Bonanza Goldfields receives final approval from Bureau of Land Management

Jan 06, 2010, 09:10 ET from Bonanza Goldfields Corp

PHOENIX, Jan. 6 /PRNewswire-FirstCall/ - Bonanza Goldfields Corp (BONZ:OTCBB) announced today that it has received final approval from U.S. Bureau of Land Management (BLM) to start work on its BRB Claim which is currently comprised of two unpatented placer claims (320 acres) on BLM ground in the southern part of the Vulture Mining District, Maricopa County Arizona on the northeastern flank of the Belmont Mountains.

Gold Explorations LLC will manage this work with the trenching focusing to cover the six gold soil anomalies discovered by soil sample results obtain from approximately 400 soil samples taken previously.

Gold Explorations LLC has completed the surveying for trench sites on the eastern portion of the (BRB) Black Rock Basin Project in western Maricopa County, Arizona. These trench sites or horizontal drill holes are designed to locate gold, silver and base metal mineralization at bedrock. Only a portion of the known anomalies are covered in this first phase. The west half of the property is not affected by this first phase and may be explored later by conventional reverse circulation drilling techniques and short trenches.

A Notice of Intent has been filed and accepted with the Phoenix BLM Office and we expect to commence the backhoe trenching in late January. We are very optimistic about this first phase of work due to the quality of the anomalies and the record high gold prices, holding at around $1,100 per ounce" said Steve Karolyi of Gold Explorations LLC

About Bonanza Goldfields Corp.

Bonanza Goldfields Corp. engages in the acquisition, exploration and development of natural resource properties in the United States, primarily in the State of Arizona. The Company owns the mining rights to two unpatented placer claims in the Black Rock Basin (BRB), located on 320 acres of BLM ground in the southern part of the Vulture Mining District, Maricopa County Arizona on the northeastern flank of the Belmont Mountains. Over the past two years, Bonanza has taken over 400 soil and rock chip samples from the BRB claims. Prior samples indicate gold up to 0.10 oz per ton, silver up to 7 oz per ton, lead over 20% and zinc over 30% per ton with some copper. For more information on Bonanza Goldfields Corp., please visit www.bonanzagoldfields.com

Certain statements contained in this news release that are not based on historical facts are "forward- looking statements" and are prospective. These statements may appear in a number of different places in this news release and can be identified by words such as "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words. Forward-looking statements include statements regarding the outlook for Bonanza's future operations, plans and statements about future market conditions, supply and demand conditions, forecasts of future costs and expenditures, and other expectations, intentions and plans that are not historical fact. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Bonanza. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance those actual results or developments anticipated will be realized.

Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in Bonanza Goldfields Corp. reports that will be on file with the US Securities and Exchange Commission.

SOURCE Bonanza Goldfields Corp