/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO
U.S. NEWS AGENCIES/
TSX Venture Exchange: PMV
Issued & Outstanding: 84,749,736
Fully Diluted: 119,908,070
VANCOUVER, Sept. 15 /CNW/ - PMI Gold Corporation (TSX.V:PMV) - David M.
Buckle, Executive Chairman, announces the following restructuring of the Board
as the Company advances our Kubi Gold Project in Ghana to production: Peter
Hooper, Director, as the new President and CEO, and Douglas R. MacQuarrie, as
Executive Director of New Business & Exploration.
David Buckle, Executive Chairman stated, "I am delighted that we are able
to strengthen our Board by the addition of a President and CEO who has a
successful track record in managing and commissioning mines in varied and
challenging environments, most recently with Afcan Mining Corp. in China,
which will greatly assist the Company with the challenges of building its
first mine. In addition, retaining Douglas MacQuarrie in his new position
draws on his considerable strengths in exploration and the identification and
acquisition of assets that fit our criteria for development. We intend to
ensure that the budgets in this area meet the needs of the business and allow
us to rapidly establish the potential of our tenements."
The Company also announces, subject to regulatory approval, five year
incentive stock options expiring on September 14, 2013, to purchase a total of
100,000 common shares of the Company, at a price of $0.30 per share to a
PMI Gold is continuing to advance its Kubi Gold Project in Ghana towards
production, and controls four previous operating gold mines on 712 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"
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.
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: firstname.lastname@example.org; or John Mullen: Tel: 41-522-428795,
e-mail: John Mullen@bluewin.ch, Or visit the PMI Gold Corporation website at