PMI Ventures Ltd. (the "Company") [TSX Venture:PMV], is pleased to announce further results of its initial drill program on the package of exploration concessions and applications covering an area of some 400 sq km along a length of 50 km of the axis of the Asankrangwa Gold Belt in southwestern Ghana.

In total eight drill holes were completed in this initial program.

Four drill holes were completed in the Fromenda Grid "B" area in the north east portion of the exploration area and a further four holes were completed in the Kukunapi area that is located some 20 kilometres to the southwest.

Significant assay results received from the drilling in the Fromenda Grid "B" area are shown below.

This initial drilling at the Fromenda Grid "B" area has demonstrated that the shear structure that hosts the gold mineralization is approximately 25 metres (83 feet) in true width with grades of up to 3.59 g/t over a true width of 17.0 metres (56 feet). Further drilling is planned to test the rake of the mineralised zone more completely.

In the Kukunapi area, four drill holes were completed of which results have now been received for the first two drill holes as shown below.

The initial drilling at Kukunapi is regarded by the Company as successful since it has demonstrated the existence of the mineralized structures grading up to 4.67 g/t Au over a width of 5.97 metres (19.59 feet).

The Company is pleased with the results to date of its first drill program since potentially economic gold mineralized zones have been identified to date at both the Fromenda Grid "B" area and at Kukunapi over significant widths

Much of Ghana's gold production is from very large low-grade gold deposits such as those of Newmont, 115,000,000 tons at 1.82 g/t, and at Consolidated Goldfields of South Africa, 168,400,000 at 1.66 g/tons.

Further results are expected in the next two to three weeks. Douglas R. MacQuarrie, P.Geo. (B.C.), the VP of Exploration for the Company and Goknet Mining Company Limited, supervised and directed all work associated with the drilling program. All sample analyses were conducted at SGS Laboratory Services Ghana Limited in Tarkwa, utilizing industry standard 50g fire assay and screened metallics fire assay techniques, with atomic absorption finish.

PMI has an option to earn up to 85% of the interest that Goknet Mining Company Limited, a privately-held Ghanaian mineral exploration company, holds in these exploration concessions and applications. Goknets' interests vary from 85% to 100%, subject to a 10% non-participating interest in favour of the Government of Ghana.

Further drilling is planned to test both the strike extent of these mineralized zones and the extension of the mineralized zones to depth.

On behalf of the Board,

“Arthur T. Fisher”

Arthur T. Fisher
President

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