TOPEKA, Kan., Nov. 10, 2005 (PRIMEZONE) -- Kachina Gold Corporation (Pink Sheets:KCHG), an emerging junior gold exploration and production company, announced today that it is bringing in additional mining and extraction equipment to enable increased production from its Mohave County, Arizona gold claims. This equipment will include backhoes, loaders, trucks and an on-site mill, and will provide Kachina with the production capability to significantly ramp its production above current levels of 150 ounces per week.
The Mohave County property consists of fourteen claims with estimated total reserves expected to hold for fifteen years of full production. Geological surveys of the property have indicated gold resources ranging from 2.5 grams to 34 grams per ton of ore at the claims. Current production on the property is approximately 150 ounces per week. The Company anticipates that it will be able to ramp production on the property to approximately 4,000 ounces per year over the near term with the installation of this new equipment.
"Our most recent efforts to bring in new mining and processing equipment to Mohave County are a major step forward to fulfilling our goals of bringing the entire property into production over the intermediate term," commented Robert M. Gaither, President of Kachina Gold Corporation. "This is an ongoing effort in pursuit of our strategic development plans, and we expect to be able to attain improved production and revenue targets as this work progresses."
About Kachina Gold Corporation
Kachina Gold Corporation (www.kachinagold.com) is an innovative new entrant into the white-hot gold mining industry. The Company has acquired a working interest in a number of historically producing mining claims located in the prolific gold producing region of Mohave County, Arizona. Kachina's claims were heavy producers over 70 years ago before the limitations of mining technologies forced abandonment. Kachina has established operating agreements with an experienced mining partner, and is already extracting ore out of the ground today. Upon completion of remediation and rework on these claims, Kachina expects to extract approximately 1 ton a year- or $14.8 million at today's gold prices.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by Kachina may differ materially from these statements due to a number of factors. Kachina assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.