Golden Band Resources Closes $1,512,500 Private Placement

    GBN: TSX Venture Exchange

    SASKATOON, Sept. 28 /CNW/ - Golden Band Resources Inc. (GBN:TSXV)
announced today that it has closed its previously announced (September 19,
2007) non-brokered private placement for $1,512,500. The financing totalled
2,750,000 units ("Units") at a price of $0.55 per Unit. Each Unit consists of
one flow-through common share and one non-flow through warrant ("Warrant").
Each Warrant entitles the holder to purchase an additional non-flow through
common share of Golden Band for a period of 24 months at a price of $0.65 per
share for the first 12 months and thereafter at a price of $0.75 per share for
the second 12 months. In the event that Golden Band's shares trade at a price
of $0.90 or more for at least 15 consecutive days, then Golden Band will earn
the right to shorten the exercise period of the Warrant to 30 days from the
date written notice of such adjustment is delivered to the holder of the
    The shares issued pursuant to the financing are subject to a four-month
plus one-day hold period from the closing date in accordance with applicable
securities laws.
    A finder's fees was paid to an arms-length party involved in the private
placement. The fee consisted of $90,750 and compensation warrants entitling
the purchase of 220,000 Units, having the same terms as the placees' Units
save that the underlying warrants expire 12 months from the date hereof.
    Proceeds from the sale of the Units will be used to fund exploration
expenses qualifying as Canadian Exploration Expenses as defined under the
Income Tax Act (Canada) on Golden Band's Bingo deposit.

    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, EP,
and Tower East deposits with processing at the Company's 100%-owned Jolu mill.
Longer-term objectives include production from the Company's other deposits
and the continuation of its highly successful strategy of exploration and

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

    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, 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 by Golden Band Resources Inc. 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.

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

For further information:

For further information: Please note the new Toll Free phone number for
Golden Band is 1-866-501-5651; Golden Band Resources Inc.: Rodney Orr,
President, (306) 955-0787 extension 13,;
Motivia Communications: Roger Francis, (306) 242-0694, toll free:

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Golden Band Resources Inc.

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