GBN: TSX Venture Exchange
SASKATOON, May 27 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) is very
pleased to report that Ministerial Approval has been received for the
Company's La Ronge Gold Project. The Honourable Nancy Heppner, Minister of
Saskatchewan's Ministry of Environment, granted the approval under the
Province's Environmental Assessment Act after an extensive technical review
and public review period.
"This is a major milestone in the progression of Golden Band Resources as
it opens the way for mining on our La Ronge Gold Project," said Company CEO
and president, Rodney Orr. "We are extremely pleased with the timeliness of
the provincial regulatory process and extend our thanks to everyone involved.
Golden Band is also very grateful for the support demonstrated by the numerous
participants in the project, and especially to the Lac La Ronge Indian Band on
whose traditional lands all of our projects are located. The Band's support,
and in particular that of Chief Tammy Cook-Searson and Russell Roberts (CEO of
Kitsaki Management LP), has been instrumental and amply demonstrated on
numerous occasions, including the Memorandum of Understanding and the General
Services Agreement we signed in 2007."
The Company is now in a position to apply for the applicable construction
and operational permits and licenses. During the construction period some 100
jobs will be created, and in commercial production there will be 125 full time
jobs in the initial three operating mines and at the Jolu gold mill. Pending
receipt of the construction permits and licenses, and subject to financing,
construction could start in July 2009, with a goal of commercial production
before the year-end of 2009.
Looking beyond this momentous approval, Company Chairman, Ronald
Netolitzky noted, "While this very significant achievement allows us to
re-start gold production with this initial project, the Company's stated
objective is to expand from the initial four years to a minimum of ten years
with the production of at least 75,000 ounces per year based on an initial
milling rate of 700 tonnes per day from the Company's Bingo, Komis, and EP
The Ministerial Decision was based on the Environmental Impact Study
prepared by the Company which concluded that, with the use of mining industry
Best Management Practices for environmental management of the project,
including decommissioning and reclamation, the proposed project would have a
negligible impact on the environment in the long term. The decisions in
Ministerial Approval noted that any adverse environmental effects associated
with the project can be successfully mitigated or minimized, and that the
environmental effects are acceptable given the benefits that will result from
the project. Copies of the complete Ministerial Decision and the Ministerial
Approval are available on the Company's website.
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 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 km(2), including 12
known gold deposits, five former producing mines, and a licensed 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 of commercial production of its Bingo, Komis, and EP
deposits with processing at the 100%-owned Jolu mill. The Company's objective,
supported by a positive Pre-Feasibility Study completed in January 2009, is
the annual production of at least 75,000 ounces of gold over a ten-year
project life. Other longer-term objectives include the continuation of its
highly successful exploration and acquisition strategy.
On behalf of the Board of Directors of Golden Band Resources Inc.,
"Rodney G. Orr"
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 and COO,
who serves as the qualified person (QP) under the definitions of National
Cautionary Statements on Forward-Looking Information: The statements made
in this News Release may contain certain forward-looking information. Actual
results may differ materially from those currently anticipated in such
statements. Certain risk factors may also materially affect the actual results
achieved by the Company. Potential and current shareholders are cautioned not
to place undue reliance on forward-looking information. The Company disclaims
any intent and undertakes no obligation to update publicly or otherwise revise
any forward-looking information whether as a result of new information, future
events, or other such factors that may affect this information, except as
required by law.
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.
For further information:
For further information: please contact: Rodney Orr, President & CEO,
Golden Band Resources Inc., Phone: (306) 955-0787 x7123, Fax: (306) 955-0788,
Email: firstname.lastname@example.org; Wani Capital Corp.: Raju Wani,
(403) 240-0555, Email: email@example.com,