PMI Gold Corporation

PMI Gold Corporation

March 14, 2005 17:16 ET

PMI Ventures Ltd. Announces $2,000,000 Non-Brokered Private Placement, Appointment of Corporate Secretary, Grant of Stock Options


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PMI VENTURES LTD.

TSX VENTURE SYMBOL: PMV

MARCH 14, 2005 - 17:16 ET

PMI Ventures Ltd. Announces $2,000,000 Non-Brokered
Private Placement, Appointment of Corporate Secretary,
Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 14, 2005) - PMI
Ventures Ltd. (the "Company") (TSX VENTURE:PMV), is pleased to announce
a non-brokered private placement of up to 8,000,000 Units of the Company
at a price of $0.25 per Unit to raise gross proceeds of up to
$2,000,000. Each Unit will consist of one common share and one half of a
share purchase warrant, each full share purchase warrant entitling the
holder to acquire one additional common share of the Company for a
period of one year at a price of $0.40 per share. Funds raised will be
used for continued exploration of the eight concessions operated by the
Company and located along the Asankrangwa gold belt of southwest Ghana,
and for general working capital.

This placement is subject to acceptance by regulatory authorities. The
shares issued under the private placement will be subject to a
four-month hold period from the date of TSX Venture Exchange approval.

The Company also announces the appointment of Dianne Szigety as
Corporate Secretary. The Company has granted incentive stock options,
subject to regulatory approval, to Miss Szigety, and to a consultant, to
each purchase 100,000 common shares of the Company, both at a price of
$0.25 per share, for a period of five years expiring on March 9, 2010.

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: 30,816,967

Fully Diluted: 39,725,717

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    PMI Ventures Ltd.
    Douglas R. MacQuarrie
    President
    (604) 682-8089 or Toll Free: (888) 682-8089
    or
    PMI Ventures Ltd.
    Larry Myles
    Shareholder Communications
    (604) 682-8089 or Toll Free: (888) 682-8089
    (604) 682-8094 (FAX)
    www.pmiventures.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.