PHOENIX, AZ December 15th, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) is pleased to announce Dr. Madan M. Singh, former Director of the Arizona Department of Mines and Mineral Resources, has joined the Bonanza Advisory Board.
Dr. Madan M. Singh served as Director of the Department of Mines and Mineral Resources for the State of Arizona from August 2005 through January 2011. He served under Governor Napolitano (now Secretary of US Department of Homeland Security) and Governor Jan Brewer. Singh has a Ph.D. in mining engineering and is a registered Professional Engineer in Arizona. His research areas of expertise encompass aspects of mining, geotechnical engineering, tunneling, subsidence, environmental studies, and other related fields. He has testified before Congressional Committees and served on Legislative Committees to update Arizona's mining regulations.
Prior to joining the Department of Mines and Mineral Resources, Singh had over 30 years experience operating a consulting engineering firm. He was on the mining faculty of Penn State, and was a pioneer in the field of mine subsidence engineering in the United Sates developing a new graduate level program devoted solely to subsidence. Singh has performed several projects for the US Bureau of Mines, Office of Surface Reclamation and Enforcement, US Nuclear Regulatory Commission, and the US Department of Energy. He has worked on various aspects of mine operations and planning, ventilation, safety, and transfer of NASA technology.
Singh has authored 129 technical papers in addition to serving as chapter author on mine subsidence in the SME Mining Engineering Handbook and Mining Environmental Handbook. Singh has been involved with a variety of professional organizations, including National Director of the American Consulting Engineers Council, President of the Consulting Engineers Council of Illinois, member of the Board of Directors of the Society for Mining, Metallurgy, and Exploration, Inc. (SME), Chair of the SME Coal Division, and Chair of the American Society for Testing and Materials subcommittee on rock strength.
In 1996 Singh was named a Centennial Fellow by the College of Earth and Mineral Sciences at Penn State. He was honored with the Robert Stefanko Distinguished Achievement Award by the Department of Energy and Geoenvironmental Engineering in 1999. He won the Howard N. Eavenson Award from the SME in 2000, was selected as their Distinguished Member in 2004, and was installed in the SME Legion of Honor in 2005. He has been selected to receive the 2011 SME Rock Mechanics Award. Since 2010, he has served on the Structure and Governance Committee of the SME, and is Vice-Chair of the Research Committee. In May 2011 he was chosen by the SME Maricopa Section as the Local Section Hero.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications (928) 251-4044
PHOENIX, AZ December 12th, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) is pleased to announce the completion of the Tarantula Project Preliminary Geological Report, prepared by Auric Resources International, Inc. of Wickenburg, Arizona. Shareholders can download the report at Bonanza Goldfields' official website: www.bonanzagoldfields.com
Highlights from the report include:
The large land package with widespread areas of anomalous gold values; proximity to the Congress Mine; large iron oxide rich quartz veins which exhibit mineralogic and structural similarities to the Congress, Niagra, Queen of the Hills, Golden Wave and other mineralized, economic vein systems in the area; and the presence of placer gold in widespread gravels indicates that the Tarantula Property may host a large, potentially economic gold deposit and undoubtedly represents an excellent exploration target with potential for both placer and lode gold production from auriferous placers and veins.
Although some preliminary testing has been done on portions of the property, the majority of the land package has virgin placer gravels and large quartz veins that have never been explored or tested.
The geologic setting of the property is favorable for the concentration of placer gold in the local gravels that occur in drainage channels and elevated benches and for lode gold that occurs within the early Proterozoic granitic rocks as auriferous quartz fissure veins with locally abundant sulfides and iron oxides.
Auriferous quartz and quartz-sulfide veins occur on the Tarantula Property and many exhibit the same characteristics as those in the Congress Mine and other mines in the area. These veins ranged up to several feet in width and have strike lengths ranging from hundreds to thousands of feet, with unknown depths.
Staking crews discovered numerous large quartz veins up to 4 feet wide and hundreds of feet long on the unpatented claims. These veins also have many of the same characteristics of the past producing veins in the district, and have yet to be explored.
Small-scale production can probably be achieved quite rapidly, while the expanded exploration phase is being conducted. This production will help offset the required exploration costs and will provide valuable information for designing a larger processing facility as warranted by exploration results.
Preliminary rock chip geochemical channel sampling of some quartz veins located on the patented claims held by Bonanza returned gold values which exceeded the 3,000 ppb detection limit.
About: Bonanza Goldfields' Tarantula Project is a contiguous block of 38 lode claims covering 600 acres of pre-1955, patented, private property claims and BLM claims in the Date Creek Mountains, Arizona. The lode claims are directly adjacent to the historic Congress Mine, Arizona. The Congress Mine operated between 1887 and 1959, producing about 400,000 ounces of lode gold. Highly prospective features are ubiquitous throughout the immediate area, including extensive greenstone dikes and quartz veins as well as placer gravel deposits. Many of the newly discovered Tarantula quartz veins are similar in character to the productive veins of the nearby Congress Mine and the other historically productive mines in the area. Bonanza's management strategy is to process feasible placer ore, while proving out hard rock structures. Modern access for heavy equipment is already in place via Bonanza's privately constructed roads, and rail is localized. A Preliminary Geological Report of the claims and the immediate region is completed. (No assurances can be provided that the prior production of lode gold will correspond or predict future production of lode gold.)
