---New Kubi Concessions Granted---PMI Gold completes Kubi Buyout - Arranges $3.5 Million Secured Loan---Golder Associates delivers Positive Pre-Assessment Report on Kubi---Geotech VTEM survey outlines new drill targets at Obotan --- January 31: President MacQuarrie talks to Al Korelin at Cambridge House Investment Show --PMI Gold Options Bankame and Ofoase Concessions to Golden Lion -- New Powerpoint Available...see link below -- Fundamental Research Initiates Coverage on PMI Gold --Click here to contact Fundamental Research-- PMI announces 44.5 m grading 2.61 g/t GOLD at Nkran ... all drill holes now on Google Earth presentation...see link below --


PMI Gold owns four previous operating gold mines on 746 square kilometres of leases and concessions located along the prolific Ashanti and Asankrangwa gold belts in Ghana. Kubi, our lead project, is located just 15 km south of the major AngloGold Ashanti Obuasi mine - the largest underground mining complex in West Africa. The Fraser Institute (2008) has rated Ghana as the #2 most politically stable country in Africa after Botswana. It is also the #2 gold producer in Africa after South Africa, with major mines in production by Goldfields, Newmont, AngloGold Ashanti, and Golden Star.

At Kubi, multiple gold resource studies have been conducted over the years, with the most recent NI 43-101 compliant report by Golder Associates Ltd. in Aug. 2007.

Kubi Preliminary Assessment Report

Based on this assessment, Golder has recommended that PMI Gold advance the project to a full feasibility study for production of up to 50,000 ounces of gold per year. Please note that the assessment is based on mineral resources that are not mineral reserves and do not have demonstrated economic viability.

Sectional analysis by PMI Gold, which is consistent with previous historical resource models, has confirmed that a significant proportion of the gold is contained within a central 'high grade' zone located within 500 metres of the surface. PMI Gold is currently assessing mining this high grade core via a decline access from a bench in the old pit, and toll milling at nearby available mills. Kubi has a 20 year mining lease issued and full EIS were completed in 2005 prior to the previous surface mining. Further information will be released as it becomes available.

In addition to Kubi, PMI Gold is focused on further developing our Obotan Gold project and the exploration of the balance of our concessions, subject to sourcing additional funding.