Golden Hope Mines Limited Adopts Shareholder Rights Plan (cnw)

TSX VENTURE: GNH

Pink Sheets: GOLHF

MONTREAL, Feb. 22, 2012 /CNW/ - Golden Hope Mines Limited (TSX Venture: GNH) (Pink Sheets: GOLHF) - Golden Hope Mines Limited is pleased to announce that its Board of Directors (the "Board") at a meeting of the Board held on January 30, 2012, approved the adoption of a Shareholder Rights Plan Agreement (the "Rights Plan"), entered into with Equity Financial Trust Company, as rights agents, effective January 30, 2012.

The Rights Plan was adopted to provide adequate time for the Board and the Corporation's shareholders to assess any unsolicited take-over bid (a "Bid") which might be received, as well as to provide the Board with sufficient time to explore and develop alternatives for maximizing shareholder value and to provide the Corporation's shareholders with an equal opportunity to participate in the Bid and protect them from unfair or coercive tactics. The Rights Plan was not adopted as a result of any pending or suspected unsolicited Bid to acquire control of the Corporation.

The Rights Plan is intended to encourage any Bid to satisfy certain minimum standards designed to promote fairness. If a Bid fails to satisfy these minimum standards, the Rights Plan provides that holders of the Corporation's common shares, other than the bidder, will be able to purchase additional common shares.

The Rights Plan has not been approved by the TSX Venture Exchange and is subject to the ratification by the shareholders of the Corporation at its Annual and Special meeting of Shareholders scheduled to be held in Toronto on June 18, 2012.

A copy of the Rights Plan will be filed under the Corporation's profile on SEDAR at www.sedar.com and made available on Golden Hope's website at www.goldenhopemines.com