Golden Hope Affirms Its Intention to Terminate the Uragold Bay Resources Option Agreement.
Toronto, ON / TheNewswire / September 21, 2015: Golden Hope Mines Ltd. ("Golden Hope" or the "Company") wishes to ensure that shareholders and investors have accurate and up to date information on the Uragold Bay Resources (TSX/V:UBR) ("Uragold") Option on the 90 hectare Bellechasse-Timmins gold deposit or "BT" claims, which represents a small portion of the total land position Golden Hope controls in the Beauce and Bellechasse regions of Quebec.
Under the Option Agreement, to obtain a 30% interest in BT, Uragold is required to obtain all required permits, approvals and documentation associated with going into production by October 9, 2015. Please refer to the Company's press releases dated September 4, 2015 and April 15, 2014.
Golden Hope has complied with its obligations in relation to the Option Agreement but Uragold's obligations remain incomplete. On October 10, 2015, if any of the required work by Uragold under the Option Agreement is incomplete, Golden Hope intends to send notice to Uragold that they are in breach of the terms of the Option Agreement, and that the Option will be terminated. Golden Hope will vigorously defend its right to effect such termination.
About Golden Hope Mines Limited:
Golden Hope Mines Ltd. is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of gold and base metal projects suitable for underground and/or open-pit mining. The company's focus is currently in southeastern Quebec, Canada. The company's claim blocks lie within an area that extends approximately 100 kilometres along the Appalachians of southeastern 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. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.
Frank Candido President, Director
514-969-5530
fcandido@goldenhopemines.com
www.goldenhopemines.com
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