					Including	375	376	1	6140.00
					Including	376	380	4	0.59

Hole Number	From	To	Length	Au (g/t)	Hole Number	From	To	Length	Au (g/t)
BD2011-167b	275	332	57	1.27	BD2011-167 *	282	335	53	0.63
Including	275	305	30	1.57	Including	282	297	15	1.50
Including	314	332	18	1.34	Including	329	335	6	1.25
					BD2011-167 *	374	380	6	1024.00
					Including	374	375	1	1.87
					Including	375	376	1	6140.00
					Including	376	380	4	0.59

Table 1: Comparison of wedges

* The results for drill hole BD2011-167 were disclosed in a January 26 ,2012 press release and have been included for comparison purposes only. The lengths are core lengths and the assays are uncut. A copy of the press release can be obtained on the companies web site at (http://www.goldenhopemines.com/_resources/news_releases/nr_2012_01_26.pdf).

"The wedges confirm the presence of the mineralized zone of gold and in particular repeat the previous announced results from hole 167. We are pleased with the amount of important information that we continue to accumulate as we move closer to our initial goal of a resource estimate at Bellechasse-Timmins" states Frank Candido, President, Golden Hope Mines Limited.

Samples were prepared and analyzed at SGS Minerals Services of Toronto, Ontario (Don Mills laboratory). Analysis for gold was done on one half of core samples following FAI525 fire assay routine. SGS introduced standards and blanks in the sequence.

Claude Duplessis, Eng and Claude Bisaillon, Eng. are qualified persons (QP) in compliance with National Instrument 43-101 and have reviewed the technical contents of this press release.

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.

Forward-Looking Information

This news release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this news release contains forward-looking statements regarding the drill results being incremental to current potential. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Golden Hope's ability to predict or control and may cause Golden Hope's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Golden Hope undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

About Golden Hope Mines Limited:

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 and base metal projects suitable for underground and/or open-pit mining. The company's focus is in southeastern Quebec, Canada. The company's claim blocks lie within an area that extends approximately 100 kilometres along the Appalachians of southern Quebec from near Ste-Lucie-de-Beauregard to about 16 kilometres southwest of Beauceville. The Bellechasse-Timmins gold deposit lies 5 kilometres southeast of St-Magloire within the Bellechasse Belt an approximately 18 kilometre long mineralized area. The Bellechasse-Timmins gold deposit includes the T1, T2A, T2B, Ascot/Road gold zones, and the 88 Diorite. The company is also looking to develop the Champagne zone, a partially explored base metal and gold deposit that lies within the Company's Bellechasse Belt claims. A recently completed VTEM survey may identify other similar targets along the horizon. The company is also working to develop other targets within its claim blocks including the FSG gold and base metal target, Chute du Bras, the LG showing, Moose Cliff, and Talon.For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.

 

 

Golden Hope Mines Limited

Frank Candido
: President, Director

514-750-8218

416-864-0175 (FAX)
[email protected]
[email protected]

www.goldenhopemines.com


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