Golden Band Resources Greywacke Jv Project Exploration Update

SASKATOON, Nov. 14, 2012 /CNW/ - Golden Band Resources Inc. (GBN: TSXV; OTCQX: GBRIF) is pleased to provide an update on the recently completed summer and fall exploration activities carried out on the Greywacke joint venture property, and on the planned winter activities.

The joint venture, held 50:50 with Masuparia Gold Corporation (Operator), has been the focus of renewed exploration this summer and fall, in part for the planned extraction and milling of a bulk sample from the Greywacke North Zone deposit. Over the winter and subject to permitting, a bulk sample will be extracted for processing at the Company's Jolu mill. The bulk sample will provide a larger scale metallurgical sample for testing and, with related work, will facilitate completion of permitting of the Greywacke North deposit for full production. Greywacke is 53 kilometres from the Jolu Mill.

This year's exploration activities have also been directed towards updating of the existing mineral resource estimate in the Greywacke North deposit, previously reported by Masuparia to be an Indicated Resource of 184,000 tonnes grading 8.40 grams per tonne gold (49,700 troy ounces) plus an Inferred Resource of 58,000 tonnes grading 7.29 grams per tonne (13,600 troy ounces) at a cut-off of 5 grams per tonne (see Masuparia news release of April 7, 2008). This resource estimate was completed before the most-recent drilling program in 2008 and has not been updated. The deposit remains open at depth and along strike. It is expected that with further drilling there is good potential to increase the dimensions of the extent of known mineralization as well as to ensure that the resource better reflects the total potential.

Golden Band is encouraged by the results of the summer program as they highlight the fact that the property warrants intensive exploration on the known deposits as well as exploration of the remainder of this large property. When a decision is made to advance the property to the development stage, Golden Band will become the Operator.

About Golden Band
Golden Band Resources is a gold producer operating in the La Ronge gold belt in northern Saskatchewan and publicly listed on the TSX Venture exchange in Canada under the symbol GBN and is traded in the United States on the OTCQX under the symbol GBRIF. Commercial production was declared on April 1, 2011 and the Company has production from two mines, Roy Lloyd and Komis. Processing is at the centrally located Jolu mill, with a nominal capacity of 650 tonnes per day. The Company has been actively exploring the La Ronge Gold Belt since 1994 and has assembled a land package of 870 km², including 13 known gold deposits and four former producing mines, being Jolu, Decade, Star Lake and Komis. The Company plans to undertake aggressive drill programs throughout the La Ronge Gold Project with the goal of significantly expanding the existing NI 43-101 gold resources that have been identified to date.

On behalf of the Board of Directors of Golden Band Resources Inc.,
"Robson Garden"
A. Robson Garden, President and CEO

Caution Regarding Forward-Looking Information and Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the mine properties, estimates of production, costs of production, the sufficiency and availability of capital and financing and other future plans, objectives or expectations of Golden Band Resources Inc. (Company) 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. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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.

SOURCE Golden Band Resources Inc.