Next Step - Production
-----March 2012: Company Completes C$35 Million Public Offering of Common Shares -----Jan 2012: Independent NI43-101 compliant Pre-Feasibility Study re Obotan -----Definitive Feasibility Study targeted for completion by June 2012.
PMI Gold Corporation is an international gold company which is exploring and developing three emerging mining centres in Ghana, West Africa in the heart of one of the world's most prolific gold producing regions.

In April 2012 PMI confirmed the resource inventory of its independent NI43-101 compliant resource inventory at its Obotan Gold Project:

The NI43-101/JORC compliant Mineral Resource estimate to used as a basis for the upcoming Feasibility Study, at a 0.5g/t gold cut-off, is shown below:

Mineral Resource
(inclusive of Mineral Reserves)

Tonnes
(millions)

Average Grade
(g/t Au)

Gold Contained
('000 ozs)

Measured

15.57

2.47

1.23

Indicated

29.21

2.00

1.88

Subtotal M+I

44.78

2.16

3.11

Inferred

21.91

1.99

1.40



The Feasibility Study targeted for completion mid 2012 remains on track, with a development decision scheduled for Q3, 2012, commissioning slated for late 2013 and full gold production in calendar 2014.

PMI has a second advanced project at Kubi where a mining lease is in place. A recently completed 10,000m auger drilling program has delineated several east-northeast corridors containing numerous priority gold targets within the world-class Ashanti Shear. A deep drilling program will commence in Q1, 2012.

PMI Gold will be implementing a vigorous and sustained regional gold exploration program in south-west Ghana, which commenced in the first Quarter of 2012. A 100,000m drill program will be directed at Obotan, Kubi and our third proposed mining centre, the Asanko Regional Exploration Project, located to the south and along strike from Obotan. Combined, these represent the largest strategic ground package to have been successfully consolidated by a single company in the Asankrangwa Belt. Since the late 1990s and early 2000s this belt has only undergone limited/superficial exploration in confined areas.

PMI Gold has been acquiring land and exploring for gold in Ghana for 7 years. Our focus is now bringing our projects to near term production. We control 9 concessions at Obotan and Asanko and two mining leases and two concessions at Kubi covering 530 sq km - in the heart of Ghana's major gold belts. Our holdings on the Asankrangwa gold belt alone are more than 70 km long - the equivalent length of the entire Carlin Trend in Nevada - and cover 3 past producing large scale mines and dozens of small historical operations.



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