VIPR Industries Inc.

VIPR Industries Inc.

August 05, 2008 02:30 ET

VIPR Industries Completes Audit, Initiates Drafting of Registration Statement to Prepare for Move to OTCBB Exchange

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2008) - VIPR Industries Inc. (PINK SHEETS:VIPR)(FRANKFURT:VIN) ("VIPR") is pleased to report that certified accounting and audit firm Chisholm Bierwolf & Nilson CPA has completed its audit of VIPR's 2006 and 2007 financial statements. Completing the audit is a critical milestone in VIPR's preparations to become a fully reporting issuer trading on the OTC Bulletin Board. The Company has also initiated efforts to draft a registration statement for submission to the Securities and Exchange Commission.

Mr. Mike Gerstner, President & CEO of VIPR Industries, commented: "At VIPR Industries we are fully committed to corporate integrity and transparency. We are working to elevate our listing from the Pink Sheets to the OTCBB, holding ourselves to higher standards of financial reporting and shareholder communication. We believe moving to a higher exchange will enhance VIPR's ability to raise awareness in the investment community, increase our access to capital and provide detailed disclosure for the benefit of current and potential shareholders."

As announced, VIPR has completed the acquisition of its Singida Gold Property located directly adjacent to and along strike from Shanta Gold Limited's Singida Project where Shanta has identified an indicated resource of 543,000 ounces of gold valued at an estimated $500 million. VIPR has also closed the acquisition of the Itigi Manyoni Uranium Property where airborne radiometric surveys have identified uranium anomalies indicating strong potential for significant uranium mineralization.

A substantial increase in mineral output led by gold along with a rise in industrial production has created long-term growth in Tanzania. The east African country achieved real GDP growth of 7.3% in 2007, up from growth of 6.7% in 2006 (Oxford Economic Country Briefings, May 21, 2008). Tanzania features a stable government, favorable investment policies and mineral-rich geology.


VIPR Industries Inc. is a precious metals exploration and development company focused on Gold, Uranium, and other high quality precious metal resources and reserves through mergers, acquisitions and resource development.

Cautionary "Safe Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. Some of the information included in this press release and other documents by VIPR Industries Inc. (as well as information included in statements made by its representatives, about information about the business it is engaged in or proposes to engage in or about acquisitions) may contain forward looking statements. Such statements may refer to other adjacent properties and company's and their announced / reported / released estimates. Although VIPR is encouraged from its property(s), there is no assurance that the same or similar results, or mineralization will be found on VIPR's property(s). Forward looking statements that do not relate strictly to historical or current facts, often will be phrased in the future tense and may include the words "may," "could," "should," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan" or other words or expressions of similar meaning. Forward looking statements that relate to VIPR Industries Inc. ("VIPR") or its present or proposed business are based on VIPR's current beliefs and expectations about future events and include statements that reflect management's beliefs, plans, objectives, goals, expectations, anticipations and intentions with respect to VIPR's financial condition, results of operations, future performance and business, including statements relating to VIPR's business strategy and VIPR Industries current and future development plans. Factors that could cause actual results to differ materially from projections include, among others, precious metals prices, decisions and activities of the operator of the various properties, unanticipated grade, geological, metallurgical, processing or other problems the operator may encounter, changes in project parameters as plans continue to be refined, economic and market conditions, as well as other factors described elsewhere in this press release or any other filings submitted by VIPR. In addition, acquired royalty interests on certain projects are subject to risks associated with conducting business in a foreign country, including application of foreign laws to contract and other disputes, foreign environmental laws and enforcement and uncertain political and economic environments. Most of these factors are beyond the Company's ability to predict or control. The Company disclaims any obligation to update any forward-looking statement made herein. Readers are cautioned not to put undue reliance on forward-looking statements.

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