Golden Band Resources: First Closing of Private Placement



    GBN: TSX Venture Exchange

    SASKATOON, May 12 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) reported
today it has closed the first tranche of its private placement, announced in
its news release dated April 27, 2009. Pursuant to the private placement, for
the first closing, the Company issued 9,715,000 units at a price of $0.20
cents per unit for gross proceeds of $1,943,000. Each unit comprises one
common share of the Company and one half common share purchase warrant of the
Company. Two warrants will entitle the holder to purchase one share of the
Company for a period of 12 months from the date of issuance at a price of
$0.28 per share.
    Finders' fees consisting of 658,000 Finders Warrants and $131,600 in cash
were paid in accordance with the policies of the TSX Venture Exchange. Each
Finder's Warrant will be exercisable to acquire one common share at $0.28, and
expiring 12 months after the closing date.
    The securities offered hereby are subject to a four-month plus one-day
hold period from the closing date in accordance with applicable securities
laws. The private placement is subject to final TSX Venture Exchange
acceptance.

    
    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 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: 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; Investor
Relations: Raju Wani, Wani Capital Corp.: (403) 240-0555, Email:
info@goldenbandresources.com

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Golden Band Resources Inc.

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