Golden Hope Mines Settles Debt and Provides Update

About this update from Delta Resources Limited

[{"type":"text","content":"\n\n\nMONTREAL, Nov. 29, 2013 /CNW/ - Golden Hope Mines Limited (TSX VENTURE: GNH)(Pink Sheets: GOLHF) - The Company has decided to settle management fee deferrals, which\n represents $69,688 as at September 30, 2013, by issuing securities.\n Subject to TSXV approval, the Company will issue a total of 1,350,000\n common shares to settle the $69,688 owed to management. This settlement\n allows the Company to preserve cash.\n\n\nIn addition, management has decided to defer all further fees as of\n October 1, 2013.  Because of previous deferrals and reductions, the\n remaining fees so deferred are equivalent to 50% of the fees charged by\n Management in 2012.\n\n\nField update\n\n\nDuring the summer of 2013, the Company was contacted by the Institut\n National de la Recherche Scientific (INRS) for deep geophysical work\n and the developing of its new deep geophysics technology on the\n Bellechasse Belt. The work will mainly be concentrated on the\n evaluation of the Champagne VMS deposit. The Company believes it would\n be interesting to investigate the presence of conductors related to\n massive sulphide lenses with high power geophysics. It would thus be\n possible to assess and precisely define some electro magnetic (EM)\n anomalies detected in the previous VTEM survey. On September 30, 2013\n Golden Hope applied for the subsidized research program with the INRS.\n The Company expects the final decision to be rendered in January 2014.\n Given that the provincial Government subsidizes the work, the cost to\n the Company would be approximately $20,000.\n\n\nThe Bellechasse-Timmins Gold Deposit\n\n\nSince the Fall of 2012, Management has been diligently looking at ways\n of building shareholder value through any means available to it,\n including accretive mergers and acquisitions, as well as a\n comprehensive analysis of the possibility of taking the\n Bellechasse-Timmins Gold Deposit into production. The company will keep\n its shareholders informed of any material developments with respect to\n the aforementioned.\n\n\nStatements Regarding Forward-Looking Information\n\n\nInformation set forth in this news release by Golden Hope Mines Limited\n may contain forward-looking information within the meaning of Canadian\n securities laws. Forward-looking information includes statements that\n relate to future, not past, events. I...

More updates from Delta Resources Limited