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Golden Hope Mines closes oversubscribed non-brokered US$2.9 million private placement

Fasken
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Client

Golden Hope Mines Limited

On May 28, 2010, Golden Hope Mines Limited (TSX VENTURE:GNH) (PINK SHEETS:GOLHF) announced that the overallotment option issued under the private placement that it announced on April 29, 2010 had been partially exercised and, as a result, the private placement had raised total gross proceeds of $2,921,990. 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. Golden Hope will use the proceeds from the offering to advance the exploration on its Bellechasse/Beauce project in Quebec. Golden Hope was advised in this transaction by John Sabetti, Daniel Fuke and Andrew Teehan of Fasken Martineau.

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