PMI Gold Completes Short-Form Prospectus And Qualifies Exercise of Special Warrants

VANCOUVER, March 15 /CNW/ --
TSX Venture Exchange: PMV


Australian Securities Exchange: PVM


Frankfurt: PN3N.F

VANCOUVER, March 15 /CNW/ - 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.

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Canada: Douglas MacQuarrie, Executive Director: 1 (604) 682-8089     Toll-Free:  1 (888) 682-8089

Australia: Collin Ellison, Managing Director/CEO: Mobile: +61 401 888 323 or

Nicholas Read / Paul Armstrong, Read Corporate: +61 8 9388 1474 Mobile: +61 419 929 046

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