Golden Band Resources Inc. Announces $9 Million Debt Financing

SASKATOON, Nov. 29, 2011 - Golden Band Resources Inc. (Golden Band or the Company) (TSX-V: GBN) is pleased to announce that Sprott Resource Lending Partnership has agreed to provide $9 million in senior secured financing to the Company. The funds will be used to advance development of the Komis and Golden Heart gold deposits and for general corporate purposes.

The senior financing, secured by a first ranking charge over certain assets of the Company, will consist of a bridge loan with an 18-month term and will be repaid in 12 monthly instalments of $750,000 commencing on July 31, 2012 continuing to June 30, 2013.

Interest is payable quarterly on each of March 31st, June 30th, September 30th and December 31st. The rate of interest is linked to the price of gold (Bloomberg Composite), on a sliding scale:

Gold Price 	Annual Rate of Interest
Below $999.99 	7.5%
From $1,000 to $1,249.99 	8.5%
From $1,250 to $1,499.99 	9.5%
From $1,500 to $1,749.99 	10.5%
From $1,750 to $1,999.99 	11.5%
From $2,000 to $2,249.99 	12.5%
From $2,250 to $2,499.99 	13.5%
Above $2,500 	14.5%

The Company will pay a structuring fee to the lenders equal to 2% of the principal amount on the date the term sheet is executed as well as a bonus equal to 5% of the principal amount, payable in cash on the closing date.

Closing of the financing is expected on or about December 31, 2011, subject to receipt of all necessary regulatory approval, including approval of the TSX Venture Exchange, and to the usual conditions.

Ron Netolitzky, Chairman of the Board for Golden Band, stated "This financing allows us to continue the development of the Komis and Golden Heart gold deposits as we work to achieve our near-term production objective of 70,000 gold ounces per year. "


About Golden Band

Golden Band Resources, already Saskatchewan's leading gold explorer, is now also its newest gold producer. Golden Band is a Saskatchewan-based, publicly listed company (TSX-V: GBN) 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 875 km2, including 12 known gold deposits, four former producing mines, and a licensed 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 of being a sustainable gold producer. The Company is aggressively pursuing its near-term goal of commercial production of its Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill. The Company's objective is the annual production of at least 75,000 ounces of gold over a ten-year project life. Other longer-term objectives include the continuation of its highly successful exploration and acquisition strategies.


On behalf of the Board of Directors of Golden Band Resources Inc.,

"Ronald K. Netolitzky"
Ronald K. Netolitzky, Chairman



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 Charlie Harper, P.Geo., 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 and COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.


Caution Regarding Forward-Looking Information and Statements

This document includes statements and information about the Company's expectations for the future. When Golden Band's strategy, plans, and future financial and operating performance, or other things that have not yet taken place, are discussed, the Company is making statements considered to be forward-looking information or forward-looking statements under Canadian and United States securities laws. Such forward-looking information and statements in this document are referred to as "forward-looking information".

Generally, forward-looking information can be identified by the use of forward-looking terminology such as, for example, "plans", "expects" or "does not expect", "is expected", "budget", "goal", "target", "project", "potential", "strategy", "outlook", "scheduled", "predicts", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", and similar expressions, or the negative connotation thereof or variations of such words and phrases or statements that certain actions, events or results, "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Readers are cautioned that the forward-looking information in this document represents Golden Band's current views and can change significantly. Forward-looking information contained in this document is based on certain material assumptions, including, but not limited to:

- geological and other conditions that may affect exploration, development, and the amenability for mining;
- the Company's ability to comply with current and future environmental, safety and other regulatory requirements, and to obtain and maintain required regulatory approvals; and,
- the Company's operations not being significantly disrupted as a result of political instability, nationalization, terrorism, sabotage, blockades, breakdown, natural disasters, governmental or political actions, litigation or arbitration proceedings, or other development or operating risks.

Readers are cautioned that such assumptions are not exhaustive and may prove to be incorrect. Although the Company believes that the assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking statements because Golden Band can give no assurance that they will prove to be correct.

Actual results and events may be significantly different from those currently expected due to a number of material risks. These include, but are not limited to:

- the Company's inability to enforce its legal rights, or its being subject to litigation or arbitration that has an adverse effect on the Company;
- defects in title to the Company's properties;
- unexpected or challenging geological, hydrological, or mining conditions;
- environmental, safety and regulatory risks, including increased regulatory burdens or delays;
- the Company's inability to obtain or maintain necessary permits or approvals from government authorities or other third parties;
- changes to government regulations or policies, including, but not limited to, tax and trade laws and policies;
- natural phenomena, including, but not limited to, inclement weather, fire, and flooding; and,
- operational disruption of the Company due to problems and other developments and operating risks.

In addition, Golden Band's annual and interim MD&A, which are available on SEDAR at www.sedar.com, include a discussion of other material risks that could cause actual results to differ significantly from the Company's current expectations.

Forward-looking information is designed to help the reader understand management's current views of the Company's near and longer-term prospects, and it may not be appropriate for other purposes. The forward-looking information contained in this document is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The forward-looking information is expressly qualified by these cautionary 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.



For further information:

Mark J. Thiel, CA, VP Finance and CFO
Golden Band Resources Inc.
Phone: 306 385 7128
Fax: 306 955 0788
Email: mark.thiel@goldenbandresources.com

Investor Relations:
Raju Wani: 403 240 0555
Tony Perri: 604 682 6852
Email: info@goldenbandresources.com
www.goldenbandresources.com