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications (928) 251-4044
PHOENIX, AZ December 1st, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) announced today the expansion of their flagship Tarantula Project with the acquisition of the Piedmont Mine, a gold and silver mine in operation until 1940. The Piedmont Mine has been deemed by the Bonanza geological team a highly prospective addition to the Tarantula Project. The acquisition expands the Tarantula Project to 38 lode mining claims covering over 600 acres of contiguous property directly adjacent to the historic Congress Mine which produced over 400,000 ounces of lode gold between 1887 and 1959.
Bonanza Goldfields' President Scott G. Geisler stated, "Our geological team continues to identify and acquire prime gold properties expanding Tarantula's footprint to world class levels. We believe the continued acquisition and expansion of Tarantula claims in close proximity to the Congress Mine will prove out to be historic in nature."
"The Preliminary Geological Report continues to expand with Bonanza's new acquisitions, and will soon be made available to our shareholders via Bonanza's website," stated Geisler. "Furthermore, Bonanza's year end and first quarter financial statements will be forthcoming, completing the restructuring of the company and regaining our fully-reporting status."
Geisler continued, "Earlier this month, Bonanza signed a letter of engagement with Global Mining Capital Development Ltd. to be our exclusive financial advisor in greater China. The $10 million funding target level discussed would represent an equity deal priced far north of Bonanza's current valuations. We believe the current market capitalization does not represent the fair value of Bonanza's 600-acre contiguous land package bordering the historic Congress Mine. We are committed to bringing favorable funding and value to our shareholders."
About the Piedmont Mine: In 1940, the owner of the Piedmont Mine was Stansbury. The mine produced gold, silver, and copper from an east-west to northeast trending vein which cuts massive, unfoliated Precambrian granite, and usually follows andesite and other mafic dikes which dip shallowly to the north. The vein was apparently accessed by an adit and also an exploration pit (USGS, 2011).
About Bonanza's flagship project: The Tarantula Project is a contiguous block of over 600 acres of pre-1955, patented, private property claims and BLM claims in the Arizona Date Creek Mountains, containing both alluvial and mineralized quartz deposits. Bonanza's management strategy is to process feasible placer ore, while proving out hard rock structures. A Preliminary Geological Report of the claims and the immediate region is now being completed. Modern access for heavy equipment is already in place via Bonanza's privately constructed roads, and rail is localized. The claims are directly adjacent to the world famous historic Congress Mine, Arizona. The Congress Mine operated between 1887 and 1959 producing about 400,000 ounces of lode gold. Unique features appear ubiquitous throughout the immediate area, including greenstone dike extensions, deep placer gravel deposits, and vestiges of numerous pre-historic waterfalls. Additionally, lode gold possibilities exist due to the extensions of schist and mineralized quartz veins in the immediate area of the Congress Mine. (No assurances can be provided that the prior production of lode gold will correspond or predict future production of lode gold.)
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications (928) 251-4044
PHOENIX, AZ November 29th, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) hereby engages Global Mining Capital Development Ltd. on an exclusive basis in China (including Hong Kong, Macau, and Taiwan areas) for the term of this Agreement, and the Global hereby agrees to advise, consult with, and assist Bonanza in various matters including, but not limited to (i) a review of the Company's business, operations and financial condition, including advising on capitalization structures, introduction of a strategic partner in China and capital raising; (ii) acting as placement agent for a private placement of approximately $10 million more or less with proceeds to be used primarily for mining, exploration, and general corporate purposes.
About Bonanza Goldfields flagship project: The Tarantula Project is a contiguous block of over 500 acres of pre-1955, patented, private property claims and BLM claims in the Arizona Date Creek Mountains, containing both alluvial and mineralized quartz deposits. Bonanza's management strategy is to process feasible placer ore, while proving out hard rock structures. A Preliminary Geological Report of the claims and the immediate region is now being completed. Modern access for heavy equipment is already in place via Bonanza's privately constructed roads, and rail is localized. The claims are directly adjacent to the world famous historic Congress Mine, Arizona. The Congress Mine operated between 1887 and 1959 producing about 400,000 ounces of lode gold. Unique features appear ubiquitous throughout the immediate area, including greenstone dike extensions, deep placer gravel deposits, and vestiges of numerous pre-historic waterfalls. Additionally, lode gold possibilities exist due to the extensions of schist and mineralized quartz veins in the immediate area of the Congress Mine.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications (928) 251-4044
PHOENIX, AZ October 27, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") is pleased to announce the appointment of Mr. Peng-Mun (PM) Foo to the position of Interim Chief Financial Officer effective immediately. He has been a member of the Bonanza advisory board since July 2011.
"PM has an outstanding record with growth stage companies at key inflection points, and we are pleased with his expanded role," said President and CEO Scott G. Geisler. "His strong executive financial skills will add value at multiple levels of our corporate infrastructure, and will assist Bonanza to pursue significant opportunities in the precious metals space."
