TORONTO, ONTARIO--(Marketwire - Oct. 15, 2012) - Venga Aerospace Systems Inc. (TSX VENTURE:VAV)(PINKSHEETS:VNGAF) (the "Company") announced that Venga's mining affiliate, Global Mineral Investments, LLC ("GMI") and Tawana Resources NL (ASX:TAW) have agreed to extend the option period within which Tawana has to finalize its purchase of GMI's Liberian mining concessions from the originally extended date of September 28th 2012 to December 31, 2012. "This further extension will provide the parties time to hopefully reverse the Liberian Ministry of Lands, Mines and Energy's recent administrative decision to revoked GMI's exploration licence for our mining concessions," stated GMI's president, Jon O'Regan.

About GMI - Global Mineral Investments LLC is a U.S. based private corporation that has acquired and is developing gold concessions in Sinoe County, Liberia.

About Tawana - Tawana Resources NL ([ www.tawana.com.au ]) is a public company listed on the Australian Exchange with its registered office located in Perth, Australia. Tawana is actively exploring for gold and base metals in Liberia and continues to review additional opportunities in Liberia and West Africa as part of its ongoing growth strategy.

About Venga - Venga Aerospace System Inc. is a Canadian public company that is currently listed on the TSX Venture Exchange. Venga operates or has an investment in three business units: aerospace; 3D graphics and gold mining in West Africa. Venga has a 20% equity interest in GMI.

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.

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