Golden Band Resources Issuing Stock Options

SASKATOON, SK, Dec. 24 /CNW/ - Golden Band Resources Inc. (Golden Band or the Company) (TSXV: GBN) announces that its Board of Directors has approved the issuance of a total of 4,110,000 incentive options under the Company's Stock Option Plan. The options were granted as follows:

Position of
Optionee(s)
Date of
Grant Approval
Number of
Optioned Shares
Exercise Price
Employees December 24, 2010 510,000 $0.60
Directors & Officers December 24, 2010 3,300,000 $0.60
Consultants December 24, 2010 300,000 $0.60

These options are exercisable into common shares of the Company at a price of $0.60 per share for a period of five years from the date of the grant, and will vest in accordance with TSX Venture Exchange guidelines and the Company's stock option plan.

About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is now poised to also become its newest gold producer. Golden Band is a Saskatchewan-based, publicly listed company (TSXV: GBN) whose focus is the long-term, systematic exploration and development of its largely 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 twelve known gold deposits, four former producing gold mines, and the licensed Jolu 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 development and production from its Bingo, Komis, EP, and Golden Heart gold deposits, with processing at the 100%-owned Jolu mill. 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 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 Vice President 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 planned development, potential mineralization, interpretation of prior exploration and potential exploration results, the timing and success of potential financing, development and 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.

SOURCE Golden Band Resources Inc.

For further information: For further information:

Mark J. Thiel, CA, CFO
Golden Band Resources Inc.
Phone: 306 955 0787 x7128 Fax: 306 955 0788
Email: mark.thiel@goldenbandresources.com

Investor Relations:
Raju Wani, 403 240 0555
Email: info@goldenbandresources.com
www.goldenbandresources.com

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Golden Band Resources Inc.

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