LEXINGTON, Ky., Sept. 3 /PRNewswire/ -- VHGI Holdings (OTC Bulletin Board: VHGI) VHGI Gold LLC, its wholly-owned operating subsidiary, wishes to update their investors and stockholders on the progress of the due diligence process on the Gold Creek Placer Mining Prospect in Montana.

This process, announced July 15, 2010, has proven these leases simply fall outside of the proposed business plan being brought forward by Eric Leonetti, VP / COO of VHGI Gold.  "We have decided after a lengthy due diligence period concerning this placer mining prospect that we are not going to move forward on this project at this time," stated Mr. Leonetti, adding, "we remain confident that these Montana leases are worthy of being mined just not by us, at this time, based on the cost structure of the project.  We wish the current lease holders well as we suspended this relationship on good terms and may keep in touch with them as they progress on the project without us."

Investors are invited to obtain information concerning our operations at http://www.vhgigold.com or by calling shareholder relations at 561-515-6035 or emailing info@dpmartin.com.

About VHGI and VHGI Gold

VHGI is a diverse company with assets and interests focusing on opportunities within the Precious Metals Markets and Energy Markets as well as some Healthcare related Assets. 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.

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http://www.vhgigold.com