PM Foo has over 17 years experience investing in and building businesses in Asia. PM holds a Singapore Fund Management Representative's license, and is a licensed Private Equity Fund Manager. He currently serves as a Director (Asia Pacific) with International Alliance Associates LLC, a cross border strategic advisory entity. PM was also a Deputy General Manager of London Asia Capital Plc, an Asia focused merchant banking and private equity fund management group. Prior to that, PM was Chief Operating Officer of Legg Mason Asset Management (Asia). He has worked for Deutsche Bank, as well as several venture capital entities. PM has been CFO for several PRC companies, instilling international investor confidence by minimizing expectation gaps between Western and Chinese parties in cross border transactions involving Chinese companies preparing for international acquisitions, fundraising, and IPOs. He is a prominent panelist on PRC financial television, and frequent speaker at universities and conferences on private equity & fund management. He is a Fellow Certified Public Accountant (FCPA), as well as having achieved the CFA Institutes' Chartered Financial Analyst (CFA) Level 2 program. PM has trekked the Altiplano, the Patagonia Ice Field (an expedition of 40 days) and has led 10-15 men teams on multiple expeditions to the Tibetan Mountains and Everest Base Camp. PM regularly attends financial conferences throughout the world, and will be at the China Mining 2011 exposition, November 6-8.
About Bonanza Goldfields flagship project: The Tarantula Project is a contiguous block of over 500 acres of pre-1955, patented, private property claims and BLM claims in the Arizona Date Creek Mountains, containing both alluvial and mineralized quartz deposits. Bonanza's management strategy is to process feasible placer ore, while proving out hard rock structures. A Preliminary Geological Report of the claims and the immediate region is now being completed. Modern access for heavy equipment is already in place via Bonanza's privately constructed roads, and rail is localized. The claims are directly adjacent to the world famous historic Congress Mine, Arizona. The Congress Mine operated between 1887 and 1959 producing about 400,000 ounces of lode gold. Unique features appear ubiquitous throughout the immediate area, including greenstone dike extensions, deep placer gravel deposits, and vestiges of numerous pre-historic waterfalls. Additionally, lode gold possibilities exist due to the extensions of schist and mineralized quartz veins in the immediate area of the Congress Mine.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications 720-446-6087
PHOENIX, AZ October 20, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") announced today the results of the company's most recent 18 assays submitted. Of 18 assay results, 9 tested positive for gold. Bonanza had two assays exceeding the 3000ppb high cutoff threshold. Under traditional laboratory parameters, the fire assay rock chip sample test is considered anomalous with any sample exceeding a cutoff low of 50ppb.
Bonanza Goldfields' President Scott G. Geisler stated, "These globally recognized assays prove the existence of high grade gold on Tarantula. The Bonanza geological team is a group of professionals with exacting standards, and the Preliminary Geological Report being finalized is the foundation of our larger NI 43-101 equivalent geological study. We look forward to our geological teams' additional findings."
About Bonanza's Tarantula Project: Bonanza Goldfields' Tarantula Project is a contiguous block of over 500 acres of pre-1955, patented, private property claims and BLM claims in the Date Creek Mountains, containing both alluvial and mineralized quartz deposits. A Preliminary Geological Report of the claims and the immediate region is now being completed. The geological team has already conducted bulk sampling, and is further exploring the outlying sections of the property. Prior to commencing the survey, extensive samplings were analyzed locally at multiple depths demonstrating the potential for high grade gold findings throughout the property. The current samples are being analyzed at globally recognized assayers. Modern access for heavy equipment is already in place via Bonanza's privately constructed roads, and rail is localized. The claims are directly adjacent to the world famous historic Congress Mine, Arizona. The Congress Mine operated between 1887 and 1959 producing about 400,000 ounces of lode gold. Unique features appear ubiquitous throughout the immediate area, including greenstone dike extensions, deep placer gravel deposits, and vestiges of numerous pre-historic waterfalls. Additionally, lode gold possibilities exist due to the extensions of schist and mineralized quartz veins in the immediate area of the Congress Mine. Bonanza believes the alluvial deposits originate from two ancient rivers that flowed in opposing directions during separate geological periods.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications 720-446-6087
PHOENIX, AZ October 5, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") announces today the acquisition of 28 Lode Claims expanding the Tarantula Project to over 500 acres of contiguous property directly adjacent to the historic Congress Mine which operated from 1887 to 1959, producing over 400,000 ounces of lode gold.
The Bonanza geological team, as part of the completion of the Preliminary Geological Report, received assay results from the outlying regions of the Tarantula Project. This area was determined by the team to be under-studied and under-analyzed from all historical perspectives. The existence of quartz float, sulfide oxidation anomalies, outcrops of greenstone, and unusually large visible mineralized quartz veins leads management to believe the same quality quartz vein structure at the Congress Mine is ubiquitous throughout the existing and new claims expansion of the Tarantula Project. Bonanza's strategy is to utilize alluvial material for near-term placer production while simultaneously proving out the Tarantula property in its entirety with RC drilling techniques and continued assay analysis leading towards a NI 43-101 US equivalency geological report.
