Copperstone Air Photo showing Target Zones & Development
| ||June 10, 2002|
$2 Million Short Form Offering Completed
| ||AMERICAN BONANZA GOLD MINING CORP. (the "Corporation") is pleased to announce that its agent Canaccord Capital Corporation has completed a public offering, pursuant to a Short Form Offering Document dated May 24, 2002, of 15,384,600 units at $0.13 per unit, raising gross proceeds of $2,000,000. Each unit was comprised of one Common Share and one transferable warrant ("Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share at a price of $0.15 until June 10, 2003 and $0.17 until June 10, 2004. The Corporation is advised that The TSX Venture Exchange will issue a notice that trading of the Warrants will begin tomorrow.|
The proceeds from this financing will be used primarily for the exploration and further development of the Copperstone project. With direct reference to the Corporation's press release dated March 4, 2002 the Copperstone project has an estimated total resource of 2.1 million tons at an average uncut grade of 0.58 ounces of gold per ton, containing over 1.2 million ounces of gold. Additionally, the Corporation will drill test extensions of known high-grade mineralisation on its 100% owned Pamlico project.
About American Bonanza
American Bonanza is engaged in the acquisition, exploration and development of high-grade precious metal properties. American Bonanza's innovative metallogenic techniques developed at considerable expense represent state-of-the-art tools for modern exploration in the Great Basin of Nevada and other areas. American Bonanza's metallogenic techniques have involved technical pioneering in terms of geological data analysis, hardware and software applications and will be the catalyst for future corporate growth.
Additional information about American Bonanza can be obtained at www.americanbonanza.com
AMERICAN BONANZA GOLD MINING CORP.
(signed) Brian Kirwin
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
For further information call or write:
Brian Kirwin, President and Chief Executive Officer (775) 824-0707
Giulio T. Bonifacio, Executive Vice President and Chief Financial Officer (604) 699-0023
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