TSX VENTURE: GNH
Pink Sheets: GOLHF

Golden Hope Establishes Technical Advisory Committee, Appoints James Franklin.

August 16, 2012

Montreal, August 16 2012 /CNW/ - Golden Hope Mines Limited (TSX VENTURE: GNH) (Pink Sheets: GOLHF) - Golden Hope Mines is pleased to announce the establishment of a Technical Advisory Committee. The Advisory Committee will be comprised of a select group of highly skilled and experienced consultants with varied technical expertise who will assist the company in advancing its exploration project in southeastern Quebec. The Advisory Committee will report directly to the President of Golden Hope Mines Limited.

The Company is pleased to announce James Franklin as the first appointment to the Technical Advisory Committee.

"Jim Franklin's addition to our team is an exciting development. Although best known for his published work on volcanogenic massive sulphides, Franklin is one of the world's foremost experts on a variety of mineralizing systems. This expertise will help to guide us in the expansion of our flagship Bellechasse-Timmins gold deposit as well in helping to identify other potential gold deposits within our large claim package." States Frank Candido, President, Golden Hope Mines Limited. "Dr. Franklin is one of the World's best observational geologists and his experience and knowledge will work well with our Chief Geologist Jim Tilsley. We continue our ongoing efforts to develop the potential of the Bellechasse-Timmins Belt and to grow and expand our resources in southeastern Quebec. "

Dr. James Franklin is a world-recognized expert on a broad variety of precious and base metal mineral deposits. He is best known for an unparalleled understanding of all geological and geochemical aspects of exploration for volcanogenic massive sulfide (VMS) deposits. He most recently has applied litho-geochemical interpretations to successfully locate VMS deposits in northern Ontario and South America. This involves applying the most appropriate geochemical indices to provide vectors to ore. Geochemical vectoring will assist in selecting the most appropriate geophysical anomalies for drilling on Golden Hope's Champagne VMS deposit and other polymetallic targets which have already been identified.

Dr. Franklin is also an expert in the application of litho-geochemistry to identify the most prospective areas for gold deposits. This type of analysis, if combined with structural analysis, can greatly improve the targeting of economic resources. The Bellechasse-Timmins gold occurrence, Golden Hope's primary target, has many geochemical features similar to diorite – hosted gold in the Val D'Or region (e,g, Lamaque Mine), and it is expected that key geochemical parameters that identify the Val d'Or gold systems, combined with more precise structural analysis, can identify additional prospective areas on Golden Hope's property.

Dr. Franklin is an exploration geologist with over 40 years of experience, focusing on discovering base metal-, uranium- and gold-bearing ore deposits. He is a graduate of Carleton University (BSc, MSc) and the University of Western Ontario (Ph.D). He taught at Lakehead University, consulted for Noranda Inc. in the Sturgeon Lake area and then joined the Geological Survey of Canada ("GSC"), where he directed major research programs on base metal and gold deposits throughout Canada.

As Chief Geoscientist of the GSC from 1993 until 1998, he was responsible for coordinating GSC's entire scientific program. Currently he is the director of four exploration companies and sits on numerous industry advisory boards. He also sits on advisory or management boards for the Canadian Scientific Submersible Facility, the Canadian Mining Innovation Council, The Mining Industry Human Resources Council, and NRCan's Earth Science and Minerals and Metals sectors.

GNH Exploration Summary:

The Company recently released its first resource estimate at the Bellechasse-Timmins gold deposit. This is a major milestone for both Golden Hope and the Bellechasse Region of southeastern Quebec.

The estimate includes an indicated resource (using uncapped composites and a cut-off grade of 0.6 g/t) of 314,000 ounces of gold in 2.9 million tonnes grading 3.4 g/t within the T1 and T2 structures and an inferred resource of 102,000 ounces in 2.2 million tonnes grading 1.5 g/t, which also included part of the T1, T2, Ascot and 88 zones. Mineralization in these structures is open to depth, to the northeast near surface, and to the southwest at depth.

The Company's primary focus is to expand and greatly grow the resource through further exploration.

The Bellechasse-Timmins gold deposit occupies less than 1% of the area of the Company's claims within the Bellechasse Belt. The Company believes additional deposits will be discovered.

The Company is also looking at other opportunities in the Belt to add to its existing resource at Bellechasse-Timmins. A good example of this potential mining district is the Champagne polymetallic deposit. It lies approximately 3.2 kms north of GNH's Bellechasse-Timmins gold deposit and has a near surface historical non- 43-101 resource of 250,000 tonnes of massive and disseminated sulphides averaging 2.4 g/t gold, 19.7 g/t silver, 2.7% zinc, 0.4% copper and 0.4% lead.

The Company completed a VTEM survey in late 2011, which detailed several high quality VMS targets in close proximity to the Champagne Deposit.

The Company also has a number of other high priority new targets for precious and base metals, which it intends to drill.

About Golden Hope:

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 southeastern Québec, Canada. The Company's claim blocks lie within an area that extends approximately 100 kilometres along the Appalachians of southern Québec from near Ste-Lucie-de-Beauregard to approximately 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 the 88 Diorite. The Company is also looking to develop the Champagne zone, a partially explored base metal and gold deposit that lies within the Company's Bellechasse Belt claims. A recently completed VTEM survey may identify other similar targets along the horizon. The Company is also working to develop other targets within its claim blocks including the FSG gold and base metal target, Chute du Bras, the LG showing, Moose Cliff, and Talon. For further information on Golden Hope please visit www.goldenhopemines.com.

Statements Regarding Forward-Looking Information: Information set forth in this news release by Golden Hope Mines Ltd. may contain forward-looking information within the meaning of Canadian securities laws. Forward-looking information includes statements that relate to future, not past, events. In this context, forward-looking information often addresses the Company's expected future business and financial performance, and often contains words such as "anticipate", "believe", "plan", "estimate", "expect" and "intend", statements that an action or event "may", "might", "could", "should" or "will" be taken or occur, or other similar expressions (including negative and grammatical variations). Such information includes plans, timing and expectations for updates of the Company's resource estimate; expectations regarding the Company's planned exploration activities and budget; the timing for receipt of drilling and assay results; and plans for further exploration and drilling at Bellechasse-Timmins and Champagne/VMS and other targets along the Bellechasse Belt. By their nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the following risks: the risks associated with any outstanding litigation; risks associated with exploration activities and project development; timing of and unexpected events regarding the receipt and interpretation of drilling and assay results; delays in the preparation of resource estimate updates; the need for additional financing; operational risks associated with mineral exploration; fluctuations in gold and other commodity prices; title matters; technical and permitting issues; environmental liability claims; insurance matters; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume; the impact of taxation; and general economic conditions. Forward-looking information is based on management's beliefs, estimates and opinions on the date hereof and the Company undertakes no obligation to update any forward-looking information if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking information.

Any historical mineral quantities set forth herein are, unless otherwise indicated, not compliant with National Instrument 43-101.

For further information:

Golden Hope Mines Limited
Frank Candido: President
Tel: 514-750-8218
fcandido@goldenhopemines.com
info@goldenhopemines.com