A further folding knife which automatically locks upon being moved to the open position. The knife includes a blade having a tang with a ledge portion defined in an upper region of the tang for receipt of a sliding bolt. The bolt is provided for sliding movement within a channel defined in the handle, and the bolt is urged forwardly towards the tang of the blade by a bolt spring, such as a coil spring. A band is connected at one end to the bolt, and the other end of the band is connected to a spool, which is carried for rotation within the handle. The spool can be rotated with respect to the handle to cause a winding of the band thereon, which in turn causes retraction of the bolt, such that the blade can be pivoted out of a locked extended position, towards a retracted position.