PMI Gold Corporation

PMI Gold Corporation

March 24, 2006 19:06 ET

PMI Ventures Ltd.: Private Placement Oversubscription

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 24, 2006) - PMI Ventures Ltd. (the "Company") (TSX VENTURE:PMV) (FWB/BERLIN: WKN 888063) announces that the private placement unit offering to exempt investors of up to $700,000 announced on March 10, 2006, has been oversubscribed. Subscriptions for up to $900,000 have been received and accepted, subject to final 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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