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OTCBB-VHGI Updates Shareholders on Status of Healthcare Asset Sale and Treasure Gulch Gold Mine Development Strategy
Date:11/6/2009

property) estimates Proven and Probable Gold Reserves in excess of $35,000,000.00 using a valuation of $800.00 per ounce.

With respect to the further development of the mine, VHGI is reviewing a developmental proposal with the intent of maximizing initial outcomes while limiting the financial commitment. The plan calls for surface ore deposits to be sent to an analytical laboratory to determine the best possible gold extraction methodology, as well as a short-term structure sampling program to determine the value of the subterranean holdings as to the possible quantity and grade of Gold Bearing Ore that could be extracted. According to the proposal, the existing tunnels and surface cuts would suffice to provide the ore body.

Both of these options could potentially produce first gold in 30 to 60 days on a laboratory scale. Based on the outcome of that effort, a small pre-production extraction plant could be used to test the economics and provide certification for a final mining plan. While smaller production efforts could possibly support a profit orientated enterprise, the real commercial value of the Treasure Gulch Mine could potentially be found in the development of the ore reserves at depth and on strike.

Additionally, the completion of this sale will allow the company to realize cash to pursue other opportunities, including those within the Gold Mining, Precious Metals and Energy Resources Markets. Although Gold is selling at 25 year high prices and Oil & Gas continue to be trading at significant premiums, global economic events have created significant opportunities within these markets. VHGI intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures for the goal of enhanced shareholder value. VHGI plans to release developments concerning the staffing of the Precious Metals / Energy Resources Markets Division to help evaluate the project shortly.

For VHGI Shar
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SOURCE VirtualHealth Technologies, Inc.
Copyright©2009 PR Newswire.
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