Bonaparte Resources Inc.
TSX VENTURE : BON

Bonaparte Resources Inc.

June 21, 2012 09:00 ET

Bonaparte Announces Appointment of Directors and Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Bonaparte Resources Inc. (TSX VENTURE:BON) is pleased to announce that Dr. Tom McCandless and Mr. Mike England, both of Vancouver BC, have joined the Board of Directors of the Company.

Dr. McCandless has more than 30 years of experience in the exploration industry, and was part of the Senior Management of Ashton Mining of Canada who discovered the Renard kimberlites in Quebec that are slated to become Quebec's first diamond mine. From 2008 to the present, Dr. McCandless has been a consultant to the industry through MCC Geoscience, Inc., for diamond and metals projects in North America, South America, Africa, and Scandinavia. Dr. McCandless also holds the position of Adjunct Professor at the University of Arizona and the University of Alberta, and has published extensively on the geochemistry of ore deposits. He currently sits on the board of numerous public mining exploration companies and is also a Qualified Person as defined by National Instrument 43-101.

Mr. England became involved in the public markets in the early 1980's, becoming licensed and working with firms such as Richardson Greenshields and RBC Dominion Securities. Since 1995, Mr. England has been involved with public companies and holds or has held various corporate directorships. In this capacity, he has been instrumental in numerous mineral and resource property acquisitions and financings and has raised in excess of $30 million to date for exploration and acquisitions.

"We are excited to have Dr. McCandless and Mr. England join our Board of Directors as their extensive experience and knowledge of mineral exploration will be a valuable asset to the Company," said Randy Saunders, Bonaparte's Chief Executive Officer.

The Company is also pleased to announce a non-brokered, private placement of common share units for estimated gross proceeds of up to $700,000. The offering is expected to close by July 31, 2012. The Company only plans to offer the units to residents in British Columbia, Alberta and Ontario and in such other jurisdictions where the units may be sold. The offering is subject to TSX Venture Exchange and other regulatory approvals.

The offering consists of common share units at $0.10 per unit (each unit consisting of one common share and one warrant, with each warrant entitling the holder thereof to purchase one common share at an exercise price of $0.15 for a period of 24 months). The units will be sold pursuant to various exemptions from the prospectus and registration requirements of applicable securities laws, and in Canada will be subject to a four-month hold period. Proceeds from the offering will be used for exploration on the Company's Hopper Property in the Yukon Territory and for general working capital.

Any finders' fees or commissions paid by the Company will be paid in accordance with the policies of the Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

Randy Saunders, CEO and Director

CAUTIONARY NOTE: FORWARD LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding closing a flow through financing are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Bonaparte are that investors may not invest because they don't view our new project as valuable, markets may change or for other reasons; we may also not close the private placement because of those risks described herein and from time to time, in the filings made by Bonaparte with Canadian securities regulators. Those filings can be found on the Internet at http://www.sedar.com.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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