Golden Band Resources - La Ronge Gold Project - Surface Lease Agreement signed



    GBN: TSX Venture Exchange

    SASKATOON and LA RONGE, SK, Aug. 24 /CNW/ - Golden Band Resources Inc. is
pleased to announce that the La Ronge Gold Project Surface Lease Agreement
2009 has been signed with the Government of Saskatchewan. The province is
represented in the Agreement by the Ministry of First Nations and Métis
Relations and by the Ministry of Environment. Golden Band entered into the
Agreement via its wholly owned subsidiary, Jolu Development Corporation (JDC).
The Surface Lease includes the three parcels of land, totalling approximately
278 hectares, which encompass the Bingo deposit, the Komis and EP deposits,
and the Jolu mill site. The initial term of the surface lease is until May 31,
2030. In the Surface Lease Agreement, JDC and the Province acknowledge that it
does not abrogate or derogate from any existing rights of Aboriginal peoples
of northern Saskatchewan. The Surface Lease addresses a range of issues,
including land tenure, environmental protection measures, occupational health
and safety provisions, and socioeconomic benefits for northerners.
    "Golden Band is extremely pleased and gratified to have secured this
agreement", stated Rodney Orr, Company President and CEO. Golden Band is
delighted with the depth and extent of cooperation provided by the Provincial
departments involved, not only in the conclusion of the Surface Lease
Agreement, but also in the various regulatory and permitting requirements that
we have been engaged in over the past two years. This major milestone in our
plans for the La Ronge Gold Project demonstrates our positive relationship
with the Province and with our neighbours, including the Lac La Ronge Indian
Band, on whose traditional lands we are working. This cooperative approach is
a continuation of the Memorandum of Understanding as was signed with the Band
in 2007, and reinforces our strong relationship based on the advancement of
exploration and mining by Golden Band in ways that are mutually beneficial to
both Golden Band and the Band. We are most fortunate to have the support of
the Lac La Ronge Indian Band for our project."
    "We are very pleased that Golden Band is moving ahead together with First
Nations, Métis and Northern municipalities," said Bill Hutchinson Minister of
First Nations and Métis Relations and Minister responsible for Northern
Affairs. "This partnership will develop an important mineral resource and
provide opportunities for residents of Northern Saskatchewan to participate.
The provincial government will ensure that mining continues with an emphasis
on local economic development benefits and environmental stewardship."
    Chief Tammy Cook-Searson, Chief of the Lac La Ronge Indian Band, said
that "Today is a very important day for our future. The Surface Lease
Agreement between the Province and Golden Band Resources is an important step
to support positive relationships between the Lac La Ronge Indian Band, the
Province and Industry. While our traditional territories encompass a large
part of the province, the gold belt is at the center. Our band members have
hunted, fished and trapped that area for centuries as they do today. We are
confident that these developments will be a wonderful addition that will
compliment these activities. We are committed to working with Golden Band
Resources and the Province of Saskatchewan to ensure that our membership and
the north benefit from a safe, environmentally responsible, and profitable
project."
    Kitsaki Management L.P. and several of its related entities have been
involved in the Project since 2004. In 2008, Kitsaki Procon Joint Venture
completed the underground exploration project on the Company's Bingo deposit
and the preliminary Jolu mill refurbishment work. Kitsaki will be involved in
the Company's operations through their continued participation in the Kitsaki
Procon JV. Negotiations are in process for an expanded scope of work under a
General Services Agreement, and other agreements, whereby Kitsaki Procon JV
will act as the general contractor for all underground and open pit mining,
labour services in the Jolu mill's operations, site services and ore haulage.
Kitsaki Management and associated businesses will provide support services for
environmental monitoring, camp accommodation, and catering.
    With the conclusion of a surface lease agreement providing access to
Crown land, Golden Band Resources commits to furthering employment, training,
and business opportunities for Northerners. During operations, the project
will initially employ 75 to 100 people.
    In addition to securing the surface lease, Golden Band Resources is also
pleased to report that the provincial regulatory approval process for the site
preparation and construction activities at the Bingo, Komis, and Jolu sites is
proceeding very well. Approvals have already been issued by the Saskatchewan
Ministry of Environment (MoE) for tree and vegetation clearing at each of the
sites, the access roads between the sites and Highway 102 and along the
powerline route to the Jolu site. The MoE has also issued a variety of
approvals for the construction of facilities at the sites, including an
approval to construct the above ground tailings management facility at Jolu
and to refurbish the Jolu mill.

    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 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.

    About the Lac La Ronge Indian Band

    The Lac La Ronge Indian Band is the largest First Nation in Saskatchewan,
and one of the 10 largest in Canada, with a 2007 population of 8,303 Woodland
Cree. The band has 6 separate communities and 18 reserves which extend from
the rich farmlands in central Saskatchewan to the north through the boreal
forest to the Churchill River and beyond. Central administration is located in
La Ronge on the edge of the Pre-Cambrian Shield. The La Ronge Gold Belt falls
within the Band's traditional lands.

    About Kitsaki Management

    Kitsaki Management Limited Partnership performs the for-profit economic
development activities for the Lac La Ronge Indian Band. In its 28-year
history, Kitsaki has successfully created and currently manages a portfolio of
active business investments that serve the mining industry. These investments
include Athabasca Catering, Canada North Environmental Services, Kitsaki
Procon, and Northern Resource Trucking. Kitsaki also owns or has an investment
in the La Ronge Hotel and Suites, Northern Lights Foods, First Nations
Insurance Services, Asiniy Gravel Crushing and the Dakota Dunes Golf Course.

    
    On behalf of the Board of Directors of Golden Band Resources Inc.,

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

    On behalf of The Lac La Ronge Indian Band,

    "Chief Tammy Cook-Searson"
    Chief Tammy Cook-Searson
    Lac La Ronge Indian Band
    306.425.2813
    tcooksearson@llrib.ca

    On behalf of Kitsaki Management LP,

    "Russell Roberts"
    Russell Roberts, CEO
    Kitsaki Management LP
    306.425.2288
    russell.roberts@kitsaki.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.
    

    %SEDAR: 00007862E




For further information:

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

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