| ||Mon Nov 23, 2009|
Obotan Resource Verification Drilling Started
| ||News Release # 09-29|
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
November 23, 2009 - Vancouver BC - PMI Gold Corporation (TSX.V:PMV) -- the Company is pleased to announce that a 2,800 metre, 28 hole diamond drilling program has started on our Obotan area concessions in Ghana.
The object of the program, designed by Hellman & Schofield, Engineers of Perth, is to generally confirm the extensive previous drilling data base and allow for the preparation of an initial NI 43-101 mineral resource estimate of any remaining, potentially direct shippable, surface gold resources. Drilling will occur on the Abore, Adubiaso, African Star and Edubia targets.
Previous surface mining occurred at the Abore and Adubiaso pits prior to December 2002; however neither African Star or Edubia have had previous large scale mining. All of these areas are currently the subject of local, small scale miner operations.
The drilling program is expected to be completed by the end of January, 2010, when final results will be made available.
On behalf of the Board,
"Douglas R. MacQuarrie"
President & CEO
For further information please contact:
Douglas MacQuarrie, President & CEO
Telephone: 1 (604) 682-8089 Toll-Free: 1 (888) 682-8089 Facsimile: 1 (604) 682-8094
or for European Investors: Florian Riedl-Riedenstein: Tel: 43-2774-28814, e-mail: email@example.com
Or visit the PMI Gold Corporation website at www.pmigoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. We Seek Safe Harbour.
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