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Golden Hope Mines Announces Positive Preliminary Metallurgical Testing with Excellent Gravity Gold Recovery at Bellechasse-Timmins Gold Project in Southeastern Quebec, Canada

January 23, 2012

Montreal, January 23, 2012 /CNW/ - Golden Hope Mines Limited (TSX VENTURE: GNH, PINK SHEETS: GOLHF) is pleased to announce excellent gold recovery from preliminary metallurgical testwork at its Bellechasse-Timmins gold project in southeastern Quebec, Canada. Gold recovery using gravity separation ranged from 54% to an outstanding 92%, while total gold recovery ranged from 97% to more than 99%. The test work was completed on five (5) composite samples composited from drill core in its recent drill program.

"We are extremely pleased with the preliminary results. These results clearly demonstrate the excellent gold recovery by gravity, while achieving outstanding recoveries using a combination of gravity and cyanidation. Although these are the first metallurgical results completed to date, we are very pleased as we continue to build this project towards production." explains Frank Candido, President, Golden Hope Mines Limited.

The purpose of the test was to determine the head grades of the various composites and compare them with the individual assay results already announced previously. SGS Geostat selected composite samples from five different mineralized intersections at various depths with variable grades from drill core that tested the T1 zone at the Bellechasse Timmins project.. The test work produced a total gold metallurgical balance that shows calculated feed grade, tailing losses and overall gold recovery data.

The results as reported in Table 1 below clearly demonstrate excellent recovery of gold from the Bellechasse-Timmins mineralized zones.

In addition, the minimum overall gold recovery from gravity and cyanidation as shown in Table 2 below ranges from 96.8 to 99.6%.

The tests were performed under the supervision of Lesley Hendry, project metallurgist at SGS Lakefield.

Claude Duplessis, Eng. is an independant qualified person as defined by National Instrument 43-101 and has reviewed the technical contents of this press release.

James E. Tilsley, P.Eng is a qualified person (QP) as defined by NI 43-101 for Golden Hope and has reviewed the technical contents of this release.