Commenting on the Bonanza Goldfields' historic development, President Scott G. Geisler stated, "Although the final aspects of the Preliminary Geological Report are being completed, management has enough information to move ahead with alluvial placer production plans. Equipment and personnel are being mobilized and nominal levels of production are expected to proceed in the current quarter. Furthermore, based on cursory exploration of the new claims package, targets are already being identified for a drill program commissioning to prove out additional placer material and mineralized quartz veins."
Geisler continued, "Expanding our footprint at Tarantula is very advantageous for shareholders, and securing these claims brings substantial new value to the company. Achieving our expansion goals insures the life of the project as we move forward. Early on, we proved to ourselves the viability of the project through local assay and analysis. With exceptional visible mineralized quartz present on Tarantula's claims and our close proximity to the historic Congress mine site, we feel Bonanza now has a world class land package that will prove to be as historic in nature as the Congress Mine."
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications 720-446-6087
PHOENIX, September 28, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") is pleased to announce the return of 53,127,506 shares to the corporate treasury.
On April 8, 2011 the Company entered into a promissory note and escrowed 53,127,506 common shares to fulfill the convertible feature. Bonanza has satisfied this promissory note, negated convertibility, and the transfer agent has returned the shares to the treasury. The shares being returned to the treasury represent 15.5% of the shares outstanding. The current shares outstanding after this adjustment are 291,132,916.
Bonanza Goldfields' President, Scott G. Geisler, stated "Bonanza's commitment to share reduction and increasing shareholder value continues as a key executive goal. Furthermore, the recapitalization of the company continues on much more favorable terms. With private financing in place, Bonanza is moving on all executive goals, to include increasing our personnel presence at Tarantula, increasing our property footprint, procuring additional production equipment, and building upon our geological study."
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Steven Ragan
VP of Corporate Communications 720-446-6087
PHOENIX, September 23, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") is pleased to announce the retirement of 3 million Series A Preferred Shares.
On June 14, 2011, the Company issued 3 million shares of Series A Preferred Stock to David Janney, CEO and Director. Each share of Series A Preferred Stock represents 100 votes, or 300 million votes total. Subsequently, on July 6, Mr. Janney assigned 1.5 million of his Series A Preferred Stock to the board of directors of the Company in the form of an Assignment Agreement.
By written consent to action, the Board of Directors unanimously agreed to return the 3 million Series A Preferred shares to the Treasury.
Bonanza Goldfield's President, Scott G. Geisler, stated "Management recognizes and is taking all steps necessary for creating a pure play capital structure in the precious metals space. As we complete our reorganization, we are committed to increasing shareholder value and giving the voting power to the common shareholders. By retiring these super voting shares, we are demonstrating our commitment to accelerating the restructuring of Bonanza Goldfields' value."
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD--
David Janney
CEO
Contact:
Steven Ragan
VP of Corporate Communications
720-446-6087
PHOENIX, AZ--(Marketwire -08/29/11)- Bonanza Goldfields Corp. (Pinksheets: BONZ.PK - News) ("Bonanza" or the "Company") today announced 20,000,000 shares of common stock is being returned to the treasury. These shares represent 5.7% of the shares outstanding.
Mr. David Janney has agreed to return 20 million common shares to the treasury in return for an aggregate payment of $80,000 (payable in $5000 equal increments over 16 months). The agreement has been executed and the transfer agent has been informed.
Bonanza’s President, Scott Geisler stated, “As a primary executive goal, Bonanza is targeting share reduction. We have identified an additional 53,000,000 shares being held in an escrow account at the transfer agent. We will explore all avenues and work tirelessly to reduce shares outstanding and maximize shareholder value.”
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD--
David Janney
Chief Executive Officer
Bonanza Goldfields Corporation
www.bonanzagoldfields.com
Contact:
Steven Ragan
VP of Corporate Communications
720-446-6087
PHOENIX, AZ--(Marketwire -08/29/11)- Bonanza Goldfields Corp. (Pinksheets: BONZ.PK - News) ("Bonanza" or the "Company") today announced David Janney has decided to step down as President effective immediately, citing personal reasons. Mr. Janney will step down from his CEO position once Bonanza's year end statements and filings with the Securities and Exchange Commission are complete. He will remain as a member of the Board of Directors of the Company.
In a statement to the board, Janney said, "Although I would very much like to continue leading our outstanding team, due to recent changes I have made the decision to step down to spend more time with my family."
Scott G. Geisler will take over as President. A consummate entrepreneur, Geisler has over 20 years experience in finance, closing over $100 million in property transactions, and has built effective deal origination teams. Geisler is a Bonanza Goldfields early private investor. He is currently President of International Gold Mining Reserve Corporation, a private venture owning 1000 acres in the historic Shoshone Mining District, which was in operation until 1957 by Anaconda Copper Mining Company with reported production of 3,300,000 oz/Ag, 52,800 oz/Au, as well as significant copper, lead, and zinc.
Commenting on his appointment, Geisler said, "David Janney has assembled outstanding assets and personnel. The region in which Bonanza is operating has historical proven results, and I look forward to bringing in the resources necessary to see Mr. Janney's vision come to fruition."
