Golden Hope Intersects 25 metres of 2.06 g/t Gold and 8 metres of 2.26 g/t Gold Near Surface at Bellechasse-Timmins, Quebec.

Montreal, May 7, 2012 /CNW/ - Golden Hope Mines Limited (TSX VENTURE: GNH) (Pink Sheets: GOLHF) – Golden Hope Mines Limited is pleased to announce significant drill results from its recently completed Winter 2012 drill program at the Bellechasse-Timmins Gold Deposit in southeastern Quebec.

Significant near surface vertical depth results include 3 metres of 1.18 g/t Au and 8 metres of 2.26 g/t Au at 137 meters from surface in hole BD2012-186, 25 metres of 2.06 g/t Au including 5 metres of 9.21 g/t Au at 42 meters from surface in hole BD2012-188, 41 metres of 1 g/t including 6 metres of 3.53 g/t Au and 3 metres of 2.40 g/t Au at 150 meters from surface in hole BD2012-190, 9 metres of 1.82 g/t Au including 7 metres of 2.23 g/t Au at 53 meters from surface in hole BD2012-193 and 3 metres of 12.63 g/t Au including 1 metre of 37.60 g/t Au at 117 meters from surface in hole BD2012-194.

A table of the result highlights is presented below.

Table 1: Highlights from outstanding holes; length represents core lengths and results are not capped.

"We are very pleased with these latest results. Many of the results show significant near surface mineralization all within a vertical depth of 150 metres from surface. These latest results in addition to the results which have been announced in the past few months provide the Company with a clear plan for continued drilling and expansion of the Bellechasse-Timmins Gold deposit for the pending spring, summer and fall drill campaigns" states Frank Candido, President, Golden Hope Mines Limited.

Holes BD2012-188 and BD2012-193 were drilled to test the eastern extension of the 88 Diorite and encountered near surface mineralization. Holes BD2012-190, BD2012-191 and BD2012-194 were planned to define contacts, connect zones and test extensions of zones. Hole BD2012-187 was drilled to test the southwestern extension of the hinge of the "U" shaped 88 Diorite and closed it near surface. Hole BD2012-189 was drilled to test possible presence of other diorite bodies to the south of the 88 Eastern Extension. This hole encountered volcanoclastics and did not return significant results.

Since April 2011, the Company has been working closely with SGS Geostat of Blainville, Quebec towards the publication of its first resource estimate. These are the last of the Bellechasse-Timmins holes outstanding from the Winter 2012 exploration campaign. The company continues to target May or early June 2012 for the release of its resource estimate for Bellechasse-Timmins.

Samples were prepared and analyzed at the SGS Minerals Services laboratories in Don Mills, Ontario. Analysis for gold was done on one half of core samples following standard (FAI525) fire assay routine including extensive preparation of the samples. SGS introduced standards and blanks in the sequence.

Claude Duplessis, Eng and Claude Bisaillon, Eng. are qualified persons (QP) in compliance with National Instrument 43-101 and have reviewed the technical contents of this press release.

James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope in compliance with National Instrument 43-101 and has reviewed the technical contents of this release.