Band-Ore Resources Ltd.

Band-Ore Resources Ltd.

September 29, 2005 16:00 ET

Band-Ore Receives $50,000 Payment From Placer Dome

TORONTO, ONTARIO--(CCNMatthews - Sept. 29, 2005) - On September 8, 2005 Band-Ore Resources Ltd. (TSX:BAN) reported that it had signed a formal agreement with Placer Dome (CLA) Limited, (PDG-TSX), Manager of the Porcupine Joint Venture, for an option agreement on 36 claims (56 claim units) located in Carscallen, Thorneloe, and Denton Townships, termed the "144 Property". Pursuant to the terms of the agreement, Placer can earn a 70% undivided interest in the 144 Property, by making cash payments totalling $500,000 and incurring exploration expenditures of $CDN 2.5 million, over a 5 year period. A 70% (Placer) - 30% (Band-Ore) joint venture will be formed upon completion of the earn-in. Band-Ore will not contribute to the exploration expenditures of the joint venture until a bankable feasibility has been completed. The 30 day due diligence period has now lapsed and Band-Ore has received the initial cash payment of $50,000.00. Exploration programs will commence immediately and will consist of linecutting, geophysics and diamond drilling.

The claims which comprise the "144 Property" cover the western portion of Band-Ore's 100% owned "Thorne Property" and are contiguous to the south of Band-Ore's "Thunder Creek" property which is currently under option to Lake Shore Gold Corp (LSG-TSXV). Lake Shore can earn a 60% interest in the Thunder Creek property by making cash payments totalling $370,000 and by completing exploration expenditures of $1,705,000 over five years and by issuing 100,000 shares of the Company over four years (please see the property map for the claim location on (

The "144 Property" hosts an ultramafic intrusive body similar to that which occurs on Lake Shore's "Timmins Gold" property. This ultramafic body extends for over 1.8 kilometres to the southwest onto the "144 Property". Lake Shore Gold announced that two significant gold bearing zones were intersected in this geological environment during a diamond drill program conducted on the "Thunder Creek Property", with gold values up to 5.84 grams per tonne over 2.05 metres (see press release dated February 14, 2005).

Exploration Update

Thunder Creek Property: Timmins, Ontario

Band-Ore has received an exploration update for a diamond drilling program completed by Lake Shore Gold (LSG-TSXV). So far this year six diamond drill holes have been completed totalling 2,359 metres. Anomalous gold values (greater than 0.10 g/t Au) were encountered in four of the six holes. Hole TC05-24 returned the most significant assay result of 1.46 g/t Au over 10.0m, including a 0.70 metre section which assayed 13.3 g/t Au. Hole TC05-24 also intersected a lower zone which averaged 0.66 g/t Au over 8.1m including a 2.0 metre section which assayed 1.57 g/t Au (core length). This hole was drilled in the area of historic surface gold showing and previous drill hole TC03-06 completed by Lake Shore which assayed 3.7 g/t Au over 3.7 metres.

Thorne Property: Timmins, Ontario

Drilling is continuing on the Company's flagship gold property in Timmins, Ontario. Results received for recent drilling include 7.38 g/t gold over 1.0 metres (core length) from hole GS-05-6, which was drilled to test the Thibault Horizon on the east side of the Tatachakapika River. Hole GS-05-6 returned several other anomalous values, up to 1.16 g/t Au over 1 metres (core length). Gold mineralization occurs within a broad deformation - alteration zone (quartz, ankerite, sericite, fuchsite, pyrite) termed the Thibault Horizon, and is located approximately 1 km to the south of the Golden River Deformation Zone.

A series of holes are currently being drilled in a west to east direction within the central portion of the Golden River Deformation Zone. These holes are being drilled to test for gold mineralization which may be associated with interpreted fold nose structures (with westerly plunges) and other potential northerly striking structural features. Furthermore, the Company is employing core orientation drilling techniques, using the Ezy-Mark System, developed by 2iC Australia Pty. Ltd. The recovery of orientated core is being conducted in order to better understand and help define the complex geometry of previously discovered gold mineralized zones hosted within the Golden River Deformation Zone.

This press release has been reviewed and approved for release by Robert Duess, Professional Geologist, and the Company's Qualified Person.

Safe Harbour - Certain statements in this document constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed by such forward-looking statements. Such factors include, among others, exploration works as detailed within may not be continually successful, that by virtue of exploration there is never a guarantee of economic or profitable outcomes; that exploration companies may have a history of operating losses and no guarantee of future profitability or uncertainty of access to additional capital, environmental liability claims and insurance; dependence on and priority conflicts joint-venture partners; should the company profiled herein seek such a partner.

S.E.C. EXEMPTION: #82-4233

SHARES: 39,673,147

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