Golden Hope Mines Provides Update on Uragold Bay Resources Option of the Bellechasse-Timmins Gold Deposit

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[{"type":"text","content":"Golden Hope Mines Provides Update on Uragold Bay Resources Option of the Bellechasse-Timmins Gold Deposit(via Thenewswire.ca)\n \n \nToronto, Canada / TheNewswire / Sept 04, 2015 : Golden Hope Mines Limited (\"Golden Hope\" or the \"Company\") wishes to provide an update to shareholders on the Uragold Bay Resources (TSXV:UBR) (\"Uragold\") Option on the 90 hectare \"BT\" or Bellechasse-Timmins claims, which represent a small portion of the 8,000 hectare land position Golden Hope controls in the Beauce and Bellechasse region of Quebec. \n\n\n \nIn order to earn a 30% interest in BT, Uragold was required to obtain all required permits, approvals and documentation associated with going into production, by not later than October 9, 2015. With less than 40 days to complete this work, progress by Uragold to date is incomplete with respect to the following documentation: NI 43-101 resource estimate revision; an economic assessment; an environmental audit; obtaining required authorizations; obtaining a certificate of authorization (\"C.A.\"); a land survey; a reclamation and restoration plan; and a mining lease for the operation of a small mine of up to 600 metric tons of mineral per day. \n\n \n \nOn or about October 10, 2015, if any of the above documentation remains incomplete, Golden Hope intends to serve notice to Uragold that they are in breach of the terms of the Option Agreement, and that the Option will be terminated.\n\n \n \nPlease refer to the Company's press release dated April 15, 2014, for further details about the Agreement.\n\n \n \nThe Company has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company. \n\n \n \nThe market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay $5,000 per month for a period of 12 months. The agreement may be terminated at any time by the corporation or VLP. The corporation and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the ma...

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