Venga Aerospace Systems Inc.

Venga Aerospace Systems Inc.

June 15, 2009 08:30 ET

Venga's Affiliate Commences Liberian Gold Mining Operations

TORONTO, ONTARIO--(Marketwire - June 15, 2009) - Venga Aerospace Systems Inc. (TSX VENTURE:VAV) (PINK SHEETS:VNGAF) (the "Company") announced that its mining affiliate, Global Mineral Investments, LLC ("GMI"), has now started both land and river based gold mining operations at GMI's GoldMatta mining site located in the Sanquin Mining Zone, Sinoe County, Liberia.

GMI's land based operation is being carried out at its Kumasi Hill project through the use of ten large water pumps, the construction of a 26 foot sluice box and the excavation of a 28 foot long trenching shaft. The current mining operation at the Kumasi Hill project is only minimally affected by the Liberian rainy season and will remain operational throughout the year. Photographs depicting the initial operational activities at GMI's Kumasi Hill project can be viewed on line at Venga's website:

GMI's initial dredging operations are being conducted in those portions of the Dugbe River that flow through GMI's GoldMatta mining site. GMI's main gold mining dredge is operated by a crew of seven, plus two local divers who have extensive knowledge of the Dugbe River. Unlike its land based mining operations, GMI's gold dredging operations in the Dugbe River can only be conducted for approximately 9 months of the year, with active dredging being halted for a period generally running from the start of August through mid-October due to high water levels resulting from Liberia's rainy season.

The commencement of GMI's mining operation was confirmed and commented on by Mr. A. Kpandel Fayia, Deputy Minister for Planning and Development, Ministry of Lands, Mines and Energy, Republic of Liberia who, in an official communique, stated, "GMI is now a gold production company in Liberia." "I hope that your success will encourage other American and Canadian companies to Liberia," continued Deputy Minister Fayia. "The Government actively supports new companies that hire Liberian workers as GMI has done," concluded Deputy Minister Fayia.

The significant challenges that GMI's mining project encountered and, ultimately overcame when mining operations were commenced, were commented on by GMI's President, Jon O'Regan who stated, "We have solved political problems, geology problems, staffing problems, geographical problems, motivational problems, financial problems, jungle rot problems and other problems the Harvard Business Review never heard of."

"The start of mining operations at the Kumasi Hill and Dugbe River projects is another promising and positive milestone in the ongoing development of GMI's planned gold mining operations in Liberia," stated Venga President, Hirsh 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.

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