Learn more about Bonanza Goldfields Corp: www.bonanzagoldfields.com
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Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD--
David Janney
Chief Executive Officer
Bonanza Goldfields Corporation
www.bonanzagoldfields.com
Contact:
Steven Ragan
VP of Corporate Communications
720-446-6087
PHOENIX, July 27, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") is pleased to announce the appointment of Mr. Peng-Mun (PM) Foo to the Advisory Board.
Mr. PM Foo has over 17 years experience investing in and building businesses in Asia. PM holds a Singapore Fund Management Representative's license, and is a licensed Private Equity Fund Manager. He has served as Director, Asia Pacific with International Alliance Associates LLC, a cross border strategic advisory entity. PM was also a Deputy General Manager of London Asia Capital Plc, an Asia focused merchant banking and private equity fund management group. Prior to that, PM was Chief Operating Officer of Legg Mason Asset Management (Asia). He has worked for Deutsche Bank, as well as several venture capital entities. PM has been CFO for several PRC companies, instilling international investor confidence by minimizing expectation gaps between Western and Chinese parties in cross border transactions involving Chinese companies preparing for international acquisitions, fund raising, and IPOs. He is a prominent panelist on PRC financial television, and frequent speaker at universities and conferences on private equity & fund management. He is a Fellow Certified Public Accountant (FCPA), as well as having achieved the CFA Institutes' Chartered Financial Analyst (CFA) Level 2 program. PM has trekked the Altiplano, the Patagonia Ice Field (an expedition of 40 days) and has led 10-15 men teams on multiple expeditions to the Tibetan Mountains and Everest Base Camp.
Commenting on the appointment, Bonanza Goldfield's CEO David Janney stated: "Mr. Foo brings to the Bonanza table world class capital formation and advisory skills. Having keen understanding of the gold story, we are delighted he has chosen Bonanza to work with. As a highly driven individual, we look forward to his assistance in our future."
Learn more about Bonanza Goldfields Corp: www.bonanzagoldfields.com
Sign up for Direct News from the Company: http://www.bonanzagoldfields.com/email.html
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD--
David Janney
Chief Executive Officer
Bonanza Goldfields Corporation
www.bonanzagoldfields.com
Contact:
Steven Ragan
VP of Corporate Communications
720-446-6087
PHOENIX, July 18, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") is pleased to announce the appointment of William H. Tehan, III as Key Advisor to the Board of Directors.
William H. Tehan, III's investment career started in 1955 at the First National City Bank of New York where he was mentored in the business by then Federal Reserve Bank of New York Vice President of International Banking and Precious Metals, John Exter. Over subsequent years, Mr. Tehan worked as an oil and mines senior analyst for firms such as Hayden, Stone and Co., Dominick and Dominick, LLC, P.R.Herzig and Co., and Mahler & Emerson, Inc. In 1970 Mr. Tehan authored the then controversial "US Dollar and World Monetary System: The Calm Before the Storm" which in many circles earned him the title "The Father of Gold." In the 1980's Mr. Tehan and his firm advised the McEwen family, whose projects eventually formed Goldcorp, Inc. He has been a frequent lecturer at the Yale School of Business, Eliot Janeway Seminars, and the New York Society of Securities Analysts (NYSSA). Mr. Tehan is currently a Director at the Committee for Monetary Research and Education (CMRE) along with friend and colleague, James Grant. His most recent lecture at the CMRE was entitled "The Third and Terminal Phase of the Dollar Crisis." Mr. Tehan will be a private speaker at the GATA Gold Rush 2011 conference in London, Savoy Hotel on August 4-6, 2011, where he will present his latest paper, "The US Dollar in the Terminal Phase" to current and prospective clients. Mr. Tehan has been interviewed twice by The Economist, is a graduate of Amherst College (1954) and currently manages a resource and precious metals portfolio at TPK Advisors, LLC.
Commenting on the appointment, Bonanza Goldfield's CEO David Janney stated: "The addition of Bill Tehan to the Bonanza family is an honor, and we appreciate his confidence in our Colorado and Arizona properties. His expertise and knowledge will be utilized by bringing leadership, focus and direction to the board."
Learn more about Bonanza Goldfields Corp: www.bonanzagoldfields.com
Sign up for Direct News from the Company: http://www.bonanzagoldfields.com/email.html
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD- -
David Janney
Chief Executive Officer
Bonanza Goldfields Corporation
www.bonanzagoldfields.com
Contact:
Steven Ragan
VP of Corporate Communications
720-446-6087
PHOENIX, June 28, 2011 -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") is pleased to announce the appointment of William C. Berridge to the Board of Directors. Mr. Berridge was also named the Project Manager for Bonanza's Tarantula (Hull Lode) placer claims project.
William C. Berridge, P.G., is the Founder, President/CEO, and Chairman of Auric Resources International, Inc. Mr. Berridge is a Qualified Person (QP) for preparing NI 43-101 technical reports written under CSA & CIM Standards & Guidelines. He is registered as a Professional Geologist in Wyoming and has over 35 years of exploration & development experience. He is also a member of the Geological Society of America (GSA), the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), the Geological Society of Nevada (GSN), the Arizona Geological Society (AGS), the Society of Mineral Analysts (SMA) and a Founding Registered Member of the Society for Mining, Metallurgy and Exploration (SME). Mr. Berridge has a long-term commitment to the Wickenburg/ Congress/Weaver Mountain Mining District geographic area.
