Toronto, July 14, 2011/CNW/Golden Hope Mines (TSX VENTURE: GNH)(OTCQX: GOLHF)- Golden Hope Mines Limited is pleased to announce that it has begun its summer 2011 drill campaign at the Bellechasse-Timmins gold deposit in southeastern Quebec. The initial program is for 6 holes or approximately 2800 metres.
Over the past few months, the GNH technical team in conjunction with SGS Canada-Geostat has been reviewing the historical data on the Bellechasse Belt and more specifically the Bellechasse �Timmins Gold Deposit.
In summary, the following was concluded:
- The data at Bellechasse-Timmins are very encouraging and support a recommendation for additional drilling to properly outline the gold deposit at Bellechasse-Timmins.
- The Bellechasse Belt has great potential to produce other gold deposits similar to those found within the Bellechasse-Timmins area. An extensive exploration program covering the Golden Hope Mines Limited claims in the Bellechasse Belt is warranted.
The initial holes as set out above are to further test the two main zones explored to date; the T1 and T2 zones. Once these holes have been drilled the next steps in the program will be laid out.
A map of the proposed drill holes is available on the company's web site at http://www.goldenhopemines.com/exploration/bellechase_timmins_gold/
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 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.
About SGS Canada-Geostat:
SGS has over 25 years of experience in providing the mining industry with computer-assisted ore reserve estimation services using mainly geo-statistical techniques. SGS is known globally as the expert in ore body modeling and reserve evaluation. SGS utilizes the disciplines of geology, statistics, and mining engineering to provide its clients with accurate and timely reserve and modeling solutions.
SGS is a pioneer in computer-based ore body modeling and resource estimation, providing these services since 1981. SGS has provided modeling and resource estimation solutions to companies involved in the mining of gold and precious metals, base metals, iron ore, coal, uranium, diamonds and industrial minerals.
SGS produces independent qualification reports for companies worldwide including due diligence audits, technical reports, property evaluation, prefeasibility studies and certification of reserves.
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 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 more information, please contact:
Golden Hope Mines Limited
Frank Candido
President, Director
514-750-8218
416-864-0175 (FAX)
fcandido@goldenhopemines.com or info@goldenhopemines.com
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