Golden Band Resources Inc.
TSX VENTURE : GBN

Golden Band Resources Inc.

September 29, 2005 17:55 ET

Golden Band Appoints Stuart Diamond to Board of Directors

SASKATOON, SASKATCHEWAN--(CCNMatthews - Sept. 29, 2005) - Golden Band Resources Inc. (TSX VENTURE:GBN) announced today the appointment of Stuart Diamond to its Board of Directors.

"Golden Band's Board will be strengthened by Stuart Diamond's breadth of business experience and knowledge of capital markets," said Ron Netolitzky, President of Golden Band.

A resident of Pennsylvania, Mr. Diamond is a Professor of Legal Studies at The Wharton School of the University of Pennsylvania, an Adjunct Professor of Law at Penn Law School and is president of Global Strategy Group, a consulting firm, of Philadelphia.

Mr. Diamond has been an officer or director in a variety of entrepreneurial ventures, including wireless communications, medical clinics, and other technology-based businesses. He was an executive of a Wall Street energy futures brokerage firm, and negotiated the sale of the firm. He has worked at the law firm of Sullivan & Cromwell and the investment bank of Morgan Stanley. He holds a law degree from Harvard and an M.B.A. from The Wharton School and has taught and advised on negotiation to corporate and government leaders in more than 40 countries, including half of the Global 100 firms. In 2004 he represented the borrower in completing the largest foreign-sourced commercial financing in the history of Ukraine, a $107.5 million Eurobond issue to finance commercial space ventures. In June, 2005, he became Chairman and CEO of Four Star Aviation of St. Thomas. He has also been chairman of Summus, a publicly-traded wireless firm, in the United States. In a prior career, Mr. Diamond was a journalist, including at The New York Times where he won a Pulitzer Prize as a part of a team investigating the crash of the space shuttle Challenger. He has written two books, two documentary films, and more than 2,000 published articles.

Mr. Diamond's appointment comes at a time when Golden Band's focus is evolving beyond exploration to eventual development and gold production. His experience in and knowledge of the financial markets will be a valuable addition to the Company's existing Board in these new endeavours.

Golden Band's near-term objective is to delineate sufficient ounces of high-grade gold resources, such as at the Company's 100%-owned Bingo deposit, that are within trucking distance of the Company's Jolu mill. This would form a core resource to commence operations. It is anticipated that production could begin with a relatively low capital investment within a few months of a positive feasibility study and receipt of the necessary approvals. The Company's longer-term objective is production from its gold deposits in the Greater Waddy Lake area where the bulk of the Company's resources occur.

Issuing Stock Options

The Board has approved the issuance of 1,100,000 options under the Company's Stock Option Plan. These options, to be granted to directors, officers, employees, and consultants of the Company, will be priced at $0.32 per share, and will vest in accordance with TSX Venture Exchange guidelines.

On behalf of the Board of Directors,

Ronald Netolitzky, President and Director

All of Golden Band's exploration programs and pertinent disclosure of a technical or scientific nature are prepared by or prepared under the direct supervision of Klaus Lehnert-Thiel, P.Eng., P.Geo., Golden Band's Vice President of Exploration, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

Forward-Looking Statements:

Some of the statements in this news release contain forward-looking information which involves inherent risk and uncertainty that may affect the business of Golden Band Resources Inc. Actual results may differ materially from those currently anticipated in such statements.


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

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