Bonanza Goldfields Corporation Announces New Management and Growth Plans

PHOENIX, Dec. 9, 2010 /PRNewswire-FirstCall/ -- Bonanza Goldfields Corporation (OTC Bulletin Board: BONZ) In the course of the last several months, new management has been elected and has started redirecting the company's business development plans to target exploration and production opportunities. Bonanza is planning on focusing on gold and mineral projects in North and South America to add additional value to the company's existing portfolio.

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"In the last 60 days we have selected several properties that we are currently negotiating to acquire or potentially develop joint venture relationships as we begin our expansion efforts," stated Bonanza Goldfields CEO, David Janney.

Mr. Janney assumed corporate managerial responsibilities in late October, 2010, and started assembling additional industry professionals to join management and create relationships with other mining companies that have undervalued assets since his involvement. Janney recently stated: "I strive to surround myself with the most seasoned and energetic people I can find and am very excited about the caliber of individuals that are joining this team. Bonanza is building a strong management group rapidly making moves to grow this company organically through drilling, expanding and proving value in 2011."

About Bonanza Goldfields Corporation

Bonanza Goldfields Corporation is primarily engaged in the acquisition and development of mining explorations with focus on gold and other viable opportunities throughout the United States and South America. Our mission is to create shareholder value by achieving growth through bird dogging and discovery of properties of merit and proving up their value; finding low-cost production opportunities; development and commercialization.

SOURCE Bonanza Goldfields Corporation