GNH Golden Hope Mines Limited

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UNITED STATES


Golden Hope Mines Limited ("Golden Hope" or the "Company") (TSX
VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to announce that it has completed the
first tranche (the "Tranche") of a non-brokered private placement, previously
announced on April 29, 2010, of 10, 584, 276 units of the Company (each a
"Unit") at a price of $0.18 per Unit for gross proceeds of $1,905,170.


Each Unit is comprised of one common share of the Company (each a "Common
Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant
is exercisable into one Common Share at a price of $0.25 per share for a period
of 24 months.


Under applicable securities legislation and policies of the TSX Venture
Exchange, the Common Shares and the Warrants are subject to a hold period
expiring on September 7, 2010.


In connection with the closing of the Tranche, the Company will pay finder's
fees in the aggregate amount of $167,857 and will issue 364, 983 additional
Warrants, each exercisable for one Common Share at a price of $0.25 for a period
of 24 months.


Golden Hope will use the proceeds from the Offering to advance the exploration
on its Bellechasse/Beauce project in Quebec.


About Golden Hope Mines Limited:

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 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. Various factors
could cause actual results to differ materially from those in forward-looking
statements. These include market prices, exploitation and exploration successes,
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 Golden Hope's registered
filings at www.sedar.com.

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