Papuan Precious Metals Corp. (the "Company") (TSX VENTURE:PAU)(OTCQX:PAUFF) wishes to advise its shareholders that the BC Securities Commission has rescinded the Company's cease trade order effective November 7, 2011 as the Company had filed its audited financial statements with the Sedar filing system on Friday, November 4th, 2011. Trading in the Company's shares on the TSX Venture Exchange will remain suspended until the Exchange completes its review. The Company is working to have trading reinstated as soon as possible.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

Devinder Randhawa, Chairman and CEO

Contacts: Papuan Precious Metals Corp. Greg Downey 1.866.979.7022info@ppmpng.comwww.ppmpng.com

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