IRW-Press: Bonifaz Gold Plc Has Discovered New Gold Reserves

by Press Office

(IRW-PRESS and WireNews+Co) - Vienna, Austria - 03 September 2012

Bonifaz Gold Plc (BG), (BOG2.F – WKN: A1JUFK) is pleased to announce the discovery of new Gold Reserves next to its CABALLO BLANCO concession. The company has completed the legal process with the Bolivian Government. BG’s fully owned subsidiary, Minera Vicente Bernedo S.A., has been granted the right to explore, mine and develop a new concession named “LA SOLUCION”. This 100 hectare concession, four quadrilles, will increase additional reserves to the CABALLO BLANCO district. Metallurgical studies have given an average grade of 13.54 grams of gold per metric ton of ore. The samples were taken during exploratory missions in April and May 2012. The renowned metallurgical engineer Sissy Vargas, based in Oruro, Bolivia, has reviewed the samples and stated the very promising grades.

Oscar A. Bonifaz, CEO states, “This exploratory process confirms that BONIFAZ GOLD PLC is on the right track by investing funds on prospecting and expanding reserves in the CABALLO BLANCO – LA SOLUCION district. He also stated, “It took BG's subsidiary: MINERA VICENTE BERNEDO S.A. more than a year to finish negotiations and paper work with the government, this is a great accomplishment by BONIFAZ GOLD PLC. He added, “We will continue to inform our shareholders on the development of the CABALLO BLANCO – LA SOLUCION district”.

LABORATORY REPORTS OF SAMPLING CONDUCTED IN “LA SOLUCION”

Sample code Laboratory code Tested Gold Grade
Au (g/t)
DA-1 3642 26.90
DA-2 3643 247.42
DA-3 3644 7.97
DA-4 3645 0.43
DA-5 3646 11.55
DA-6 3647 76.87
DA-7 3648 473.02
DA-8 3649 2.99
DA-9 3650 1.48
DA-10 3651 1.31
DA-11 3652 6.56
DA-12 3653 1.45
DA-13 3654 12.88
DA-14 3655 8.57
DA-15 3656 0.43
DA-16 3657 0.77
DA-17 3658 0.17
DA-18 3659 16.43
DA-19 3660 1.69
DA-20 3661 0.20
DA-21 3662 1.88
DA-22 3663 6.32
DA-23 3664 15.74
DA-24 3665 64.96
DA-25 3666 0.43

BONIFAZ GOLD PLC (BG) is a British mining company with metallic and non-metallic operations and mineral deposits throughout Bolivia, South America. The Bonifaz Gold group has been operating since 1992 and used its knowledge, experience and resources to acquire and accumulate some of the richest gold and non‐metallic ore reserves in South America. The BG group currently has 44 mines in Bolivia, covering 10,670 hectares (26,366 acres) and representing approximately US$ 9 billion (€7 billion) of proved and probable reserves.

Further information can be found on the BONIFAZ GOLD PLC website at: www.BonifazGold.com (http://www.BonifazGold.com).

Contact
IR-Contact Germany
Hans Joachim Bischoff
Telefon: +49 (0) 511 165 965 – 40,
bischoff@st-ir.de (http://www.wirenews.co/mailto:bischoff@st-ir.de)

UK Business Address
BONIFAZ GOLD PLC
88 Wood Street, 10th Floor
London EC2V 7RS, United Kingdom

Registered Address in England and Wales
BONIFAZ GOLD PLC
Acre House, 11-15 William Road
London NW1 3ER, United Kingdom
U.K Company No. 07432940

Disclaimer:
This press release contains forward-looking statements based on beliefs of BONIFAZ GOLD PLC management. When used in this press release, words such as 'anticipate', 'believe', 'estimate', 'expect', 'intend', 'plan' and 'project' are intended to identify forward-looking statements. Such statements reflect the views of Bonifaz Gold as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Bonifaz Gold disclaims any intention or obligation to update these forward-looking statements.

The data on proved and probable reserves of minerals have been calculated and inferred based on multiple geological and metallurgical studies carried out by independent geologists and mining professionals and may not necessarily coincide with various classes of mineral resources as defined by the Canadian Institute of Mining (CIM).