Golder Associates to commence Kubi Gold Project review



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

    VANCOUVER, Dec. 3 /CNW/ - PMI Gold Corporation (TSX.V:PMV) - Douglas
MacQuarrie, President, announces that Golder Associates Ltd. have been
commissioned to commence the initial assessment phase of the Kubi Gold
Project, Ghana, to include: establishing a project management plan and
milestones; a review of the environmental and socio-economic aspects;
geological model evaluation - to include a focus on the indicated high grade
core of the already defined N.I.43-101 compliant 604,000 oz Au Kubi resource
estimate; a review of the alternative mining and processing options;
infrastructure; mine closure and financial sensitivity; and preliminary
economic analysis. The work will also include the preparation of a N.I.43-101
compliant resource estimate for gold mineralization under the Nkran pit at
Obotan, and will define the parameters for subsequent pre-feasibility and
final definitive feasibility studies.

    Golder with 150 offices worldwide and over 6,000 employees, have provided
engineering and environmental services to the mining industry for over
40 years. Golder have developed a team of engineers focused on bringing small
underground operations to profitable production, and then growing them to mid
tier producers with retained earnings. This model minimizes the amount of
capital required to reach production and therefore minimizes financing
charges, bank hedging, and equity dilution. This team will be the lead
engineers for the project.

    On behalf of the Board,

    "Douglas R. MacQuarrie"

    Douglas R. MacQuarrie
    President & CEO

    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. We Seek Safe
    Harbour.

    %SEDAR: 00005434E




For further information:

For further information: Douglas R. MacQuarrie, President & CEO,
Telephone: (604) 682-8089, Toll-Free: 1-888-682-8089, Facsimile: (604)
682-8094 or for European Investors: Florian Riedl-Riedenstein: Tel:
43-2774-28814, e-mail: frram@aon.at or John Mullen: Tel: 41-522-428795,
e-mail: John Mullen@bluewin.ch; Or visit the PMI Gold Corporation website at
www.pmigoldcorp.com (in German: http://pmi.goldseiten.de)

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