Golden Band Resources Inc. is pleased to announce that its Annual General Meeting (AGM) of the Shareholders was held on October 25, 2011. Business conducted at the AGM included the election of Ronald Netolitzky, Klaus Lehnert-Thiel, A. Robson Garden, Robert Ingram, Stuart Diamond, John Tosney, and Archie Nesbitt as the Company’s board of directors.
PriceWaterhouseCoopers LLP was voted as the Company’s external auditor and an ordinary resolution was passed by the Shareholders in order for the Company to comply with changes to TSX Venture Exchange rules on company stock option plans, as were set forth in the information circular distributed to the Shareholders with the notice of this meeting.
A presentation of the operational, corporate, and exploration activities during 2011 was given by management, a copy of which is available on the Company’s website.
The Company announces that its Board of Directors has approved the issuance of a total of 3,350,000 incentive options under the Company’s Stock Option Plan. The options were granted as follows:
Position of Optionees Date of Grant Approval Number of Optioned Shares Exercise Price
Directors & Officers October 25, 2011 2,650,000 $0.31
Consultants October 25, 2011 700,000 $0.31
These options are exercisable into common shares of the Company at a price of $0.31 per share for a period of five years from the date of the grant, and will vest in accordance with TSX Venture Exchange guidelines and the Company’s stock option plan.
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 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, Chairman
For further information please contact:
Mark J. Thiel, CA, VP Finance and CFO
Golden Band Resources Inc.
Phone: 306 385 7128
Fax: 306 955 0788
Raju Wani: 403 240 0555
Tony Perri: 604 682 6852