By NEWS
TSX VENTURE: GNH Pink Sheets: GOLHFJanuary 17, 2012
Golden Hope to Acquire Additional Mining Claims in the Bellechasse/Beauce Region of South Eastern Quebec - North East extension of Bellechasse-Timmins. Montreal, January 17, 2012 /CNW/ - Golden Hope Mines ("Golden Hope" or the "Company"; TSX VENTURE: GNH, Pink Sheet: GOLHF) has signed a letter agreement (the "Agreement") whereby it proposes to acquire from a prospector (the "Prospector") a 100% stake in certain mining claims (the "Property") located in the Bellechasse/Beauce Region of South Eastern Quebec. These claims are adjacent to the Bellechasse-Timmins claim block and lie approximately 5 kilometers north east of the Company's Bellechasse-Timmins gold deposit.
Under the terms of the Agreement, Golden Hope Mines can
acquire from the Prospector a 100% interest in the Property
by paying an amount of $40,000 (of which a non refundable
amount of $15,000 was paid on signing) and issuing
150,000 treasury common shares and after having incurred a
total of $100,000 in work expenditures on the Property on or
before February 15, 2013. Upon Golden Hope Mines having
acquired a 100% interest in the Property, the Prospector will
retain a 2% net smelter return royalty on the Property, of
which 1% can be
bought back by the Company, at any time and at its sole
discretion, for the sum of $1,000,000. The transaction is
subject to, among other things, the approval of the TSX
Venture Exchange and the signature of a definitive agreement.
The securities issued under the Agreement will be subject to
a four (4) month hold period.
The mineral claims acquired through this agreement cover the
northeastern extensions of both the northern and southern
Champagne horizons and make the Company's Bellechasse
Belt claims contiguous for approximately 20km from
Laval's Mountain in the northeast to the Beland showings
in the southwest.
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 eight known parallel gold-bearing
breccias in the adjoining 88
Diorite. The
Company is also working to develop other targets within its
claim blocks including the FSG gold and base metal target,
the St-Luc (Roux) target, Chute du Bras, the LG showing,
Moose Cliff, and Talon. For further information on Golden
Hope Mines Limited please visit www.goldenhopemines.com.
For further information: Golden Hope Mines Limited
Frank Candido : President, Director
514-750-8218 416-864-0175 (FAX)
