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TSX VENTURE: GNH

OTCQX: GOLHF


MONTREAL, Dec. 23, 2011 /CNW/ - Golden Hope Mines ("Golden Hope" or the "Company" TSX VENTURE: GNH, OTCQX: GOLHF) is pleased to announce the closing of its previously announced
non-brokered private placement financing.


The private placement consisted of 10,333,550 flow-through common shares
("Flow-Through Common Shares") issued at a price of $0.16 per
Flow-Through Common Share and 3,606,533 units ("Units") issued at a
price of $0.12 per Unit, for total gross proceeds of $2,086,152 (the
"Offering"). Each Unit consists of one non-flow-through common share
("Common Share") and one-half of one Common Share purchase warrant
(each whole Common Share purchase warrant, a "Warrant"), with each
Warrant entitling the holder thereof to purchase an additional Common
Share at $0.20 per Common Share for a period of up to 18 months
following the closing of the Offering.


In connection with the private placement, the Company paid total fees to
finders, including EMD Financial Inc., of $160,941. The Company also
issued non-transferable broker warrants entitling certain finders to
purchase up to 824,684 Common Shares of the Company at an exercise
price of $0.16 per Common Share for a period of 18 months from the date
of closing, and non-transferable broker warrants entitling certain
finders to purchase up to 241,595 Common Shares of the Company at an
exercise price of $0.12 per Common Share for a period of 18 months from
the date of closing.


Under applicable securities legislation and policies of the TSX Venture
Exchange, the securities issued or issuable in the private placement
are subject to a hold period expiring on April 23, 2012


The Company intends to use the net proceeds of the Offering to continue
the development of its key gold project in Southeastern Quebec and for
working capital purposes.




About EMD Financial Inc. :




EMD Financial Inc. is an exempt market dealer, registered in the
Province of Quebec and serving clients in Quebec, Ontario and Alberta.
EMD specializes in equity private placement financings for publicly
listed companies in the resource sector. EMD also offers consulting
services on mergers, acquisitions and investment banking catered
specifically to the client's particular situation.


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 southeastern Quebec, Canada. The company's claim blocks lie within
an area that extends approximately 100 kilometres along the
Appalachians of southern Quebec from near Ste-Lucie-de-Beauregard to
about 16 kilometres southwest of Beauceville. The Bellechasse-Timmins
gold deposit lies 5 kilometres southeast of St-Magloire within the
Bellechasse Belt an approximately 18 kilometre long mineralized area.
The Bellechasse-Timmins gold deposit includes the T1, T2A, T2B,
Ascot/Road gold zones, and eight known parallel gold-bearing breccias
in the adjoining 88 Diorite. The company is also working to develop
other targets within its claim blocks including the FSG gold and base
metal target, the St-Luc (Roux) target, Chute du Bras, the LG showing,
Moose Cliff, and Talon. For further information on Golden Hope Mines
Limited please visit

Forward-Looking Information:


This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this press release,
other than statements of historical facts, that address future events,
the use of proceeds of the Offering 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

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.




For further information:

Golden Hope Mines Limited Frank Candido President, Director 514-750-8218 416-864-0175 (FAX) fcandido@goldenhopemines.com or info@goldenhopemines.com http://www.goldenhopemines.com/">www.goldenhopemines.com