News Release # 07-07

April 11, 2007, Vancouver BC - PMI Gold Corporation (TSX/V:PMV) -- Douglas MacQuarrie, President, announces that PMI Gold Corporation ("PMI Gold") has closed the private placement of 6,150,000 units at a price of $0.28 per unit, 150,000 units more than was announced on March 14, 2007.

Each unit consists of one share and one share purchase warrant at a price of $0.375 if exercised before March 28, 2008, and at a price of $0.45 if exercised in the second year until March 28, 2009. The Units have a four-month hold period expiring July 30, 2007. A total of 6,150,000 shares have now been issued to raise $1,603,000. A total of $119,000 were paid in finder's fees.

PMI Gold is currently sourcing a drill contractor to commence a US$500,000 drill program to test: 1. down dip extensions of the gold mineralization previously outlined under the Nkran pit on our Obotan mine project; 2. new geophysical targets outlined on the southwest side of the Nkran pit; 3. untested gold geochemical anomalies located 750 metres northwest of the Nkran pit; 4. down dip extensions to the mineralization previously outlined at the African Star deposit -- located 4.5 kilometres northeast of the Nkran pit; and 5. gold mineralization outlined by previous trenching and drilling and newly outlined co-incident EM conductors and their extensions on the Switchback North concession -- located 7 kilometres west of Nkran.

In addition, regional geochemical silt and BLEG sampling has commenced on our new Bankame concession option, adjoining to the north of our Ofoase option, Ashanti Gold Belt, with results expected in the next few weeks.

Ghana is Africa's second largest gold producer and has recently attracted US$1.5 billion in committed foreign investment due to its long mining history, prospective resource base, reasonable taxation and stable government. PMI Gold now controls 470 square kilometres along a 70 kilometre length of the Asankrangwa Gold Belt in 11 concessions, including the former Obotan mine which produced 730,000 ounces of gold prior to its closing in 2003; and a further 186 square kilometres in 2 concessions on the Ashanti Gold Belt.

This news release has been prepared by Douglas R. MacQuarrie, P.Geo.(B.C.), a Qualified Person under National Instrument 43-101.

On behalf of the Board,

"Douglas R. MacQuarrie"

Douglas R. MacQuarrie
President & CEO

For further information please contact:

Douglas R. MacQuarrie, President & CEO
Malcolm Ashford, Vice President, Corporate Communications [mobile 1 (604) 765-4775]
Telephone: 1 (604) 682-8089 Toll-Free: 1 (888) 682-8089 Facsimile: 1 (604) 682-8094
Or visit the PMI Gold Corporation website at www.pmigoldcorp.com
or in German: http://pmi.goldseiten.de

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

NOT FOR RELEASE OR DISTRIBUTION IN THE USA.

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.