Golden Band Resources Inc.

Golden Band Resources Inc.

April 24, 2007 09:30 ET

Golden Band Announces Changes in Executive Team

SASKATOON, SASKATCHEWAN--(CCNMatthews - April 24, 2007) - Golden Band Resources Inc. (TSX VENTURE:GBN) is pleased to announce the appointment of Gary Haywood, P.Eng., to the position of Vice President Operations and Chief Operating Officer. Ronald Netolitzky, currently President and CEO, will become the Company's Chairman of the Board, and Rodney Orr, P.Geo., MBA, presently Vice President Operations and COO, has been appointed President and CEO. These appointments take effect on May 1, 2007.

"These changes in Golden Band's senior management further solidify our well-focused and hands-on team to lead the Company as it progresses from being the leading gold exploration company in the La Ronge belt to Saskatchewan's next gold producer," said Ron Netolitzky. "Gary Haywood's operational gold mining expertise will be invaluable as we maximize our considerable assets and move towards production. Our just released scoping study represents only a small portion of these resources and Gary will be responsible not only for this initial project but also to build our capacities so as to assure the sustainability of our operations. Rodney has handled day-to-day operations since joining Golden Band in early 2004 and has proven himself an able administrator and active member of the Saskatchewan exploration industry, and is very well-qualified for his new role."

In his new responsibility as Chairman of the Board, Mr. Netolitzky remains a vital part of the Golden Band team as we pursue his long-time goal of re-starting production in the La Ronge gold belt. Ron will focus on assisting the Company's senior management in plotting the course along the path to production and will ensure management's strategies, plans, and performance are appropriately represented to the Board.

Gary Haywood was most recently General Manager of Cameco's McArthur River Mine, the world's largest, high-grade uranium deposit. At Golden Band, he will be responsible for all aspects of development, mining, and milling operations. A graduate of the Western Australian School of Mines, Gary is a professional mining engineer with over 20 years open pit and underground experience in Australia and Canada. In addition to a degree in mining engineering, Gary also has a Diploma in Business (Frontline Management) and has completed the Western Australian School of Mines Mining Executive Development Program.

Prior to joining Cameco in 2004, Mr. Haywood was Mining Manager at Sons of Gwalia Ltd.'s Southern Cross gold mine and Resident Mine Manager at their Leonora gold mine in Western Australia. Gary has Saskatchewan gold mining experience as Mine Superintendent at Cameco's Contact Lake Gold Mine. Gary is registered as a Professional Engineer with the Association of Professional Engineers and Geoscientists of Saskatchewan and is a member of the Canadian Institute of Mining, Metallurgy and Petroleum.

As President and CEO, Rodney Orr has the mandate to coordinate and lead Golden Band's activities while ensuring that its exploration and development projects progress together to achieve the Company's Vision and Mission to be Saskatchewan's next producing gold company by discovering and developing quality reserves in a profitable and socially responsible manner; and to maximize shareholder value through the continued use of sound exploration and sustainable development practices and the maintaining of positive, long-term relationships with all stakeholders.

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 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 ten known gold deposits, four former producing mines, and a licensed gold mill. The Company's near-term goals call for development and production from the Bingo, Komis, and EP deposits with processing at the Company's 100%-owned Jolu mill - a project that has received a positive Preliminary Economic Assessment (scoping study). Longer-term objectives include production from the Company's other deposits and the continuation of its highly successful exploration strategy.

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 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

  • Golden Band Resources Inc.
    Ronald K. Netolitzky
    President and CEO
    (306) 955-0787 or Toll Free: 1-866-684-4209
    (306) 955-0788 (FAX)
    Ascenta Capital Partners
    Rory Quinn
    (604) 628-5800 or Toll Free: 1-866-684-4209