Golden Band set to update Birch Crossing estimate (June 23, 2008)

VANCOUVER — Stepping-out and digging deeper, this winter Golden Band Resources (GBN-V, GBRIF-O) punched 11 more holes into the ground at Birch Crossing, one of 10 properties it owns as part of a 750- sq.-km La Ronge gold belt land package in northern Saskatchewan.

The new holes not only returned significant gold-mineralized intervals but better defined the extension and depth of the mineralization, which had previously been divided into four zones north to south: Alder, Red Cube North 2, Red Cube North, and Red Cube South.

In the Alder zone, Golden Band sunk two holes and outlined a new, shallow mineralized area. Hole 98 cut 6.5 metres of 23.34 grams gold per tonne starting 12 metres down-hole. Since 50 cm of massive sulphides within interfingered diorite and andesite divided the interval, the company named this new area the Sulphide zone.

Farther south in the North 2 zone, hole 96 intersected 2.3 metres grading 20.49 grams gold from a depth of 48 metres, and hole 88 met 6 metres grading 7.07 grams gold from 148.5 metres that included a 1-metre section of 29.01 grams gold.

Hole 96 then passed through the North zone, cutting 2.9 metres grading 16.22 grams gold. Similarly, hole 88 intersected 4.5 metres of North zone mineralization grading 17.2 grams gold from 65.5 metres down-hole (all grades calculated with fire assaying).

With the new results, the company hopes to upgrade Birch Crossing’s inferred resources. As it now stands, the property holds 536,000 inferred tonnes grading 5.11 grams gold.

Golden Band also released numbers from five holes drilled on its Kaslo property, only 700 metres west of Birch Crossing.

Hole 65 hit 2.4 metres grading 10.1 grams gold from 82 metres depth. Holes 64 and 66 returned 1.1 metres of 5.8 grams gold from 33 metres and 1 metre grading 4.8 grams gold from 40 metres, respectively.

The push to upgrade Birch Crossing’s resource estimate is part of Golden Band’s long-term strategy in the La Ronge gold belt, where a February scoping study supported mining the higher-grade portions of the company’s Bingo and Komis deposits by open pit.

News of the Birch Crossing and Kaslo winter drill programs lifted Golden Band 5 to close at 38. The company has a 52-week trading range of 25.5-56 and has 121.6 million shares issued.