Peruvian Precious Metals Corp. Announces Conversion of Debenture

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NEWS RELEASE TSX.V PPX; BVL PPX

Peruvian Precious Metals Corp. Announces Conversion of Debenture

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Vancouver, British Columbia – August 24, 2015 – Peruvian Precious Metals Corp. (the "Company") is pleased to announce that a debentureholder has converted a US$800,000 debenture issued on August 15, 2014 into common shares. In addition, US$104,000 in accrued interest on the debenture was settled by way of shares for debt. The Company issued 13,907,693 common shares to the debentureholder at a price of US$0.065 per share.

In consideration for assisting in the conversion of the debenture and the debt settlement, Tomas Silva was issued 984,615 common shares.

On behalf of the Board of Directors Brian J. Maher President and Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:

Peruvian Precious Metals Corp.

Kimberly Ann Arntson, Vice President - Corporate Development

Phone: 1-530-414-4400 Email: [email protected] Website: www.peruvianpmc.com

Cautionary Statement:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.