Golden Band Resources Inc.
TSX VENTURE : GBN

Golden Band Resources Inc.

March 12, 2007 16:54 ET

Golden Band Intersects More High Grade Gold at Birch Crossing Deposit

SASKATOON, SASKATCHEWAN--(CCNMatthews - March 12, 2007) - Golden Band Resources Inc. (TSX VENTURE:GBN) is pleased to announce the initial results of its 2007 winter drilling program on the Company's 100%-owned Birch Crossing gold deposit in the La Ronge Gold Belt of northern Saskatchewan. Most notably, 14 of the 15 holes completed in this first phase returned significant gold values. The Birch Crossing deposit is situated along the Byers structural zone between Golden Band's Tower East and Kaslo gold deposits. Birch Crossing was discovered by drilling in 2004, following up a gold-in-till anomaly identified by Golden Band. Seventy-two of the 82 drillholes completed to date at Birch Crossing are mineralized. The complete listing of significant intercepts in the current phase of drilling is presented in the attached Table.

Highlights from the first phase of this winter's drilling at Birch Crossing include:

- BC-66: 251 g/t Au over 1.0 m; and 5.7 g/t Au over 11.3 m, including 24.6 g/t Au over 2.3 m.

- BC-67: 4.2 g/t Au over 8.1 m, including 78.6 g/t Au over 0.3 m.

- BC-69: 1.4 g/t Au over 22.0 m.

- BC-70: 3.0 g/t Au over 9.0 m; and 9.1 g/t Au over 7.7 m, including 36.7 g/t Au over 0.85 m.

- BC-73: 4.0 g/t Au over 6.8 m, including 16.1 g/t Au over 0.85 m; 3.1 g/t Au over 11.9 m, 27.2 g/t Au over 1.0 m; and 13.5 g/t Au over 2.9 m.

- BC-78: 2.8 g/t Au over 5.3 m, including 16.2 g/t Au over 0.5 m.

- BC-79: 10.8 g/t Au over 6.3 m, including 41.8 g/t Au over 1.5 m; 102.3 g/t Au over 0.6 m; 88.3 g/t Au over 0.55 m; 7.3 g/t Au over 7.0 m; and 45.8 g/t Au over 0.5 m.

- BC-80: 11.6 g/t Au over 1 m.

With 14 of the 15 drillholes completed in Phase 1 of the 2007 program containing noteworthy gold intersections across multiple zones, Golden Band continues to be especially encouraged by these latest results. Drilling has now extended the mineralization to a vertical depth of 167 metres. The geological interpretation is now refined to the point of being able to establish the distribution and continuity of multiple mineralized structures.

Phase 1 saw a total of 15 NQ-diameter diamond-drill holes (BC-66 to BC-80; 2,048.1 m) completed primarily as undercut holes examining the continuity of gold mineralization at greater depth in the centre of the deposit (Figure 1). All assay intervals reported are as measured along the core axis and may not represent true lengths.

A second phase of up to 1,100 metres drilling at Birch Crossing is scheduled to be completed before spring break-up. This will include drilling in the higher-grade eastern and southern areas which remain open on-strike and at depth. With the completion of the winter drilling, sufficient drillhole density will be available to support an initial gold resource estimate on this deposit. Additional summer drilling is anticipated as we may have insufficient time to complete the recommended drilling prior to break-up.

Winter drilling has also been completed at two other targets, Tower East gold deposit (9 DH, 1,024.1 m) and Phantom target (4 DH, 371.8 m), with drilling of a fourth target, Charlie's Eye, currently underway. These results will be released as they become available. Accurassay Laboratories in Thunder Bay, ON, carried out all assays. A quality control program is in place.

Birch Crossing - Overview Summary of Drilling Strategy and Deposit Geology

All of the holes completed during Phase 1 of the 2007 drilling have been drilled on a northern azimuth, approximately perpendicular to the east-northeasterly trending mineralized zones at Birch Crossing. Of the 15 drillholes completed in Phase 1, four (BC-69, 70, 75, & 76) were intended to determine the down-dip and the easterly on-strike extent of the broad (10-20 m wide), potassic altered shear/mylonite-hosted gold mineralization contained in the lower-grade Alder Zone, located at the northern margin of the Byers Tectonic Zone within the deposit area.

