Tickers: PINX:GOLHF, XTSX:GNH
Tags: Mining
TSX VENTURE: GNH OTC: GOLHF Frankfurt: 6G01
Mississauga, Ontario / TheNewswire / July 17, 2017 Golden Hope Mines Limited ("Golden Hope" or "the Company") is pleased to announce HPQ Silicon Resources Inc. ("HPQ") has decided to not proceed with the option agreement in relation to the Bellechasse-Timmins ("B-T") gold deposit located in St-Magloire in the Beauce region of Quebec. "Having 100% of the B-T project back potentially allows us to move forward with the original execution plan announced on November 26, 2015, and November 2, 2016. Management is currently reviewing and optimising the execution plan. Moving forward without a partner will provide our stakeholders with all the upside of the project. B-T is only a piece of Golden Hope's land position in the Beauce region of Quebec. The Company believes there may be several other B-T style deposits yet to be identified within the current land position held by the Company", states Frank Candido, President, Golden Hope Mines Limited.
A Preliminary Economic Assessment and a Feasibility Study has not been completed and there is no certainty the proposed operation will be economically viable or mineable.
About Golden Hope:
Golden Hope Mines Limited is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of gold suitable for underground and/or open-pit mining. The company's focus is currently in southeastern Quebec, Canada. The Bellechasse-Timmins gold deposit lies 5 kilometres southeast of St-Magloire within the Bellechasse Belt, an approximately 18 kilometre long mineralized area. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.
Statements Regarding Forward-Looking Information:
Information set forth in this news release by Golden Hope Mines Limited 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. Specifically relating to possible mining of the Bellechasse-Timmins gold deposit, the Company must obtain specific permits beyond the Certificate of Authorization; may complete additional exploration and development work; and obtain appropriate financing before mining may begin. 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, are not compliant with National Instrument 43-101.
Golden Hope Mines Limited
Frank Candido, President, Director
Tel: 514-969-5530
Michael Dehn, Director
Tel: 647-477-2382
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