LEXINGTON, Ky., July 26 /PRNewswire-FirstCall/ -- VHGI Holdings Inc.'s (OTC Bulletin Board: VHGI) wholly-owned operating subsidiary VHGI Gold LLC, is pleased to announce that after their recent onsite trips to the current Gold projects, it is now structuring each of the mining projects into their own operating subsidiaries.

The names of the subsidiaries will be TGP LLC, for the Treasure Gulch Property, Sun Gold Mining, LLC for the Sun Gold Mining project, and Granite County Placer LLC for the Gold Creek Project.

Comprised of multiple leases, the Gold Creek Placer Mine is a contiguous lease portfolio controlling approximately 1,060 acres of federal land and is credited with being the location of the first verified gold strike in Montana. As previously announced, according to GeoTerra Resources, this mine appears to contain approximately 1.8 million cubic yards of gold bearing material that is inferred to contain in excess of 100,000 ounces of placer gold with an expected average working grade of 0.04 - 0.06 ounces of placer gold per cubic yard.

"We recently had our team on the ground to conduct due diligence and are working toward completion of this transaction with GeoTerra," stated VHGI Gold's President Mr. Jim Renfro, adding, "We are currently exploring various financing alternatives including financing for company subsidiaries to operate the mines as well as a potential transaction that will retain a royalty interest in certain mines."

About VHGI and VHGI Gold

VHGI is a diverse company with assets and interests focusing on opportunities within the Precious Metals Markets and Energy Markets as well as some Healthcare related Assets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining Industry and intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures.

Safe Harbor Statement:

The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.

For Further Information:

Shareholder Relations - Communications 561-515-6035

SOURCE VHGI Holdings, Inc.