Papuan Precious Metals Corp.

Papuan Precious Metals Corp.

October 20, 2010 10:13 ET

Michael Halvorson and Ron Netolitzky to Join Papuan Precious Metals Corp. Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2010) - PAPUAN PRECIOUS METALS CORP. ("PPM" or the "Company") (TSX VENTURE:PAU) is pleased to announce the appointment of Mr. Michael Halvorson and Mr. Ron Netolitzky to the Company's Executive Advisory Board.

Mr. Halvorson has over 35 years experience in the capital markets and numerous years in the natural resource exploration and mining industry. He has been providing advice on mine development, project planning and infrastructure for decades. Mr. Halvorson has been a Director of several publicly-traded natural resource companies since 1993 and has extensive contacts and connections throughout the Canadian resource industry.

Mr. Netolitzky has extensive global acquisition, exploration and mine development experience achieving success in Canada with the development of three major gold discoveries into successfully producing mines: Eskay Creek, Snip and Brewery Creek. As Chairman of Viceroy Exploration he achieved exploration success with its Gualcaymayo gold project in Argentina, resulting in the sale of the company to Yamana Gold. More recently, he became Chairman of Brett Resources Inc., which has subsequently been acquired by Osisko Mining Corp. Mr. Netolitzky currently serves as a director and officer of several publicly traded junior exploration companies.

The benefits of their expertise will contribute to the PPM team as the Company continues to explore its properties located throughout Papua New Guinea. The Company welcomes Mr. Halvorson and Mr. Netolitzky to the Executive Advisory Board.

The Company has granted Mr. Halverson and Mr. Netolitzky incentive stock options to purchase 150,000 common shares at a price of $.30 per share for a period of 5 years subject to the policies of the TSX Venture Exchange.


Dev Randhawa, CEO and Chairman

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