PHOENIX , Feb. 18, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (Pink Sheets: BONZ) ("Bonanza" or the "Company"), a gold exploration and mining company headquartered in Phoenix, Arizona announces the securing and delivery of equipment to begin bulk sampling operations at the Hull Placer Load and Tarantula Claim, in Congress, Arizona, adjacent to the world famous historic Congress Mine, Congress, Arizona.
Bonanza has completed the preparation of a flood-free work stage platform area and has attained an advantageous lease arrangement and delivery of a front loader, excavator, bulldozer, grizzly, and pairs of sluices, generators and pumps. A water source is established as well. For security, the company has begun designing and contracting for fiber optic cable 24 hour surveillance system installation as well as acquiring Mobil facilities for location security and management staff.
Bonanza Goldfields CEO, David Janney stated: "We are making fast progress towards our goal of making initially modest gold deliveries to a local refiner, where the final processing of the gold findings from our operations will be expertly handled and tallied."
The company plans to enforce its option for the adjacent 6 claims, utilizing its proceeds from the Hull Placer Tarantula Placer Project operations in tandem with its developing investment resources. A Production based incentive pay structure will be negotiated this weekend with selected subcontracted work teams, scheduled to begin bulk sampling Monday of next week.
Bonanza is on track to be listed on the Dresden, Germany stock exchange and launch a German version of its website before the commencement of the second quarter of 2011.
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 petroleum exploration and development stage 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 factor disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Bonanza Goldfields Corporation