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Under the terms of an April 9, 2010 agreement, Virginia has acquired 7,500,000 common shares in Golden Band Resources Inc. TSX.V: GBN) and $750,000 cash, in exchange for an 8% carried equity interest in certain gold deposits that form part of Golden Band's La Ronge Gold Project. La Ronge is a high-grade, near-term producer. About Golden Band Resources 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 (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 875 km2, including 12 known gold deposits, four former producing mines, and a licensed gold mill. Golden Band began gold production in the 1st quarter of 2011. The Company is aggressively pursuing its development of both high-grade open pit and underground mines at the Roy Lloyd (Bingo) mine, development of a high-grade open pit mine at EP, and development of its high-grade underground mine at Komis. Processing is through its 100% owned Jolu mill at an initial throughout of 400 tpd, with plans to expand that throughput to 700 tpd in later in 2011. A positive Pre-Fesibility Study was received for this project on January 16, 2009 (filed on SEDAR), and Golden Band received Provincial Environmental Assessment approval in May 2009. Longer-term objectives include production from the Company's other deposits and the continuation of its highly successful exploration and acquisition strategy, and sustaining a long-term production life using its owned gold deposits. Golden Band website | | | |||||||||||||||||||||||
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