PMI Gold completes short-form prospectus and qualifies exercise of special warrants

PMI Gold Corporation (TSX.V: PMV, ASX: PVM) ("PMI" or the "Company") is pleased to announce that it has received a receipt for its final short-form prospectus which qualifies for distribution in British Columbia, Alberta and Ontario the issuance of 11,786,500 common shares of PMI on the deemed exercise of 10,715,000 special warrants which will occur effective on March 11, 2011.  Each outstanding special warrant will be exercised for 1.1 common shares of PMI without payment of any further consideration.  Details of the special warrant transaction are contained in PMI's short-form prospectus dated March 7, 2011 and available at www.sedar.com.

On behalf of the Board,
"Collin Ellison"
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.