PAU

PAPUAN PRECIOUS METALS CORP (TSX VENTURE:PAU)(OTCQX:PAUFF) ("PPM or the
"Company") announces partial results from the uppermost 79m and selected
mineralized intervals in drill hole URD002 at the Urua Creek prospect, Mt
Suckling project. Drill hole URD002 (collar location: 699284mE, 890612mN;
azimuth: 000 degrees; dip: 60 degrees) successfully tested both gold and copper
soil anomalies and long intervals of gold and copper trench values in Trenches 1
and 2, Line 10 of the Urua Creek grid. This drill hole is the first to intersect
the Urua Creek diatreme breccia, as part of a three hole drill program designed
to test a significant chargeability anomaly identified by a 3D-Induced
Polarization ground geophysical survey completed last fall. The chargeability
anomaly is found within the 1700m x 900m breccia, which hosts the gold and
copper mineralization (see PPM news release dated September 28, 2011).


Results received to date from Discovery HoleURD002 are summarized in the
following table:


Hole URD002 Assay Results



----------------------------------------------------------------------------
Interval           Width    Grade Cu      Grade Au                  Comments
----------------------------------------------------------------------------
8.00 - 78.00                                                                
 m               70.00 m   0.10 % Cu                        0 - 8.00 m scree
----------------------------------------------------------------------------
203.55 -                                                                    
 203.70 m         0.15 m   1.15 % Cu   0.26 g/t Au     Massive sulphide lens
----------------------------------------------------------------------------
208.85 -                                           Massive sulphide lenses &
 215.50 m         6.65 m   0.77 % Cu   1.84 g/t Au                 stockwork
----------------------------------------------------------------------------
            Incl. 1.10 m  2.16 % Cu,   9.60 g/t Au          Massive sulphide
----------------------------------------------------------------------------
            Incl. 0.50 m   0.55 % C,  13.59 g/t Au          Massive sulphide
----------------------------------------------------------------------------
                & 0.60 m   3.49 % Cu   6.20 g/t Au          Massive sulphide
----------------------------------------------------------------------------
244.10 -                                                                    
 246.10 m         2.00 m   0.31 % Cu                                    Vein
----------------------------------------------------------------------------
Cutoffs: 0.1 % Cu; 0.1 g/t Au                                               
----------------------------------------------------------------------------



Additional results will be reported when they become available. Samples were
sent to Genalysis Laboratory in Lae, PNG, for sample preparation prior to pulps
being sent to Townsville, Australia for analysis. Gold analyses were completed
by standard 25g lead collection Fire Assay followed by Flame Atomic Absorption
Spectrometry. Copper analyses involved multi-acid digest including hydrofluoric,
nitric, perchloric and hydrochloric acids in Teflon tubes. Analyses were
completed by Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry.
High-grade gold and copper samples were repeat assayed for ore grade.


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


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, 35 years mining
industry experience, and is a Fellow 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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