PAPUAN PRECIOUS METALS CORP. (TSX VENTURE:PAU)(OTCQX:PAUFF) ("PPM or the
"Company") has completed, subject to certain filing requirements in Papua New
Guinea, the sale of a 90% interest in its Mount Suckling project in Papua New
Guinea. The Company will maintain a 10% carried interest and retain a 2% net
smelter royalty. The purchaser, Suckling Minerals Limited, was formed by David
Lindley, the former Chief Operating Officer of the Company, and Tony Kelly, a
former director. They have agreed to deliver 5,344,791 PPM shares to the Company
for cancellation. Suckling Minerals Limited may purchase the 2% net smelter
royalty at any time with a cash payment of C$2 million and may purchase the 10%
carried interest for a payment of $4.7 million subject to maintaining the
property in good standing.


About Papuan Precious Metals Corp.

PPM is engaged in the acquisition, exploration and development of mineral
properties with a focus on Copper-Gold porphyries in Papua New Guinea.


ON BEHALF OF THE BOARD

Dev Randhawa, Chairman and CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Papuan Precious Metals Corp.
Greg Downey
1.866.979.7022
info@ppmpng.com
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