Commenting on the development, Bonanza Goldfield's CEO David Janney stated: "Fully engaging Bill Berridge with his experience and credentials is truly a significant development for Bonanza. His impact and discoveries have been enormous, and with the completion of his technical work, I have full confidence in Bill to bring the Tarantula (Hull Lode) Project to its full potential.."
About Bonanza Goldfield's Tarantula Project: Tarantula's neighboring Congress mine between 1887 and 1959 produced 400,000 ounces of lode gold. With extensive placer production, hard rock drilling and field research on the Tarantula adjacent property, Bonanza's management, working in tandem with the leadership of Bill Berridge, plans to develop its long-term economic production plan regarding the veins on the property believed to be the same veins that put the Congress Mine on the map.
Learn more about Bonanza Goldfields Corp: www.bonanzagoldfields.com
Sign up for Direct News from the Company: http://www.bonanzagoldfields.com/email.html
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD- -
David Janney
Chief Executive Officer
Bonanza Goldfields Corporation
www.bonanzagoldfields.com
Contact:
Steven Ragan
VP of Corporate Communications
720-446-6087
DENVER, June 13, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company"), an exploration and mining company based in Phoenix, Arizona, and Osiris Gold Corporation (Osiris), an established Denver, Colorado holding company of gold claims in the historically resource rich Red Mountain district - aggregating patented mining claims, have entered into a definitive joint venture agreement forming Red Mountain Gold LLC. The joint venture owns 43 claims with 332,000 ounces of proven gold reserves and is currently negotiating to purchase additional mining claims in the area of interest.
"Bonanza Goldfields is pleased to announce this joint venture," commented David Janney, Bonanza's CEO and President. "Bonanza has negotiations with institutional lenders willing to fund commercial production in exchange for payment in kind from our future yields of rare minerals. Based on this structure, it results in a positive impact on our capital structure as share issuance, dilution, and debt will not be a necessity for gaining the Red Mountain asset."
Mr. Janney further added: "The initial phase of the Red Mountain project is to continue a core drilling program to prove up additional reserves which have been indicated by past drilling. After fully funded, the planned summer drill program is expected to add substantially to the existing reserve. With local support, we can bring to the region high paying, high-tech, long term jobs, while keeping the area pristine. We will put to work state of the art, environmentally responsible practices and technology. As believers in the principals of having zero long term impact on the environment at Red Mountain, we hope to serve as an international example for eco-safe mining."
A Behree Dolbear executive summary report (published in 1994) stated: "The Red Mountain Property lies at an elevation of 10,500 to 13,500 feet in an area noted for gold production dating back to 1860. The property consists of patented mining claims. Mineralization occurs in oxidized zones of intense silica alteration and is open at depth. Based on old workings below the silica cap, high grade, sulfide bonanza type deposits could exist at depth, however, this potential has not been tested.
A geological resource of 16.6 million tons of mineralized material grading 0.024 oz/t of gold, and 0.711 oz/t of silver is calculated to exist on the property. A mineable reserve of 12.3 million tons grading 0.027 oz/t of gold, and 0.790 oz/t of silver exists based on open pit designs and production schedules prepared by Wright Engineering in 1986 (The geological technical work was updated in 2006 by SRK Consulting). The reserves meet U.S. Security and Exchange Commission criteria for proven (measured) and probable (indicated) categories."
In the Red Mountain Gold LLC joint venture structure there is a 49% earn in equity potential for Bonanza Goldfields in exchange for bearing the costs of bringing the project into commercial production.
ON BEHALF OF THE BOARD
Bonanza Goldfields, Inc.
- - - - - - - - - - - - -
David Janney
Chief Executive Officer
BonanzaGoldfields.com
contact@bonanzagoldfields.com
720-446-6087
PHOENIX, May 9, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company"), an exploration and mining company headquartered in Phoenix, Arizona, today received its first refining statement from NTR Metals from gold attained from its bulk sampling sluice yields at its Hull Lode and Tarantula Projects group.
The gold finds material submitted to NTR on average had a high metal purity content of 95.45% Au or a karat equivalent of 22.908. Management is extremely pleased with these high karat gold yields as they further prove the economic potential.
Bonanza complied with the AML requirements and successfully established its NTR Metals refining account. The company will soon explore its own bar minting options and try to negotiate the best rates it can with the refiner as production is increased.
ON BEHALF OF THE BOARD
Bonanza Goldfields, Inc.
- - - - - - - - - - - - -
David Janney
Chief Executive Officer
BonanzaGoldfields.com
contact@bonanzagoldfields.com
720-446-6087
PHOENIX, Arizona, May 6th, 2011 (PR Newswire) - Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company"), an exploration and mining company headquartered in Phoenix, Arizona, successfully puts new mining road to the test.
Never before has heavy commercial mining equipment been transported into the Hull Lode and Tarantula Project group area. This mission critical road has made it possible to successfully transport, over recent days, both a state of the art wash-plant and deep water drilling equipment.
