LEXINGTON, Ky., March 10 /PRNewswire-FirstCall/ -- VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) today announced that VHGI Gold LLC, its wholly-owned operating subsidiary, has entered into a letter of intent to purchase or lease additional mines from Western Sierra Mining Corporation, including a lease option on Phau Springs Mine. VHGI Gold is also determined to complete the purchase of Treasure Gulch.
Management hopes to reach a definitive agreement in the next 30 days subject to final due diligence. These acquisitions would be for stock, cash and royalties.
"This will give us estimated proven reserves, verified by Western Sierra, of approximately 76,000 ounces of gold and probable reserves of 208,000 ounces based on the information provided by Western Sierra Management," stated Jim Renfro, the company's president.
Mr. Renfro continued, "With the purchase of these assets, we anticipate VHGI Gold can move toward full production within the next 90 days. And with the price of gold above 1,000.00 per ounce today, we believe VHGI Gold will be attractive to additional Joint Venture mining partners who can assist us in getting the ore out of the ground."
For more information please visit the company's website at http://www.vhgigold.com , or call shareholder relations at 561-515-6035.
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals Markets. 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. Investors are invited to obtain information concerning our operations at or http://www.vhgigold.com or by calling shareholder relations at 561-515-6035.
