PMI Gold Corporation Files Final Short Form Prospectus

PMI Gold Corporation announced that it has filed, and received a receipt for, a final short form prospectus in connection with an offering of 28,000,000 Common Shares (the Common Shares) by the Company at a price of CAD1.25 per Common Share for total gross proceeds of CAD35,000,000 (the Offering). PMI intends to use the net proceeds of the Offering to fund its definitive feasibility study on, and development of, the Company's Obotan Gold Project and for general corporate purposes. The Offering is underwritten by a syndicate co-led by Clarus Securities Inc. and RBC Capital Markets and including GMP Securities L.P. and Raymond James Ltd. The Offering is expected to close on or about March 16, 2012.