SOURCE: Bonanza Goldfields Corp.
PHOENIX, AZ--(Marketwire - Jun 26, 2012) - Bonanza Goldfields Corp. (PINKSHEETS: BONZ) ("Bonanza" or the "Company") is pleased to announce the Board of Directors has elected Mr. Baoky Vu as Chairman of the Board of Directors. This leadership appointment is effective immediately.
"Baoky Vu has proven himself as a talented executive and proactive leader. Bonanza welcomes Mr. Vu and looks forward to his role in structuring Bonanza for success," said Bonanza Goldfields' President and Chief Executive Officer, Michael Stojsavljevich.
Baoky Vu is a principal of Silverberry Capital LLC, a strategic advisory firm based in Atlanta. Prior to Silverberry, he served as director of equity research, portfolio manager, and chair of the Investment Committee at A. Montag and Associates. Mr. Vu serves on the board of directors at Georgia's largest nonprofit provider of healthcare at home, Visiting Nurses Health System. For the recently-ended Georgia General Assembly session, he served as Health Care Policy Advisor to State Representative B. J. Pak (R). During the Bush Administration, he served on the Presidential Advisory Commission on Asian-Americans and Pacific Islanders. He has appeared as a political guest commentator on CNN, and has been cited in publications such as USA Today, Bloomberg News, and The Washington Times.
About Bonanza: Bonanza Goldfields' Tarantula Project is a contiguous block of 38 lode claims covering 600 acres in the Date Creek Mountains, Arizona. The lode claims are directly adjacent to the historic Congress Mine, Arizona. The Congress Mine produced 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.
Learn more about Bonanza Goldfields: http://www.bonanzagoldfields.com
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
President and CEO