Golden Band Resources Inc.
TSX VENTURE : GBN

Golden Band Resources Inc.

January 16, 2006 11:45 ET

Golden Band Resources Appoints John Tosney to Board of Directors

SASKATOON, SASKATCHEWAN--(CCNMatthews - Jan. 16, 2006) - Golden Band Resources Inc. (TSX VENTURE:GBN) announced today the appointment of John Tosney, P.Eng., to its Board of Directors.

"Golden Band welcomes John Tosney to the board at this important period in the company's continued growth", said Ron Netolitzky, President of Golden Band. "With his many years of hands-on experience in Saskatchewan, John brings very valuable knowledge and contacts to Golden Band at a time when the Company is looking to capitalize on its many assets."

John Tosney's career in mining engineering has contributed to the development of Saskatchewan's mining industry for the past 24 years. Mr. Tosney has had close involvement in many Saskatchewan gold projects, being involved in feasibility studies, environmental assessments, licensing, construction, operations and early decommissioning at the Star Lake, Jasper, and Contact Lake mines.

Mr. Tosney's leadership skills and technical expertise have taken him from Saskatchewan Mining Development Corporation (1981) to senior management positions with Cameco Corporation, President of Cigar Lake Mining Corporation, and Executive Vice President of COGEMA Resources Inc. (Areva Group). Nearing retirement, Mr. Tosney currently serves as Executive Advisor at COGEMA. While COGEMA owns approximately 1.2% of Golden Band's shares, it will not have any input into Mr. Tosney's activities with Golden Band.

Golden Band's focus is evolving beyond exploration to development and gold production and John's experience in and knowledge of the industry are a valuable addition to the Company's Board. In addition to his engineering expertise, John has also for many years played a leading role as an industry representative on many committees dealing with development issues in northern Saskatchewan. In recognition of his career, John received the 2005 Outstanding Achievement Award by the Association of Professional Engineers and Geoscientists of Saskatchewan.

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 of Directors has approved the issuance of 500,000 options under the Company's Stock Option Plan. These options, to be granted to a director, 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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