Golden Band Resources Issuing Stock Options

GBN: TSX Venture Exchange

SASKATOON, Aug. 31 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) (the "Company") announces that its Board has approved the issuance of a total of 500,000 options to employees of the Company under the Company's Stock Option Plan.

The options were granted as follows:

    
    Position of                                 Number of           Exercise
    -----------                                 ---------           --------
     Optionees         Date of Grant         Optioned Shares         Price
     ---------         -------------         ---------------         -----

     Employees        August 31, 2010            500,000              $0.30
    

These options to be granted to Employees of the Company, are exercisable into common shares of the Company at a price of $0.30 per share (being the last closing price at which the Company's shares traded on the TSXV preceding the grant of stock options), for a period of five years from the date of the grant, and will vest in accordance with TSX Venture Exchange guidelines.

    
    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.

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For further information: Mark Thiel, CFO, Golden Band Resources Inc., Phone: [phone] x7128, Fax: [phone], Email: [email protected]; Investor Relations: Raju Wani, 403 240 0555; Tony Perri: 604 682 6852; Email: [email protected], www.goldenbandresources.com