Bonaparte Resources Inc.

Bonaparte Resources Inc.

July 26, 2011 16:27 ET

Bonaparte Announces Hooch Property Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2011) -


Bonaparte Resources Inc. (TSX VENTURE:BON) ("Bonaparte" or the "Company") is pleased to announce that it has entered into a mineral property option agreement dated July 26, 2011 with Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic"), whereby Bonaparte can acquire up to 100% interest in and to 12 contiguous mineral claims (the "Hooch Property") located in the Whitehorse Mining District, Yukon Territory, Canada.

The Hooch Property is 14 km east of the Aishihik Lake road, at a point 20 km north of its junction with the Alaska Highway and covers an area of approximately 243 hectares.

The Hooch Property covers the Moraine Showing, a copper, gold, silver, and tungsten skarn occurrence. The property has received intermittent exploration over the last 50 years. Geophysical surveys have produced anomalous results from known skarn horizons and identified other promising targets nearby.

Pursuant to the terms of the option agreement, Bonaparte may acquire up to 100% interest in the Hooch Property subject to a 2% NSR royalty, by making cash payments and incurring exploration expenditures in two steps as follows:

1. By paying Strategic an aggregate amount of $100,000 and incurring expenditures of not less than an aggregate of $200,000 by December 31, 2013 at which time Bonaparte will become a 50% joint venture owner in the Hooch Property.

2. By paying Strategic an aggregate amount of $875,000 and incurring expenditures of not less than an aggregate of $1,100,000 by December 31, 2015 at which time Bonaparte shall have acquired a 100% interest in the Hooch Property.

The Company has retained Archer, Cathro & Associates (1981) Limited of Vancouver, BC to carry out exploration work on the Hooch Property consisting of mapping, soil sampling and testing during August 2011.

"Randy Saunders"
Randy Saunders
CEO and Director

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; and (ii) general uncertainties with respect to mineral exploration in general. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

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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