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Golden Band Resources - Summer Exploration Program Underway
Saskatoon, Saskatchewan, June 23, 2009 - Golden Band Resources Inc. (GBN: TSXV) is pleased to announce the following exploration activities for the Company’s La Ronge Gold Project.
Bingo Deposit Drilling
A 5,000-metre drill summer drilling program is planned to start in July. Nine drillholes will test the down-plunge and on-strike continuation of the high-grade gold mineralization at Bingo (see previous news releases of November 26, 2008 and May 26, 2009). This program will see 50-metre step-out holes from known high-grade mineralization at vertical depths of up to 450 metres. The objective is to enlarge this high-grade Inferred category resource, now containing an estimated 155,074 tonnes grading 13.89 g/t Au, and to increase the confidence level about the grade and the structural continuity of this gold mineralization. In addition to testing deeper mineralization at Bingo, four drillholes will also test for the deeper continuation of gold mineralization at the Bingo deposit’s Cockrum zone (see news release of May 26, 2009).
EP Deposit Riddle Till Gold Resource Definition
A bulk till sampling program is now underway to define the gold grade within the till that extends over 600 metres down-ice of the EP gold deposit (see previous news release of November 28, 2003). The intent is to determine the economic viability of recovering the gold contained in the till as part of the Company’s planned mining operations at the EP and nearby Komis deposits. Mining at EP is already planned for both the high-grade supergene gold mineralization and the underlying primary gold (see news release of September 26, 2006 for information on the types of mineralization).
Upper Waddy Lake / Earl-Kidney Area Sampling and Drilling
Bulk till sampling, geological mapping, and prospecting are planned on known gold anomalies in the Earl-Kidney area, with the objective of determining a drilling target for subsequent testing. Follow-up drilling will also be carried out in the Charlie's Eye Crossing prospect (see news release of January 17, 2008), with up to 1,000 metres being considered for this area.
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is now poised to also become a gold producer. Golden Band is a well-financed, 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 750 km2, including 12 known gold deposits, five 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 to becoming 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.,
"Rodney G. Orr"
Rodney G. Orr, P.Geo.,
President & CEO
For further information please contact:
Rodney Orr, President & CEO,
Golden Band Resources Inc.
Phone: 306 955 0787 x7123; Fax: 306 955 0788
Email: rodney.orr@goldenbandresources.com
Wani Capital Corp.:
Raju Wani, 403 240 0555
Email: info@goldenbandresources.com
www.goldenbandresources.com
All of Golden Band's exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Frank Hrdy, P.Geo., Golden Band's VP Exploration, who serves as the qualified person (QP) under the definitions of National Instrument 43-101. 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, P.Eng., Golden Band's VP of Operations and COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
Cautionary Statements on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking information. Actual results may differ materially from those currently anticipated in such statements. Certain risk factors may also materially affect the actual results achieved by the Company. Potential and current shareholders are cautioned not to place undue reliance on forward-looking information. The Company disclaims any intent and undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events, or other such factors that may affect this information, except as required by law.
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.
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