SOURCE: First Canadian American Holding Corporation

November 02, 2005 08:45 ET

First Canadian American Holding Corporation Announces Kachina Gold Corporation Completes First Commercial Gold Sale Mined From Its Mohave County, AZ Property

TORONTO -- (MARKET WIRE) -- November 2, 2005 -- First Canadian American Holding Corporation (OTC: FCDH) announces today Kachina Gold Corporation, an emerging junior gold exploration and production company, has just completed its first sale of gold commercially mined from its Mohave County, Arizona property. The sale of this gold represents the first revenues for the Company, and signals entrance into a critical phase in corporate development for Kachina Gold Corporation.

The Company has already entered the production phase in its Mohave County properties and is currently producing upwards of 150 ounces per week. 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 4,000 ounces valued at $1.7 million at current gold prices. Over the intermediate term, Kachina expects that production will reach 8,000 ounces per year.

"This first sale of commercially produced gold represents a crucial development in the expansion of Kachina's business, and will serve to validate the strategic plan that we have undertaken over the last year,'' noted Robert M. Gaither, President of Kachina. "With the recent ramp-up in production from the Mohave County property, we expect this to be the first of regular commercial sales that will produce meaningful revenues in its first phase of production operations. With gold prices now near eighteen year highs, the timing of this commercial production and sales could not be better for Kachina or its shareholders,'' he stated.

About Kachina Gold Corporation

Kachina Gold Corporation (http://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.

About First Canadian American Holding Corporation:

First Canadian American Holding Corporation is a holding company with subsidiaries in a range of businesses. The Company's subsidiaries conduct operations in areas of digital television, radio and building and construction and natural resources. The company is actively looking at several other opportunities in many different industries such as additional natural resources, wireless, technology and biotechnology.

Safe Harbor

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

http://www.fcahc.com/

Contact Information

  • CONTACT:
    First Canadian American Holding Corporation
    Sandy Winick
    Telephone 416-918-2209
    E-mail info@fcahc.com

    CONTACT:
    Kachina Gold Corporation
    Sanford Altberger
    (702) 325-2143
    www.kachinagold.com