Private placement 10 million units - $2,800,000 announced



    /NOT FOR RELEASE OR DISTRIBUTION IN THE USA./

    TSX Venture Exchange: PMV
    US PMVGF.PK
    Frankfurt: AOJMW7
    Issued & Outstanding: 77,711,311
    Fully Diluted: 103,000,999

    VANCOUVER, Nov. 27 /CNW/ - PMI Gold Corporation (TSX.V:PMV) - Douglas
MacQuarrie, President, announces a non-brokered private placement to exempt
investors of up to 10,000,000 units at a price of $0.28 per unit to raise up
to $2,800,000.
    Each unit consists of one share and one half share purchase warrant at a
price of $0.375 if exercised within the first year and at a price of $0.45 if
exercised in the second year. Finders' fees will be payable.
    Funds raised from this private placement will be used to fund engineering
studies to advance the Company's Kubi and Obotan gold projects in Ghana and
for general working capital.

    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. We Seek Safe Harbour.




For further information:

For further information: Douglas R. MacQuarrie, President & CEO,
Telephone: (604) 682-8089, Toll-Free: (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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PMI Gold Corporation

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