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28.10.2009
PMI Gold Corp.: PRIVATE INVESTOR INCREASES SHAREHOLDINGS
PMI Gold Corp.: PRIVATE INVESTOR INCREASES SHAREHOLDINGS

Waratah Investments Ltd. of 15 Odum St., North Dzorwulu, Accra, Ghana, has acquired an additional 15 million units of PMI Gold Corp. The units were purchased for investment purposes. Waratah's present intention is to acquire additional shares of the company from time to time.

After giving effect to the above acquisition, Waratah beneficially owns 38.9 million common shares and 38.9 million share purchase warrants. Upon consummation of the purchase of such common shares and share purchase warrants and exercise thereof, they would represent approximately 29.6 per cent of the issued and outstanding common shares of the company.

On behalf of the Board,

"Douglas R. MacQuarrie"

Douglas R. MacQuarrie
President & CEO

For further information please contact:

Douglas MacQuarrie, President & CEO
Telephone: 1 (604) 682-8089 Toll-Free: 1 (888) 682-8089 Facsimile: 1 (604) 682-8094
or for European Investors: Florian Riedl-Riedenstein: Tel: 43-2774-28814, e-mail: frram@aon.at
Or visit the PMI Gold Corporation website at www.pmigoldcorp.com

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.

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.



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