GBN: TSX Venture Exchange
SASKATOON, Feb. 18 /CNW/ - Golden Band Resources Inc. ("Golden Band" or the "Company") (TSXV: GBN) is pleased to announce that the Company was advised today that Fisheries and Oceans Canada ("DFO") approved and signed the environmental screening report for the proposed Jolu Central Mill Gold Project on February 17, 2010. The Jolu Central Mill Gold Project is the name that has been used for the Company's La Ronge Gold Project throughout the federal and provincial regulatory processes.
DFO advises that the report will be posted on the Canadian Environmental Assessment Registry Internet Site ("CEARIS") for public review, likely within the next two weeks. The Company will be provided with a copy of the report once it is available for public viewing. Golden Band has also been informed by DFO that the public consultation meetings in connection with the environmental screening report and the process to list the Company's existing Mallard Tailings Management Facility under Schedule 2 of the Metal Mining Effluent Regulations are likely to be in late March 2010 in La Ronge, Saskatchewan, and in Ottawa.
Ronald Netolitzky, Golden Band's Executive Chairman, noted: "Golden Band is very pleased to have attained this significant milestone in the environmental approval process and wishes to publicly recognize the considerable work by all concerned to realize this achievement. While the Company has been proceeding towards a start of gold production by late 2010 under the provincial environmental approval obtained in May 2009, this noteworthy development in the federal regulatory process is important for the long-term sustainability of the La Ronge Gold Project."
Financial Advisor Appointment
The Company is also pleased to announce the appointment of Cormark Securities Inc. ("Cormark") as financial advisor. Cormark will provide general advisory services to the Company including evaluating alternatives, primarily focused on project-related debt, to finance remaining pre-production capital at the La Ronge Gold Project.
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is now poised to also become a gold producer. Golden Band is a Saskatchewan-based, publicly listed company (TSXV: GBN) whose focus is the long-term, systematic exploration and development of its largely 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 km(2), 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 development and production from its Bingo, Komis, EP, 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: For further information: Gary Haywood, P.Eng., COO, Golden Band Resources Inc., Phone: (306) 955-0787 x7124, Fax: (306) 955-0788, Email: firstname.lastname@example.org; Investor Relations: Raju Wani, (403) 240-0555, Email: email@example.com, www.goldenbandresources.com