PMI Gold Corporation

PMI Gold Corporation

November 14, 2005 19:34 ET

PMI Ventures Ltd.: Ashanti II Project; Gemap Concession-IP Survey-Old Kukunapi Mine Area

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2005) - PMI Ventures Ltd. (the "Company") (TSX VENTURE:PMV) (Frankfurt/Berlin WKN 888063) is pleased to report that the IP (Induced Polarisation) survey on its Gemap concession, in the vicinity of the old Kukunapi mine, has identified several new and significant anomalies. The anomalies are of considerable interest as previous drill tests in their vicinity yielded strong gold mineralization in company drilling in 2003 and 2004 as well as in drill holes completed by Nevsun Resources in 1998. This section of the 14km long main survey grid is 3km wide and covers a distance from 500m south east of Kukunapi to over 1500m to the north east.

Two strong NE trending linear IP anomalies, each measuring in excess of two kilometres long and between 100m to 200m in width have been outlined. In the immediate vicinity of the Kukunapi showings (visible gold and sulfide mineralization in quartz from a NE trending series of old pits and shafts), the anomaly shifts to a strong EW orientation, parallel to the SRK confirmed auriferous D4/D5 cross structures and increasing quartz contents in drillholes. Additionally, a further large anomaly (approx. 800m by 400m) has also been identified near the northern contact of the Juabo granite, some 1200m north/north west of Kukunapi in an area with strong multi-element ICP geochemistry and elevated resistivities suggesting possible silicification.

Best results from the previous Kukunapi area drill holes, most of which were drilled to depths of approximately 30m to 70m, range to 4m @ 6.88g/t Au; 4m @ 3.66g/t Au near Kukunapi; 20m @ 1.03g/t Au; and 1m @ 9.2g/t Au mid way through the anomaly, to 4m @ 16.0g/t Au and 8m @ 1.2g/t Au in the north eastern section of the surveyed area. The correlation of these existing drill results with the strong IP trends (potential sulphides at depth) provide company personnel with additional confidence in locating future drill targets in this area. On completion of further financing, a program of detailed target evaluation, including RC and or diamond drilling is planned.

Douglas R. MacQuarrie, President, P.Geo., a qualified person under National Instrument 43-101 prepared this news release. Additional maps and data will be posted as available on our web site or in Company newsletters.

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: 35,941,967

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

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