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TORONTO,
ONTARIO--(Marketwire - June 17, 2008) - Golden Hope Mines Ltd. (TSX
VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to announce the acquisition
of an additional property as part of the company's
Bellechasse-Chaudiere project in southern Quebec. The Riviere des
Plantes Property is on the strike extension of the serpentinites
identified north of the Bellechasse gold belt and is an extension into
the historic Beauce alluvial gold camp. It is contiguous with the 1200
claims the company already holds in the area.
The Beauce region of Quebec, Canada is renowned as one of the earliest
placer gold mining area in North America. Several large nuggets,
including two that weighed 56 ounces and 48 ounces respectively were
extracted from oxidized pre-glacial river gravels. An unknown quantity
of gold and platinum was extracted from the black sand-rich gravels
from the lower stretches of Riviere des Plantes. Placer gold and
platinum have also been extracted from river gravels about 25 Km south
of the property at the junction of the Chaudiere and Liniere Rivers.
The bedrock sources for the gold and platinum placers in the Gilbert,
Chaudiere, Liniere rivers, and the Riviere des Plantes have yet to be
identified.
The Riviere des Plantes property includes twenty two (22) mining claims
totaling approximately 1308 hectares (3,232 acres).
The terms of the agreement consist of: ---------------------------------------------------------------------------- Date Cash Payment GNH Shares Property Expenditures ---------------------------------------------------------------------------- Upon closing $ 25,000.00 100,000 - ---------------------------------------------------------------------------- 1st anniversary $ 50,000.00 150,000 $100,000 ---------------------------------------------------------------------------- 2nd anniversary $ 75,000.00 200,000 $150,000 ---------------------------------------------------------------------------- 3RD anniversary - - $250,000 ---------------------------------------------------------------------------- Total: $150,000 450,000 $500,000 ----------------------------------------------------------------------------
The property is contiguous to the claims held
by Golden Hope Mines Limited and together cover approximately 90% of a
large serpentinite body with which the known mineralization is
associated. This serpentinite is one of 10 targets staked by Golden
Hope during the last 12 months and is a priority for exploration during
the 2008 program.
Part of the northern half of the property was explored for iron and
industrial minerals during the l880's and 1890's. During that period
several shallow prospect pits were excavated along what today is now
known as the Brompton - Baie Verte Line. At the time this belt was
called the Serpentine Belt. The iron oxide showings located within St.
Charles, St. Gaspard and Range A contain 40-55% iron, 7-16% titanium
and trace to 10% chrome.
Between 1950 and 1955 companies such as Johns Manville Asbestos Co.,
Strategic Metals Corp. and Golden Age Mines conducted exploration work
on the property. Diamond drilling completed by Strategic Metals
intersected silicified serpentinite and pyritiferous black slates in
two separate inclined holes. No assays for precious metals were made on
samples from these silicified intervals. A third drill hole west of the
two drill holes noted above intersected a silicified zone that returned
assays of 2 g/t Au, 46 g/t Ag and 0.10% Cu across 14 meters. (all
results are historical and non NI 43-101 compliant).
In 1986 -1987 Macamic Resources and Aurochs Exploration conducted
exploration work on the northern half of The Riviere des Plantes
property. The drill holes tested the depth extensions of iron oxide
occurrences discovered in the late 1800s. The best drill intercept
returned 28 meters of semi-massive to massive magnetite with up to five
percent pyrite and trace to two percent pyrhotite and chalcopyrite
mineralization. Recorded assays showed anomalous precious metal values
associated with elevated nickel, chrome, copper and zinc values.
Prospecting by Vendittelli and Gartner in 2001 identified elevated
levels of PGE in the exposed serpentinized ultramafic rocks on the
north side the property (up to 1.3 gm/t Pt in grab samples).
The property is drill ready with 3 quality IP/resistivity anomalies in
the vicinity of a silicified zone within the melange where gold has
been intersected in drilling. Two other significant targets were
identified on strike on the western grid.
The historical data above continues to demonstrate the exploration
potential of the company's serpentinite targets which have been
identified from Bellechasse to south-west of the Chaudiere River, a
distance of more than 100 kms.
Golden Hope Mines has already begun its field exploration program in
Quebec. A forthcoming news update will describe our 2008 activities in
more detail.
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 Mines Limited is a mineral exploration company that seeks
to grow shareholder value through the acquisition, exploration and
development of potentially large-scale gold, silver and base metal
projects suitable for underground and/or open-pit mining. The company's
two areas of interest are located in Quebec, Canada and Maine, U.S. The
Bellechasse-Chaudiere gold project in Quebec includes the Timmins and
Ascot gold zones, the Coucou volcanic target and a number of newly
claimed serpentinite bodies.
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.
Factors that 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 registered filings at www.sedar.com.
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