NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

PAPUAN PRECIOUS METALS ANNOUNCES PRIVATE PLACEMENT FINANCING AMENDMENT

PAPUAN PRECIOUS METALS CORP. (the “Company”) announces a unit private placement financing of $600,000 at $0.08 per Unit. Each unit will consist of one common share plus one-half of one common share purchase warrant, with each whole warrant exercisable to purchase a common share at a price of at $0.12 for a period of two years (“Unit”).  The financing will be partially brokered and partially non-brokered. A finder’s fee of 7% payable in cash or shares may be paid upon closing. The private placement of shares originally announced on April 29, 2014 will not proceed.

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:  info@ppmpng.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

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.