Golden Band Resources Inc. - High-Grade Gold Intercepted at Depth in Roy Lloyd Mine GBN.v

  It looks like life is finally coming back into the Junior Miners now. Some of them are popping up with the big bang like Bitterroot Resources yesterday and some are producing steady results like Golden Band Resources. Legendary Ron Netolitzky is behind the company, but even his "Golden Touch" could not prevent the recent blood bath in the junior sector for the GBN.v

  With Gold marching higher after Break Out, valuations for the Juniors are just totally out of any connection to the assets base and real value of the portfolios - basically almost everything is priced at the verge of potential bankruptsy. Trick is to find the Next Play - nobody like to miss even anything close to Gold Quest.

Nickel, Copper, PGM - Bitterroot Resources Has Its Fireworks Today BTT.v

"We guess that after all the Fear nobody likes to miss another Gold Quest in the making - that discovery story is the only one - but so many Juniors were totally forgotten and Slaughtered this summer that any vital signs can drive the crowd and expectations again.

  Everybody is chasing the same question now - who could be in Play next? Who can strike the new discovery, attract J/V partner or become a Target for M&A?"

Gold: The Best Charts and Fundamentals - Prepare For The Fireworks In Junior Miners

"We would like to share with you today the best Charts and articles, which has caught our attention recently - it is the case when the good picture is better than thousand words - some of them are screaming about the best Entry Opportunity in years we are following these markets."

Golden Band Resources Inc. - High-Grade Gold Intercepted at Depth in Roy Lloyd Mine

GBN: TSX Venture Exchange
OTCQX: GBRIF

SASKATOON, Sept. 5, 2012 /CNW/ - Golden Band Resources Inc. (Golden Band or the Company) (GBN: TSXV; OTCQX: GBRIF) is pleased to announce that drilling has intercepted significant bonanza grade gold mineralization on the Company's Roy Lloyd Mine (Bingo gold deposit) in northern Saskatchewan. Hole RLUG-27, intercepted 8.17 metres (true width 6.5 m) averaging 66.85 grams per tonne gold.

The bonanza gold mineralization was intercepted 255 metres deeper than the lowest mining level in the Roy Lloydgold mine, further confirming potential for deep extension of economic mineralization.

HOLE No.		INTERVAL m	CORE LENGTH m	TRUE WIDTH m	g/t GOLD
RLUG-27		233.06 - 241.23	8.17	6.51	66.85
	including	234.00 - 240.79	6.79	5.41	80.12
	including	238.14 - 240.79	2.23	1.78	128.37

The drill program is designed in part to define minable resources within the Bingo Structure below the 1175 elevation, which is the lowest active level of the Company's Roy Lloyd gold mine.  Recent drill results and historic data are being utilized to define a new resource below the 1175 level.

Matt Conklin, Golden Band's Vice President of Operations, stated, "Golden Band is very pleased with these and the overall results of the summer surface and underground drilling campaigns at the Roy Lloyd Mine. We are compiling the surface and underground program data and will provide the complete results as quickly as possible, followed by an updated resource estimation for the Roy Lloyd mine."

Mr. Saimon Ngindi, P.Geo., Senior Resource Geologist and Qualified Person as defined by National Instrument 43-101, is responsible for the accuracy of the technical data and information contained in this press release.

About Golden Band

Golden Band Resources, already Saskatchewan's leading gold explorer, is now also its newest gold producer. Golden Band is a Saskatchewan-based, publicly listed company (GBN: TSXV) whose focus is the long-term, systematic exploration and development of its 100%-owned La Ronge Gold Belt properties. Since 1994, Golden Band has assembled through staking and strategic acquisition a land package of more than 870 km², including 12 known gold deposits, four former producing mines, and a licensed gold mill. Golden Band's key value drivers are the methodical and systematic targeting of primary to advanced-stage exploration while progressing along a parallel path of being a sustainable gold producer. The Company is aggressively pursuing its near-term goal of commercial production of its Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill. The Company's objective is the annual production of at least 75,000 ounces of gold over a ten-year project life. Other longer-term objectives include the continuation of its highly successful exploration and acquisition strategies.

On behalf of the Board of Directors of Golden Band Resources Inc.,

"Rob Garden"
A.Robson Garden, QC
President and CEO

Caution Regarding Forward-Looking Information and Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the mine properties, estimates of production, costs of production, the sufficiency and availability of capital and financing and other future plans, objectives or expectations of Golden BandResources Inc. (Company) are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Golden Band Resources Inc.

