Golden Hope Mines Signs Option Agreement with HPQ Silicon Resour ces on the Bellechasse - Timmins Gold Deposit (via TheNewswire)
Golden Hope Mines Signs Option Agreement with HPQ Silicon Resour ces on the
Bellechasse - Timmins Gold Deposit
(via TheNewswire)
Mississauga, Ontario May 23, 2017 Golden Hope Mines Limited ("Golden Hope" or "the Company")
is pleased to announce that it has signed an option agreement with HPQ Silicon Resources Inc. ("HPQ") in
relation to the advancement of the Bellechasse - Timmins gold deposit located in St - Magloire in the Beauce
region of southeastern Quebec.
On March 24, 2017 Golden Hope announced the signin g of a MOU with HPQ Silicon Resources leading to
a new option agreement between the two companies. This new option agreement ends the legal dispute
between the two companies and establishes a new agreement for the advancement of the Bellechasse -
Timmins gol d deposit into a producing mine.
“We are extremely pleased to be moving forward with HPQ and their team on the terms of this new option
agreement. We believe that this new option agreement will benefit both companies and especially our
shareholders. We exp ect to update our shareholders of all advancements and progress as it unfolds.” states
Frank Candido, President, Director of Golden Hope Mines Limited.
Patrick Levasseur, President and COO of HPQ Silicon stated, “I look forward to working with Golden Hope
Mines to advance the B - T gold deposit. It’s exciting to have this opportunity of developing the potential of
the B - T property while we also advance HPQ’s Beauce Gold property both of which are located in the
Bellechase Gold Belt.”
KEY POINTS OF THE NEW O PTION AGREEMENT
1. The New Agreement provides HPQ with an option to earn a 30% undivided interest in the B - T Deposit
by completing, at its cost, a list of actions specified milestones and time deadlines in the New Option
Agreement.
2. The New Option Agreem ent provides HPQ with a further option to earn an additional 20% undivided
interest in the Deposit (total 50%), following the completion of all specified actions, by securing the required
financing to fully fund the commercial production of the Deposit in accordance with an Economic
Assessment.
4. HPQ will subscribe to a private placement financing of GNH in the amount of $150,000 at a minimum
price of $0.20 cents per share within 45 days of this announcement subject to all regulatory approvals.
5. An assig nment of HPQ's rights and obligations under the New Agreement to HPQ's wholly - owned
subsidiary Beauce Goldfields (BGF) may take place upon completion of certain conditions stipulated in the
New Agreement.
6. In the event that HPQ does assign its rights an d obligations under the New Agreement to BGF, GNH
shall receive $50,000 in shares of BGF, subject to required approvals.
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 informati on 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 f orward - 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 b usiness 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 expre ssions (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, t he 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 s uch 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 o f 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 th e 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
www.goldenhopemines.com
Frank Candido, President, Director
Tel: 514 - 969 - 5530
Michael Dehn, Director
Tel: 647 - 477 - 2382