Mr. Drew Burgess reports

BONANZA MINING CORPORATION ANNOUNCES CORPORATE CHANGES

Bonanza Mining Corp. has provided corporate developments.

Alfredo De Lucrezia and John Pallot have been appointed to the board of Bonanza. Additionally, Mr. De Lucrezia has been appointed president of Bonanza.

Mr. De Lucrezia is an experienced businessman who has founded a number of publicly listed companies. From 2013 to 2016, Mr. De Lucrezia was chief executive officer, chief financial officer, president and director of Manera Capital Corp. (now GT Gold Corp., which was acquired by Newmont Corp.). He also founded Califfi Capital Corp., as well as Vincero Capital Corp., also serving as the CEO of both companies. Mr. De Lucrezia is a director of Rakovina Therapeutics Inc., a company engaged in biopharmaceutical research company focused on the development of innovative cancer treatments and he is the president, CEO and a director of AD4 Capital Corp., which it expects to soon complete its qualifying transaction with a company in the clean tech space. Mr. De Lucrezia has been a director and/or officer of reporting issuers over the past 25 years, culminating in a wealth of experience in board management, company growth and strategy. Currently, Mr. De Lucrezia manages a multimillion-dollar real estate and business portfolio of private companies.

Mr. Pallot has been a self-employed consultant in the mining industry since 2002. Mr. Pallot studied at Simon Fraser University prior to serving with Telus Corp. for 30 years. He has more than 20 years of involvement with public companies as a director and/or in senior executive capacities with such companies as Statesman Resources Ltd., Messina Minerals Inc., Windarra Minerals Ltd. and Red Mile Minerals Corp. (now Orla Mining Ltd.). He presently serves as an independent director of Klondike Gold Corp. He was a director of Califfi Capital Corp. (now Bonanza Mining Corp.) from February, 2017, to August, 2024. He was a director of Vincero Capital Corp. (now Rakovina Therapeutics Inc.) from May, 2019, to March, 2021. He was a director of Manera Capital Corp. (now GT Gold Corp.) from January, 2014, to May, 2021.

Raymond Marks has resigned as a director of Bonanza and the company thanks Mr. Marks for his service as a director.

Dayton Marks has resigned as president and chief executive officer of Bonanza, although he remains a director.

Andrew Burgess, currently a director of Bonanza, has been appointed CEO.

In the near term Bonanza will be focused on conducting a drill program on its MC property located adjacent to Ascot Resources Ltd.'s Premier gold project. A 2020 National Instrument 43-101 report on the MC property recommended a phase 1 drill program consisting of coring 1,000 metres in several holes to test the IP chargeability anomalies and gold-, silver-bearing quartz-carbonate veins within the multielement soil anomaly. Depending on positive results from the phase 1 drill program a phase 2 2,000-metre follow-up drill program was also recommended. A five-year drilling permit has been issued to Bonanza and a drilling program will be designed to test the large IP chargeability anomaly on the northern part of the MC property that was outlined by Bonanza's 2017 IP survey. This IP anomaly is associated with the historical Dalhousie copper, gold, magnetite mineral showings that were blast trenched and sampled by a previous company in 1979 (A.R. No. 7841). Three of their chip samples respectively returned 0.44 ounce per tonne gold, 0.2 oz/t silver and 0.3 per cent copper over six metres, 0.12 oz/t gold, 0.2 oz/t silver and 1.0 per cent copper over three metres and 0.24 oz/t gold, 0.5 oz/t silver and 1.9 per cent copper over three metres. The drilling will also test the system of polymetallic quartz/carbonate veins on the southern part of the property that were located and sampled in 2017 and 2019. The main mineralized vein structure has a strike length of over one kilometre and lies within an associated multielement, greater than one km long by 150 m to 200 m wide, soil anomaly coincidently enriched in gold (greater than 50 parts per billion), silver (greater than three parts per million), lead (greater than 300 ppm), zinc (greater than 300 ppm), copper (greater than 50 ppm) and arsenic (greater than 20 ppm).