Bonanza Goldfields Names Key Advisor

PHOENIX, July 18, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) ("Bonanza" or the "Company") is pleased to announce the appointment of William H. Tehan, III as Key Advisor to the Board of Directors.

William H. Tehan, III's investment career started in 1955 at the First National City Bank of New York where he was mentored in the business by then Federal Reserve Bank of New York Vice President of International Banking and Precious Metals, John Exter. Over subsequent years, Mr. Tehan worked as an oil and mines senior analyst for firms such as Hayden, Stone and Co., Dominick and Dominick, LLC, P.R.Herzig and Co., and Mahler & Emerson, Inc.  In 1970 Mr. Tehan authored the then controversial "US Dollar and World Monetary System: The Calm Before the Storm"  which in many circles earned him the title "The Father of Gold."  In the 1980's Mr. Tehan and his firm advised the McEwen family, whose projects eventually formed Goldcorp, Inc.  He has been a frequent lecturer at the Yale School of Business, Eliot Janeway Seminars, and the New York Society of Securities Analysts (NYSSA).  Mr. Tehan is currently a Director at the Committee for Monetary Research and Education (CMRE) along with friend and colleague, James Grant.  His most recent lecture at the CMRE was entitled "The Third and Terminal Phase of the Dollar Crisis."  Mr. Tehan will be a guest speaker at the GATA Gold Rush 2011 conference in London, Savoy Hotel on August 4-6, 2011, where he will present his latest paper, "The US Dollar in the Terminal Phase."  Mr. Tehan is a graduate of Amherst College (1954) and currently manages a resource and precious metals portfolio at TPK Advisors, LLC.

Commenting on the appointment, Bonanza Goldfield's CEO David Janney stated: "The addition of Bill Tehan to the Bonanza family is an honor, and we appreciate his confidence in our Colorado and Arizona properties.  His expertise and knowledge will be utilized by bringing leadership, focus and direction to the board."

Learn more about Bonanza Goldfields Corp:  www.bonanzagoldfields.com

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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- -

David Janney
President and CEO
Bonanza Goldfields Corporation
www.bonanzagoldfields.com

Contact:
Steven Ragan
VP of Corporate Communications
800-971-2669

SOURCE Bonanza Goldfields Corporation