"Bonanza is developing both its advanced stage 100% owned Copperstone gold property in Arizona, and is aggressively drilling several other projects with successful results, with the goal of achieving production by 2009."
" It is intended that the Company have "Mockingbird" restored as an operating and producing gold mine in 2008. The previous exploration work on this property has proven that these further exploration plans will yield significant results very rapidly; which will lead to production of gold on this property. "Mockingbird" is an historic gold producer and Management and their consulting Geologists are in possession of a huge amount of data in respect of this property.
The Company is not expecting to raise any cash to fund the development of "Mockingbird" and does not expect to issue any additional shares as a placing for cash. It is intended to utilize bank borrowing facilities, which are being negotiated at this time.
The Chairman of the Company's Advisory Committee, Professor Wayne P Colliston, is continuing with his re-assessment of the "Mockingbird" property. Professor Colliston is preparing an updated report on this property at this time and upon its completion, this report will be made available to our stockholders."
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