SASKATOON, May 1, 2015 /CNW/ - Golden Band Resources Inc. ("Golden Band" or the "Company") (TSXV: GBN) announces that the British Columbia Securities Commission (the "BCSC") has reviewed the Company's NI 43-101 technical report entitled 'Technical Report and Mineral Resource Update – Bingo Gold Deposit, Roy Lloyd Mine, Dickens West Project', dated May 2, 2013 (the "Report"). As a result of their review, the mineral resources and economic analysis contained in the Report does not represent the entire La Ronge Project area and as such is not currently supported by the updated (June 30, 2011) Form 43-101F1 and accompanying Companion Policy 43-101CP (Standards of Disclosure for Mineral Projects). Therefore the Report should not be relied upon until the deficiencies have been corrected and supported by an updated report for the entire La Ronge Project area. The Company is working with its consultants and Qualified Persons (as that term is defined under NI 43-101) to file a revised technical report as soon as possible and will keep the shareholders apprised of its progress.
About Golden Band
Golden Band Resources Inc. is a gold producer operating in the La Ronge gold belt in northern Saskatchewan and is listed on the TSX Venture Exchange in Canada under the symbol GBN. Commercial production was declared on April 1, 2011. The Company has recently suspended mining operations (see news release of June 30, 2014) but has been actively exploring the La Ronge Gold Belt since 1994 and has assembled a land package of 870 km2, including 13 known gold deposits and five former producing mines, being Jolu, Decade, Star Lake, EP and Komis (the La Ronge Project area).
On behalf of the Board of Directors of Golden Band Resources Inc.,
Paul Saxton, CEO
Caution Regarding Forward-Looking Information and Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the updated technical report, operational plans, estimates and costs of production, and other future plans, objectives or expectations of Golden Band Resources Inc. (Company) 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. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of operations, current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company. The Company makes all reasonable efforts to update its corporate information on a timely basis.
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.
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