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 the over-allotment
option (the "Over-Allotment Option") issued under the private placement that it
announced on April 29, 2010 (the "Private Placement") has been partially
exercised and, accordingly, that the Private Placement has been oversubscribed.
The Private Placement was announced for $2,000,000 with the Over-Allotment
Option of up to an additional $2,000,000. As a result of this exercise of the
Over-Allotment Option, the Private Placement has been oversubscribed for total
gross proceeds of $2,921,990. The Over-Allotment Option was exercised to
purchase 5,649,000 units of the Company (each a "Unit") at a price of $0.18 per
Unit for gross proceeds of $1,016,820.


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 issued upon the exercise of the
Over-Allotment Option are subject to a hold period expiring on September 29,
2010.


In connection with the closing of the Over-Allotment Option, the Company will
pay finders' fees in the aggregate amount of $101,682 and will issue 508,410
additional Warrants, each exercisable for one Common Share at a price of $0.25
for a period of 24 months.


"We are extremely pleased to have successfully closed the Private Placement. We
are also pleased that the placement was oversubscribed. Access to hard cash
financing continues to be difficult in junior exploration especially in light of
the continued volatility in the capital markets. We believe that having this
capital is a vote of confidence in our company, its team and especially the
quality of our exploration project in South Eastern Quebec" states Frank
Candido, the President of Golden Hope.


Golden Hope will use the proceeds from the Private Placement and Over-Allotment
Option exercise 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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