The majority of holes (10 of 15: 1676.2 m) completed during Phase 1 were planned to provide further definition on the structure and mineralization potential of three, higher-grade, subparallel quartz vein systems which occupy a 50-100 m-wide structural corridor within the Byers Tectonic Zone, south of the Alder Zone. From south to north, these quartz vein systems are the Red Cube South (RCS), Red Cube North (RCN) and Red Cube North-2 (RCN-2) zones.

Each of the Red Cube-type, quartz vein-hosted, mineralized assemblages are spaced 20-60 metres apart and are oriented subparallel to one another within the regionally east-northeast trending Byers Tectonic Zone. The quartz veins dip vertically or steeply to the south. Detailed core logging and petrographic studies indicate the quartz veins occupy dilatant areas of brittle fracture infilling which commonly occupy the contacts between intrusive and volcanic rocks throughout the Birch Crossing deposit.

The quartz veining is accompanied by a potassic alteration assemblage consisting of biotite-carbonate-potassic feldspar-hematite and pyrite which encloses the quartz veins in a variable, low- to high-grade envelope of gold mineralization on the order of 0.5-5 g/t Au/1 m. The quartz veins themselves can contain bonanza grade intervals of up to 251.4 g/t Au/1.0 (DH BC-66) associated with coarse clots and cubes of oxidized pyrite and rare chalcopyrite.

Previous drilling at Birch Crossing in 2006 likely indicated the western termination of the Red Cube-hosted mineralization in the deposit. The recent fence of drillholes (BC-77, 78 & 80), which is a 50 metre step-out to the east from BC-73, BC-74 and BC-79, indicates that two of the three mineralized quartz vein systems (Red Cube North and North-2 zones) remain open to the east. A second round of drilling at Birch Crossing scheduled to commence in mid-March will concentrate on extending the strike extent of the Red Cube mineralization further to the east.

An additional component of Golden Band's 2007 Phase 2 drilling program will be to outline additional Red Cube Zone-hosted mineralization at greater depth. Currently, the deepest vertical intersection of the Red Cube-type gold mineralization in the Birch Crossing deposit is 167 metres (BC-67). The deposit is considered to be open to the east beyond the 160-metre strike length of the Red Cube mineralized zone(s) currently defined by drilling, and is also open down-dip.

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 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 oral or written forward-looking statements whether as a result of new information, future events, or otherwise.



Birch Crossing Deposit Assay Data,
2007 Winter Drilling Program
Aggregated Uncut Gold Results
Based on 1,451 Standard Fire Assays (including 141 check samples)
(measured intervals are along the drillhole; range: 0.3 to 2.5 m,
median: 1.5 m)

