PMI VENTURES LTD.
Suite 511 – 475 Howe Street
Vancouver, BC V6C 2B3
Phone: (604) 681-8069 Fax: (604) 682-8094

News Release #04-07	TSX Venture: PMV
April 8, 2004	Issued & Outstanding: 23,475,397
	Fully Diluted: 32,800,221

PMI VENTURES LTD. ANNOUNCES FURTHER FINANCING OF UP TO $2.6 MILLON

PMI Ventures Ltd. (the "Company") [TSX Venture: PMV], is pleased to announce a best-efforts brokered private placement (the "Offering") of 2,727,273 Units of the Company at a price of $0.55 per Unit to raise gross proceeds of $1,500,000. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant ("Warrant"), each whole share purchase warrant entitling the holder to acquire one additional common share of the Company for a period of eighteen months at a price of $0.75 per share. Further, the broker will be granted a "green shoe" option on $1.1 million worth of Units, or an additional 2,000,000 Units, in the event of exceptional demand.

Funds raised will be used for continued exploration of the Ghanaian properties under option from Goknet Mining Company Limited and general working capital.

A cash finders' fee of 8% of the aggregate gross proceeds of the Offering will be payable to the broker upon closing of the placement. In addition, the Company will issue warrants ("Broker Warrants") to purchase such number of Units that is equal to 8% of the Units purchased under the Offering. Each Broker Warrant will be exercisable for one Unit at any time until the date set as the expiry date of the Warrants at an exercise price of $0.55.

This placement is subject to acceptance by regulatory authorities. The shares issued under the private placement will be subject to a four-month hold period from the date of TSX Venture Exchange approval.

The Company has an option to earn up to 85% of the interest that Goknet Mining Company Limited, a privately held Ghanaian mineral exploration company, holds in nine exploration concessions and applications. Goknets' interests vary from 85% to 100%, subject to a 10% non-participating interest in favour of the Government of Ghana.

On behalf of the Board,

"Laurie Sadler"

Laurie Sadler
President

For more information please contact:

Laurie Sadler	or	Warwick G. Smith
President		VP Shareholder Communication
Telephone: (604) 681-8069		Telephone: (604) 682-8089
Facsimile: (604) 682-8094		Toll-Free: 1 888 682-8089
		Facsimile: (604) 682-8094

Or visit the PMI Ventures Ltd. website at www.westafricangold.com and Goknet Mining Company website at www.goknet.net

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT 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.