Bonanza Mining Corporation Announces that it has entered into an agreement to purchase a 100% interest in additional mineral claims adjacent to its MC Property located in the Golden Triangle
423 East 10th Street North Vancouver, B.C.
V7L 2E5
Trading Symbol: TSX-V: BNZ Telephone: 604-619-0225 Email: [email protected] and Fax: 604-980-6264 [email protected] Website: www.bonanzamining.com
Bonanza Mining Corporation Announces that it has entered into an agreement to purchase a 100% interest in additional mineral claims adjacent to its MC Property located in the Golden Triangle
March 20, 2024 – Vancouver, British Columbia: Bonanza Mining Corporation (“Bonanza”) (TSX-V: BNZ) is pleased to announce the following regarding its MC Property:
MC Property
Bonanza has entered into an agreement to purchase, from an arm’s-length vendor, three mineral claims adjacent to its MC property located in the heart of the Stewart mining camp on the top and eastern slope of Bear River ridge approximately 12 km north of Stewart BC. Ascot Resources Ltd.’s (“Ascot’s”) Premier gold mine and mill are located on the western slope of Bear Ridge. The agreement, which is subject to TSX Venture Exchange acceptance, provides for consideration consisting of a cash payment of $25,000, the issuance of 250,000 common shares to the vendor, with the vendor to retain a 1% net smelter return royalty interest in any production from the claims, of which 50% could be purchased by Bonanza for $500,000. This acquisition comprises 777.05 hectares, is expected to close within the next thirty days and would expand Bonanza’s mineral holdings in the area to 1780.05 hectares and provide further scope to the exploration of the east side of Bear Ridge.
The area north of Stewart has been described as “One of the most important mineral trends of northwestern British Columbia.”
Qualified Person
Technical information in this news release has been approved by Christopher Graf, P. Eng., the Vice- President Exploration, as well as a Director of Bonanza and a Qualified Person for the purposes of National Instrument 43-101.
For further information, please contact:
Bonanza Mining Corporation 423 East 10th Street North Vancouver, B.C. V7L 2E5 Attention: Alfredo De Lucrezia, President, CEO and Director Tel: 604-619-0225 Email: [email protected]
or
Chris Graf, Vice-President, Exploration Tel: 250-429-3572 Email: [email protected]
or
Drew Burgess, Director Tel: 403-383-8254 Email: [email protected]
Cautionary Statements
This press release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.