Bonanza Goldfields Enlarges Tonopah, Nevada Footprint; to Acquire Mizpah Mines LLC

LAS VEGAS, June 4, 2018 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC PINK: BONZ) has entered into an agreement to acquire Mizpah Mines, LLC, which has an option to purchase the Sparrow patented mining claim at Tonopah, Nevada.  Also known as the Mizpah Extension Mine, the property contains substantial mine dumps from the Tonopah Belmont Mine, one of Tonopah's major past silver and gold producers.  Initial dump sampling at the Mizpah Extension Mine has indicated anomalous gold and silver values.

Tonopah is a well-known Nevada mining district discovered in 1900.  Second only to the Comstock Lode in Nevada historical silver production, Tonopah and nearby Goldfield were together responsible for restoring Nevada's mining industry in the early 20^th Century.  Total recorded production for the Tonopah District from 1900 to 1950 was 8,800,000 tons of ore, from which 1,861,000 ounces of gold and 174,153,000 ounces of silver were recovered with a total value of $147,564,015 (historical dollars, when gold was $20.67 or $35 per ounce). Tonopah is located midway between Las Vegas and Reno, Nevada and is conveniently accessed by US Highway 95 and US Highway 6.  Utilities are available.

The Mizpah Extension mine was last worked by the Tonopah Belmont company under lease.  The Tonopah Belmont Mine produced a recorded 2,019,068 tons of ore from 1906 to 1940, with a value of $38,362,293 (in historical dollars). 

In addition to the mineral potential believed to exist in the property's dumps, Bonanza Goldfields is looking to establish a permanent base of operations on its own private property at Tonopah in support of its nearby Thunder Mountain Gold project.  This could be similar to the Company's Tennessee Avenue facility at Chloride, Arizona and the Hull patented mining claim at Congress, Arizona.  The Company will be evaluating the Mizpah Extension property (as well as other available sites in Tonopah) from this perspective in coming months. 

About Bonanza Goldfields Corp.: BONZ is a Las Vegas?based mineral exploration and mining company.  We are exploring gold and silver properties located in the Comstock, Tonopah and Thunder Mountain Mining Districts of Nevada, and the Chloride, Oatman and Congress Mining Districts of Arizona.

Disclaimer - Forward Looking Statements: This press release contains "forward-looking statements" which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances and various other factors and risks.

Contact: 

Fred Bauman, General Counsel 
702-357-0555
Email:  [email protected]

SOURCE Bonanza Goldfields Corp.