VHGI Holdings, Inc. Closes on Treasure Gulch and Sun Gold Leases

Jun 09, 2010, 08:37 ET from VHGI Holdings, Inc.

LEXINGTON, Ky., June 9 /PRNewswire-FirstCall/ -- VHGI Holdings, Inc. (OTC Bulletin Board: VHGI) is pleased to announce that VHGI Gold, LLC, its wholly-owned operating subsidiary, has completed the process of purchasing the Federal Lease rights to two gold mining prospects in Northern Arizona; Treasure Gulch and Sun Gold.

VHGI Gold's President Jim Renfro stated, "Our team has worked long and hard to accomplish this initial acquisition.  We look forward to putting the remaining pieces in place that will allow for permitting and the beginning of a mining operation we hope in Q4 of this year."

The initial goal will be to complete the 43-101 engineering reports, hire a mining engineer and put a solid mining plan in place allowing the company an even clearer picture of the proven reserve of 76,000 ounces (gold) and the potential of over 200,000 ounces (gold) based on the information provided by the geologists at Western Sierra Mining from whom the purchase was made.

"What remains central to this project is that gold has risen to an average of over $1,200 per ounce over the last six months without a real significant push from large capital / publicly held funds.  This move was motivated we suspect by mostly privately held capital funds who smartly arrived early with larger institutional monies soon to follow," said Mr. Renfro, adding, "With this said we see significant upside in this project."

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.



RELATED LINKS

http://www.vhgigold.com