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Message: NR-Business agreement signed for La Ronge gold project development

NR-Business agreement signed for La Ronge gold project development

posted on Feb 12, 2010 09:17AM

Business agreement signed for La Ronge gold project development

	    SASKATOON and LA RONGE, SK, Feb. 11 /CNW/ - Golden Band Resources Inc.
(TSXV: GBN) and Kitsaki / Procon Joint Venture are pleased to announce the
signing of a General Services Agreement for the company's La Ronge Gold
Project. This agreement confirms business opportunities from the project,
including: underground mine development and production mining, mill
refurbishment and operation, surface construction, open pit mining, ore
haulage, and accommodation services. In addition, the agreement asserts the
commitments that both organizations have made to ensure environmentally
responsible mineral development, promotion of a safe and healthy worksite, and
hiring and training for members of the Lac La Ronge Indian Band.
	    The Kitsaki / Procon Joint Venture consists of Kitsaki Mining Limited
Partnership, which is part of the for-profit economic development agency of
the Lac La Ronge Indian Band, and Procon Mining Partnership.
	    The General Services Agreement was signed today by Chief Tammy
Cook-Searson, Chief of the Lac La Ronge Indian Band and President of Kitsaki
Management, Jim Dales, Vice President, Operations, of Procon Mining
Partnership, Ronald Netolitzky, Executive Chairman of Golden Band Resources,
and Gary Haywood, COO of Golden Band Resources. Also present were Russell
Roberts, CEO of Kitsaki Management; Al Solheim, CFO of Kitsaki Management;
Colin Wilson, Contracts Manager for Procon; and Rodney Orr, Vice President,
Golden Band Resources.
	    The initial work, to start in mid-February, will be underground
exploration at the Bingo deposit. Mill refurbishment and other
development-related work is expected to begin in the spring as soon as the
project financing has been completed.
	    Chief Tammy Cook-Searson said, "We are happy to announce another
significant achievement in the development of this very important project. The
signing of the GSA signifies our ongoing commitment to real partnerships. Our
long time partner, Procon Mining and Tunnelling and Kitsaki staff have been in
serious discussions with Golden Band for many months to ensure that this
development will proceed in a way that benefits the shareholders of Golden
Band and benefits our band members and others in our communities."
	    Ed Yurkowski, President of Procon Mining, said "We at Procon, along with
our partners and friends at Kitsaki Mining Limited Partnership, are pleased
and excited to be involved with Golden Band Resources in bringing
Saskatchewan's first gold mine in over fifteen years into production. The La
Ronge Gold Project marks an important milestone - not only in the history of
Golden Band - but for the economic well-being of the La Ronge First Nation.
Together, we look forward to working alongside Golden Band for many years to
come as they continue to explore and develop the North."
	    Ronald Netolitzky, Executive Chairman of Golden Band Resources, said "The
signing today of the General Services Agreement with the Kitsaki Procon joint
venture signals not only a major step forward in Golden Band's plans to start
gold production but, as importantly, further solidifies our positive
relationship with the Lac La Ronge Indian Band. Golden Band is very proud to
be providing the economic development opportunities that our long-term plans
for gold exploration and development have brought and will continue to bring
to the La Ronge area and to the province."

	    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 (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
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 the development and
production of 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.

	    About Kitsaki Management Limited Partnership

	    Kitsaki Management Limited Partnership performs for-profit economic
development for the Lac La Ronge Indian Band. In its 29-year history, Kitsaki
has successfully created and manages a portfolio of active business
investments such as Kitsaki Procon Joint Venture, Athabasca Catering, Canada
North Environmental Services, and Northern Resource Trucking, which serve the
mining industry. Kitsaki has also invested in the La Ronge Hotel and Suites,
Northern Lights Foods, First Nations Insurance Services, Asiniy Gravel
Crushing, and the Dakota Dunes Golf Course.

	    About Procon Mining and Tunnelling Ltd.

	    Procon Mining and Tunnelling is a full-service mining contractor. They
have extensive experience in mine development and operations, ranging from
shrinkage stoping of narrow vein gold deposits to longhole mining of massive
sulphides in a diversity of ground conditions. This has taken them from local
work in the western provinces of Canada to colder climates (underground mining
in the NWT, Yukon and Alaska) to international locations (development mining
in Ireland and Greenland and training heavy equipment operators in Russia).
Procon has also been involved in underground excavations for the civil
industry such as hydro penstocks and irrigation aqueducts.

	    <<
	    On behalf of the Board of          On behalf of
	    Directors of                       Kitsaki/Procon Joint Venture:
	    Golden Band Resources Inc.,

	    "Ronald K. Netolitzky"             "Russell Roberts"
	    Ronald K. Netolitzky, Executive    Russell Roberts, CEO
	    Chairman                           Kitsaki Mining Limited Partnership
	                                       306 425 2600
	                                       Email: russell.roberts@kitsaki.com

	                                       "Ed Yurkowski"
	                                       Ed Yurkowski, P.Eng., President
	                                       Procon Mining Partnership
	                                       604 291 8292
	                                       Email: eay@procongroup.net
	    >>

	    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
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.





-30-
	    /For further information: Gary Haywood, P.Eng., COO, Golden Band
Resources Inc., Phone: (306) 955-0787 x7124, Fax: (306) 955-0788, Email:
gary.haywood@goldenbandresources.com; Investor Relations: Raju Wani, (403)
240-0555, Email: info@goldenbandresources.com, www.goldenbandresources.com/
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