/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/
|TSX Venture Exchange: PMV|
|Australian Securities Exchange: PVM|
VANCOUVER, March 12, 2012 /CNW/ - PMI Gold Corporation (TSX-V: PMV) (ASX: PVM) (the "Company") is pleased to update the market that Mr. Michael Gloyne commenced as its Chief Operating Officer of the Company, further strengthening its management team as it moves towards development of its flagship Obotan Gold Project in Ghana, West Africa. Mr. Gloyne is a mining engineer with over 25 years' experience in developing mining projects, from Bankable Feasibility Study, design and development through to production.
Pursuant to the agreement appointing Mr Gloyne, the Board has approved the issue of Company stock options based on the following terms:
- 2,000,000 stock options at an exercise price of C$1.95 per share, exercisable in whole or in part on or before March 11, 2016.
- Vesting in increments over the term of the Options upon achievement of certain milestones.
- The options are issued pursuant to the terms and conditions of the Company's Stock Option Plan.
On behalf of the Board,
Managing Director & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Investor Relations Canada:
Rebecca Greco, Fig House Communications
P. +1 (416) 822-6483
PMI Contact Canada:
Marion McGrath, Corporate Secretary
P. +1 (604) 684-6264
Toll-Free: 1 (888) 682-8089
Investor Relations Australia:
Nicholas Read/Paul Armstrong, Read Corporate
P. +61 8 9388 1471
M. +61 419 929 046
PMI Contact Australia:
Collin Ellison, Managing Director & CEO
P. +61 8 6188 7900
or visit the PMI Gold Corporation website at www.pmigoldcorp.com