Landon T. Clay and East Hill Hedge Fund, LLC announcement regarding holdings in American Bonanza Gold Corp.



    TORONTO, March 10 /CNW/ - East Hill Management Company, LLC ("East Hill")
has become aware of the fact that on December 11, 2007, East Hill Hedge Fund,
LLC, Cold Springs Harbor Laboratory, East Hill Holding Company, LLC, Clay
Mathematics Institute, Clay Fellowships Charitable Trust and other
discretionary accounts it manages (collectively, the "East Hill Entities")
together with Landon T. Clay held common shares and warrants for common shares
of American Bonanza Gold Corp. (the "Issuer") such that their aggregate
holdings represented 10% or more of the issued and outstanding common shares
of the Issuer.
    Mr. Clay, by virtue of his position as the managing member of East Hill,
the investment advisor to the East Hill Entities, possesses the sole power to
vote and the sole power to direct the disposition of all of the securities of
the Issuer held by the East Hill Entities.
    On December 11, 2007, Mr. Clay and the East Hill Entities acquired
239,000 common shares of the Issuer through purchases on the Toronto Stock
Exchange such that Mr. Clay, together with the East Hill Entities, held
approximately 10.1% of the issued and outstanding common shares of the Issuer
(on a partially diluted basis).
    During the month of December, Mr. Clay acquired, through private
placement issuances, control, direction and ownership of approximately
8,500,000 common shares and 2,125,000 warrants of the issuer. During the month
of January, 2008 East Hill Hedge Fund, LLC made periodic purchases of commons
shares through the Toronto Stock Exchange. Purchases made throughout the month
of January resulted in the East Hill Entities together with Mr. Clay holding
more than 20% of the outstanding common shares of the Issuer. As at
January 31, 2008, the East Hill Entities together with Mr. Clay held
approximately 23.2% of the outstanding common shares of the Issuer (on a
partially diluted basis). In February 2008, Mr. Clay donated 8,500,000 common
shares to a charitable organization. As at March 10, 2008 Mr. Clay and the
East Hill Entities held 16,638,450 common shares and 2,125,000 warrants of the
Issuer, representing approximately 15.9% of the outstanding common shares of
the Issuer (on a partially diluted basis). Of these holdings, (i) 14,160,471
common shares are owned by East Hill Hedge Fund, LLC representing
approximately 12.02% of the outstanding common shares of the Issuer (on a
partially diluted basis): and (ii) 1,033,642 common shares and 2,125,000
warrants are directly and beneficially owned by Mr. Clay, representing 2.63%
of the outstanding common shares of the Issuer (on a partially diluted basis).
    The securities were acquired for investment purposes. Depending on market
conditions and other factors that Mr. Clay may deem material to his investment
decision, additional securities may be purchased on behalf of Mr. Clay or any
of the East Hill Entities, or securities currently owned may be sold on the
open market or in private transactions.
    Neither Mr. Clay nor any of the East Hill Entities intends to make a
formal bid for securities of the Issuer or intends to propose a reorganization
or business combination with the Issuer which if completed would reasonably be
expected to result in Mr. Clay or any of the East Hill Entities, alone or with
joint actors, possessing effective control of the Issuer or its successor.





For further information:

For further information: and to obtain a copy of the Early Warning
Report in connection with this release please contact Eric Woodbury, General
Counsel, at (617) 450-0150; The report will also be available at
www.sedar.com; Landon T. Clay and East Hill Hedge Fund, LLC c/o East Hill
Management Company, LLC, 200 Clarendon Street, Suite 6000, Boston,
Massachusetts, 02116-5028, USA

Organization Profile

LANDON T. CLAY AND EAST HILL HEDGE FUND, LLC

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