Not unlike the path to the motherload site depicted in the 1960’s movie Mackenna’s Gold, the road has a trecherous and steep, several thousand foot incline followed by a steep decent into the basin mine site area. In its past gold mining history, Bonanza’s Hull Lode and Tarantula Projects were barely penetrated by old time miners on mules with pick axes toting their own water supply.
Between one million to 600 thousand is the estimated cost Bonanza would have had to pay to have the nearly four mile network of dirt roads built to and throughout the claim group. Thanks to the economics of the now faded zero-landscape granite boulder boom, fueled by the unprecedented Phoenix real-estate surge, the costs of the road were absorbed by the prior owner. It now serves to the benefit of Bonanza’s gold mining project here, making this month’s installation of a properly hydrated state of the art wash-plant a reality.
ON BEHALF OF THE BOARD
Bonanza Goldfields, Inc.
- - - - - - - - - - - - -
David Janney
Chief Executive Officer
BonanzaGoldfields.com
contact@bonanzagoldfields.com
720-446-6087
PHOENIX, May 4, 2011 /PRNewswire/ — Bonanza Goldfields Corp. (OTC:BONZ) ("Bonanza" or the "Company"), an exploration and mining company headquartered in Phoenix, Arizona, engaged Auric Resources International, Inc. (ARI) to complete research and a technical report regarding its Tarantula Placer & Hull Lode mining claims, adjacent to the world famous and historic Congress Mine, Congress, Arizona, USA. ARI is an Arizona based gold exploration, development and mining company that is also licensed with the Arizona State Board of Technical Registration to provide Geological Services to clients in Arizona.
William C. Berridge, P.G., is the Founder, President/CEO, and Chairman of Auric Resources International, Inc. which owns and is currently developing the historic, patented, Johnson Mine which is located at the head of Weaver Creek, on Rich Hill, approximately 10 miles east of Congress, Arizona. Mr. Berridge is a Qualified Person (QP) for preparing NI 43-101 technical reports written under CSA & CIM Standards & Guidelines. He is registered as a Professional Geologist in Wyoming and has over 35 years of exploration & development experience. He is also a member of the Geological Society of America (GSA), the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), the Geological Society of Nevada (GSN), the Arizona Geological Society (AGS), the Society of Mineral Analysts (SMA) and a Founding Registered Member of the Society for Mining, Metallurgy and Exploration (SME). Mr. Berridge has also agreed to have further discussion regarding a possible role on the Board of Directors of Bonanza's Goldfields, which like Auric Resources International, Inc., has a long-term commitment to the Wickenburg/ Congress/Weaver Mountain District geographic area.
Bonanza Goldfield's CEO, David Janney stated: "Bill has one of the most complete databases of minerals, mining equipment and human grey matter, in the world – we are extremely fortunate to have him local and couldn't feel luckier. We expect his knowledge and guidance will play a role tantamount in getting Bonanza to the next level"
The neighboring Congress mine between 1887 and 1959 produced around 400,000 ounces of load gold. With extensive placer production, hard rock drilling and field research scheduled for this summer, on our adjacent property, Bonanza's management working in tandem with Auric Resources plans to develop its long-term economic production plan regarding the several veins on the property believed these to be the same veins that put the Congress Mine on the map.
ON BEHALF OF THE BOARD
Bonanza Goldfields, Inc.
- - - - - - - - - - - - -
David Janney
Chief Executive Officer
BonanzaGoldfields.com
contact@bonanzagoldfields.com
720-446-6087
PHOENIX, March 7, 2011 /PRNewswire/ -- It has been an exciting year at the Hull Lode / Tarantula Project Group located in Yavapai County, Arizona, once part of the historic Congress Gold Mine. With last summer's discovery of a Bonanza grade Gold deposit, the former Granite Boulder property has moved quickly from "Raw Prospect," to near-term producer. Since this year's purchase by Bonanza Goldfields Corporation (Pink Sheets:BONZ.pk - News), the Mine site has become very active with an aggressive bulk sampling program, exploration and testing. It is expected by Bonanza's management that the bulk sampling program will rapidly evolve into full scale production.
With hardrock assays as high as six ounces per ton and Placer values of one gram per yard across the entire Claim group, the Tarantula Project Group is on track to rival the nearby Congress Gold Mine.
Ongoing exploration and testing along the eastern boundary of the Hull Lode Claim has led to the discovery of additional sources of mineralization as well as confirming Placer values of one gram per yard across the Pediment / Basin area.
Additional Placer mineralization occurs as erosion of a granite porphory has intruded a greenstone dike on faulted bedrock in the Pediment area. Any concerns over possible chlorination of Placer values have been resolved with the discovery of naturally occurring precipitants.
With discovery of additional mineralization around intruded greenstone dikes and granite porphories, the future looks bright as the build-out of the Placer recovery facilities kicks into high gear. Increasing water supply and the purchase of a newly constructed custom washplant are among the improvements under way.
An aggressive bulk sampling program continues at the Hull Lode Claim. This, coupled with an ongoing exploration and testing program makes for a dynamic Mine site.
Placer sampling across the Hull in a diagonal pattern, confirms Placer values from 3700 feet in the southeast corner to within 1 foot of bedrock in the northwest corner. Bulk sampling in these two areas confirm the Bonanza grade label, as Placer Gold has been recovered across the Claim.
