GBN: TSX Venture Exchange | OTCQX: GBRIF
SASKATOON, Jan. 24, 2013 /CNW/ - Golden Band Resources Inc. (Golden Band or Company) (TSXV: GBN); (OTCQX: GBRIF) announces that it has retained Clarus Securities Inc. ("Clarus") as its exclusive financial advisor to assist the Company in evaluating a broad range of strategic options, including, but not limited to, an assessment of the current operations, financial position, and outlook as well as identifying and assessing potential transaction(s) that will benefit the shareholders of the Company. Golden Band wishes to emphasize that there can be no assurance that any specific transaction regarding the Company or its assets will be pursued or completed and there is no definitive timeframe for the process. The Company does not intend to disclose developments with respect to this review and evaluation until such time as the Board of Directors approves a course of action.
Ron Netolitzky, Chairman and Director noted, "Our decision to initiate a strategic review of our business options is timely given the number of possible development scenarios available to the Company. We see excellent opportunity in the near term to improve our operating performance at the existing operations and further out, we have recognized a number of exciting, large, low grade targets that justify additional exploration. With these opportunities at hand, we intend on developing a plan that will maximize the value to our shareholders."
About Golden Band
Golden Band Resources is a gold producer operating in the La Ronge gold belt in northern Saskatchewan and publicly listed on the TSX Venture exchange in Canada under the symbol GBN and is traded in the United States on the OTCQX under the symbol GBRIF. Commercial production was declared on April 1, 2011 and the Company has production from two mines, Roy Lloyd and Komis. Processing is at the centrally located Jolu mill, with a nominal capacity of 650 tonnes per day. The Company 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 four former producing mines, being Jolu, Decade, Star Lake and Komis. The Company plans to undertake aggressive drill programs throughout the La Ronge Gold Project with the goal of significantly expanding the existing NI 43-101 gold resources that have been identified to date.
On behalf of the Board of Directors of Golden Band Resources Inc.,
A. Robson Garden, President and 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 relating to the potential mineralization and geological merits of the mine properties, estimates of production, costs of production, the sufficiency and availability of capital and financing 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 current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing, 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 with securities regulators available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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:
Mark J. Thiel, VP, Finance & CFO
Golden Band Resources Inc.
Phone: 306 385 7128
Fax: 306 955 0788