Private placement CAN$1,000,000 closed



    
    /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

    Private investor increases shareholding
    

    VANCOUVER, Sept. 3 /CNW/ - PMI Gold Corporation (TSX.V:PMV) - Announces
that PMI Gold Corporation ("PMI Gold") has closed the non-brokered private
placement of 5,000,000 units at a price of $0.20 per unit, announced on
August 11, 2008. Each unit consists of one share and one share purchase
warrant at a price of $0.30 for a period of two years. The units have a
four-month hold period expiring December 29, 2008.
    Arlyn James Miller of Denver, Colorado, acquired an additional 2,500,000
units pursuant to the private placement. As a result, Mr. Miller now owns and
controls 12,295,700 common shares representing 14.51% of the issued and
outstanding shares of PMI Gold. In addition, PMI Gold insiders, employees and
consultants purchased a total of 1,650,000 units.
    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"
    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.





For further information:

For further information: Douglas MacQuarrie, 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

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PMI Gold Corporation

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