Mr. Ronald Netolitzky reports

GOLDEN BAND RESOURCES: DEVELOPMENT UPDATE AND START OF FOLLOW-UP DIAMOND DRILLING ON NEW DISCOVERY

Golden Band Resources Inc. has provided an update on development activities for August and has started follow-up diamond drilling on gold targets discovered during this summer's recently completed exploration program in the La Ronge gold belt of Northern Saskatchewan. The exploration drilling will focus on the Fireweed prospect and on the Round Lake area targets, all of which are in the company's Komis/EP mine area. The company is also pleased to announce the signing of the Greywacke joint venture.

Ron Netolitzky, Golden Band's chairman, notes: "The exploration potential in the Round Lake area has long been recognized and pursued, but it is only with these very recent bulk till anomalies that this area has been explored this effectively and with this degree of encouragement. The exploration program led by Dr. Klaus Lehnert-Thiel focused our exploration efforts on the Round Lake stock area that prior work had not been able to effectively evaluate due to the presence of thick clay cover. The identification of immediate drill targets is very gratifying. The combination of our current till results (work in progress) with all the historical data, points to the requirement of extensive exploration in the greater Waddy Lake area with the initial step being the drilling of new targets. On a longer-term basis the results warrant an integrated effort including geophysics, geochemistry and geology that will commence this winter."

Diamond drilling under way at the newly discovered Fireweed gold prospect

The company is pleased to announce that an initial phase of follow-up diamond drilling has started to test the newly discovered Fireweed gold prospect (see previous news release of Sept. 7, 2011). Golden Band sees this summer's exploration results in the Komis/EP mine area as especially encouraging and is immediately undertaking an initial four-hole program (300 metres) at Fireweed to test the prospect's downdip and on-strike continuity.

Surface work this summer had indicated a potential width of over six metres and an anomalous strike length of 250 metres from the gold-in-till anomaly. The area is covered by overburden up to several metres thick, and trenching over a 36-metre strike length has exposed the subcrop. As previously announced, initial assays from the highly weathered rock returned 3.06 grams per tonne (g/t) gold (Au) over six metres, including 8.17 g/t gold over one metre.

Immediately following the drilling at Fireweed, an initial two diamond drill holes (300 to 400 metres) will be done on the 301 pit bulk till anomaly (see news release of Sept. 7, 2011). Located 300 metres from the Komis mine, this target is especially interesting because of cobbles and pebbles in the pit of quartz-rich intrusive rocks containing chalcocite, chalcopyrite and visible gold grains. The potential source may represent either high-grade or bulk-tonnage types of mineralization.

The company also reports that it completed mapping, outcrop and channel sampling, prospecting, and soil sampling fieldwork on the North Lake project on Sept. 13, 2011. These results will be announced as soon as they are available.

Development update

Gold sales in August were 4,435 troy ounces, at an average price of $1,746.48 (U.S.).

Roy Lloyd mine

Development activity at the Roy Lloyd mine continues to focus on extending the decline access to depth, and will reach the 1200 level, at a depth of 200 metres below surface, before the end of September. At this stage, all capital development for the current mineral reserve will be completed. A diamond drill drift will be developed at this level to enable a 22-hole (2,800-metre) underground drilling program to target inferred resources (155,074 tonnes at 13.89 g/t Au for 67,756 ounces gold) below the 1200 level and upgrade to measured and indicated status for continued mine production into 2012 and 2013. Drilling is expected to commence in late October, 2011.

Development activity on the mineral reserve block between the 1200 and 1265 levels is now under way, with the 1220 level and 1245 level access drifts established.

Komis underground project

Dewatering of the former Komis underground is now completed, and the company has commenced a detailed geological assessment of the deposit. P&E Mining Consultants has been retained to provide expert geological advice on the structural and mineralogical controls to assist the company in determining the optimal resource modelling technique.

Phase 2 of a surface drilling program is now under way to follow up on results obtained from a winter drilling program (see news release of Feb. 16, 2011). A total of 15 holes (3,600 metres) are planned to infill drill the deposit along strike to the west and to depth below the known mineral resource. The objective is to expand the current mineral resource for long-term mine-planning purposes. Upon completion of the geological assessment and phase 2 surface drilling, the company will undertake detailed mine design and preproduction development.

Golden Heart project

This mining project is advancing through the environmental approval process with the 30-day public review period starting on Sept. 16, 2011. The environmental approval process is anticipated to be completed this fall, and, subject to obtaining the approvals in time, the company intends to proceed with site clearing and road access clearing this winter.

Greywacke joint venture

The company (49 per cent) has signed the Greywacke joint venture agreement with Masuparia Gold Corp. (51 per cent and operator) that will allow for the advancement of this exciting project. This will facilitate exploration of the Greywacke deposit, which has a compliant National Instrument 43-101 indicated resource of 184,000 tonnes grading at 8.4 grams per tonne gold (estimated 49,700 troy ounces) plus an inferred resource of 58,000 tonnes at 7.29 grams per tonne gold (estimated 13,600 troy ounces) at a cut-off of five grams per tonne gold (see Masuparia Gold news release of April 7, 2008). The property also has other known gold occurrences and favourable geological trends that warrant exploration. The joint venture also intends to commence collection of baseline environmental data in preparation for the advancement of the Greywacke deposit. As part of the agreement, the ownership of all claims held by the two companies in the immediate area has been incorporated into the joint venture on the basis of 51:49 interests.

We seek Safe Harbor.