Bonanza Goldfields Prepared to Start Production at Hull Lode and Tarantula Gold Claims

PHOENIX, May 31, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (Pink Sheets: BONZ) ("Bonanza" or the "Company"), an exploration and mining company headquartered in Phoenix, Arizona, completes final water reservoir preparations and ready for Gold placer production.

(Logo:  http://photos.prnewswire.com/prnh/20101209/LA15018LOGO)

60 Gallon a minute Dakota Washplant required construction of a two tier reservoir and silt filtration system and a deep water solar powered well, in heart of elevated basin desert mine.  Use of Bentonite clay sealant and a supplementary water was necessary to complete filling the reservoirs.  

"We have screened and stockpiled over a hundred tons of materials and now with water trucked in and our solar well keeping the reservoir levels topped off, are now ready to begin running the washplant this week." - stated David Janney, President of Bonanza Goldfields.

About Hull Lode and Tarantula Claim placer and hard rock projects please view:  http://www.bonanzagoldfields.com/tarantula

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To contact Investor Relations, please call 800-971-BONZ.

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 petroleum exploration and development stage 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-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD Bonanza Goldfields Corporation - -

www.bonanzagoldfields.com

SOURCE Bonanza Goldfields Corporation