GOLDEN BAND RESOURCES ACHIEVES TARGETED PRODUCTION RATE at JOLU MILL

Saskatoon, March 3, 2011 – Golden Band Resources Inc. (TSXV:GBN) is pleased to provide a progress updateon gold production and resource definition drilling for the Company’s 100%-owned La Ronge Gold project innorthern Saskatchewan.

Jolu Gold Mill OperationGolden Band achieved the planned mill throughput of 400 tonnes per day (tpd) at its Jolu gold mill in February,2011.

The increase in mill throughput in February has brought year-to-date gold doré production to 2,671 troy ounceswith a further 1,800 troy ounces anticipated over the next week of operation from current in-circuit gold inventory.This will draw the inventory down to normal operating levels. The Company expects to meet its annual goldproduction target of 45,000 ounces.

The high level of in-circuit gold inventory was the result of start-up issues that had caused delays in the extractionof gold in processing the 16,500 tonnes of ore from the Roy Lloyd mine in January and February. These issueshave now been largely resolved.

Ronald Netolitzky, Executive Chairman, reported "This is a significant achievement for Golden Band. With millthroughput reaching the targeted rate of 400 tonnes per day, we have taken a big step towards attaining ourtargeted annual gold production of approximately 45,000 ounces. With the price of gold at or near record levels, itis an exciting time for the Company. We can now focus our efforts and resources on developing the EP and Komisgold deposits, which will allow us to ramp up to a mill throughput rate of 700 tpd and annual production of 70,000ounces".

Roy Lloyd Mine OperationPre-production development and construction of surface and underground infrastructure is complete and theCompany has commenced production mining of the first stoping block of high grade ore on the 1340 level.

The Company has also commenced development of the decline to extend ramp access below the existing 1265level. This development will gain access at the 1200 level and enable an underground diamond drilling program tobe conducted later this year. This diamond drilling is planned to convert the current National Instrument 43-101Inferred resource of 155,074 tonnes at 13.89 grams/tonne gold to the National Instrument 43-101 Measured andIndicated resource category and allow production planning to a depth of 400 metres.

Resource Definition Drilling: Komis, Golden Heart, and Alimak Gold DepositsSurface drilling was completed at the Golden Heart gold deposit at the end of January with assay results pending.Drilling of the Alimak Zone at the historic Jolu underground gold mine has been completed, while drilling on thenearby Decade gold deposit was suspended to allow ice conditions at the Mallard tailings management facility toimprove. Drilling is scheduled to resume in March.

Golden Heart Project PermittingAs expected, the Company was notified on November 16, 2010 by the Saskatchewan Ministry of Environment(MoE) that the Company’s project proposal describing the operation of an open pit and underground minesubmitted in September 2010, will require Ministerial Approval pursuant to the provincial EnvironmentalAssessment Act. Confirmation was received from the Canadian Environmental Assessment Agency on January 6,2011 that the Canadian Environmental Assessment Act does not apply to the project.

Draft project specific guidelines were issued by MoE on January 15, 2011 for public review and comment. Theproject specific guidelines will be used by the Company to develop an environmental impact statement for theproposed project. Public information meetings were held in January and February in the following communities: La

proposed project. Public information meetings were held in January and February in the following communities: LaRonge, Brabant Lake, Southend, Missinipe, Grandmother’s Bay, Stanley Mission, and Sucker River.

Gary Haywood, Vice President, Operations and Chief Operating Officer, reports that "The environmentalassessment of the Golden Heart Mine is part of Golden Band’s plan for sustained gold production from the LaRonge Gold project. We are very pleased that the provincial environmental assessment process is proceeding in atimely manner that allows us to move ahead with our planning process. We expect to submit an environmentalimpact statement for this project in March of this year".

Corporate UpdateThe Company has added an additional $3 million over-allotment to its recently announced equity offering (seenews release dated February 18, 2011), bringing the size of the offering to $18 million. This additional $3 million inequity (both flow-through and non flow-through units) will be issued at previously announced terms on a privateplacement, non-brokered basis.

The Company reports that effective February 1, 2011, Rodney Orr was appointed Vice President of CorporateDevelopment. Responsibilities include: community and northern affairs; regulatory and corporate affairs;marketing, communications and investor relations; non-production exploration; land management; and strategicplanning.

About Golden BandGolden Band Resources, already Saskatchewan's leading gold explorer, is now its newest gold producer. GoldenBand is a Saskatchewan-based, publicly listed company (GBN: TSXV) whose focus is the long-term, systematicexploration and development of its 100%-owned La Ronge Gold Belt properties. Since 1994, Golden Band hasassembled through staking and strategic acquisition a land package of more than 750 km2, including twelve knowngold deposits, four former producing gold mines, and the licensed Jolu gold mill. Golden Band's key value driversare the methodical and systematic targeting of primary to advanced-stage exploration while progressing along aparallel path to becoming a sustainable gold producer. The Company is aggressively pursuing its near-term goal forthe development and production of its Bingo, EP, Komis, and Golden Heart gold deposits, with processing at the100%-owned Jolu mill. Longer-term objectives include production from the Company’s other deposits and thecontinuation 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

For further information please contact:

Gary Haywood, P.Eng., COOGolden Band Resources Inc.Phone: 306 955 0787 x7124Fax: 306 955 0788Email: gary.haywood@goldenbandresources.com

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

All of Golden Band's exploration programs and pertinent disclosure of a scientific nature are prepared and/ordesigned 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

under the definitions of National Instrument 43-101.All of Golden Band's development-related programs andpertinent disclosure of a development nature are prepared and/or designed and carried out under the supervisionof Gary Haywood, P.Eng., Golden Band's VP of Operations and COO, who serves as the qualified person (QP) underthe definitions of National Instrument 43-101.

Cautionary Statements on Forward-Looking Information: The news release includes certain “forward-lookinginformation within the meaning of Canadian securities legislation and "forward-looking statements" within themeaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward lookingstatements").” All statements other than statements of historical fact included in this release, including, withoutlimitation, statements regarding planned development, potential mineralization, interpretation of prior explorationand potential exploration results, the timing and success of potential financing, development and explorationactivities generally, the timing and results of future resource estimates, and future plans and objectives of GoldenBand are forward-looking statements that involve various risks and uncertainties. There can be no assurance thatsuch statements will prove to be accurate and actual results and future events could differ materially from thoseanticipated in such statements. Although the Company has attempted to identify important factors that could causeactual actions, events or results to differ from those described in forward-looking statements, there may be otherfactors that cause such actions, events, or results to differ materially from those anticipated. There can be noassurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not toplace undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.