For further information:

Rodney Orr, P.Geo., VP Corporate Development
Golden Band Resources Inc.
Phone: 306 385 7123 | Fax: 306 955 0788
Email: rodney.orr@goldenbandresources.com

Investor Relations: 
Raju Wani: 403 240 0555 | Tony Perri: 604 682 6852
Email: info@goldenbandresources.com
www.goldenbandresources.com

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company

Golden Band Resources Discovers New Gold Prospects in Very Successful Summer Exploration Program ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax

  This Ron Netolitzky's Gold play in Canada slowly is waking up - we will see soon whether it can regain respect from the market due to its Chairman and his legacy.

"We are searching for the value among the bitten into the dust by the recent market panic juniors. Strong portfolios, solid management and special situations are the name of this game today as usual.

  The Fear and Panic will pass and the recent turmoil provides another opportunity to accumulate your favorite plays among the Juniors in Gold, Silver, Lithium, REE and Copper. If you have people with money involved in the game your chances for reward will be even more higher. Chinese players with their appetite to secure resources can make not only REE and Lithium plays interesting, but even such a dull and out of love commodity as Zinc can be transformed into the promising value M&A plays."

Golden Band Resources Discovers New Gold Prospects in Very Successful Summer Exploration Program

Saskatoon, Saskatchewan, September 7, 2011. Golden Band Resources Inc. (TSX-V: GBN) is pleased to announce the preliminary results for its summer exploration bulk till sampling program that was focused in a five km radius of the Company’s Komis and EP mine sites in the Upper Waddy Lake area of the La Ronge Gold Belt.

This summer’s exploration program has been especially successful with the identification of at least three new gold prospects and several more targets in an area that is already the focus of near-term mining development by the Company. Following are the preliminary highlights, with the locations of specific follow-up targets illustrated on the accompanying map (Figure 1).

Follow-up diamond drilling in several phases on the gold-in-till targets will start this month.

Fireweed Prospect

A total of 201 detailed till samples were collected, with three medium to strongly anomalous sites for gold identified over a strike length of 250 metres (Figure 1). The strongest, with 36 gold grains per kilogram (gg/kg) and 1,770 ppb gold in the fire assay of the fine fraction, was immediately followed-up by bulldozer and excavator trenching, exposing an east-west trending gold-mineralized shear zone that is currently exposed for 36 metres along strike and that remains open along strike in both directions (Figure 2 and in photos on the Company's website).

The initial two highly weathered rock samples from the eastern end of the showing returned 9.07 g/t gold from a vein quartz (sample FW-01-11) and 14.32 g/t Au from a shear zone (sample FW-02-11).

Channel samples were then cut over the exposed 36-metre length of the showing (Figure 2) with the best initial assay returning 3.06 g/t gold over 6 metres, including 8.17 g/t gold over one metre. The initial fire assay results are provided in Table 1.

These results are very encouraging and indicate that follow-up drilling is expected to start during September.

Big M Prospect

This gold-in-till anomaly located 1.5 km north of the Komis and EP mine sites (Figure 1), was originally identified by the Company in 2003. This summer, 93 detailed follow-up till samples were collected, with the best returning a very anomalous 68 gg/kg and 454 ppb gold in the fine fraction fire assay. The target is covered by up to 5 metres of lacustrine clays, but appears to be close to the bedrock source. Follow-up drill holes have been spotted for the initial testing of this target in September.

Bean Lake Prospect

This summer, the target was followed up by about 150 till samples at very close intervals. The best samples returned strong anomalous values in the range of 10 to 12 gg/kg. Assays of the fine fraction are not yet available. The source is likely only a few tens of metres up ice. A narrow sulphide mineralized quartz vein within a diorite dyke found nearby returned an assay of 3.2 g/t gold. Follow-up drilling is warranted.

This gold-in-till dispersion train, located four km south of the Komis mine (Figure 1), had the first anomalous till samples discovered in 2009. The prospect area is underlain by the small Bean Lake diorite stock. The pebbles of the anomalous till samples indicate hematization of the diorite and the presence of quartz.

Round Lake Area

The potentially most significant exploration discoveries of 2011 were made within the Round Lake and Dog Creek diorite stocks (Figure 1). Both of the Company’s Komis and EP gold deposits are east of the Round Lake stock and have been associated with late hydrothermal mineralizing activities within the Round Lake stock.

