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Bonanza Goldfields Corp. Announces Discovery of High Grade Gold in Quartz Veins

PHOENIX, AZ -- (Marketwire - April 04, 2013)

Bonanza Goldfields Corporation (Pink Sheets: BONZ) announced today that three hand-collected samples from an 1,800 foot strike of an exposed quartz vein within the Bonanza patents were assayed at 0.08 ounce per ton (oz/ton), 0.192 oz/ton, and 0.62 oz/ton. A single sample collected from a second quartz vein on Bonanza's leased, patented property assayed at 2.73 oz/ton. A fifth sample collected from a pit on a separate leased Bonanza patented property assayed at 0.007 oz/ton. All assays were performed by Copper State Analytical Lab in Prescott, Arizona, an independent registered assayer.

"The results from the five initial phase lode assay tests on the patented property are encouraging," said Mr. Stojsavljevich, President and CEO of Bonanza Goldfields Corp.

The Company's geochemist has identified an 1,800 foot exposure of the larger vein which has a similar strike, dip, and mineralization as the veins in productive mines in the region. The Company will seek to utilize current funding sources to acquire additional equipment and employees needed to recover gold from the veins. The management team also intends to take steps to complete a comprehensive geological mapping, geochemical sampling, and drilling program to evaluate the reserve base and attempt to identify additional gold anomalies on the property.

Based on this new data and a rigorous internal analysis of the relative efficiencies of continuing placer exploration and recovery compared to mining the quartz veins, the Company has temporarily suspended bulk placer exploration. The Company has engaged a third party vendor to continue to collect placer samples on the site.

Lode Assay Results:

0313-158992BG 0012.730.45
0313-158993BG 0030.620.36
0313-158994BG 0040.080.06
0313-158995BG 0050.0070.03

opt = ounces per ton
Procedure: Fire assay with an ICP finish

Bonanza Goldfields Provides Tarantula Production Update

PHOENIX, AZ -- December 10, 2012 -- Bonanza Goldfields Corp. (Pink Sheets: BONZ) today provided a progress update on the first phase of production operations at its flagship Tarantula Project.

As reported in October, funding was secured and equipment was rapidly mobilized to initiate the first phase of production which is underway.

In November, Bonanza's management team made a strategic equipment change and modification to the initial agreement with Goldfields International. The initial agreement called for an Alaskan 25 trommel gold recovery plant. Due to the nature of the fine gold specimens being recovered, management opted for a Yukon 25 screen classification recovery system which has the same capacity as the Alaska 25 and is better suited for the placer material on Tarantula. Linking the Yukon 25 to a Goldfield Intl proprietary finishing table system has proven to be far superior in recovering the various grain sizes of gold found on the property. Bonanza believes it is the first to deploy this advanced state of the art finishing table system.

With the Yukon 25 in place, Bonanza's management team analyzed all aspects of recovery, efficiency and cost savings. Critical enhancements were implemented allowing material to move through the plant more effectively while lessening the chance of down time and clogging of the integrated system. Although it took time away from initial production, Bonanza believes strongly that all enhancements were necessary and in the best interests of shareholders.

"At this time, we are pleased with the successful execution of running our integrated plant system and continue to pursue strategic enhancements to maximize our production and yield," said Michael Stojsavljevich, President and Chief Executive Officer of Bonanza Goldfields Corp.