Fire
Azim Drill- Assay
uth/ hole Inter- (g/t
Drill- Inclin- Depth From To val Au)
hole ation (m) (m) (m) (m) (1) Target
---------------------------------------------------------------------------
BC-66 360 213.4 27.50 29.00 1.50 0.54
degrees/ ----------------------------------------------------
-60 54.70 56.20 1.50 0.778
degreesN ----------------------------------------------------
57.70 59.80 2.10 1.44
----------------------------------------------------
61.00 66.40 5.40 2.06
----------------------------------------------------
including 62.00 62.95 0.95 7.85
----------------------------------------------------
78.60 80.30 1.70 1.29
----------------------------------------------------
90.70 91.70 1.00 0.89 Red Cube
---------------------------------------- South-
92.70 104.00 11.30 5.73 upper zone
----------------------------------------
including 95.70 98.00 2.30 24.56
----------------------------------------------------
110.00 113.00 3.00 3.40
----------------------------------------
117.00 118.00 1.00 0.73 Red Cube
---------------------------------------- South-
118.00 119.00 1.00 251.41 lower zone
----------------------------------------
119.00 122.00 3.00 0.70
----------------------------------------
125.00 126.50 1.50 1.99
----------------------------------------------------
144.10 145.10 1.00 134.44 Red Cube
---------------------------------------- North
145.10 147.10 2.00 0.64
----------------------------------------------------
184.60 186.10 1.50 1.97
----------------------------------------------------
190.00 191.10 1.10 1.90 Red Cube
North-2
----------------------------------------------------
202.10 204.70 2.60 5.83 ?
---------------------------------------------------------------------------
BC-67 360 201.2 104.60 112.70 8.10 4.24 Red Cube
degrees/ ---------------------------------------- South
-60 including 109.90 110.20 0.30 78.60
degreesN ----------------------------------------------------
130.50 132.00 1.50 0.60
----------------------------------------------------
159.00 160.50 1.50 0.53 Red Cube
---------------------------------------- North
163.00 165.10 2.10 0.60
----------------------------------------------------
182.90 184.20 1.30 1.01
----------------------------------------------------
200.00 201.17 1.17 4.36 Red Cube
North-2
---------------------------------------------------------------------------
BC-68 360 253.0 12.00 13.50 1.50 6.19
degrees/ ----------------------------------------------------
-60 174.50 175.50 1.00 1.99
degreesN ----------------------------------------------------
183.00 184.50 1.50 0.52 Red Cube
---------------------------------------- South
185.70 186.50 0.80 0.87
----------------------------------------------------
222.00 224.00 2.00 0.68 Red Cube
North
----------------------------------------------------
240.35 241.40 1.05 0.82
----------------------------------------------------
243.20 243.90 0.70 0.58
----------------------------------------------------
251.50 252.96 1.46 2.59 Red Cube
North-2
---------------------------------------------------------------------------
BC-69 360 61.0 10.00 32.00 22.00 1.36 Alder Zone
degrees/
45
degreesN
---------------------------------------------------------------------------
BC-70 360 146.3 20.20 23.20 3.00 0.70
degrees/ ----------------------------------------------------
-60 33.70 38.00 4.30 0.82
degreesN ----------------------------------------------------
57.80 60.50 2.70 1.69
----------------------------------------------------
74.00 75.10 1.10 0.67
----------------------------------------------------
83.70 85.20 1.50 0.52
----------------------------------------------------
98.50 107.50 9.00 3.01
----------------------------------------
110.50 112.00 1.50 1.26
----------------------------------------
114.10 115.30 1.20 1.81
----------------------------------------
118.30 119.90 1.60 1.03 Alder Zone
----------------------------------------
122.10 129.80 7.70 9.11
----------------------------------------
including 127.50 128.35 0.85 36.69
----------------------------------------
129.80 131.30 1.50 0.87
---------------------------------------------------------------------------
BC-71 360 61.0 20.50 21.50 1.00 0.75 Red Cube
degrees/ North
-60 ----------------------------------------
degreesN 22.50 27.00 4.50 1.46 Zone not
intersect-
ed
---------------------------------------------------------------------------
BC-72 360 82.3 10.50 14.30 3.80 0.80 Red Cube
degrees/ ---------------------------------------- N-2
-45 36.80 38.50 1.70 0.56 Zone not
degreesN ---------------------------------------- intersect-
49.00 50.50 1.50 1.52 ed
---------------------------------------------------------------------------
BC-73 360 170.7 5.40 12.20 6.80 4.01