During the past summer, close to 500 till samples were collected over the stock with an excavator with a seven-metre boom that easily penetrated the clay cover. Several strong to very strong and extensive gold-in-till anomalies have been discovered.

One anomaly, named "301 Pit" is only 300 metres south west of the Komis mine. This area is covered by 1.5 m of till overlain by another 1.5 m of clay. The gold grain count returned 52 gg/kg and the assays of the fines are still pending.

Trenching to bedrock revealed numerous hematized diorite cobbles with ribboned quartz. Fifty hematized diorite and 10 quartz pebbles (between 5 and 9 mm in diameter, 180 g in weight) assayed 2.2 g/t gold at the Company’s Jolu assay lab. Because of high ground water, no observations could be made about the attitude of the quartz veins. Either additional trenching using a sump pump or diamond drilling is required for further follow up of this showing.

In addition to this "301 Pit", at least five more gold-in-till anomalies have been discovered in various parts of the Round Lake and Dog Creek diorite stocks (Figure 1). Only areas with multiple samples exceeding 10 gg/kg are shown. Many individual pits returned gold grain counts in the 20- to 40-gg/kg range and the first assay returns indicate a gold content of 200 to 300 ppb in the fines. Common to all anomalies is the presence of quartz and hematized diorite pebbles. Significant additional work, trenching, sampling and drilling are required to follow up on these new anomalies.

Other Areas

The balance of the till samples were taken from several other areas (Contact Lake, Earl-Kidney Lake, A-Zone and Old Komis Road) and some have returned encouraging results, and additional work is needed.

The Company is also undertaking mapping and prospecting within the North Lake Project and this will continue through September.

Bulk Till Sampling Program Details

Between June 21 and August 30, 2011, 1,340 bulk till samples were collected and processed in the in-field lab at the Company’s Waddy Lake exploration camp. Previous work has established that 3 to 5 gold grains per kilogram (gg/kg) are anomalous.

A major advantage of the in-field lab processing is that the gold-grain anomalies can be followed up within one day, whereas the commercial labs have long turnarounds such that those results often cannot be followed-up until a later field season.

Gold-in-till anomalies are especially encouraging within overburden-covered terrain, as they are direct indications of mineralized systems that contain gold, as compared to indirect methods such as geophysics that cannot detect gold directly.

In addition to the recovery of gold grains that is done in the Company’s in-field laboratory, the fine fractions of the till samples are also assayed for gold in a commercial laboratory.

Assays were completed at both the Company’s non-accredited Jolu Mill assay lab and at the Saskatchewan Research Council Geoanalytical Laboratories.

QA/QC

The Company's Jolu Lab assay lab is a non-accredited facility. Results are based on the Standard Fire Assay method and utilization of a 30-gram assay charge. The final results for this program include check assays of the significant intervals. Standard Fire Assay results greater than 3 g/t gold were re-assayed using the Screened Metallic Assay method for the significant intervals. The quality assurance/quality control of the assay results was monitored by a series of sample standards and sample blanks that Golden Band routinely inserts into the sample sequences.

The Standard Fire assays done by the Saskatchewan Research Council Geoanalytical Laboratories are in accordance with ISO/IEC 17025:2005 (CAN-P-4E) Standards. The quality assurance/quality control of the assay results was monitored by a series of sample standards and sample blanks that Golden Band routinely inserts into the sample sequences.

About Golden Band

Golden Band Resources, already Saskatchewan's leading gold explorer, is now also its newest gold producer. Golden Band is a Saskatchewan-based, publicly listed company (TSX-V: GBN) whose focus is the long-term, systematic exploration and development of its 100%-owned La Ronge Gold Belt properties. Since 1994, Golden Band has assembled through staking and strategic acquisition a land package of more than 875 km2, including 12 known gold deposits, four former producing mines, and a licensed gold mill. Golden Band's key value drivers are the methodical and systematic targeting of primary to advanced-stage exploration while progressing along a parallel path of being a sustainable gold producer. The Company is aggressively pursuing its near-term goal of commercial production of its Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill. The Company’s objective is the annual production of at least 75,000 ounces of gold over a ten-year project life. Other longer-term objectives include the continuation of its highly successful exploration and acquisition strategies.

