SOURCE: Bonanza Goldfields Corporation

July 27, 2011 11:37 ET

Bonanza Goldfields Names Advisory Board Member

PHOENIX, AZ--(Marketwire - Jul 27, 2011) - Bonanza Goldfields Corp. (PINKSHEETS: 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."

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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.


David Janney
President and CEO
Bonanza Goldfields Corporation

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