southeastern Quebec

cnw






TSX VENTURE: GNH

OTCQX: GOLHF




MONTREAL, Dec. 9, 2011 /CNW/ - Golden Hope Mines (TSXV: GNH)(OTCQX: GOLHF) - Golden Hope Mines Limited wishes to announce the engagement of
Geotech Ltd. of Aurora, Ontario for a helicopter-borne geophysical
survey for the purposes of further investigating the mineral potential
and identifying new targets for exploration and drilling in
southeastern, Quebec. The proposed survey will cover an approximate
area of 1,467 line-kilometres over 2 areas. The helicopter and
equipment have already been mobilized and are scheduled to begin
shortly.




Geotech's VTEM Plus Time Domain EM system is excellent for locating
discrete conductive anomalies as well as mapping lateral and vertical
variations in resistivity. The VTEM plus system is equipped with a high-sensitivity magnetometer for mapping
geologic structure and rock types. VTEM plus offers the industry's
highest signal/noise ratio and spatial resolution of conductors and
unparalleled depth of investigation.




This VTEM survey is designed to support the current exploration of
approximately 4 kilometers of a stratographic horizon within the
Bellechasse Belt claims held by the Company. Diamond drilling within
this horizon on the Champagne Zone is already in progress.




The Golden Hope technical team along with SGS-Geostat will evaluate and
prioritize the geophysical targets outlined by the survey with
reference to the extensive data accumulated in its Geological
Information System (GIS). The VTEM survey is part of Golden Hope's
regional strategy to explore the Bellechasse Belt for polymetallic
targets in addition to the already known gold mineralization.




The following corrects and replaces the release that was issued December
7th, 2011 at 5:04 pm ET. The previous version noted that Golden Hope
Mines Limited 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 correct Unit will consist of one common share and one-half of one
common share purchase warrant with each whole warrant exercisable for a
period of 18 months from Closing and at a price of of $0.20 per share.




The complete and corrected version follows:




NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE U.S.




Montreal, December 7, 2011 /CNW/ - Golden Hope Mines (TSX VENTURE:
GNH)(OTCQX: GOLHF) - Golden Hope Mines Limited is pleased to announce
that it intends to complete a non-brokered private placement financing
of up to 10,312,500 flow through common shares ("Flow-Through Common
Shares") at $0.16 per Flow-Through Common Share for gross proceeds in
the amount of up to $1,650,000. In addition the Company intends to
complete a non-brokered private placement financing of up to 4,000,000
units ("Units") at a price of $0.12 per Unit for gross proceeds in the
amount of up to $480,000 (together with the private placement of
Flow-Through Common Shares, the "Offering"). Each Unit consists of one
common share (a "Common Share") and one-half of one Common Share
purchase warrant (a "Warrant"), with each whole Warrant exercisable for
period of 18 months from the closing of the Offering at a price of
$0.20 per share.




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 Flow-Through Common Shares, 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 Geotech Ltd:




Geotech is a leading innovator in the airborne electromagnetics industry
through the development of new and progressive airborne geophysical
technologies.


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.