American Bonanza Gold Mining Corp - Bonanza
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Third party reports should be read together with the detailed information provided in the Properties  pages on this website.

August 15, 2005

RICHARD SAVILLE – The Speculative Investor (www.speculative-investor.com)

“The company … is being valued by the stock market at only US$11/ounce. What makes the valuation particularly attractive, though, is that the gold resources are high-grade and located in parts of the world where the political risk is low.

Given the quality of BZA's gold resources, and in particular the high probability that the above-mentioned projects will be developed into profitable mining operations over the next three years, we think US$25-$35 per ounce-in-the-ground would be a reasonable market valuation for BZA at this stage of its life. Therefore, the stock appears to have considerable upside potential.”
 

August 15, 2005

CANACCORD CAPITAL CORPORATION – Graeme Currie
Canaccord Capital Corporation has produced a comprehensive update on the Corporation’s exploration activities. *

November 13, 2003

CANACCORD CAPITAL CORPORATION – Graeme Currie
“Maintain American Bonanza as a Speculative Buy with a revised target of $0.54/share, up from $0.48/share” *

October 21, 2003

JOHN EMBRY – Sprott Asset Management
On RobTV's Market Call, named American Bonanza as one of his top 3 junior picks.

August 28, 2003

CLIVE MAUND[email protected]
“American Bonanza is a stock which I consider to have great potential, but unlike a number of other gold stocks and a good many silver stocks it has not yet taken off and is certainly not overbought.”
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May 9, 2003

CANACCORD CAPITAL CORPORATION – “Morning Coffee”
“When John Embry speaks, people listen. Sprott Asset Management President John Embry was featured on ROBtv's Market Call. A favourable mention and American Bonanza trades higher.”*

May 7, 2003

CANACCORD CAPITAL CORPORATION – Graeme Currie
“In our view, the potential to expand resources is very good, as well as the opportunity to define a high-grade core for early mill feed. We maintain American Bonanza as a SPECULATIVE BUY with a 6 to 12 month target price of $0.48.” *

April 2, 2003

CANACCORD CAPITAL CORPORATION – Graeme Currie
“Bonanza is well managed by Brian Kirwin, whom we consider as one of the most knowledgeable, and having one of the best geologic databases of the Great Basin area. We maintain American Bonanza as a Speculative Buy with a revised 12 month target price of $0.48.”*

February 1, 2003

JAY TAYLOR - J.Taylor's Gold & Technology Stocks Weekly Telephone Hotline Transcript. www.miningstocks.com
“…we think chances are good that this stock will rise dramatically in the future as exploration no only on the Copperstone project but on numerous Nevada targets should provide a steady stream of favorable assays.”
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January 23, 2003

ERESEARCH – Chris Rockingham
Target Price: $0.50 - “We are recommending American Bonanza as a Speculative Buy to investors who are seeking a near term gold development play, in addition to significant upside on exploration.”
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*Availability of this publication is restricted to Canadian residents by Canacccord Capital Corporation. 
To obtain a copy of the report please contact Canaccord directly at [email protected]