FT. WORTH, Texas, March 30, 2011 /PRNewswire/ -- VHGI Holdings, Inc. (OTCQX: VHGI) and VHGI Gold, LLC, its wholly-owned operating subsidiary, announced today that VHGI Gold has increased its holdings in their Sun Gold Project located between Prescott and Mayer, AZ U.S.A. by adding 24 new claims, making the claim site over 500 acres from the previous 80 acres.
"As part of the Phase 1 plan and the initial evaluation of the area with our geologic team, we have decided to expand our existing claim group to fully cover the Sun Gold Deposit," said Mr. Eric Leonetti, Vice President / COO of VHGI Gold. Mr. Leonetti stated, "Our expansion decision was based on an extensive review of the geology, and we are confident that this will allow us to better realize the resource potential of the Sun Gold Project."
VHGI Gold will now continue the exploration of the expanded Sun Gold Project claim group, including a more complex exploration operation, which will include a geochemical study and additional drilling.
"Our team has worked hard to accomplish this expansion in a proper and well thought-out manner," said Mr. Jim Renfro, President of VHGI Gold, "and now we can concentrate on the sampling and mapping of the area."
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining Industry and intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures.
"Safe Harbor" Statement:
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
For Further Information:
Shareholder Relations – Communications 561-515-6035
SOURCE VHGI Holdings, Inc.