Golden Band Resources Inc. (Golden Band or the Company) (GBN: TSXV; OTCQX: GBRIF) is pleased to report the assay results for the 19 holes drilled on its Komis Gold Deposit in the fall of 2011. Komis is located approximately 190 km northeast of La Ronge in northern Saskatchewan, and is 100%-owned by Golden Band.
A total of 4,319 m of NQ-diameter core was drilled (19 holes) from surface during fall and early winter of 2011 (Figure 1). The program was to confirm the depth and on-strike potential of the Komis deposit. A summary of the composited fire assay results for mineralized intersections in the 19 drillholes is shown in Table 1.
Highlights of the Komis drilling include numerous high-grade gold intersections and new zones of shallow, low-grade mineralization over potentially significant intervals, such as:
• KO-11-010: 26.3 grams per tonne (g/t) Au over 2.0 metres (m) starting from 140 m depth, including 48.9 g/t Au over 1.0 m. • KO-11-012: 4.4 g/t Au over 90 m from 24 m depth, including: 19.4 g/t Au over 18 m, 27.6 g/t Au over 2.0 m, 25.4 g/t Au over 2.0 m, and 114.4 g/t Au over 2 m. • KO-11-016: 2.9 g/t Au over 24 m starting from 5 m depth, including: 46.4 g/t Au over 1.0 m.
Ron Netolitzky, Chairman of Golden Band Resources, stated, These drilling results confirm that the Komis gold deposit remains open on-strike and to depth and also identifies that gold mineralization extends beyond the currently known deposit. With further definition, this newly recognized, near-surface, potential along strike may serve to expand the current resource, with higher grade mineralization beyond the currently defined deposit possibly forming the basis of an expanded mining operation.
Mr. Netolitzky further noted, The other very significant outcome of this drilling program is the recognition of a large gold mineralized envelope extending beyond the known Komis deposit. As a first indication of this, the wide zones of gold mineralization in drillhole KO-11-012 certainly warrant follow-up for a for a bulk-tonnage potential that was completely unrecognized before now.
This gold-mineralized envelope to the north of the currently defined deposit was only realized after more comprehensive core sampling in this recent drilling. As an immediate follow-up, available historical core within the area having bulk tonnage potential will be assayed. This will indicate if additional drilling is warranted to define the bulk tonnage potential, as well as the newly recognized shallow on-strike potential at Komis.
Core samples from the 2011 drill program were prepared for assaying by splitting the NQ core and keeping one half for reference purposes and assaying the other half. A total of 2,493 intervals were assayed. Assays were determined by standard fire assay on 30-gram charges, and metallic screen assays were then completed for all standard assays greater than or equal to 5 g/t Au. All of the assays were completed at the Company’s unaccredited Jolu Assay Lab, with check assays consigned to TSL Laboratories located in Saskatoon, Saskatchewan, which is also an ISO/IEC guideline 17025 accredited facility.
In addition to quality control by the lab, Golden Band inserts Certified Reference Materials, blanks, and duplicate samples into the sample batches for independent verification of quality control. A review of the Quality Assurance/Quality Control (QA/QC) results shows no significant biases and all results are considered highly reliable. 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; OTCQX: GBRIF) 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.,
Rob Garden A.Robson Garden, QC, President and CEO For further information please contact:
Rodney Orr, P.Geo., VP Corporate Development Golden Band Resources Inc. Phone: 306 385 7123 Fax: 306 955 0788 Email: email@example.com
Investor Relations: Raju Wani: 403 240 0555 Tony Perri: 604 682 6852 Email: firstname.lastname@example.org www.goldenbandresources.com