GNH Golden Hope Mines Limited

Golden Hope Mines Limited (TSX VENTURE:GNH)(PINKSHEETS: GOLHF) - Golden Hope
Mines Limited ("GNH, or the Company") is pleased to announce that it has signed
a Letter of Intent ("LOI") with Uragold Bay Resources ("UBR") (TSX VENTURE:UBR)
to advance the Bellechasse-Timmins Gold Deposit ("B-T") in the development of a
producing mine. UBR will be responsible for obtaining all required permits,
approvals, and documentation associated with going into production, in return
for a 30% interest in B-T. UBR will then have 120 days to obtain project
financing, which, if successful, will earn UBR a further 20% interest, giving
them a 50% interest in 

B-T. The companies will then form a Joint Venture (JV) for the operation of the
mine, with UBR serving as operator. GNH will have a carried interest into
production, and will receive a 50% Net Proceeds Royalty ("NPR") on the gold
produced.


The LOI states that UBR can earn up to a 30% undivided interest in the B-T by
performing, completing and delivering the following work and documentation
within 18 months of the signing:




--  $100,000 paid to GNH within 6 months of the date of the signing of the
    LOI in three equal tranches. The first tranche of $33,000 was paid upon
    the signing of the LOI 
--  A review of the previously published NI 43-101 Resource Estimate for
    gold at Bellechasse-Timmins in southeastern Quebec by a qualified
    person(s) or firm of qualified persons as defined by NI 43-101 Standards
    for Disclosure for Mineral Projects 
--  UBR will mandate a Qualified Mining Engineering Firm for a Preliminary
    Economic Assessment ("PEA") with respect to the production of the gold
    deposit including CAPEX, OPEX, IRR, NPV, Mining Plan, Geotechnical
    Assessment of pit, overburden stockpiles and tailings, etc. 
--  An Environmental Audit in accordance with Directive 19, Article 22 of
    the "Loi sur la qualite de l'environnement" by an independent qualified
    consultant, which shall include a study of the property and the
    environmental impact of mining activities. 
--  A Certificate of Authorization ("CA") from the municipality of Saint
    Magloire. 
--  A Certificate of Authorization ("CA") from the Ministere de
    l'Environnement for the permitting of a small scale gold production of
    2000 metric tons of material per day. 
--  A Land Survey by a qualified Surveyor ("arpenteurs-geometres") which
    will be filed for approval with the Bureau de l'arpenteur general du
    Quebec. 
--  A Mining Lease from the Ministere de Ressources naturelles et de la
    Faune du Quebec ('MRNF") for the operation of a gold mine. 
--  A Reclamation and Restoration Plan approved by MRNF



UBR shall bear all the costs associated with the work listed above.

UBR may also earn an additional 20% undivided interest (for a total of 50%) if
it provides all of the required financing to fund the start of production of
B-T, as set out in and according to the PEA Plan, not later than 120 days after
the successful completion and issuance of the initial 30% interest.


This transaction will be binding upon:



1.   The approval of the Board of Directors of both GNH and UBR. 
2.   Receipt of the first tranche of $33,000 
3.   All required regulatory approvals. 
4.   A definitive agreement to be concluded within 45 days.



Frank Candido, President and CEO of Golden Hope Mines, remarks, "We are very
pleased with this Letter of Intent entered into by two companies with an equally
vested interest in gold exploration and development in southeastern Quebec. GNH
has been entertaining potential offers to move towards production since the
publication of its first resource estimate in mid 2012. We believe that the
nature of the gold deposit, the location of the property, the support from the
municipality of Saint-Magloire, Quebec and the local infrastructure all make for
an excellent opportunity to bring profitable gold production back to
southeastern Quebec. Our excellent relationship with the UBR Management has
always been cordial and we have always looked to work together to advance our
common interests. This Letter of Intent and Joint Venture Agreement is simply an
extension of that co-operation." 


"We believe that this agreement is a very positive development for the Company
and its shareholders. If all of the terms of the agreement are met, Golden Hope
Mines will have a carried interest into production, and will then receive a 50%
NPR on the gold produced. Shareholders will then realize the true value of the
gold resources at Bellechasse-Timmins."


Patrick Levasseur, President and COO of Uragold Bay Resources remarks: "We are
extremely pleased that our offer was chosen by GNH and that we will become a
partner in the development of the Bellechasse-Timmins gold deposit. We look
forward to working with GNH and its President Frank Candido, who has done a
fantastic job in developing the project and bringing attention to southeastern
Quebec. GNH are the pioneers in the exploration of this area and the leaders in
the development of a gold deposit in the Beauce region of Quebec."


A feasibility study has not been completed and there is no certainty the
proposed operation will be economically viable


Resignation of Arvind Jain

Golden Hope Mines also announces that Arvind Jain will be resigning from the
Board of Directors effective February 28, 2014. Mr. Jain has recently retired
from his position as Vice-President of Strategy and Investment at Rio Tinto
Alcan and looks forward to spending more time with his family in San Francisco,
California. The entire Golden Hope Mines team would like to thank Mr. Jain for
all his help, insight and advice during his time on the Board.


Condolences to Bob Rose

The Board of Directors of Golden Hope Mines would also like to extend its
sincerest condolences to the family of Mr. Bob Rose of Dominick and Dominick in
Toronto, Canada. Mr. Rose has always been a strong believer in the
Bellechasse-Timmins gold deposit and his support has always been appreciated.


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, not compliant with National Instrument 43-101.


About Golden Hope Mines Limited

Golden Hope Mines Limited 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 Quebec, Canada.
The company's claim blocks lie within an area that extends approximately 100
kilometres along the Appalachians of southern Quebec from near
Ste-Lucie-de-Beauregard to about 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 Mines Limited please visit www.goldenhopemines.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Golden Hope Mines Limited
Frank Candido
President, Director
514-750-8218
fcandido@goldenhopemines.com / info@goldenhopemines.com
www.goldenhopemines.com

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