PMI Ventures Ltd. (the "Company") [TSX Venture: PMV], is pleased to announce the appointment of Mr. Peter Hooper, (B.Sc. Mining Engineering) of Toronto, Ontario as a director, effective May 30, 2005. Mr. Hooper is a senior mining executive with broad-based experience in production, engineering, reorganization, merchant banking, contracting, exploration and corporate affairs. He holds a mine manager's certificate for South Africa and Ghana and has extensive experience in operations in both surface and underground gold, uranium, platinum, antimony, zinc and copper mines. His management responsibilities have included Manager Mining Rustenberg Platinum Mines, General Manager at the Ruttan Copper Mine in Manitoba, General Mines Manager of Prestea Gold Mines Ltd. in Ghana and President of Dynatec Engineering Ltd. in Canada. While he has worked for many years as a consulting mining engineer in some twenty countries around the world, his most recent corporate role was as Managing Director, Mineral Resources for Kingsdale Capital Corporation of Toronto and is currently Chief Operating Officer of Afcan Mining Corporation.

RESIGNATION OF MR. BRUNO MOSIMANN

The Company announces with regret, the resignation of our Switzerland based director, Mr. Bruno Mosimann, due to a change in his current business commitments. His resignation as a director of the Company is effective June 3, 2005. The management team and his fellow directors extend their thanks to Mr. Mosimann for his excellent contribution and sound corporate advice during the Company's extensive restructuring over the past twelve months.

AMENDMENT TO EXERCISE PRICE OF SHARE PURCHASE WARRANTS

Subject to regulatory approval, the Company has approved the re-pricing of 4,444,444 one-half share purchase warrants originally issued on August 22, 2003, from a current exercise price of $1.00 per share to a new exercise price of $0.56 per share, for the remaining term of the warrants.

The Board has also approved the re-pricing of 1,090,386 one-half share purchase warrants originally issued August 28, 2003, from a current exercise price of $1.00 per share to a new exercise price of $0.64 per share, for the remaining term of the warrants.

The new exercise prices reflect the closing market price of the Company's shares on August 22, 2003 and August 28, 2003 respectively. All of these share purchase warrants expire on October 16, 2005.

On behalf of the Board,

"Pearce M. Bowman"
Executive Chairman