On behalf of the Board of Directors of Golden Band Resources Inc.,

"Ronald K. Netolitzky"

Ronald K. Netolitzky, Executive Chairman"

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Golden Band Resources Acquires Cameco’s Preview Lake and Little Deer Lake Gold Projects in the La Ronge Gold Belt ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax

"US Dollar Collapse: Inside Job: S&P Downgrades US Long Term Debt to AA+, Outlook Negative. Once the panic settles we will see flight to the Real assets, China will not be able to diversify all 1.2 Trillion holdings in US Treasuries, but the gradual transition will be in place - new world currency will be the Hard one based on Gold, Silver, Copper and access to strategic commodities like Oil, Lithium and REE. We are expecting that first the gold Majors will properly reflect the Gold valuation in their market caps and after that liquidity will go downstream into the Gold and Silver Juniors. Copper juniors will be at the mercy of the M&A consolidation game again and Lithium will show its truly strategic status with every uptick in the Oil price again."

  We are searching for the value among the bitten into the dust by the recent market panic juniors. Strong portfolios, solid management and special situations are the name of this game today as usual.

  The Fear and Panic will pass and the recent turmoil provides another opportunity to accumulate your favorite plays among the Juniors in Gold, Silver, Lithium, REE and Copper. If you have people with money involved in the game your chances for reward will be even more higher. Chinese players with their appetite to secure resources can make not only REE and Lithium plays interesting, but even such a dull and out of love commodity as Zinc can be transformed into the promising value M&A plays.

Golden Band Resources Inc. (GBN:TSX-V) is Saskatchewan's newest Gold Producer. Located in the La Ronge Gold Belt of northern Saskatchewan, GBN has over 775 km2 of claims with 12 known gold deposits and 4 former producing mines. Production has begun at the Roy Lloyd Mine (Bingo Deposit), to be followed initially by our EP and Komis properties. Development of the underground infrastructure at the Roy Lloyd Mine is continuing and on schedule. Production from these deposits will feed our centrally located and 100% owned Jolu mill. We have our provincial environmental permits in place, and we have an established infrastructure including a 400 tonne-per-day mill, year-round road access, and access to grid power. Construction of the grid power line and the above ground tailings facility are now complete.

Golden Band Resources presentation.

Golden Band Resources Acquires Cameco’s Preview Lake and Little Deer Lake Gold Projects in the La Ronge Gold Belt

Saskatoon, Saskatchewan, August 23, 2011. Golden Band Resources Inc. (TSX-V: GBN) (the Company) announced today that it has agreed to purchase Cameco Corporation’s interests in the Preview Lake and Little Deer Lake projects within the southern La Ronge Gold Belt. These properties are 60 kilometres north of La Ronge along Highway 102, near to the former Contact Lake mine which is six km by road from the highway, thereby providing excellent access for exploration in the area. The properties are 40 km by highway south of Golden Band’s operating Roy Lloyd gold mine (Bingo deposit) and 85 km south of the Company’s Jolu gold mill, which has been in production since January.

These two projects saw considerable exploration by Cameco (and its predecessor company, SMDC) dating back to 1979, which led to their discovery of the Contact Lake gold mine in 1989. Golden Band believes that there is considerable exploration potential in these claims given their proximity to the former Contact Lake mine. The total area being acquired is 10,099.7 hectares (17 dispositions covering 8,696.5 at Preview Lake; 1,403.2 ha in one claim at Little Deer). The Cameco interests that are being acquired in this transaction are 66.66% in the Preview Lake property and 50% in the Little Deer claim. There is an existing joint venture on Little Deer, with Cameco’s partner having a 30-day right of first refusal to match Golden Band’s offer on that one claim.

"These acquisitions represent another excellent opportunity for Golden Band to secure additional resources for our long-term production plans in the La Ronge gold belt", noted Ronald Netolitzky, Golden Band’s Chairman. "Given our long-term focus and strategy of consolidating the best ground in this past-producing gold belt, these properties offer excellent exploration and development potential that meshes very well with our plans to add to our pipeline of available resources for both near-and long-term gold production in the La Ronge Gold Belt."

Numerous known gold occurrences, some dating to the 1930s, are being acquired by Golden Band with this purchase. The Company will receive SMDC/Cameco’s historical exploration files from their work that totalled some $24.5 million. The claims are in good standing, with assessment work credits on much of the land until 2023. Although located within the Lac La Ronge Provincial Park, mineral exploration and development is permitted within a provincially defined Mineral Disposition Zone. As with all of Golden Band’s other activities in the La Ronge Gold Belt, it will consult on its exploration plans and future developments with the Lac La Ronge Indian Band on whose traditional lands the Company is working.

