Golden Band Resources Signs Exploration MoU with Anhui Geology

Golden Band Resources Signs Exploration MoU with Anhui Geology

Golden Band Resources Inc. (GBN: TSXV) reports that it has signed a Memorandum of Understanding (MoU) with the Bureau of Geology and Mineral Exploration of Anhui Province, Peoples Republic of China (Anhui Geology). Contemplated under the MoU are exploration-stage gold projects that Anhui Geology may elect to participate in under business relationships that would be determined in subsequent discussions. Anhui Geology is setting up a company to be based in Saskatoon and has undertaken the conclusion of possible further agreements with Golden Band in March 2009.

Rodney Orr, Golden Band’s President and CEO, who signed the MoU on behalf of the Company, stated: “This MoU demonstrates a clear recognition of Golden Band’s exploration opportunities and the very positive environment in Saskatchewan for mineral resource development. I welcome the opportunity to discuss this further with Anhui Geology and look forward to considering a more comprehensive exploration-stage agreement. The long-term strategic focus that Golden Band has had in the La Ronge Gold Belt since 1994 affords us many opportunities to advance both our exploration and our development objectives. Partnerships with groups such as Anhui Geology are welcome ways to be seriously considered in order to best advance our projects.”

The signing by Golden Band Resources and Anhui Geology took place in Beijing on November 13, 2008 while Golden Band was attending meetings that included its participation as part of the Saskatchewan and Canadian delegations to the China Mining 2008 conference. Mr. Hou Qi Biao, Deputy General Manager, represented Anhui Geology at the signing. Anhui Geology had identified Golden Band as its first potential partner in Saskatchewan and had previously met with Golden Band in Saskatoon in December 2007 and March 2008 after being introduced by Saskatchewan Energy and Resources officials.

Golden Band Resources, already Saskatchewan’s leading gold explorer, is now poised to also become a gold producer. Golden Band is a well-financed, Saskatchewan-based, publicly listed company (GBN: TSXV) 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 km(2), including 12 known gold deposits, four former producing mines, and a licensed gold mill. Golden Band’s key value drivers are the methodical and systematic targeting of primary to advanced-stage exploration while progressing along a parallel path to becoming a sustainable gold producer. The Company is aggressively pursuing its near-term goal for the development and production of its 100%-owned Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill – a project that received a positive expanded Preliminary Economic Assessment (scoping study) on February 26, 2008 (filed on SEDAR on April 10, 2008). Longer-term objectives include production from the Company’s other deposits and the continuation of its highly successful exploration and acquisition strategy.

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