Bonanza Goldfields Successfully Attains Equipment and Work Crews to Begin Gold Bulk Sampling Operations at Its Newly Acquired Hull Placer Load & Tarantula Claim Projects.

Bonanza Goldfields Corp. a gold exploration and mining company headquartered in Phoenix, Arizona announces the securing and delivery of equipment to begin bulk sampling operations at the Hull Placer Load and Tarantula Claim, in Congress, Arizona, adjacent to the world famous historic Congress Mine, Congress, Arizona.

Bonanza has completed the preparation of a flood-free work stage platform area and has attained an advantageous lease arrangement and delivery of a front loader, excavator, bulldozer, grizzly, and pairs of sluices, generators and pumps. A water source is established as well. For security, the company has begun designing and contracting for fiber optic cable 24 hour surveillance system installation as well as acquiring Mobil facilities for location security and management staff.

Bonanza Goldfields CEO, David Janney stated: “We are making fast progress towards our goal of making initially modest gold deliveries to a local refiner, where the final processing of the gold findings from our operations will be expertly handled and tallied.”

The company plans to enforce its option for the adjacent 6 claims, utilizing its proceeds from the Hull Placer Tarantula Placer Project operations in tandem with its developing investment resources. A Production based incentive pay structure will be negotiated this weekend with selected subcontracted work teams, scheduled to begin bulk sampling Monday of next week.

Bonanza is on track to be listed on the Dresden, Germany stock exchange and launch a German version of its website before the commencement of the second quarter of 2011.