Papuan Precious Metals Corp.
TSX VENTURE : PAU
OTCQX : PAUFF

Papuan Precious Metals Corp.

June 30, 2011 08:30 ET

Papuan Precious Metals Corp.: Platinum, Gold and Potassium Anomaly at Dimidi Prospect, Mt. Suckling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2011) - PAPUAN PRECIOUS METALS CORPORATION ("PPM" or "the Company") (TSX VENTURE:PAU)(OTCQX:PAUFF) announces that it has received the results of the recently completed Mt Suckling airborne magnetic and radiometric geophysical survey. Preliminary interpretation has identified a large 2500m long x up to 750m maximum width north-northeast elongated radiogenic potassium anomaly on the western slopes of the middle reaches of Dimidi Creek, a tributary of the Ada'u River. The potassium anomaly is localized within a similarly oriented trans-island structure referred to as the "Dimidi Trend". Coincident with this potassium anomaly is pannable platinum and gold.

Historical detailed panning/prospecting completed at 500m intervals along the creek by Dr. David Lindley in 1990, and under his supervision by PPM in April 2008, has shown that alluvial platinum and gold is sourced entirely from this anomaly in the middle reaches of Dimidi Creek. Updated maps summarizing the platinum and gold values found can be viewed at;(http://www.ppmpng.com/Dimidi_K_Pt.pdf), (http://www.ppmpng.com/Dimidi_K_Au.pdf)

PPM plans to continue prospecting the Dimidi Creek anomaly with selective traverses, mapping and sampling along the tributaries that flow across the potassium anomaly. In addition, ridge and spur soil sampling along intervening ridges will be carried out. This work will run concurrently with the helicopter supported drilling program planned for Urua Creek during the third and fourth quarters of 2011.

The Mt. Suckling Project

The Mt. Suckling project comprises a cluster of recently PPM-discovered prospects (Urua Creek, Araboro Creek, and Ioleu Creek porphyries; Dimidi Creek-Duna Creek-Muruk platinum-gold prospects which are sourcing alluvial Au and Pt; and the unique Doiriri Creek hydrothermal Ni-PGE prospect). It covers two exploration licenses (EL 1424 and EL 1618: PPM 100%) over 316 km2 at the eastern end of the Central New Guinea Range, one of the world's premier porphyry copper and precious metals belts.

Further details of the prospects identified to date at the Mt Suckling project are available at (http://www.ppmpng.com/project-mtsuckling.html).

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ian David Lindley, President & Chief Operating Officer of Papuan Precious Metals Corp, a Qualified Person. Dr. Lindley has First Class Honours and Ph.D. degrees in Geology, 34 years mining industry experience, and is a member of the Australian Institute of Geoscientists.

This press release contains "forward-looking information". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause PPM's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. PPM disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

ON BEHALF OF THE BOARD

David Lindley, President and COO

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