Golden Band Resources : Reclassification to Tier 2 and Notice for Suspension From Trading more...

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Golden Band Reclassification to Tier 2 and Notice for Suspension From Trading

Saskatoon, Saskatchewan, April 20, 2016. Golden Band Resources Inc. ('Golden Band' or the 'Company') (TSXV: GBN) announces that further to its news release of April 15, 2016 announcing the filing of a Notice of Intention To Make a Proposal to its Creditors (the 'NOI') and the resignation of two of the Company's directors and the CFO, the TSX Venture Exchange (the 'Exchange') has issued a bulletin reclassifying the Company from Tier 1 to Tier 2 status. If the Company is unable to meet Tier 2 continued listing requirements, it may be transferred to NEX.

In addition, the Exchange has issued a 'remain halted' bulletin as the Company currently has less than three directors as required by Exchange policy. If the Company is unable to obtain the required number of directors by May 3, 2016, the Exchange will proceed to suspend the Company from trading. Given the Company's current circumstances, it is unlikely the Company will be able to attract the required number of directors and it is anticipated the Company will be suspended from trading on the Exchange on May 3, 2016.

About Golden Band
Golden Band Resources Inc. is a former gold producer operating in the La Ronge gold belt in northern Saskatchewan and is listed on the TSX Venture Exchange in Canada under the symbol GBN. Commercial production was declared on April 1, 2011. The Company has suspended mining operations (see news release of June 30, 2014) but has been actively exploring the La Ronge Gold Belt since 1994 and has assembled a land package of 870 km, including 13 known gold deposits and five former producing mines, being Jolu, Decade, Star Lake, EP and Komis (the La Ronge Project area). On April 15, 2016, the Company filed the NOI to assist its restructuring efforts.

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

'Paul Saxton'
Paul Saxton, CEO

For further information please contact:

Investor Relations: 604-682-6852
Email:[e-mail]
www.goldenbandresources.com

The Bowra Group, Trustee:

Kristin Gray: 780-809-1224
Email:[e-mail]

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 regarding the trading suspension, potential restructuring and financing 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 failure to obtain restructuring proposals acceptable to the Company, necessary regulatory or shareholder approvals, 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. The Company makes all reasonable efforts to update its corporate information on a timely basis.

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.

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