Venga Aerospace Systems Inc.

Venga Aerospace Systems Inc.

January 30, 2007 09:00 ET

Venga Signs Letter of Intent With ARINC Engineering Services, LLC to Pursue Snowbirds Proposal

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2007) - Venga Aerospace Systems Inc. (TSX VENTURE:VAV)(PINK SHEETS:VNGAF) announced today that it has now signed a letter of intent with ARINC Engineering Services, LLC confirming the parties' intention to finalize a full teaming agreement with respect to their current proposal to the Canadian government to supply replacement aircraft for the Canadian Armed Forces' famed Snowbirds demonstration squadron.

Venga markets a range of 3D products and services through its new 3DP North America Joint Venture. The Company's aerospace division, which was in development of a full scale composite jet aircraft has, in association with ARINC Engineering Services, LLC, made a formal proposal to the Canadian government to provide replacement aircraft for the Canadian Armed Forces' Snowbirds demonstration squadron. Venga's resource division has acquired an equity interest in a private U.S. company that is currently seeking to secure gold mining concessions in West Africa.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that may cause the Company's results to differ materially from expectations and speak only as of the date hereof.

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