Band-Ore Resources Ltd.

Band-Ore Resources Ltd.

November 10, 2005 09:00 ET

Band-Ore Signs Letter of Intent on Wawa Diamond Property

TORONTO, ONTARIO--(CCNMatthews - Nov. 10, 2005) - Band-Ore Resources Ltd. (TSX:BAN) reports that it has signed a Letter of Intent with a private company ("Privco") on the GQ Diamond Property, located in Musquash Township, near Wawa, Ontario. Pursuant to the proposed terms, "Privco" can earn a 60% undivided interest by incurring exploration expenditures of $2.5 million over a 4 year period, including a firm work commitment of $500,000 during the first year of the agreement. This letter of intent is non binding and the formal option agreements are subject to the approval of management and the Board of Directors of both Band-Ore and "Privco". Once the final agreements have been executed, full details of the terms will be released.

The "GQ Diamond Property" covers an area of 39 square kilometres where over 20,000 microdiamonds and 121 macrodiamonds have been recovered from caustic fusion processing. Band-Ore also has recovered a 0.254 carat white octahedral broken diamond from a mini bulk sample taken from the Engagement Zone.

Immediately to the north of the GQ property, Goldcorp Inc. (G-TSX) is earning an interest in Pele Mountain's (GEM-TSXV) Festival diamond property. A 300 tonne bulk sample was recently extracted by Goldcorp from the Cristal diamond occurrence, located just north of the GQ property boundary. A 0.72 carat diamond has been previously recovered by Pele Mountain from the Cristal.

In Chabanel Township, located adjacent to the south of Musquash Township, Dianor Resources (DOR-TSXV) and Dr. Charles (Chuck) Fipke's, Metalex Ventures (MET-TSXV) have teamed up to explore the Leadbetter Diamond Property. Several commercial sized diamonds have been recovered from the Leadbetter Property including a 1.39 carat gem quality diamond which was found in a creek.

Band-Ore also has two partners conducting exploration programs on gold projects in Timmins, Ontario, Placer Dome (PDG-TSX) and Lake Shore Gold (LSG-TSXV).

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

Contact Information