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To: Boolish who wrote (208055)	12/21/2011 10:12:17 AM
From: Boolish	Respond to of 312774

PMI Gold signs Abore agreement with Anglican College 2011-12-20 19:30 ET - News Release Mr. Collin Ellison reports PMI GOLD CORPORATION - LAND ACCESS AGREEMENT PMI Gold Corp. has completed an important agreement with the Anglican University College of Technology for the acquisition of property within the Abore-Abirem licence. After the return of the leases (formerly held by Resolute Mining Ltd.) to the Ghanaian government, an area was set aside by the government for the Anglican Church to set up a university. This property, which is adjacent to but outside of the Nkran deposit and open pit and includes former administration and accommodation buildings, has been acquired by PMI under this agreement. The facilities will provide the basis for the future mine accommodation, as well as the immediate accommodation for the continuing exploration activities. The acquisition of these facilities should also simplify the EPA approval process for PMI's mining lease application. The access agreement terms are for PMI to provide an initial $500,000 (U.S.) payment, which will allow PMI immediate access to all facilities, and a later payment of $4.5-million to be paid at the time of the raising of the capital for the Obotan mining operations, or Sept. 30, 2012, whichever is the earlier. The prefeasibility study capital cost estimate will incorporate an amount of $4.5-million for the final settlement for the cost of the future mine village and administration buildings. This agreement is an important step in the development of the Obotan project and will allow the area to be used as a base for management of the project and accommodation within the licence area.