Gold Exploration in West Africa

[Ed Monton]

PMI Ventures news:

FOR: PMI VENTURES LTD.

TSX VENTURE SYMBOL: PMV

MARCH 31, 2003 - 12:30 EST

PMI Ventures Ltd. Exploration Update

VANCOUVER, BRITISH COLUMBIA--PMI Ventures Ltd. (the "Company")
[TSX Venture:PMV], is pleased to announce completion of a
preliminary work program on its Ashanti II Deep Gold Project in
Ghana, West Africa. This work program commenced in mid February
2003 in preparation for follow up drill program that will
comprise 1,050 metres of diamond drilling in 8 to 10 holes
commencing in early April 2003.

The preliminary work program was carried out on the Fromenda and
Gemap properties. The program consisted of cutting of 33 line km
of survey lines; rehabilitation of 10 km of drill access roads;
placement of survey control pillars and the completion of 22 line
km of induced polarization (IP) surveys.

The IP survey on the Fromenda property outlined two chargeability
high areas which are on strike of an area previously tested by 21
reverse circulation drill holes that have also been the target of
extensive recent artisan mining. Previous work in this area
indicated that gold mineralization occurs over a length of 500
metres and consists of two parallel mineralized zones, each 3 to
10 metres in width. Limited drilling of this area was completed
in the early 1990's. Best intersections included 7.1 g/t Au over
4 metres at a depth of 25 metres; 3. 4 g/t Au over 4 metres at a
depth of 55 metres and 5.42 g/t Au over 2 metres at a depth of 24
metres.

Trenching of this recently defined drill target has commenced
and, based on favourable results, it will be drill tested during
the proposed drill program.

PMI has an option to earn up to 85% of the interest that Goknet
Mining Company Limited of Accra, Ghana, holds in exploration
concessions and applications covering an area of over 450 sq km
along a length of 50 km of the axis of the Asankrangwa Gold Belt
in southwestern Ghana. Goknets' interests vary from 85% to 100%,
subject to a 10% non-participating interest in favour of the
Government of Ghana.

Results of the proposed drill program are expected in early May
2003.

On behalf of the Board,

Arthur T. Fisher, President

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.

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FOR FURTHER INFORMATION PLEASE CONTACT:
PMI Ventures Ltd.
Arthur Fisher
President
[phone] or Toll-Free: 1-888-682-8089
[phone] (FAX)
or
PMI Ventures Ltd.
Warwick G. Smith
VP Shareholder Communications
[phone] or Toll-Free: 1-888-682-8089
[phone] (FAX)
Website: www.westafricangold.com