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2010
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We continue to explore Kubi to find new high grade ore shoots to add to the already defined 604,085 ounce indicated gold resource at the Kubi Main zone which was the subject of a NI 43-101 assessment by Golder Associates Ltd.
At the Nkran deposit at Obotan, drilling has confirmed the presence of magnetic pyrite which is intimately associated with gold mineralization. This suggests that magnetic susceptibility high anomalies at the intersection of favourable structural breaks may represent yet undiscovered gold mineralization and will be high priority exploration targets.
Douglas MacQuarrie,
President & CEO
August 2010
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| | Wed Apr 7, 2010
PMI Gold Announces Closing Of Private Placement
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| | THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
April 7, 2010 - Vancouver BC - PMI Gold Corporation (TSX.V:PMV): Further to the Company's news release dated April 1, 2010, the Company is pleased to announce it has received TSX Venture Exchange approval for and closed its private placements of 17,336,398 common shares, at a price of $0.15 per share, and 33,333,333 common shares, at a price of $0.14 per share, to raise aggregate proceeds of $7,267,127.
All of the shares are subject to a hold period and may not be traded in Canada until August 6, 2010, except as permitted by applicable Canadian securities laws and the TSX Venture Exchange.
The Company has been advised that Macquarie Bank Limited, of Level 1, No. 1 Martin Place, Sydney, New South Wales, 2000, Australia, has acquired 33,333,333 common shares of the Company. The shares were purchased for investment purposes. After giving effect to the acquisition referred to above, Macquarie Bank Limited beneficially owns 33,333,333 common shares, representing 13.4% of the issued and outstanding common shares of the company on a partially diluted basis.
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: frram@aon.at
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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| | You can view the Next News Releases item: Thu May 6, 2010, Drilling Re-Commences at Obotan Gold Project Ghana; High Resolution Airborne Survey Commissioned
You can view the Previous News Releases item: Thu Apr 1, 2010, Notice Of Amended Terms Re: $7.5 Million Private Placement
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