Golden Hope Mines to Acquire Mining Claims in the Beauce Region of South Eastern Quebec
February 19 2010 - 2:35PM
Marketwired
Golden Hope Mines (TSX VENTURE: GNH)(PINK SHEETS: GOLHF)has signed
a letter of intent (the "LOI") whereby it proposes to acquire from
a prospector (the "Prospector") a 100% stake in certain mining
claims (the "Property") located in the Beauce region of South
Eastern Quebec. These claims fall within the Bellechasse-Timmins
Belt and lie approximately 6 kilometers south west of the Company's
Bellechasse-Timmins deposit.
Under the terms of the LOI, Golden Hope Mines can acquire from
the Prospector a 100% interest in the Property by paying an amount
of $2,500 and issuing 125,000 treasury common shares. Upon Golden
Hope Mines having acquired a 100% interest in the Property, the
Prospector will retain a 2% net smelter return royalty, which can
be bought back by Golden Hope Mines 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.
The securities issued under the LOI will be subject to a four (4)
month hold period.
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 Quebec, Canada. The Bellechasse
gold project in Quebec includes the Timmins 1, Timmins 2 and Ascot
gold zones, the new FSG volcanic environment targets and a number
of recently claimed ultra basic/serpentine bodies. For further
information on Golden Hope Mines Limited please visit
www.goldenhopemines.com.
Forward-Looking Information:
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities and events or developments that the company expects are
forward-looking statements. Although the company believes the
expectations expressed in such statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in the statements. Factors could cause actual
results to differ materially from those in forward-looking
statements. These include market prices, exploitation and
exploration successes, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
For more information on the company, investors should review
registered filings at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Golden Hope Mines Limited Frank Candido President,
Director 514-750-8218 416-864-0175 (FAX)
fcandido@goldenhopemines.com or info@goldenhopemines.com
www.goldenhopemines.com
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