Commencement of New Chief Operating Officer and Allocation of Stock Options to Michael Gloyne

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/

TSX Venture Exchange: PMV

Australian Securities Exchange: PVM

Frankfurt: PN3N.F

VANCOUVER, March 12, 2012 /CNW/ - PMI Gold Corporation (TSX-V: PMV) (ASX: PVM) (the "Company") is pleased to update the market that Mr. Michael Gloyne commenced as its Chief Operating Officer of the Company, further strengthening its management team as it moves towards development of its flagship Obotan Gold Project in Ghana, West Africa.  Mr. Gloyne is a mining engineer with over 25 years' experience in developing mining projects, from Bankable Feasibility Study, design and development through to production.

Pursuant to the agreement appointing Mr Gloyne, the Board has approved the issue of Company stock options based on the following terms:

• 2,000,000 stock options at an exercise price of C$1.95 per share, exercisable in whole or in part on or before March 11, 2016.
• Vesting in increments over the term of the Options upon achievement of certain milestones.
• The options are issued pursuant to the terms and conditions of the Company's Stock Option Plan.

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.

Investor Relations Canada:
Rebecca Greco, Fig House Communications 
P. [phone]
E. [email protected]

PMI Contact Canada:
Marion McGrath, Corporate Secretary 
P. [phone] 
Toll-Free: 1 [phone]

Investor Relations Australia:
Nicholas Read/Paul Armstrong, Read Corporate 
P. [phone]
M. [phone]

PMI Contact Australia:
Collin Ellison, Managing Director & CEO
P. [phone]

or visit the PMI Gold Corporation website at www.pmigoldcorp.com