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TORONTO, ONTARIO, May 6, 2010 (Marketwire) -- NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE 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.

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