Recent discoveries from the past ten days include Bedrock, a truckee formation, Garnets, gem grade Blue Quartz.
ON BEHALF OF THE BOARD
Bonanza Goldfields, Inc.
- - - - - - - - - - - - -
David Janney
Chief Executive Officer
BonanzaGoldfields.com
contact@bonanzagoldfields.com
720-446-6087
PHOENIX, Feb. 16, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company"), an exploration and mining company headquartered in Phoenix, Arizona announces the successful financing and purchase of the Hull Placer Lode and Tarantula Projects, adjacent to the world famous, historic Congress Mine, Congress, Arizona.
Purchase includes the option to purchase six additional adjacent and promising contiguous claims.
Bonanza Goldfield's CEO, David Janney stated: "We have successfully established financing from a German investment group. Furthermore, we are fortunate to have a mutually beneficial turn-key arrangement with the mine's prior owners in which we have access to their pre-existing heavy equipment and seasoned operators. This is a cost savings to the company and expedites our goal to begin gold bulk sampling operations."
The acquisition of the Hull Placer Lode and Tarantula Projects provides a centralized base of operations and economies of scale to Bonanza, which also owns the nearby BRB and Midas Claims - collectively comprising of 670 acres. The property and its access to water, rail and roads, make this acquisition a strategically important advancement for Bonanza Goldfields - adding depth to its growing portfolio of Arizona gold mining properties of merit.
ON BEHALF OF THE BOARD
Bonanza Goldfields, Inc.
- - - - - - - - - - - - -
David Janney
Chief Executive Officer
BonanzaGoldfields.com
contact@bonanzagoldfields.com
720-446-6087
PHOENIX, Arizona, Feb. 3rd, 2011 (PR Newswire) - Bonanza Goldfields Corp. (OTC:BONZ) ("Bonanza" or the "Company"), has entered into a precious metals refining contract with NTR Metals, LLC.
Bonanza Goldfields is negotiating contracts with local production teams to do extensive bulk sampling which is expected to generate revenues immediately for the Company. A leading geologist from the Phoenix area has been hired by Bonanza to build out a detailed development plan.
Management is pleased with the high rate of progress and the dynamic nature of the Tarantula Project which will put Bonanza into first stage of production before the end of first quarter.
ON BEHALF OF THE BOARD
Bonanza Goldfields, Inc.
- - - - - - - - - - - - -
David Janney
Chief Executive Officer
BonanzaGoldfields.com
contact@bonanzagoldfields.com
720-446-6087
Bonanza Goldfields Corp. (OTC:BONZ) ("Bonanza" or the "Company"), an exploration and mining company headquartered in Phoenix, Arizona announces the signing of an acquisition contract for the Hull Placer Lode and Tarantula Projects, adjacent to the world famous and historic Congress Mine, Congress, Arizona, USA.
Bonanza Goldfields has entered into a definitive agreement to purchase the The Hull Placer Lode and the Tarantula Projects - pre-1955, patented, private property claims - as well as options on six other promising contiguous claims. Prior to this agreement, extensive scrapings and trench samplings were taken and analyzed from multiple depths, the results demonstrated bonanza grade gold findings throughout the property.
Bonanza Goldfield’s CEO, David Janney stated: “our field exploration team has found significant free milling placer gold in this basin and point out that the multiple shapes, ranging depths, and varied types of gold prevalent prove that numerous geological sources for the gold exist. We believe that the placer deposits originate from two ancient rivers that flowed in opposing directions during separate geological periods. Lode gold possibilities exist due to Congress Mine type greenstone dikes, schists, and mineralized quartz veins.
The adjacent Congress mine between 1887 and 1959 produced around 400,000 ounces of Lode gold, with the greenstone dike extension into our claim another unique feature of this deal that makes it very promising. Other features include deep placer gravel deposits and vestiges of numerous pre-historic waterfalls. This a potentially extraordinary addition to Bonanza’s growing Arizona claim portfolio. Bonanza’s placer crews will begin to bulk sample and further explore outlying sections of the 320 acre property. Permits are are already in place, and after the closing the production efforts will immediately begin.
Based on extensive prior sampling, a minimum of 1.00 gram of gold per cubic yard will be yielded, though concentrations as high as six ounces per ton have been found on the outlying hard rock package of claims in the deal. This acquisition provides a centralized base of operations with economies of scale benefiting Bonanza’s nearby BRB and Midas Claims development. We believe that access to nearby rail, water and newly made roads make this purchase a real winner for us, adding cash flow while keeping costs under control as we manage our rapidly developing properties of merit in Arizona and beyond.
DENVER, June 13, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company"), an exploration and mining company based in Phoenix, Arizona, and Osiris Gold Corporation (Osiris), an established Denver, Colorado holding company of gold claims in the historically resource rich Red Mountain district - aggregating patented mining claims, have entered into a definitive joint venture agreement forming Red Mountain Gold LLC. The joint venture owns 43 claims with 332,000 ounces of proven gold reserves and is currently negotiating to purchase additional mining claims in the area of interest.