Venga Aerospace Systems Inc.

Venga Aerospace Systems Inc.

September 07, 2010 14:38 ET

Venga: GMI Provides Update on GMI's Liberian Gold Mining Operations

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2010) - Venga Aerospace Systems Inc. (TSX VENTURE:VAV)(PINK SHEETS:VNGAF) (the "Company") announced that the Liberian Ministry of Lands Mines and Energy has confirmed that the Company's mining affiliate, Global Mineral Investments, LLC ("GMI") has recovered a further 19 ounces of gold from GMI's dredging operation on the Dugbe River in Sinoe County, Liberia during the month of April, 2010.

"Continuing adverse weather conditions, which have caused excessive flooding in our area of operations, have greatly restricted our ability to dredge through the months of March and April of this current mining season," stated GMI's president, Jon O'Regan. "These continuing, unseasonable rainy conditions have made any further dredging operations through the subsequent summer months impractical," remarked O'Regan. "After careful consideration with our site managers, it was decided to halt dredging operations with the plan to re-commence full mining operations in November of 2010," continued O'Regan. "The safety of our work crews is of paramount importance to us. A cessation of our current mining operations with a re-start in November, when the water levels of the Dugbe River are lower, safer and more manageable, was the only prudent course of action to take in the circumstances," stated O'Regan.

GMI further confirmed that it continues to be in direct consultations with the RAM Consulting Group ('RAM") with respect to RAM's potential financing of GMI's proposed landed based mining operations at GMI's Kumasi Hill site.

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

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