Bingo Gold deposit underground exploration update and updated summary of all NI 43-101 compliant resources



    GBN: TSX Venture Exchange

    SASKATOON, July 21 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is
pleased to report that, subsequent to the recently reported successful
completion of the Bingo underground exploration program, the underground
drilling program at Bingo is now also completed. The Company is also pleased
to provide an updated summary of its NI 43-101 compliant resource estimates
for its gold deposits that occur in the La Ronge Gold Belt of northern
Saskatchewan.

    
    Highlights:
    -----------
    -   102 underground drillholes totalling 1,135 metres have been
        successfully completed on the 1325 Metre and 1295 Metre levels at
        Bingo.

    -   The updated summary table of NI 43-101 compliant resources now
        includes Birch Crossing and the Company's 49% share of the Greywacke
        deposit. The current total for eight deposits is 10,993,849 tonnes
        (780,904 ounces gold) in the Measured + Indicated category and
        2,449,600 tonnes (256,207 ounces gold) of Inferred resources.
        Deposits that require new resource updates include: Bingo, EP, Birch
        Crossing, and Greywacke. Existing gold deposits still requiring NI
        43-101 compliant resource estimates are: Kaslo/Niko and Corner Lake.
    

    Bingo Gold Deposit Underground Exploration

    A detailed underground diamond-drilling program to sample gold
mineralization that may exist parallel to the exploration development on the
1325 Metre and 1295 Metre levels (see June 19, 2008 news release) was
successfully completed on July 12, 2008 with 102 drillholes totalling
1,135 metres. All of the samples were sent to TSL Laboratories and the SRC
Laboratory in Saskatoon and the Company expects to receive all assay results
by mid August 2008. An updated resource estimate will be done once all of the
assay results are available and plans for additional underground work will
also be developed as warranted.

    Updated Gold Resource Summary and Existing Gold Prospects

    The Company's current NI 43-101 compliant resource inventory is comprised
of eight deposits (seven are 100% owned by the Company) that total 10,993,849
tonnes (780,904 ounces gold) of Measured + Indicated and 2,449,600 tonnes
(256,207 ounces gold) of Inferred resources. Table 1 (available on the Company
website) summarizes these resources by deposit and now includes the previously
individually reported estimates for Bingo (news release of January 8, 2008),
Birch Crossing (news release of December 17, 2007), and Greywacke (news
release by Masuparia Gold Corp. (operator) of April 7, 2008).
    The results from the most recent drill programs at EP, Birch Crossing and
Greywacke, and the results from the underground exploration at Bingo will be
used to update the resource estimates of those deposits. This work will be
reported as the data is available.
    Gold deposits that do not yet have NI 43-101 compliant resource estimates
are Kaslo/Niko and Corner Lake. The latter two had historical resource
estimates by their previous owners, and the Company is currently working to
update these to current reporting standards.
    In addition to the ten currently known deposits, numerous other gold
prospects that require follow-up exploration work exist throughout the
Company's claims (see Figure 1 for locations; available on the Company
website). With additional exploration, these prospects represent areas that
could be advanced towards a resource status and development. The more
significant are:

    
    -   Jolu Mill Area: former Jolu Mine (including remnant zones, crown
        pillar, and Alimak Zone with historical reserves), Decade gold
        deposit, Rush Lake gold deposit (with a historical resource
        estimate), Kahn zones (with a historical resource estimate), Pam
        Zone, 1850 Zone, and the 2200 Zone.

    -   Waddy Lake Area: Charlie's Eye Crossing prospect, RKN Zone, A-Zone,
        Oven Lake prospect, Redhill Lake prospect, Ginger showings, Dog Creek
        prospect, Discovery Point showing, Halfmoon Lake prospect, Augustus,
        Fortuna, and the Burnt Rock prospect.

    -   While Golden Band already controls most of the La Ronge Gold Belt,
        several other gold deposits and prospects in the general area of the
        Jolu Mill could offer potential for eventual development.
    

    Plans for upcoming exploration on targets having higher-grade resource
and near-term development potentials are progressing and will be announced
shortly.

