PMI Gold Corporation

PMI Gold Corporation

March 24, 2006 16:00 ET

PMI Ventures Ltd.: Private Placement Financing Closes; Additional Financing Announced

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 24, 2006) - PMI Ventures Ltd. (the "Company") (TSX VENTURE:PMV) (FWB/BERLIN: WKN 888063) announces that further to the Company's news release dated January 23, 2006, the Company has received TSX Venture Exchange approval to a private placement whereby the Company raised $573,750. The Company has issued 2,295,000 units at a price of $0.25 per unit (the "Units"). Each Unit is comprised of one common share and one-half share purchase warrant exercisable until March 20, 2008 at a price of $0.35 per share. The Units have a four month hold period expiring July 21, 2006. A total of $30,625.00 was paid as finder's fees.

In addition, the Company announces a private placement to an exempt investor consisting of 4 million units at a price of $0.25 per unit to raise $1 million dollars. Each unit consists of one share and one share purchase warrant at a price of C$0.35 for a term of 2 years, subject to regulatory approval.

Funds raised from this placement will be used for an expanded drilling campaign on the Company's Ghana gold 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: 43,316,353

Fully Diluted: 62,245,024

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

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