Venga: GMI Signs Letter of Intent to Raise $12 Million to Finance Its Liberian Land Based Gold Mining Operations

Venga Aerospace Systems Inc. (TSX VENTURE:VAV)(PINK SHEETS:VNGAF) (the
"Company") announced that the Company's mining affiliate, Global Mineral
Investments, LLC ("GMI") has signed a letter of intent with RAM Consulting Group
("RAM") of Charlotte, North Carolina wherein RAM has agreed, on a best efforts
basis, to raise $12 million dollars through a new joint venture to finance GMI's
proposed land based gold mining operations in Liberia. "This funding will be
specifically used to fund the gold extraction process at GMI's Kumasi Hill 15
and 18 sites," stated GMI President, Jon O'Regan. "Our plans include
constructing a state of the art gold processing plant along with bridges and
roads in Sinoe County," continued O'Regan. "The plant will employ over 100 local
Liberians and provide the area with a much needed economic boost," commented
O'Regan. "While the estimated life of the two Kumasi Hill projects is
approximately five years, there are several other unexplored areas in our
concessions which will also be evaluated. It is our plan to be developing these
areas for the next 15 to 20 years," concluded O'Regan.


"We at RAM Consulting Inc. are very excited about the opportunity our joint
venture offers both of our teams," stated RAM Spokesperson, Richard Miller.
"This fits our operation of interests very well. Our investment concepts involve
holdings in gold mines in the US, Canada, Ghana and other parts of the world,"
continued Miller. "We have discussions happening with De Havilland on helicopter
support, our UK partners on land evaluations and our Ghanaian partner on
construction teams for roads, bridges and ground logistics utilizing Liberian
labour," concluded Miller. The full text of Miller's comments can be found
online at GMI's website: www.gmigold.com.


The Company also announced that its annual general meeting of shareholders will
be held on Tuesday, February 23, 2010 at 10:30, local Toronto time, at the
Mississauga Convention Centre. Venga shareholders of record as of January 19,
2010, will be entitled to vote at the meeting.


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: 239,171,893

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