PMI Gold Corporation - Devitor bond/bridge loan extension



    
    /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO
    U.S. NEWS AGENCIES/

    TSX Venture Exchange: PMV
    US PMVGF.PK
    Frankfurt: AOJMW7
    Issued & Outstanding: 84,749,736
    Fully Diluted: 119,908,070
    

    VANCOUVER, Oct. 7 /CNW/ - PMI Gold Corporation (TSX.V:PMV) - David M.
Buckle, Chairman, reports that given the current uncertain capital markets,
and on the advice of its Corporate Finance advisors, Devitor AB of Sweden, the
Company has decided to postpone its bond offering at this time pending a
return to more stable market conditions.
    Trafalgar Capital Specialized Investment Fund, FIS has granted a 30 day
extension to its 90 day bridge loan advanced on 8 July 2008 by payment of an
extension fee.

    PMI Gold controls four previous operating gold mines on 746 square
kilometres of leases and concessions located along the prolific Ashanti and
Asankrangwa gold belts. Ghana is Africa's second largest gold producer and has
attracted over $7 billion in foreign direct investment into the minerals and
mining sector over the last decade. Ghana is a destination of choice because
of its long gold mining history, prospective resource base, reasonable
taxation and stable government.

    
    On behalf of the Board,
    "David M. Buckle"
    Executive Chairman

    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. We Seek Safe Harbour.

    %SEDAR: 00005434E




For further information:

For further information: Douglas MacQuarrie, Executive Director,
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

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