TOPEKA, Kan., July 15, 2005 (PRIMEZONE) -- Kachina Gold Corporation (Pink Sheets:KCHG), an emerging junior gold exploration and production company with interests in a number of claims in Mohave County, Arizona, announced that its common stock has begun trading under the symbol "KCHG" on the OTC Pink Sheets.
The Company has already entered the production phase in its Mohave County properties and is currently producing upwards of 150 ounces per week. Kachina has recently drilled a water-well on the property, which will enable it to undertake full-time production activities. The Company has completed the necessary geological surveys, claim filings, operating agreements, and plans in place to bring all of the claims into production over the intermediate term. The Company expects gold reserves on the claims to hold for the next fifteen years, and anticipates that its share of production over the near term will amount to approximately 8,000 ounces valued at $3.4 million at current gold prices. Over the intermediate term, Kachina expects that production will reach 1 ton per year.
"Entering the public marketplace is an important milestone for Kachina, and will enable us to ramp up our production efforts in Mohave County and to pursue additional gold and mineral acquisition opportunities," stated Robert M. Gaither, President of Kachina. "We are extremely excited about the tremendous upside which this project offers Kachina and its shareholders. With gold prices up nearly 75% since 2001, the outlook for gold mining stocks has never been better. The underlying fundamentals for gold price performance are strong with a weak dollar, high U.S. budget and trade deficits, and low real interest rates, and many analysts are predicting that gold could hit $1,000 an ounce within the next decade." he continued.
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 $13.6 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.