Venga Aerospace Systems Inc.

Venga Aerospace Systems Inc.

September 05, 2007 08:55 ET

Liberian Government Grants Gold Mining Licences to Venga's Affiliate

TORONTO, ONTARIO--(Marketwire - Sept. 5, 2007) - Venga Aerospace Systems Inc. (TSX VENTURE:VAV)(PINK SHEETS:VNGAF) announced that the Ministry of Lands, Mines and Energy of the Republic of Liberia has awarded Venga's mining affiliate, Global Mineral Investment, LLC ("GMI") four Class B Gold Mining Licences (GM-191-900; GM-192-900; GM-193-900 and GM-194-900) covering four separate areas, each comprising 900 acres, located in the Sanquin Mining Zone, Sinoe County in the Republic of Liberia. Venga presently has a 3% interest in GMI and has the option to acquire up to an additional 15% equity interest in its affiliated mining company.

"I am most pleased to confirm that the Ministry of Lands, Mines and Energy has granted Global Mineral Investments, LLC, a Class B mining licence for Sinoe County," stated Mr. Kpandel Fayia, Deputy Minister for Planning and Development, Ministry of Lands, Mines and Energy for the Republic of Liberia. "Global Mineral Investments and its investment partner, Venga Aerospace Systems Inc., are most welcome new businesses in the expanding Liberian economy," continued Deputy Minister Fayia.

"The awarding of these four mining licences by the government of Liberia was the result of over two years hard work by our development team," stated GMI Director, Jon O'Regan. "The preliminary assay reports that we commissioned have indicated that our awarded concessions are quite promising," added O'Regan. "We are both excited and privileged to have been afforded this opportunity to participate in the economic rebirth of Liberia," concluded O'Regan.

"We are very pleased that Venga and its shareholders have a stake in GMI's Liberian gold mining operation," stated Venga President, Hirsh Kwinter. "The awarding of these mining licences and Venga's participation in GMI's mining venture provides our Company with a new and exciting opportunity," continued Kwinter. "Management will closely monitor the commercial development of these mining operations and, if warranted, we will exercise our option to increase Venga's ownership interest in GMI," concluded Kwinter.

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.

SHARES ISSUED: 228,271,893

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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