    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 km(2), including ten
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 100%-owned Bingo,
Komis, and EP deposits with processing at the 100%-owned Jolu mill - a project
that received a positive expanded Preliminary Economic Assessment (scoping
study) on February 26, 2008 (filed on SEDAR on April 10, 2008). 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.,

    "Rodney G. Orr"
    Rodney G. Orr, P.Geo.,
    President & CEO

    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 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.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    
    Table 1: Summary of Measured + Indicated, and Inferred Mineral Resources
    for Golden Band Resources Gold Deposits (NI 43-101 compliant)
    -------------------------------------------------------------------------
                                            cut
                                            off            Grade   Resources
                                   Grade    g/t
    Deposit       Date   Author   Capping   Au    tonnes   g/t Au  ounces Au
    -------------------------------------------------------------------------
                                                         Measured +
                                                    Indicated Resources
    -------------------------------------------------------------------------
    Komis o/p    Jan-05 ACA Howe 70 g/t Au  1.0   990,000   3.81     121,300
    -------------------------------------------------------------------------
    Tower East
     op          Dec-07 In-House 15 g/t/Au  1.0 5,019,080  1.858     299,835
    -------------------------------------------------------------------------
    Golden
     Heart o/p   Mar-06 Simpson  24 g/t Au  1.0 4,486,400   1.80     259,900
    -------------------------------------------------------------------------
    Memorial
     o/p         Mar-06 Simpson  30 g/t Au  1.0   288,400   2.83      26,220
    -------------------------------------------------------------------------
    EP o/p       May-07 Simpson  77 g/t Au  1.0    22,700   7.18       5,240
    -------------------------------------------------------------------------
      Birch
    Crossing     Dec-07 Simpson 120 g/t Au    -         -      -           -
    -------------------------------------------------------------------------
    Greywacke(*)
     u/g         Apr-08 Wardrop
                        (Masuparia)         5.0    90,160    8.4      24,353
    -------------------------------------------------------------------------
    Bingo u/g    Dec-07 In-House 70 g/t Au  5.0    97,109   14.11     44,056
    -------------------------------------------------------------------------

                                              Measured + Indicated Resources
                                        Total: 10,993,849            780,904


    -------------------------------------------------------------------------
                                            cut
                                            off            Grade   Resources
                                   Grade    g/t
    Deposit       Date   Author   Capping   Au    tonnes   g/t Au  ounces Au
    -------------------------------------------------------------------------
                                                     Inferred Resources
    -------------------------------------------------------------------------

    Komis o/p    Jan-05 ACA Howe 70 g/t Au  1.0   94,000    2.98       9,000
    -------------------------------------------------------------------------
    Tower East
     op          Dec-07 In-House 15 g/t/Au  1.0  902,020   1.516      43,965
    -------------------------------------------------------------------------
    Golden
     Heart o/p   Mar-06 Simpson  24 g/t Au  1.0  598,800   1.66       31,900
    -------------------------------------------------------------------------
    Memorial
     o/p         Mar-06 Simpson  30 g/t Au  1.0   90,900   2.49        7,272
    -------------------------------------------------------------------------
    EP o/p       May-07 Simpson  77 g/t Au  1.0   62,600   3.84        7,729
    -------------------------------------------------------------------------
      Birch
    Crossing     Dec-07 Simpson 120 g/t Au  2.0  536,300   5.11       88,100
    -------------------------------------------------------------------------
    Greywacke(*)
     u/g         Apr-08 Wardrop
                        (Masuparia)         5.0   28,420   7.29        6,664
    -------------------------------------------------------------------------
    Bingo u/g    Dec-07 In-House 70 g/t Au  5.0  136,560 14.025       61,577
    -------------------------------------------------------------------------

                                                     Inferred Resources
                                  Total:       2,449,600             256,207

    (*)Golden Band owns 49% of the resource at Greywacke and only this is
    accounted for in the above table.
    

    %SEDAR: 00007862E




For further information:

For further information: Rodney Orr, President & CEO, Golden Band
Resources Inc., Phone: (306) 955-0787 x7123, Fax: (306) 955-0788, Email:
rodney.orr@goldenbandresources.com, www.goldenbandresources.com; Motivia
Communications: Roger Francis, (306) 242-0694 x5, Toll free: (866) 501-5651,
Email: info@goldenbandresources.com

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