Venga Aerospace Systems Inc. (TSX VENTURE:VAV) (PINK SHEETS:VNGAF) (the "Company") announced that the Company's mining affiliate, Global Mineral Investments, LLC's ("GMI") planned resumption of its Liberian mining operations have been temporarily delayed due to the sustained severity of the Liberian rainy season. GMI's President, Jon O'Regan is scheduled to return to Liberia on October 24, 2009 with mine dredging operations on GMI's Dugbe River site now being planned to re-commence the following week.
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"Production has been delayed due to heavy rains and remaining high rivers," stated O'Regan. "Our chief diver on the Dugbe River, George Bauche reported today that the river levels are finally dropping and we look forward to safely dredging once again," continued O'Regan. Venga Aerospace Systems Inc. is a publicly held company based in Toronto, Canada, whose shares are traded on the TSX Venture Exchange under the symbol "VAV" and in the U.S. PKS: VNGAF. The Company operates or holds interests in three separate business units: aerospace; 3D imaging and gold mining in West Africa. Venga’s aerospace division was engaged in the development of a full scale, composite jet drone/aircraft known as the TG-10 Brushfire and has made a formal proposal to the Canadian government to supply replacement jet aircraft for the Canadian Armed Forces’ famed Snowbirds aerial demonstration squadron. The Company’s 3D imaging unit holds a 30% interest in a U.S. based joint venture that was created to provide a range of advanced 3D imaging products and services for both the consumer and commercial marketplaces. Venga also owns a 20% interest in Global Mineral Investments Inc. LLC, ("GMI") a U.S. private corporation which was granted Class 'B' Gold Mining and Export Licenses by the Ministry of Lands, Mines and Energy of the Republic of Liberia for four concession each comprising approximately 900 square acres located in the Sanquin Mining Zone, Sinoe County in the Republic of Liberia. The company also holds an option to increase its ownership interest in GMI to 25%.
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