VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2014) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
PAPUAN PRECIOUS METALS CORP. (TSX VENTURE:PAU) (the "Company") - Further to the Company's news release dated April 29, 2014, the Company is increasing the previously announced private placement financing from $500,000 to $600,000. The financing is at C$.10 per share and Finder's fees of 7% payable in cash or shares may be paid upon closing.
The Company also welcomes the appointment of Bernard Kavanamur of Vakamano Ltd. as agent for the Company. Mr. Kavanamur will be carrying out the field programs on our New Hanover prospect in Papua New Guinea.
ON BEHALF OF THE BOARD
Dev Randhawa, Chairman and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.