degrees/ ----------------------------------------
-60 including 5.40 6.25 0.85 16.08 Red Cube
degreesN ---------------------------------------- South
13.60 25.50 11.90 3.09
----------------------------------------
including 21.40 22.20 0.80 9.91
----------------------------------------------------
31.50 32.90 1.40 3.93
----------------------------------------------------
44.10 47.50 3.40 1.81
----------------------------------------------------
52.00 53.50 1.50 0.96
----------------------------------------------------
60.50 69.00 8.50 2.86
----------------------------------------------------
85.50 90.10 4.60 1.55 Red Cube
---------------------------------------- North
including 88.70 89.20 0.50 5.85
----------------------------------------------------
117.00 118.50 1.50 2.21 Intrusive
---------------------------------------- contact
121.50 122.50 1.00 27.21 zone
----------------------------------------
122.50 124.00 1.50 0.55
----------------------------------------------------
131.00 133.90 2.90 13.49 Red Cube
---------------------------------------- North-2
including 132.60 133.15 0.55 64.47
---------------------------------------------------------------------------
BC-74 360 170.7 22.10 30.40 8.30 1.99 Red Cube
degrees/ North
-60 ----------------------------------------------------
degreesN 77.40 78.90 1.50 0.72
---------------------------------------------------------------------------
BC-75 360 82.3 60.00 63.00 3.00 0.95
degrees/ ----------------------------------------
-45 67.50 69.00 1.50 2.34
degreesN ---------------------------------------- Alder Zone
72.00 79.50 7.50 1.04
----------------------------------------
81.00 82.30 1.30 0.83
---------------------------------------------------------------------------
BC-76 360 82.3 42.00 45.60 3.60 2.93 Alder
degrees/ ---------------------------------------- Zone
-45 48.60 51.60 3.00 3.47
degreesN ----------------------------------------------------
76.20 77.70 1.50 1.62
---------------------------------------------------------------------------
BC-77 360 85.3 19.05 21.00 1.95 1.59
degrees/ ----------------------------------------------------
-45 39.00 40.50 1.50 0.95
degreesN ----------------------------------------
40.50 44.50 4.00 2.31
----------------------------------------
44.50 46.00 1.50 0.51
---------------------------------------- Red Cube
48.20 49.50 1.30 0.73 North
----------------------------------------
50.50 55.50 5.00 2.52
----------------------------------------
including 52.50 53.50 1.00 7.22
----------------------------------------------------
58.50 60.00 1.50 0.56
----------------------------------------------------
76.50 78.50 2.00 2.63 Red Cube
---------------------------------------- North-2
78.50 80.00 1.50 0.90
---------------------------------------------------------------------------
BC-78 360 91.4 35.20 40.50 5.30 2.82
degrees/ ---------------------------------------- Red Cube
-45 including 38.50 39.00 0.50 16.17 North-2
degreesN ----------------------------------------
40.50 42.00 1.50 0.52
---------------------------------------------------------------------------
BC-79 360 231.4 59.00 65.35 6.35 10.82 Red Cube
degrees/ ---------------------------------------- South
-60 including 62.90 64.40 1.50 41.84
degreesN ----------------------------------------------------
75.00 77.50 2.50 0.77 Felsic
dykes
----------------------------------------------------
83.50 85.00 1.50 0.58 Narrow
quartz
veins
----------------------------------------------------
92.00 96.50 4.50 0.64 Narrow
quartz
veins
----------------------------------------------------
142.40 143.00 0.60 102.32 Red Cube
North
----------------------------------------------------
172.65 173.20 0.55 88.26 Red Cube
---------------------------------------- North-2
173.20 174.20 1.00 1.50
----------------------------------------------------
191.50 192.50 1.00 1.28 Dyke +
quartz
veins
----------------------------------------------------
198.00 205.00 7.00 7.32
----------------------------------------
including 201.00 201.50 0.50 35.13 Red Cube
North-3?
----------------------------------------
including 203.50 204.00 0.50 45.79
---------------------------------------------------------------------------
BC-80 360 115.8 31.00 35.50 4.50 2.47 Intrusive
degrees/ contact
-60 ----------------------------------------------------
degreesN 74.00 75.00 1.00 11.55 Red Cube
---------------------------------------- North
80.40 84.40 4.00 2.40
----------------------------------------------------
97.90 100.90 3.00 0.66 Red Cube
---------------------------------------- North-2
103.90 105.40 1.50 0.67
---------------------------------------------------------------------------
(1) Length-weighted averages.

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