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Bonanza Goldfield’s New Mining Road Allows Successful Transport of Wash-Plant and Water Drilling Equipment to Elevated Hull Lode Mine Site

May 6, 2011

PHOENIX, May 6, 2011 /PRNewswire/ — Bonanza Goldfields Corp. (OTCBB: BONZ) (BONZ.PK) (“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 Claim 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.

The road has a treacherous and steep (approximately 4,000 foot) incline followed by a steep descent into the basin mine site area. In its past gold mining history, Bonanza’s Hull Lode and Tarantula claims 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.

About Hull Lode and Tarantula Placer Project Please view:

http://www.bonanzagoldfields.com/tarantula

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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 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 factors 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.

ON BEHALF OF THE BOARD Bonanza Goldfields Corporation – -

David Janney
President and CEO

www.bonanzagoldfields.com

SOURCE Bonanza Goldfields Corp.


Source: newswire



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