Drilling program commences at Obotan - Bankame silt survey results - Geotech VTEM survey contracted

    /NOT FOR RELEASE OR DISTRIBUTION IN THE USA/

    TSX Venture Exchange: PMV
    US PMVGF.PK
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    VANCOUVER, May 28 /CNW/ - PMI Gold Corporation (TSX/V:PMV) - Douglas
MacQuarrie, President, announces that a US$500,000 drill program has commenced
on one of the Company's recently acquired gold mines in Ghana. The first hole
is collared on the west side of the Nkran pit on section 210000N and will test
the West Lode target at a depth of 330 metres below the base of the pit
(420 metres below surface). Several other potential targets located between
the collar and the West Lode have been outlined by geophysical surveys and
will also be tested with this first drill hole. Previous drilling indicates
that the Western Lode is near vertical, varies from 10 to +40 metres in width,
and grades from 4.0 to +6.0 g/t Au. A previous metallurgical test indicated
potential +95% gold recoveries and +30% higher grades than indicated from the
exploration drilling. This upgrade is typical in deposits with free, coarse
gold like Nkran where small 50g fire assays on 1metre core samples tend to
underestimate the gold content.
    Other targets in the immediate vicinity of the Nkran pit will also be
targeted with this program - including deeper tests of the southern extensions
of the East Lode and the West Lode to depth; newly outlined geophysical
targets on the SW side of the Nkran pit; and geochemical and geophysical
targets located 700 to 1000 metres NW of the pit. In addition, several fences
of RC drilling are planned on the Switchback North concession - located
7 kilometres west of Nkran, to further outline gold mineralization in previous
trenching and drilling, and to test newly outlined EM conductors and their
extensions.
    PMI Gold has also contracted with Geotech Airborne Limited to carry out a
327 line kilometre VTEM geophysical survey centred on the Nkran pit area. The
primary purpose of the survey will be to map auriferous graphitic shears to a
depth of +250 metres below the surface of the Nkran pit with a tight 50 m
flight line spacing. Any targets outlined by the system but not currently
drill tested will be targeted by a follow up drill program. Since it is a
helicopter system, the slow survey speed and low terrain clearance allows the
system to define "drill-ready" targets without the necessity of costly and
time consuming follow up ground geophysical surveys. The survey will be flown
in conjunction with a number of other surveys in Ghana in mid-summer 2007.
    In addition, regional geochemical silt and BLEG sample results have been
received from our Bankame concession option located on the Ashanti Gold belt.
A total of 64 samples were taken from dry stream beds with a sample spacing of
between 500 and 1,000 metres. Two clusters of anomalous high gold in silts
were obtained one in the far north and the other in the SW part of the
concession. Fourteen samples were anomalous, with values ranging from 43 to
1,427 ppb gold. These areas are underlain by favourable Tarkwaiian and
Birimian sediments and or granite. A follow up program to locate the source of
the anomalous gold geochemistry will commence shortly.
    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

    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.

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