PMI Ventures Ltd. (the “Company”) [TSX Venture: PMV], is pleased to announce that it has completed the buyout of the Gemap Concession, one of eight concessions that comprise its Ashanti II Gold Project located along the axis of the Asankrangwa Gold Belt in southwestern Ghana.

Transfer of the entire interest of Nevsun Resources (Ghana) Limited in the concession was completed in the name of Adansi Gold Company (Gh) Ltd., subject to previously outlined underlying agreements, the 100% owned Ghanaian registered subsidiary of the Company. All necessary governmental approvals have been obtained and the transfer has been completed. Total consideration paid by the Company was US$50,000.

The Ashanti II Gold Project covers an area of 400 square kilometres situated along the axis of the Asankrangwa Gold Belt, ten kilometres southwest of the Obotan Mine. Drilling has confirmed the presence of both open cut grade (>1.5 g/t Au) and underground grade (>8 g/t Au) gold mineralization over significant widths and in widely spaced targets located along the 40 kilometre length of the concessions. Further drilling to test recently outlined 3DIP anomalies is expected to commence by the end of June.

On behalf of the Board,

"Douglas R. MacQuarrie"

Douglas R. MacQuarrie
President

For more information please contact:

Douglas R. MacQuarrie, President, or Warwick G. Smith & Larry Myles, Shareholder Communications
Telephone:(604)682-8089    Toll-Free:(888)682-8089    Facsimile:(604)682-8094

Or visit the PMI Ventures Ltd. website at www.pmiventures.com and Goknet Mining Company website at www.goknet.net

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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.