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SASKATOON, March 3 /CNW/ - Golden Band Resources Inc. (TSXV:GBN) is
pleased to provide a progress update on gold production and resource
definition drilling for the Company's 100%-owned La Ronge Gold project
in northern Saskatchewan.




Jolu Gold Mill Operation




Golden Band achieved the planned mill throughput of 400 tonnes per day
(tpd) at its Jolu gold mill in February, 2011.




The increase in mill throughput in February has brought year-to-date
gold dore production to 2,671 troy ounces with a further 1,800 troy
ounces anticipated over the next week of operation from current
in-circuit gold inventory. This will draw the inventory down to normal
operating levels. The Company expects to meet its annual gold
production target of 45,000 ounces.




The high level of in-circuit gold inventory was the result of start-up
issues that had caused delays in the extraction of gold in processing
the 16,500 tonnes of ore from the Roy Lloyd mine in January and
February. These issues have now been largely resolved.




Ronald Netolitzky, Executive Chairman, reported "This is a significant
achievement for Golden Band. With mill throughput reaching the targeted
rate of 400 tonnes per day, we have taken a big step towards attaining
our targeted annual gold production of approximately 45,000 ounces.
With the price of gold at or near record levels, it is an exciting time
for the Company. We can now focus our efforts and resources on
developing the EP and Komis gold deposits, which will allow us to ramp
up to a mill throughput rate of 700 tpd and annual production of 70,000
ounces".




Roy Lloyd Mine Operation




Pre-production development and construction of surface and underground
infrastructure is complete and the Company has commenced production
mining of the first stoping block of high grade ore on the 1340 level.




The Company has also commenced development of the decline to extend ramp
access below the existing 1265 level. This development will gain access
at the 1200 level and enable an underground diamond drilling program to
be conducted later this year. This diamond drilling is planned to
convert the current National Instrument 43-101 inferred resource of
155,074 tonnes at 13.89 grams/tonne gold to the National Instrument
43-101 measured and indicated resource category and allow production
planning to a depth of 400 metres.




Resource Definition Drilling: Komis, Golden Heart, and Alimak Gold
Deposits




Surface drilling was completed at the Golden Heart gold deposit at the
end of January with assay results pending. Drilling of the Alimak Zone
at the historic Jolu underground gold mine has been completed, while
drilling on the nearby Decade gold deposit was suspended to allow ice
conditions at the Mallard tailings management facility to improve.
Drilling is scheduled to resume in March.




Golden Heart Project Permitting




As expected, the Company was notified on November 16, 2010 by the
Saskatchewan Ministry of Environment (MoE) that the Company's project
proposal describing the operation of an open pit and underground mine
submitted in September 2010, will require Ministerial Approval pursuant
to the provincial Environmental Assessment Act. Confirmation was
received from the Canadian Environmental Assessment Agency on January
6, 2011 that the Canadian Environmental Assessment Act does not apply
to the project.




Draft project specific guidelines were issued by MoE on January 15, 2011
for public review and comment. The project specific guidelines will be
used by the Company to develop an environmental impact statement for
the proposed project. Public information meetings were held in January
and February in the following communities: La Ronge, Brabant Lake,
Southend, Missinipe, Grandmother's Bay, Stanley Mission, and Sucker
River.




Gary Haywood, Vice President, Operations and Chief Operating Officer,
reports that "The environmental assessment of the Golden Heart Mine is
part of Golden Band's plan for sustained gold production from the La
Ronge Gold project. We are very pleased that the provincial
environmental assessment process is proceeding in a timely manner that
allows us to move ahead with our planning process. We expect to submit
an environmental impact statement for this project in March of this
year".




Corporate Update




The Company has added an additional $3 million over-allotment to its
recently announced equity offering (see news release dated February 18,
2011), bringing the size of the offering to $18 million. This
additional $3 million in equity (both flow-through and non flow-through
units) will be issued at previously announced terms on a private
placement, non-brokered basis.




The Company reports that effective February 1, 2011, Rodney Orr was
appointed Vice President of Corporate Development. Responsibilities
include: community and northern affairs; regulatory and corporate
affairs; marketing, communications and investor relations;
non-production exploration; land management; and strategic planning.




About Golden Band




Golden Band Resources, already Saskatchewan's leading gold explorer, is
now its newest 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 km2, 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, EP, Komis, 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 exploration programs and pertinent disclosure of a
scientific nature are prepared and/or designed and carried out under
the supervision of Charlie Harper, P.Geo., 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.




For further information: Gary Haywood, P.Eng., COO Fax: 306 955 0788
Golden Band Resources Inc. Email: gary.haywood@goldenbandresources.com
Phone: 306 955 0787 x7124

Investor Relations:
Raju Wani, 403 240 0555 Email: info@goldenbandresources.com
Tony Perri: 604 682 6852 http://www.goldenbandresources.com/">www.goldenbandresources.com