FT. WORTH, Texas, Aug. 3, 2011 /PRNewswire/ -- VHGI Holdings, Inc. (OTC Bulletin Board: VHGI.QB) and VHGI Gold, LLC, its wholly-owned operating subsidiary, announced today that they have amended their original purchase agreement with Western Sierra Mining Corporations (WSRM) to extend the original 30 day period to finish its feasibility study, operations planning and providing minimum funding for the mining operations for the Sun Gold Project between Prescott and Mayer, AZ. U.S.A. acquired by VHGI Gold, until February 13, 2012.
"The original agreement executed on June 8, 2010 includes a royalty to WSRM and stipulations as to investments and time," said Mr. Eric Leonetti, Vice President / COO; VHGI Gold. Mr. Leonetti went on to say, "Since the execution of this Agreement, we have obtained an additional 24 leases to this project. This additional time should enable us to complete the fund raising process, further our exploration of the total claim area and develop a final mining operation plan."
Within this time period VHGI Gold plans to broaden its exploration of this almost 500 acre project to include further ground sampling, geochemical testing and drilling.
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:
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SOURCE VHGI Holdings, Inc.