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TSX VENTURE: GNH




OTCQX: GOLHF




MONTREAL, Dec. 7, 2011 /CNW/ - Golden Hope Mines (TSXV: GNH)(OTCQX: GOLHF) - Golden Hope Mines Limited is pleased to announce that it intends to
complete a non-brokered private placement financing of units ("Units")
at a price of $0.16 per Flow-Through Unit for gross proceeds in the
amount of up to $1,650,000 (the "Offering"). In addition the Company
intends to complete a non-brokered private placement financing of units
("Units") at a price of $0.12 per Unit for gross proceeds in the amount
of up to $480,000 (the "Offering"). Each Unit consists of one common
share of the Company (a "Common Share") and one Common Share purchase
warrant (a "Warrant"), with each Warrant entitling the holder thereof
to acquire a Common Share at the exercise price of $0.20 per Common
Share for a period of up to 18 months following the closing of the
Offering.




The Company intends to use the net proceeds of the Offering to continue
the development of its key Gold project in Southeastern Quebec and for
working capital purposes. The Company may pay finder's fees in
connection with the financing.




The Common Shares, the Warrants and the Common Shares issuable upon the
exercise of the Warrants are subject to resale restrictions. Closing of
the financing is subject to receipt of regulatory approval, including
the approval of the TSX Venture Exchange.


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 http://www.goldenhopemines.com/">www.goldenhopemines.com.