GBN.V April, 2012 Presentation

The April, 2012 Presentation was not posted to the front page of the GBN.V website. It can be found under 'Corporate Materials.'

YTD Highlights summarizes numbers not previously mentioned at any other time.

EP zone production was presumed to be added at the end of Q3. How the mix turns out in Q4 is an open question.

NOW they state total cash cost. It was like PULLING TEETH to get it finally.

All-in cost well within expectations, as well as grade controls are very good.

Are they going to be producing 75k oz. by April, 2013 and 100k oz. by April, 2014?

http://www.goldenbandresources.com/images/file/gbn-Mining-Supply-Chain-Forum-2012.pdf

As far as the Waterton deal goes, this is obviously a CAPEX meant for development and expansion. I don't think this changes the numbers, as regards cash flow. It might mean that in order to declare earnings as development cash, it goes into long-term liabilities and that it might solve CAPEX requirements for the mill expansion to 1000tpd. Of course, this is all done-deal by now, the major CAPEX requirement being solved and the financing closed, and the gold price breaking out. It would be nice for bond prices to crash now, wouldn't it?

But I insist they might still be able to declare an eligible 3¢ dividend. My guess.

-F6