VHGI Holdings, To Complete Engineering Report on Arizona Gold Leases

Jun 29, 2010, 08:30 ET from VHGI Holdings, Inc.

LEXINGTON, Ky., June 29 /PRNewswire-FirstCall/ -- VHGI Holdings, Inc. (OTC Bulletin Board: VHGI) through its wholly-owned operating subsidiary VGHI Gold is pleased to announce that a geologist has been engaged to complete a 43-101 engineering report for the company's two gold mining prospects in Northern Arizona; Treasure Gulch and Sun Gold. The 43-101 engineering report will be completed by Dan Stage who was previously retained by Western Sierra Mining, the former owners of the two subject properties and therefore already has intimate knowledge of the leases.

Mr. Stage, has a Bachelor of Science in Geology from the University of Washington with a minor in physics and oceanography.  In addition, he is a Nevada Professional Geologist, National Instrument 43-101 Certified by the Canadian Institute of Mining and is a Certified Environmental Manager, State of Nevada EM-1737.  

"We are now entering stage two of this project and hope to have this report completed within 45 days.  With the completion of this report and the planned hiring of a mining operator and engineer we can now begin to set our plans for starting the mining operations," said Mr. Jim Renfro President of VHGI Gold, adding "it is our expectation to have the mines in operation and in production prior to the end of the 2010."

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.

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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.