GBN: TSX Venture Exchange

    SASKATOON, Nov. 17 /CNW/ - Golden Band Resources Inc. (GBN: TSXV) reports
that it has signed a Memorandum of Understanding (MoU) with the Bureau of
Geology and Mineral Exploration of Anhui Province, Peoples Republic of China
(Anhui Geology). Contemplated under the MoU are exploration-stage gold
projects that Anhui Geology may elect to participate in under business
relationships that would be determined in subsequent discussions. Anhui
Geology is setting up a company to be based in Saskatoon and has undertaken
the conclusion of possible further agreements with Golden Band in March 2009.
    Rodney Orr, Golden Band's President and CEO, who signed the MoU on behalf
of the Company, stated: "This MoU demonstrates a clear recognition of Golden
Band's exploration opportunities and the very positive environment in
Saskatchewan for mineral resource development. I welcome the opportunity to
discuss this further with Anhui Geology and look forward to considering a more
comprehensive exploration-stage agreement. The long-term strategic focus that
Golden Band has had in the La Ronge Gold Belt since 1994 affords us many
opportunities to advance both our exploration and our development objectives.
Partnerships with groups such as Anhui Geology are welcome ways to be
seriously considered in order to best advance our projects."
    The signing by Golden Band Resources and Anhui Geology took place in
Beijing on November 13, 2008 while Golden Band was attending meetings that
included its participation as part of the Saskatchewan and Canadian
delegations to the China Mining 2008 conference. Mr. Hou Qi Biao, Deputy
General Manager, represented Anhui Geology at the signing. Anhui Geology had
identified Golden Band as its first potential partner in Saskatchewan and had
previously met with Golden Band in Saskatoon in December 2007 and March 2008
after being introduced by Saskatchewan Energy and Resources officials.

    About Golden Band

    Golden Band Resources, already Saskatchewan's leading gold explorer, is
now poised to also become a gold producer. Golden Band 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 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
to becoming a sustainable gold producer. The Company is aggressively pursuing
its near-term goal for the development and production of its 100%-owned Bingo,
Komis, and EP deposits with processing at the 100%-owned Jolu mill - a project
that received a positive expanded Preliminary Economic Assessment (scoping
study) on February 26, 2008 (filed on SEDAR on April 10, 2008). Longer-term
objectives include production from the Company's other deposits and the
continuation of its highly successful exploration and acquisition strategy.

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

    "Rodney G. Orr"
    Rodney G. Orr, P.Geo.,
    President and CEO
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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 and COO,
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 may contain certain forward-looking information. Actual
results may differ materially from those currently anticipated in such
statements. Certain risk factors may also materially affect the actual results
achieved by the Company. Potential and current shareholders are cautioned not
to place undue reliance on forward-looking information. The Company undertakes
no obligation to update publicly or otherwise revise any forward-looking
information whether as a result of new information, future events, or other
such factors that may affect this information, except as required by law.

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    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
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    %SEDAR: 00007862E