TSX VENTURE: GNH
PINK SHEETS: GOLHF
MONTREAL, Aug. 17, 2012 /CNW/ - Golden Hope Mines Limited (TSX VENTURE: GNH) (Pink Sheets: GOLHF) - Golden Hope Mines is pleased to announce that it has acquired an
additional 56 claims or 2,231 hectares on the Northern extension of the
Bellechasse Belt in southeastern Quebec.
"Given the positive results of the work completed through 2011 and 2012
we are confident in the prospects of additional gold and base metal
targets in the region" states Frank Candido, President of Golden Home
Mines Limited. "We believe that the expansion of our land position by
the addition of these claims could result in further gold and base
metal discoveries on the belt which will complement the
Bellechasse-Timmins gold deposit and the Champagne polymetallic
volcanogenic massive sulphide ("VMS") deposit."
Of the 56 claims acquired, fifty are located in Talon Township, three
are located in Panet Township and three are located in Rolette
Township.
Golden Hope Mines currently holds a total of 459 claims totaling 18,990
hectares in southeastern Quebec.
The Company has also issued 2,100,000 options at an exercise
price $0.12 for a period of five years to Directors, Officers and
Consultants. Vesting will be 25% immediately and 25% every six months
on the anniversary date of this grant for a period of eighteen months.
The options are granted pursuant to the Company's stock option plan
approved by shareholders at the annual meeting on June 18, 2012. The
annual option grants are part of the Company's remuneration strategy
that attempts to align the options plan with improving shareholder
value. The options granted to Arvind Jain on June 21, 2012, have the
same vesting and expiry terms.
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:
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
southeastern Québec, Canada. The Company's claim blocks lie within an
area that extends approximately 100 kilometres along the Appalachians
of southern Québec from near Ste-Lucie-de-Beauregard to approximately
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 please visit www.goldenhopemines.com.
Statements Regarding Forward-Looking Information: Information set forth in this news release by Golden Hope Mines Ltd. may contain forward-looking information within the meaning of Canadian
securities laws. Forward-looking information includes statements that
relate to future, not past, events. In this context, forward-looking
information often addresses the Company's expected future business and
financial performance, and often contains words such as "anticipate",
"believe", "plan", "estimate", "expect" and "intend", statements that
an action or event "may", "might", "could", "should" or "will" be taken
or occur, or other similar expressions (including negative and
grammatical variations). Such information includes plans, timing and
expectations for updates of the Company's resource estimate;
expectations regarding the Company's planned exploration activities and
budget; the timing for receipt of drilling and assay results; and plans
for further exploration and drilling at Bellechasse-Timmins and
Champagne/VMS and other targets along the Bellechasse Belt. By their
nature, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the Company's actual
results, performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking information.
Such factors include, among others, the following risks: the risks
associated with any outstanding litigation; risks associated with
exploration activities and project development; timing of and
unexpected events regarding the receipt and interpretation of drilling
and assay results; delays in the preparation of resource estimate
updates; the need for additional financing; operational risks
associated with mineral exploration; fluctuations in gold and other
commodity prices; title matters; technical and permitting issues;
environmental liability claims; insurance matters; reliance on key
personnel; the potential for conflicts of interest among certain
officers, directors or promoters with certain other projects; the
absence of dividends; competition; dilution; the volatility of our
common share price and volume; the impact of taxation; and general
economic conditions. Forward-looking information is based on
management's beliefs, estimates and opinions on the date hereof and the
Company undertakes no obligation to update any forward-looking
information if these beliefs, estimates and opinions or other
circumstances should change. Investors are cautioned against
attributing undue certainty to forward-looking information.
Any historical mineral quantities set forth herein are, unless otherwise
indicated, not compliant with National Instrument 43-101.
Neither 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 news
release.
SOURCE: Golden Hope Mines Limited