PPM Announces Resignation of Director PAPUAN PRECIOUS METALS CORP (“PPM or the “Company”) has accepted

TSX-V: PAU September 24, 2012 OTCQX: PAUFF

PPM Announces Resignation of Director

PAPUAN PRECIOUS METALS CORP (“PPM or the “Company”) has accepted the resignation of Mr. Chris Cornelius from the Board of Directors effective immediately due to his other business commitments. The management and Board would like to genuinely thank Mr. Cornelius for his valuable contribution to the Company and we wish him all the best in his future endeavors.

About Papuan Precious Metals Corp.

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

ON BEHALF OF THE BOARD

“Dev Randhawa”

Dev Randhawa, Chairman and CEO

For further information contact:

Greg Downey at 1.866.979.7022 Or email: [email protected]

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.