PMI Gold Corporation

PMI Gold Corporation

January 23, 2006 14:05 ET

PMI Ventures Ltd.: $2 Million Private Placement Announced

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 23, 2006) - PMI Ventures Ltd. (the "Company") (TSX VENTURE:PMV) (Frankfurt/Berlin WKN 888063) announces a best efforts private placement to exempt investors of up to 8 million units at a price of $0.25 per unit to raise up to $2 million dollars.

Each unit consists of one share and one half of a share purchase warrant at a price of C$0.35 for a term of 2 years, with a forced conversion of the warrant if at any time after four months from the closing the common shares of the Corporation trade at greater than $0.50 for 20 consecutive trading days. Finder's fees may be payable on all or a portion of the placement pursuant to the Exchange policies.

Funds raised from this placement will be used for an aggressive drilling campaign on the Company's Ghana projects, and for general working capital.

On behalf of the Board,

Douglas R. MacQuarrie, President

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.

Issued & Outstanding: 39,771,353

Fully Diluted: 59,244,810

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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