GIG HARBOR, Wash., April 28 /PRNewswire-FirstCall/ -- LKA
International, Inc. (OTC Bulletin Board: LKAI) announces production results
from LKA's Golden Wonder Mine located near Lake City, CO for the first
quarter of 2006 as follows:
Total ounces gold delivered 4,699.58
Total dry weight tons delivered (ore) 290
Net ounces gold received @ 90% 4,229.62
Settlement grade of ore 16.217 ozs. gold per ton
Settlement price $556.81
First quarter production results represent a decrease in net ounces
received of 1,215.49 ounces over the fourth quarter, 2005 and an increase
of $81.05 in the settlement price (per ounce). Settlement grade decreased
from 20.378 ozs. per ton in the fourth quarter, 2005. First quarter
production grades were substantially better than the weighted average
(14.25 ozs. gold per ton) grade of all shipments from the Golden Wonder
Mine during LKA's ownership of the property.
LKA financial results for the first quarter, 2006 have not yet been
reported. LKA expects to report these results soon. When reported,
financial results for the quarter ended March 31, 2006 will be filed on
As the sole property owner, LKA currently receives a 10% net-smelter
royalty (less certain shipping and handling charges) from Golden Wonder
production. LKA plans to substantially increase it's interest in Golden
Wonder production (up to a 50% net-profits interest) by financing the
estimated $3.5 million expansion of the Mine's existing production zone.
LKA's plans to expand Golden Wonder production are subject to a number
of conditions including but not limited to, favorable financing
terms/availability, permits, favorable geology, etc. There can be no
assurance that LKA will be successful in this endeavor.
Forward-looking statements in this release are made pursuant to the
'safe harbor' provisions of the Private Securities Litigation reform Act of
1995. Investors are cautioned that such forward-looking statements involve
risks and uncertainties, including, but not limited to, continued
acceptance of the company's products and services, competition, new
products and technological changes, as well as any and all 'other risks'
associated with business.
SOURCE LKA International, Inc.