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

Papuan Precious Metals Corp.

April 11, 2012 08:30 ET

Papuan Precious Metals Corp.: Two Additional Holes Added to Doriri Creek Ni-Pd-Pt Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 11, 2012) - Papuan Precious Metals Corp. (TSX VENTURE:PAU)(OTCQX:PAUFF) ("PPM" or the "Company") announces it will extend its drilling program by two holes at its 100%-owned Doriri Creek Ni-Pd-Pt prospect in EL 1424 Mt Suckling. The current two-hole, shallow-coring drill program testing the nickel mineralogy that is accompanied by high concentrations of phosphorous minerals, palladium and platinum will be expanded to a total of four holes based on initial positive observations from core. Assays are expected to be published in the coming weeks.

The Mt Suckling Project

The Mt Suckling project is comprised of the Urua Creek, Araboro Creek, and Ioleu Creek porphyries, Dimidi Creek potassium anomaly and the unique Doriri Creek hydrothermal Ni-Pd-Pt prospect. It covers two exploration licenses 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.

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

Dev Randhawa, CEO

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