Golden Band Resources Inc.
TSX VENTURE : GBN

Golden Band Resources Inc.

January 29, 2007 09:30 ET

Golden Band Resources Starts 2007 Winter Exploration Program

SASKATOON, SASKATCHEWAN--(CCNMatthews - Jan. 29, 2007) - Golden Band Resources ("Golden Band") (TSX VENTURE:GBN) is pleased to announce the start of the 2007 winter exploration program on its La Ronge gold belt projects in northern Saskatchewan. This aggressive drilling program is planned to better-define several gold deposits and to test several new targets and known prospects. The 2007 winter exploration program has an approved budget of $1 million.

The drill program will be a minimum of 3,000 metres and is expected to be completed by late March 2007. Targets for the drilling program are the 100% owned Birch Crossing, Kaslo, Tower East, and Bingo deposits, and the Charlie's Eye and Dog Creek Bay prospects. The drilling at Birch Crossing will support NI 43-101 a resource estimate on the deposit once the drilling is completed.

The winter drilling program has begun with the Birch Crossing deposit. Initially, 1,500 m (14 drillholes) are planned to test the on-strike and depth extents of the high-grade Red Cube-type mineralization and the potential contribution to a potential bulk mining operation of the lower grade Alder Zone. Drilling between 2004 and 2006 identified potentially economic concentrations of gold mineralization at Birch Crossing to a current depth of only 115 m (see news releases of March 2, April 11, December 6, 2006).

Planned drilling at Tower Lake will test for a new mineralized zone west of the currently defined Tower East deposit, and also examine the potential for higher-grade, near-surface resources in the eastern part of the deposit.

Drilling at Charlie's Eye and Dog Creek Bay (1,000 m) will follow-up on the encouraging results from the initial 2006 drilling (see news releases of March 13, April 4, and September 20, 2006).

Three to four deep coreholes (1,200 m total drilling) are also planned in the Bingo deposit to test the down plunge extension of higher-grade mineralization at depth.

Drilling at Kaslo, Tower Lake, Charlie's Eye, and Dog Creek Bay are subject to accessibility during frozen conditions.

Exploration Development Team Expanded

Golden Band is pleased to welcome Frank Hrdy, M.Sc. Geology, MBA, P.Geo. as Mineral Resources Manager. Frank has worked at several successful gold mines in Saskatchewan, Manitoba, and Ontario where his duties included supervising daily geological activities, evaluating and reporting mine resources, and designing exploration programs to increase the gold resource base.

Frank's role with Golden Band is to interface between the exploration and development teams using his practical working knowledge of geology, mining, and geostatistics in order to construct resource models for both surface and underground gold mines. His experience in mine geology and sampling from exploration through production phases is also a great asset as we move forward with both our exploration and development programs.

At Placer Dome's Campbell Gold Mine, Frank was the Qualified Person for calculating and reporting the gold resource and was responsible for assembling and training a resource evaluation team. Frank has also worked on many domestic and international mineral exploration projects. Most recently he was the Exploration Manager for Saskatchewan-based Wescan Goldfields Inc., where his role was to design, implement, supervise and report on surface exploration programs, to evaluate mineral properties for acquisition opportunities, and to publicly present that company's activities.

Frank graduated with a B.Sc. Honors and M.Sc. degree's from the University of Saskatchewan, where the topic of his M.Sc. thesis was how gold deposits form in Saskatchewan. Frank obtained his MBA at the University of Victoria.

About Golden Band

Golden Band Resources is a well-financed Saskatchewan-based company whose focus is the long-term, systematic exploration and development of its La Ronge Gold Belt properties, the majority of which are 100%-owned. Since 1994, Golden Band has assembled through staking and strategic acquisition a land package of more than 750 km2, including ten known gold deposits, four former producing mines, and a licensed gold mill. The development of these assets is the subject of a scoping study which is examining the mining of higher-grade mineralization and processing it at the Company's 100%-owned Jolu Mill.

On behalf of the Board of Directors,

Ronald K. Netolitzky, President and CEO

All of Golden Band's exploration programs and pertinent disclosure of a technical or scientific nature are prepared and/or designed and carried out under the supervision of Ron Avery, P.Geo., Golden Band's Exploration Manager, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

Forward-Looking Information: Certain information contained in this document, including any information as to our future financial or operating performance, constitutes "forward-looking statements". The Company may, from time to time, also make oral forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Many factors may affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this document are qualified by these cautionary statements. We disclaim any intention or obligation to update or revise any any oral or written forward-looking statements whether as a result of new information, future events, or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information