Golden Hope to Acquire Additional Mining Claims in the Bellechasse/Beauce Region of South Eastern Quebec - North East extension of Bellechasse-Timmins (cnw)

TSX VENTURE: GNH

Pink Sheets: GOLHF

MONTREAL, Jan. 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.