To date, I have been assuming good faith on the part of management of Golden Hope Mines. Maybe poor judgement, but good faith. I have assumed that management has had the best wishes of stock owners at heart. However, since late 2010, the stock price has been on a significant downward spiral, partly contributed to the economic climate in the junior mining industry, however, largely contributed to the actions of management, as detailed in part below:

· Continuous delay of assay results. During the delay in assay results in 2010, GNH undertook a massive promotional campaign. As shareholders patiently waited for results, management mislead shareholders by continuously stating that the news was getting better, and visible gold was apparent in many holes. James West was hired on as a consultant for $5000 a month to promote the company. During this period, Frank was everywhere to be seen (CBC radio, TV, Quebec Newspapers, Resource Investment Conferences in Canada, USA, Hong Kong, Switzerland etc).

· When the first batch of assay results was released in September 2010, the results did not live up to expectations. Many in management, including Frank Candido sold shares and stock options they had acquired in the 12 – 30 cent range for about 50 – 70 cents, locking in handsome profits as the stock price began to tumble.

· Fast forward to June 2011. The stock price has gone from a high of 98 cents to a low of 11 cents. Management is now low key and the same James West that “ “Practically begged company president Frank Candido to engage me as an IR consultant because I truly believe that the size potential of this still under-the-radar company has gone ballistic” now refers to the company as a dog and has recommended it as a sell.

My overall point in all this is similar to that of Skier’s. With management, consultants, directors and investor relations already holding significant stock options, this latest issuance of 2,810,000 options at $0.12 for a period of five years was not earned. GNH management and directors have not increased the value of the company and have not created value for shareholders to deserve these stock options.

Since management's overall job was to grow the value of the company, and the company's value is measured by the market price of its stock, why not set up stock options structured so that management would get extra shares of stock -- but only if they reached a certain price, like 50 cents and not 12 cents.

April