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Golden Band Resources Inc. (GBN: TSXV) is very
pleased to provide this progress update for the Company's 100%-owned La Ronge Gold Project in northern Saskatchewan.
Jolu
Mill Operation - 15.9 Kilogram Gold Pour Achieved
Golden Band Resources produced the first doré gold bar at the Company's Jolu
mill on January 12, 2011. This initial 15.9 kg
(approximately 500 troy ounces) gold bar was produced from high-grade ore
mined at the Company's 100%-owned Roy Lloyd
Mine (Bingo Deposit) and processed through the gravity circuit of the mill.
Ronald
Netolitzky, Executive Chairman, reports, "It
has been a long time in coming, but our path to production has now been
realized, and the goal of becoming Saskatchewan's newest gold producer has
been achieved. We look forward with great optimism to a successful future for
Golden Band and to growing the La
Ronge Gold Project over the next several years to
achieve our longer-term goal of producing 100,000 gold ounces per year. With
this major milestone accomplished, I also want to extend our great thanks to
everyone in Golden Band who worked to achieve
this momentous event, to our many partners who provided immense help and
support, and to our shareholders."
The
Jolu Mill is comprised of gravity and carbon in
pulp (CIP) circuits. The mill has been processing ore since December 23, 2010 (see previous news
release of December 23, 2010). Processing of
the gravity concentrate was delayed due to minor technical malfunctions in
some of the newly installed equipment that have now been rectified. Leaching
of gold in the CIP circuit is progressing as planned and will contribute to
subsequent gold production. Over the next month, plant operation will
continue to troubleshoot and rectify any issues that arise as the Company
anticipates achieving steady state throughput of 400 tonnes
per day during Q1, 2011.
About
Golden Band
Golden Band Resources, already Saskatchewan's
leading gold explorer, is now its newest gold producer. Golden Band is a 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 km2, including twelve known gold deposits, four
former producing gold mines, and the licensed Jolu
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 Bingo, EP, Komis, and Golden Heart gold deposits, with
processing at the 100%-owned Jolu mill. Longer-term
objectives include production from the Company's other deposits and the
continuation of its highly successful exploration and acquisition strategy.
On
behalf of the Board of Directors of Golden
Band
Resources Inc.,
"Ronald
K. Netolitzky"
Ronald K. Netolitzky, Executive Chairman
All
of Golden Band's development-related programs and pertinent disclosure of a
development nature are prepared and/or designed and carried out under the
supervision of Gary Haywood,
P.Eng., Golden Band's VP of Operations and COO, who
serves as the qualified person (QP) under the definitions of National
Instrument 43-101.
Cautionary
Statements on Forward-Looking Information: The news release
includes certain "forward-looking information" within the meaning
of Canadian securities legislation and "forward-looking statements"
within the meaning of the United States
Private Securities Litigation Reform Act of 1995 (collectively "forward
looking statements")." All statements other than statements of
historical fact included in this release, including, without limitation,
statements regarding planned development, potential mineralization,
interpretation of prior exploration and potential exploration results, the
timing and success of potential financing, development and exploration
activities generally, the timing and results of future resource estimates,
and future plans and objectives of Golden
Band
are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Although the Company has attempted to
identify important factors that could cause actual actions, events or results
to differ from those described in forward-looking statements, there may be
other factors that cause such actions, events, or results to differ
materially from those anticipated. There can be no assurance that
forward-looking statements will prove to be accurate and accordingly readers
are cautioned not to place undue reliance on forward-looking statements.
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
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