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."
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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SOURCE VHGI Holdings, Inc.