PHI Group, Inc. (OTCBB: PHIE) (FRANKFURT: PR7) (XETRA: PR7) announced today that its subsidiary PHI Mining Group, Inc., a mining and exploration enterprise focused on acquiring and developing gold, silver, copper and industrial mineral properties, has acquired all the issued and outstanding stock of Maisy Mae Mining, Inc., a New Brunswick corporation with a placer mining business in the Yukon Territory, Canada on a mine known as the Maisy Mae Creek mine. The purchase was made in exchange for cash and marketable securities.

The Maisy Mae Creek gold mine is a producing mine consisting of 135 placer claims, located in the Dawson Creek Mining District, one of the richest gold bearing areas of the Yukon Territory, Canada. The claims are 2,000 feet wide x 500 feet long; however only a 400 feet wide cut up the center of 22.8 claims has been mined. There are 112.2 claims that have not been mined, with additional claims available.

Based on trench sample testing up and down the creek, the gold values run very consistent (about 0.028 ounces Au per cubic yard). A draft NI 43-101 report has shown in-ground proven and probable reserves of 672,833 ounces. The mine has already generated revenues and is currently fully outfitted with equipment and housing to resume operations at the beginning of the next mining season. There is sufficient water supply in the creek to sustain at least four 200 cubic yard per hour machines.

Maisy Mae Creek will serve as a platform for additional acquisitions in the near future. Assuming gold value of $1,200 per ounce and projected volume extracted annually at 28,512 ounces, the projected annual extracted value will be $34,214,400 and the cumulative production value for years 2011-2021 will be $225,363,390.

As of December 2, 2010, PHI Mining Group has 200 million authorized shares, of which 22,424,628 shares are issued and outstanding and 1,428,286 are free trading.

Daniel St. John, corporate strategist of PHI Group, Inc., stated: "The closing of the Maisy Mae Creek acquisition provides us with a producing platform to create substantial value for our shareholders and related stakeholders. We are also in discussions for additional acquisitions and look forward to updating our shareholders and investors with new developments in the coming weeks."

About PHI Mining Group PHI Mining Group is a U.S.-based mining and exploration enterprise focused on acquiring and developing gold, silver, copper and industrial mineral properties. The Company owns Maisy Mae Creek Gold Mine, a producing mine located in the Dawson Creek Mining District, one of the richest gold bearing areas of the Yukon Territory, Canada. Through its wholly owned subsidiary Indochina Mining Corporation, the company has also signed agreements with several partners in South East Asia to engage in mining of industrial mineral properties. PHI Mining Group is committed to high standards in the areas of environmental management and health and safety for its employees and neighboring communities. Web site: www.phimining.com.

About PHIGroup, Inc. PHIGroup (OTCBB: PHIE) provides M&A advisory and consulting services, develops real estate and natural resources and invests in special situations. PHIGroup, which specializes in raising capital and helping take companies public, is developing PHILand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com). PHIGroup is also engaged in mining activities through its majority-owned subsidiary PHI Mining Group, Inc. (www.phimining.com). Website: www.phiglobal.com.

Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Contact: Daniel St. John Tel: +1-714-843-5453 Email: daniel.stjohn@phiglobal.com