GBN: TSX Venture Exchange

SASKATOON, Jan. 13 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is very pleased to provide this progress update for the Company's 100%-owned La Ronge Gold Project in northern Saskatchewan.

Jolu Mill Operation - 15.9 Kilogram Gold Pour Achieved

Golden Band Resources produced the first doré gold bar at the Company's Jolu mill on January 12, 2011. This initial 15.9 kg (approximately 500 troy ounces) gold bar was produced from high-grade ore mined at the Company's 100%-owned Roy Lloyd Mine (Bingo Deposit) and processed through the gravity circuit of the mill.

Ronald Netolitzky, Executive Chairman, reports, "It has been a long time in coming, but our path to production has now been realized, and the goal of becoming Saskatchewan's newest gold producer has been achieved. We look forward with great optimism to a successful future for Golden Band and to growing the La Ronge Gold Project over the next several years to achieve our longer-term goal of producing 100,000 gold ounces per year. With this major milestone accomplished, I also want to extend our great thanks to everyone in Golden Band who worked to achieve this momentous event, to our many partners who provided immense help and support, and to our shareholders."

The Jolu Mill is comprised of gravity and carbon in pulp (CIP) circuits. The mill has been processing ore since December 23, 2010 (see previous news release of December 23, 2010). Processing of the gravity concentrate was delayed due to minor technical malfunctions in some of the newly installed equipment that have now been rectified. Leaching of gold in the CIP circuit is progressing as planned and will contribute to subsequent gold production. Over the next month, plant operation will continue to troubleshoot and rectify any issues that arise as the Company anticipates achieving steady state throughput of 400 tonnes per day during Q1, 2011.

About Golden Band

Golden Band Resources, already Saskatchewan's leading gold explorer, is now its newest gold producer. Golden Band is a 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 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 the development and production of its Bingo, EP, Komis, 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 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 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:

Gary Haywood, P.Eng., COO
Golden Band Resources Inc.
Phone: 306 955 0787 x7124
Fax: 306 955 0788
                Investor Relations:
Raju Wani: 403 240 0555
Tony Perri: 604 682 6852

Profil de l'entreprise

Golden Band Resources Inc.

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