Golden Hope Mines Limited Announces Private Placement Financing

MONTREAL, Oct. 22, 2012 /CNW/ - Golden Hope Mines Limited ("Golden Hope" or 
the "Company") (TSX VENTURE: GNH) (Pink Sheets: GOLHF) - Golden Hope Mines 
Limited is pleased to announce that it intends to complete a non-brokered 
private placement financing of up to 6,400,000 Flow-Through Common Shares at a 
price of $0.125 per Flow-Through Common Share for gross proceeds in the amount 
of up to $800,000. In addition, the Company also intends to complete a 
non-brokered private placement financing of up to 2,222,222 Common Shares at a 
price of $0.09 per Common Share for gross proceeds in the amount of up to 
The proceeds of the financing will be used to continue the exploration and 
drill campaign announced on August 20, 2012 on the Bellechasse Belt of 
southeastern Quebec as well as for general working capital purposes. 
On August 2, 2012, Golden Hope released its first NI 43-101 Technical Report 
entitled 'Bellechasse-Timmins Property Resource Estimate, Southeastern Quebec' 
with a yielded in situ indicated and inferred resource of 415,900 ounces gold 
( The report also suggests exceptional total gold 
recovery rates of up to 99.6%. Lastly, SGS, the author of the report, 
concluded that there is a reasonable prospect of economic extraction by open 
pit and underground mining. 
Golden Hope will continue to drill at Bellechasse-Timmins with the objective 
of expanding the resource estimate both at surface and at depth. The company 
has also identified a number of high priority drill targets throughout the 
belt. These other targets are hosted in two distinct environments; the 
Bellechasse-Timmins quartz hosted diorite type and a number of Volcanogenic 
Massive Sulphide ("VMS") type targets. 
The Company may pay finder's fees in connection with the financing. The 
Flow-Through Common Shares and the Common Shares 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: 
Golden Hope 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 Québec, Canada. The 
Company's claim blocks lie within an area that extends approximately 100 
kilometres along the Appalachians of southern Québec from near 
Ste-Lucie-de-Beauregard to approximately 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 the 88 Diorite. The Company is also looking to 
develop the Champagne zone, a partially explored base metal and gold deposit 
that lies within the Company's Bellechasse Belt claims. A recently completed 
VTEM survey may identify other similar targets along the horizon. The Company 
is also working to develop other targets within its claim blocks including the 
FSG gold and base metal target, Chute du Bras, the LG showing, Moose Cliff, 
and Talon. For further information on Golden Hope please 
Statements Regarding Forward-Looking Information: Information set forth in 
this news release by Golden Hope Mines Ltd. may contain forward-looking 
information within the meaning of Canadian securities laws. Forward-looking 
information includes statements that relate to future, not past, events. In 
this context, forward-looking information often addresses the Company's 
expected future business and financial performance, and often contains words 
such as "anticipate", "believe", "plan", "estimate", "expect" and "intend", 
statements that an action or event "may", "might", "could", "should" or "will" 
be taken or occur, or other similar expressions (including negative and 
grammatical variations). Such information includes plans, timing and 
expectations for updates of the Company's resource estimate; expectations 
regarding the Company's planned exploration activities and budget; the timing 
for receipt of drilling and assay results; and plans for further exploration 
and drilling at Bellechasse-Timmins and Champagne/VMS and other targets along 
the Bellechasse Belt. By their nature, forward-looking information involves 
known and unknown risks, uncertainties and other factors which may cause the 
Company's actual results, performance or achievements, or other future events, 
to be materially different from any future results, performance or 
achievements expressed or implied by such forward-looking information. Such 
factors include, among others, the following risks: the risks associated with 
any outstanding litigation; risks associated with exploration activities and 
project development; timing of and unexpected events regarding the receipt and 
interpretation of drilling and assay results; delays in the preparation of 
resource estimate updates; the need for additional financing; operational 
risks associated with mineral exploration; fluctuations in gold and other 
commodity prices; title matters; technical and permitting issues; 
environmental liability claims; insurance matters; reliance on key personnel; 
the potential for conflicts of interest among certain officers, directors or 
promoters with certain other projects; the absence of dividends; competition; 
dilution; the volatility of our common share price and volume; the impact of 
taxation; and general economic conditions. Forward-looking information is 
based on management's beliefs, estimates and opinions on the date hereof and 
the Company undertakes no obligation to update any forward-looking information 
if these beliefs, estimates and opinions or other circumstances should change. 
Investors are cautioned against attributing undue certainty to forward-looking 
Any historical mineral quantities set forth herein are, unless otherwise 
indicated, not compliant with National Instrument 43-101. 
Golden Hope Mines Limited
 Frank Candido: President Tel: 514-750-8218 
SOURCE: Golden Hope Mines Limited 
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CO: Golden Hope Mines Limited
ST: Quebec
-0- Oct/22/2012 19:15 GMT
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