Gary Haywood, Golden Band’s VP of Operations, was Cameco's Mine Superintendent at the Contact Lake mine. Gary says, "This acquisition by Golden Band of the Preview and Little Deer properties from Cameco is very welcomed as it provides excellent exploration-stage ground within reach of the past-producing Contact Lake gold mine. While considerable exploration work will be required, the potential for additional gold resources within the immediate area of the mine and beyond is without question."

Opened in January 1995, the Contact Lake mine had published reserves of 499,000 ounces of gold (1.62 million tonnes at a grade of 9.6 g/t gold or 0.28 oz/ton gold). Cameco has reported that, during its mine life, Contact Lake produced 190,000 ounces of gold, and that the mine was closed in 1997 as the orebody was depleted. As further evidence of Golden Band’s in-house experience with the project area, John Tosney, now a Golden Band Director, was involved for SMDC/Cameco in the feasibility study, environmental assessment, licensing, construction, operations, and early decommissioning of the Contact Lake mine.

About Golden Band

Golden Band Resources, already Saskatchewan's leading gold explorer, is now also its newest gold producer. Golden Band is a Saskatchewan-based, publicly listed company (GBN: TSXV) whose focus is the long-term, systematic exploration and development of its 100%-owned La Ronge Gold Belt properties. Since 1994, Golden Band has assembled through staking and strategic acquisition a land package of more than 775 km2, including 12 known gold deposits, four former producing mines, and a licensed gold mill. Golden Band's key value drivers are the methodical and systematic targeting of primary to advanced-stage exploration while progressing along a parallel path of being a sustainable gold producer. The Company is aggressively pursuing its near-term goal of commercial production of its Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill. The Company’s objective, supported by a positive Pre-Feasibility Study completed in January 2009, is the annual production of at least 75,000 ounces of gold over a ten-year project life. Other longer-term objectives include the continuation of its highly successful exploration and acquisition strategy.

On behalf of the Board of Directors of Golden Band Resources Inc.,

"Ronald K. Netolitzky"

Ronald K. Netolitzky, Executive Chairman

For further information please contact:

Rodney Orr, VP of Corporate Development,

Golden Band Resources Inc.

Phone: 306 385 7123

Fax: 306 955 0788

Email: rodney.orr@goldenbandresources.com

Investor Relations:

Raju Wani: 403 240 0555

Tony Perri: 604 682 6852

Email: info@goldenbandresources.com

www.goldenbandresources.com"

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Gold in Canada: Golden Band still expects gold production in Q4 GBN.v, GRC.to, TNR.v, GG, NGQ.to, SGC.v, KTN.v, AMM.to, BTT.v, BVA.v, BVG.v., MAX.to, NEM, ABX, FCX, BVN, AUY, HUI, XAU, GDX

"Last few weeks we are hearing a lot of voices about the currency war, when all governments are trying to debase their currencies again each other. So far they are all successful in driving Gold up against all Fiat currencies.

US Dollar will have it's own destiny here: General Bernanke is winning his war against deflation. US corp. With it's total obligations above 100 Trillion dollars will have to debase it currency not only against Gold on par with other Fiat currencies, but also against other fiat currencies. We will remind you the basic math about inflation economics and the value of Debt."

 

   Another forgotten junior in Canada is coming back to life - Golden Band Resources is on track to start production from is La Ronge gold project. Share price does not reflect yet this significant transformation in this Junior's business cycle in our opinion. With recent gold price run gold in the ground with past producing mines will be reevaluated to the upside in the near future.

   Golden Band Resources Inc. (GBN:TSX-V) is Saskatchewan's Next Gold Producer. Located in the La Ronge Gold Belt of northern Saskatchewan, GBN has over 750 km2 of claims with 12 known gold deposits and 4 former producing mines. We're poised to begin gold production in the 4th quarter of 2010, beginning with our Bingo deposit, to be followed initially by our EP and Komis properties. Development of the underground infrastructure at the Bingo deposit is on schedule. Production from these deposits will feed our centrally located and 100% owned Jolu mill. We have our provincial environmental permits in place, and we have an established infrastructure including a 400 tonne-per-day mill, year-round road access, and access to grid power. Construction of the grid power line and the above ground tailings facility are underway.

Golden Band still expects gold production in Q4

2010-10-13 09:40 ET - News Release

Mr. Ronald Netolitzky reports

GOLDEN BAND RESOURCES' LA RONGE GOLD PROJECT ON TRACK FOR Q4 PRODUCTION START

Golden Band Resources Inc. has provided a progress update for the La Ronge gold project. The project remains on track for the start of gold production in the fourth quarter of 2010.

