Golden Band Resources Closes $10,000,000 Flow-Through Private Placement



    GBN: TSX Venture Exchange

    SASKATOON, Dec. 24 /CNW/ - Golden Band Resources Inc. (GBN:TSXV)
announced today that it has closed its previously announced (November 22 and
26, 2007) non-brokered private placement for $10,000,000 on December 20th,
2007. A total of 20,000,000 flow-through shares of Golden Band were issued at
a price of $0.50 per share. The shares are subject to a four-month plus
one-day hold period from the closing date in accordance with applicable
securities laws.
    Finder's fees totalling $565,950 were paid to arms-length parties
involved in the private placement.
    Proceeds from the sale of the Shares will be used to fund exploration
work on Golden Band's La Ronge gold projects, including the underground
exploration program that is currently underway at the Issuer's 100% owned
Bingo deposit, and for winter drilling.

    About Golden Band

    Golden Band Resources 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 km2, including ten known gold deposits, four former
producing mines, and a licensed gold mill. The Company's near-term goals call
for development and production from the Bingo, Komis, and EP deposits with
processing at the Company's 100%-owned Jolu mill - a project that has received
a positive Preliminary Economic Assessment (scoping study) on April 19, 2007.
Longer-term objectives include production from the Company's other deposits
and the continuation of its highly successful exploration strategy.

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

    "Gary Leland"

    Gary Leland, CFO and Vice President of Finance and Administration

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

    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, 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 affect the actual results achieved
by the Company.

    %SEDAR: 00007862E




For further information:

For further information: Golden Band Resources Inc.: Rodney Orr,
President, (306) 955-0787 extension 13, rodney.orr@goldenbandresources.com;
motivia communications: Roger Francis, (306) 242-0694, toll free:
1-866-501-5651, info@goldenbandresources.com

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Golden Band Resources Inc.

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