Mr. Ronald Netolitzky reports

GOLDEN BAND RESOURCES ANNOUNCES $10,000,000 PRIVATE PLACEMENT THROUGH NORTHERN SECURITIES INC.

Golden Band Resources Inc. has arranged a private placement with Northern Securities Inc. for gross proceeds of up to $10-million with a bought-deal commitment from Northern Financial Corp., subject to certain conditions. The private placement is subject to Northern Securities completing due diligence and other customary closing conditions. The offering will consist of a minimum of $5-million in units and up to $5-million in flow-through units, at a price of 45 cents per unit and 58 cents per flow-through unit. The company has also granted Northern Securities an overallotment option to place up to an additional $5-million in units, flow-through units or a combination thereof.

Each unit will consist of one common share and one common share purchase warrant (hard dollar warrant). Each hard dollar warrant is exercisable for a period of three years, entitling the holder to acquire one common share at an exercise price of 60 cents for the first two years and at an exercise price of 65 cents for the final year.

Each flow-through unit will consist of one common share and a half common share purchase warrant. Each warrant is exercisable for a period of two years, entitling the holder to acquire one common share at an exercise price of 70 cents.

As compensation for the offering, Golden Band will pay Northern Securities a commission equal to 8 per cent of the aggregate gross proceeds of the offering and will issue to Northern Securities a number of broker warrants equal to 8 per cent of the aggregate number of units and flow-through units sold pursuant to the offering. Each broker warrant will be exercisable into one unit at the unit issue price for a period of two years. No commission will be payable to Northern Securities in respect of up to $3-million of subscriptions from the president's list.

The offering is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period.

The gross proceeds from the issuance of the flow-through units will be used to incur Canadian exploration expenses (as defined in the Income Tax Act (Canada)). The net proceeds from the issuance of the units will be used for exploration and development of the corporation's La Ronge project, and for general corporate and working capital purposes.

Ronald Netolitzky, Golden Band's executive chairman, commented: "This financing will enable Golden Band to drill various deposits, most importantly the Komis deposit, which has not been drilled to depth and is open along strike and at depth. As a new producer, we are focused on resource expansion in several of our 12 deposits to generate a steady mill feed for the Jolu mill. Our ultimate goal is to operate our mill at 1,000 tonnes per day and to produce 100,000 ounces per year."

We seek Safe Harbor.