Golden Band Resources Inc., Kitsaki Management Limited Partnership – Business Agreement Reached

by NationTalk on September 20, 20071862 Views

GBN: TSX Venture Exchange

SASKATOON and LA RONGE, SK, Sept. 19 – Golden Band Resources Inc. and the Kitsaki Procon Joint Venture are pleased to announce the signing of a General Services Agreement between their organizations. The intent of this agreement is that business opportunities from Golden Band’s advanced exploration, pre-development projects, and anticipated future production operations are available to members of the Lac La Ronge Indian Band. In addition, the broader document asserts the commitments that both organizations have to environmentally responsible mineral development. “Gold exploration and mining require proven resources. With this business relationship with the Kitsaki Procon Joint Venture, we have proven partners with proven human resources and expertise,” said Rodney Orr, President and CEO of Golden Band Resources. “Everyone shares in the goal of successfully re-establishing gold production in the La Ronge Gold Belt in a way that benefits all. We at Golden Band see this as a great opportunity – and one that marks our first step in the establishment of positive working relationships with all of our northern neighbours.”

“Many past resource developments have proceeded in our traditional lands without any benefits for our band members. Golden Band is showing us that they are committed to working with us and our businesses,” said Chief Tammy Cook-Searson, of the Lac La Ronge Indian Band and President of Kitsaki. “We want both a productive business relationship and a productive community relationship with Golden Band. We will work with Golden Band and the province at their community consultation meetings and in the negotiation of a participation agreement that will show First Nations and businesses across the country that resource developments can proceed on traditional lands in a timely, cooperative and profitable manner.”

Under the agreement signed today in La Ronge, Saskatchewan, the Kitsaki Procon Joint Venture will begin underground and surface mining and construction and the refurbishment of their licensed mill. Kitsaki has business interests that will also become involved in catering, transportation, provision of aggregate and environmental services.

About Golden Band

Golden Band Resources 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 ten known gold deposits, four former producing mines, and a licensed gold mill. The Company’s near-term goals call for development and production from the Bingo, Komis, and EP deposits with processing at the Company’s 100%-owned Jolu mill – a project that has received a positive Preliminary Economic Assessment (scoping study) on April 19, 2007. Longer-term objectives include production from the Company’s other deposits and the continuation of its highly successful exploration strategy.

About Kitsaki Management

Kitsaki Management Limited Partnership performs for-profit economic development for the Lac La Ronge Indian Band. In its 25-year history, Kitsaki has successfully created and manages a portfolio of active business investments such as Athabasca Catering, Canada North Environmental Services, and Northern Resource Trucking which serve the mining industry. Kitsaki has also invested in the La Ronge Motor Hotel and Suites, Northern Lights Foods, First Nations Insurance Services, Asiniy Gravel Crushing and the Dakota Dunes Golf Course.

About Procon Mining and Tunnelling Ltd.

Procon Mining and Tunnelling is a full-service mining contractor. They have extensive experience in mine development and operations, ranging from shrinkage stoping of narrow vein gold deposits to longhole mining of massive sulphides in a diversity of ground conditions. This has taken them from local work in the western provinces of Canada to colder climates (underground mining in the NWT, Yukon and Alaska) to international locations (development mining in Ireland and Greenland and training heavy equipment operators in Russia). Procon has also been involved in underground excavations for the civil industry such as hydro penstocks and irrigation aquaducts.

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All of Golden Band’s exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Frank Hrdy, P.Geo., Golden Band’s VP Exploration, who serves as the qualified person (QP) under the definitions of National Instrument 43-101. 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, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.

Cautionary Statements on Forward-Looking Information: The statements made in this News Release by Golden Band Resources Inc. may contain certain forward-looking information. Actual results may differ material y from those currently anticipated in such statements. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information: Rodney G. Orr, P.Geo., President & CEO, Golden Band Resources Inc., (306) 955-0787 extension 13, rodney.orr@goldenbandresources.com; Russell Roberts, CEO, Kitsaki Management LP, (306) 425-2288, russell.roberts@kitsaki.com; Ed Yurkowski, President, Procon Mining and Tunnelling, (604) 291-8292, eay@procongroup.net; Motivia Communications, Roger Francis, (306) 242-0694 or toll free 1-866-501-5651, info@goldenbandresources.com

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