Bingo deposit exploration development

The company has received final assay data from face chip samples taken from the exploration drifts on the 1355 level and 1340 level (see news in Stockwatch on Aug. 18, 2010), and have updated the grade and tonnage estimates of the development muck stockpile.

To date, a total of 8,805 tonnes of high-grade gold mineralized material has been stockpiled from the Bingo deposit with an average grade of 15.02 grams per tonne (g/t) gold based on underground face chip sample assays. The company now estimates a high-grade stockpile gold content of 4,250 ounces (see news in Stockwatch on July 13, 2010).

A further 11,800 tonnes of low-grade material with an average grade of 4.39 g/t gold has been stockpiled. The low-grade stockpile will be transported to the Jolu mill for processing during the commissioning phase of the operations.

A continuous chip sampling method was used for each development face, using a pneumatic hammer to collect a one- to two-kilogram sample from each discreet sample intersection across the face. Upper and lower sample lines on each face, usually consisting of several one-metre-long samples, resulted in at least six assays per face. The round-by-round faces are usually three to four metres apart along the ore drift. Samples were sent to the Saskatchewan Research Council and TSL Laboratories in Saskatoon and assayed for gold content using the standard fire assay and screened metallics methods.

Composite assay data from the sampling program are shown in the tables for each ore drift, and are calculated for a minimum mining width of 2.0 metres. Where the mineralization exceeded the minimum mining width, the actual measured mineralized width was used to calculate the composite assay grade.

BINGO GOLD DEPOSIT: 1355 LEVEL FACE SAMPLING COMPOSITE ASSAY RESULTS

Face sample locations for each level can be viewed on the company website, with each plan showing the top-of-face and bottom-of-face sample lines, and the mineralized structure of the Bingo deposit.

The current phase of preproduction development is well under way with completion of the decline extension down to the 1265 level, at a depth of 120 metres below surface. Development of the 1265 level access crosscut has been completed and development of the main fresh air raise is well under way.

Surface construction is nearing completion with the installation of permanent facilities including office facilities, workshop and warehouse. A main ventilation fan and mine air heater will be installed by the end of October, 2010. Mining of the Bingo open pit is also under way, with removal of the first bench of overburden nearing completion. The subcrop of the Bingo deposit has been exposed and is being sampled and assayed prior to mining of the second bench.

Jolu mill refurbishment and construction

Progress on the Jolu mill refurbishment and construction of associated infrastructure is well advanced and remains on schedule for a fourth quarter production start.

Gary Haywood, vice-president of operations and chief operating officer, reports: "We have taken delivery of most of the major items that were either refurbished or purchased new and we have started the process of putting the plant back together for operational readiness. The very detailed assessment and engineering work we completed prior to starting refurbishment is now paying off, as the work has proceeded as planned."

Construction of the above ground tailings management facility is nearing completion, as is construction of the assay lab, offices and workshop. SaskPower has completed construction of the grid power line to site and the company is in the process of re-establishing power supply to the site transformers and associated site power distribution network. Photos of the progress of the construction and refurbishment work can be viewed on the company website.

Komis/EP mine development

The company is pleased to report that construction and site preparation of the Komis/EP site has commenced in preparation for open pit mining of the EP gold deposit late in the fourth quarter of 2010. The access road is being upgraded, brush clearing and ground levelling is under way and construction of surface water settling ponds is nearing completion. It is anticipated that by the end of October, the site will be ready for Kitsaki Procon JV to commence mobilization of the mining equipment and crews.

Golden Heart project

The company is pleased to report that it has submitted a project proposal to the Saskatchewan Ministry of Environment detailing the company's plans to develop an open pit and underground gold mine at the project site in 2013. Preliminary open pit design estimates the extraction of 162,000 tonnes of the potential minable portion of the measured and indicated resources, at an estimated grade of 4.07 g/t gold, and an overall strip-ratio of 7.33:1. Preliminary underground mine design is in progress.

It is expected that the company will be required to submit a further environmental impact study for the proposed development, so the necessary environmental baseline data collection has already been completed in anticipation of that requirement.

All of Golden Band's development-related programs and pertinent disclosure of a development nature are prepared and/or designed and carried out under the supervision of Gary Haywood, PEng, Golden Band's vice-president of operations and chief operating officer, who serves as the qualified person (QP) under the definitions of National Instrument 43-101. Golden Band's exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of James Wong, PEng, PGeo, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

We seek Safe Harbor."

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