#485116 - Golden Hope Confirms High Grade Intersection of 64.1 g/t Au (Gold) over 1m and Gold Deportment Study results yield up to 96.8% Gold Recovery from Gravity at Bellechasse-Timmins, Quebec.

MONTREAL, May 30, 2012 /CNW/ - Golden Hope Mines Limited (TSX VENTURE: GNH) (Pink Sheets: GOLHF) - Golden Hope Mines Limited is pleased to announce the confirmation of
a high grade intersection in hole BD-2011-184 from 251 to 252 meters.
Although visible gold was noted in the core, previous fire assay
analysis results did not detect significant presence of the gold
visible in the core.

SGS Geostat had requested two separate screen metallic analysis on the
rejects of the original sample from 251 to 252 meters in hole
BD2011-184. The screen metallic analysis on 0.86kg of reject yielded
105 g/t Au and the remaining 0.4kg of reject returned 82 g/t Au for an
average grade of 93.5 g/t Au. The original fire assay reported in a
previous press release on April 18, 2012 gave 0.89 g/t Au.

Two additional fire assays on the original pulp done prior to the screen
metallic analyses returned 0.22 g/t Au and 0.12 g/t Au for an average
fire assay grade of 0.41 g/t Au. The weighted average of all the fire
assays and screen metallic assays from this 1-metre section in hole
BD2011-184 is 64.1 g/t Au.

Golden Hope is also pleased to report on a gold deportment study carried
out by Dr.Tassos Grammatikopoulos, P.Geo. and Senior Process
Mineralogist for SGS Lakefield on two composites samples taken from
Bellechasse-Timmins. The Gold Deportment Study was performed to
determine the gold characteristics; occurrence, grain size, liberation
and association with other minerals.

Samples were selected from hole BD2011-159 ("Composite Sample 1") from
30 to 33 meters interval and from hole BD2011-157 ("Composite Sample
2") from 20 to 24 meters interval with both samples having back
calculated grades using the Gravity Recoverable Gold process ("GRG") of
0.49 g/t and 4.78 g/t respectively.

Length-weighted gold grams recovered from fire assay is 16.84 grams
compared to 20.59 grams recovered by GRG; an increase of 22% in metal
content for the compared samples. Table 1 below outlines an impressive
95.6% and 96.8% of the gold is recovered from Sample 1 and 2
respectively using the GRG process.

Table 1: Mass Balance and Au Distribution of Knelson Concentrates and
Tails

In the first Composite Sample 1, 106 gold grains were observed and range
in size from <1 to 255 µm with an average of 18µm. In Composite Sample
2, 228 gold grains were observed and range in size from <1 to 255 µm
with an average of 10 µm.

In the Composite Sample 1, approximately 61% of the gold grains occur as
liberated, 36% as exposed and 3% as inclusions (locked) in sulphides,
oxides and non sulphide gangue. In the Composite Sample 2,
approximately 42% of the gold grains occur as liberated, 55% as exposed
and 3% as inclusions (locked) in sulphides, oxides and non sulphide
gangue.

The main gold mineral is native gold (native Au-Ag alloy, with Au >75%,
Ag <25%) for both samples. Semi-quantitative analysis of the gold
grains indicates yields of 86.8% Au and 10.8% Ag in Composite Sample 1,
and 88.4% Au and 9.5% Ag in Composite Sample 2.

"We are extremely pleased with the results of our latest Gold Deportment
Study and the technical information regarding the gold characteristics
from these composite near surface samples. The gold deportment study
further demonstrates that a majority of the gold at Bellechasse-Timmins
may be recoverable by gravity process further demonstrating the
economic potential of the deposit." states Frank Candido, President,
Golden Hope Mines Limited.

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