Bingo drilling update, near-surface gold zone discovered

GBN: TSX Venture Exchange

SASKATOON, Dec. 10 /CNW/ - Golden Band Resources Inc. (GBN: TSX.V) is pleased to announce the discovery of a new high-grade gold zone, named the 188 Zone, located 300 meters west of the main Bingo deposit (Figure 1 - http://www.goldenbandresources.com/figure1Dec10.html), in the La Ronge Gold Belt of northern Saskatchewan. The 188 Zone was intersected in the upper part of the second deep drillhole that successfully tested the down-plunge continuation of Bingo-style gold mineralization. Drillhole WD-188 intersected the Bingo Zone 50 metres north of WD-184 (the deepest drillhole to date at Bingo which intersects high grade gold mineralization - see press releases dated September 17th and November 12th, 2009).

The 188 Zone is hosted within a highly silicified shear that hosts local gold grades of up to 31.58 g/t Au over 1.0 m and extends from near surface to a down-hole depth of 16.5 m (see Figure 1 - http://www.goldenbandresources.com/figure1Dec10.html for a plan view and location map, and Table 1 for assay results). Follow up drilling to test the extent of the 188 Zone is planned.

Figure 1 - http://www.goldenbandresources.com/figure1Dec10.html - Plan view of the Bingo gold deposit block model with gold grade values colour coded according to the legend and the projected orientation of the new "188 Zone" displayed by a black dotted line. The 188 Zone occurs in an area that has no historic drill holes or gold showings and represents a potential en-echelon structural duplication of the main Bingo Zone. Follow up drilling is warranted to confirm the orientation of this new gold zone and to test its size and extent.

Table 1 - Most significant gold assay values from 2 high-grade zones hosted within a broader (down hole width of 16.5 metres) mineralized zone termed here the "188 Zone". WD-188 and WD-188A were stopped after about 35-38 metres because down hole surveys indicated they were not within acceptable tolerance of the planned drillhole orientation. However, the 188 Zone was sampled in these two aborted holes and the grade variation between these closely spaced samples indicates the high nugget nature of the gold mineralization.

    
    -------------------------------------------------------------------------
                                                                     Weighted
                        Azimuth    Drillhole   From    To   Interval    Avg
    Drillhole  Zone  /Inclination   Depth (m)   (m)    (m)    (m)    (g/t Au)
    -------------------------------------------------------------------------
    WD-188       1  103.5 degrees/    38.7       6.0    7.5    1.5      0.91
                      -65 degrees
    -------------------------------------------------------------------------
                 2                              10.6   11.5    0.9     10.02
    -------------------------------------------------------------------------
    WD-188A      1   98.3 degrees/    34.8       6.2    8.2    2.0      21.7
                      -65 degrees
    -------------------------------------------------------------------------
                 2                              10.3     12    1.7      1.23
    -------------------------------------------------------------------------
    WD-188B      1   90.6 degrees/   790.4       7.2    8.7    1.5      6.90
                      -66 degrees
    -------------------------------------------------------------------------
                 2                              11.7   13.4    1.7      7.76
    -------------------------------------------------------------------------
    

Drillhole WD-188B successfully intersected the down-plunge of the Bingo mineralized structure, comprised of quartz vein-bearing sheared intermediate volcanic rock returned anomalous Metallic Screen assays of up to 1.16 g/t gold over 0.7 m (630.0-630.7 m). An updated resource estimate for the Bingo deposit incorporating the 2009 drilling will now be undertaken.

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 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 km(2), including twelve 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 to becoming a sustainable gold producer. The Company is aggressively pursuing its near-term goal for the development and production of its Bingo, Komis, EP, and Golden Heart deposits, with processing at the 100%-owned Jolu. Longer-term objectives include production from the Company's other deposits and 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
    

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 news release includes certain "forward-looking information within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements")." All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, and future plans and objectives of Golden Band 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. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

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.

%SEDAR: 00007862E

SOURCE Golden Band Resources Inc.

For further information: For further information: Golden Band Resources Inc., Rodney Orr, Vice President, 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

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