PAU

PAPUAN PRECIOUS METALS CORP. (the "Company") (TSX VENTURE:PAU) (OTCQX:PAUFF) is
pleased to announce that it has entered into a non-binding Letter of Intent with
a Colorado licensed dispensary/cultivation facility to conduct a due diligence
review of its Colorado operations. The Company has agreed to immediately place
$100,000 in escrow to conduct the due diligence review of the business and has
the exclusive right to acquire the business, subject to the successful outcome
of the review. The Company may exercise its right to acquire the business upon
completion of formal documentation to acquire the assets of the business for
cash consideration of US $1,250,000.


The Colorado facility currently grows and sells medical marijuana to patients
within the State of Colorado and looks to use the resources to be provided by
the Company to expand its cultivation facilities to meet the current demand for
its product, and to expand into the retail (recreational) market made possible
due to recent Colorado legislation, which allows the sale of up to 1 ounce to
Colorado residents over the age of 21, and 1/4 ounce to out-of-state residents
over the age of 21.


Dev Randhawa, Chairman and CEO of Papuan Precious Metals, commented,

"This is a superb opportunity to enter a positive cash flow business in a
rapidly emerging agricultural sector. The potential upside for our shareholders
is excellent." 


The Company will retain its mineral resource prospects in Papuan New Guinea and
is considering a plan of arrangement to spin-out the Company's assets into two
separate entities.


ON BEHALF OF THE BOARD 

Dev Randhawa, Chairman and CEO

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Papuan Precious Metals Corp.
Greg Downey
1.866.979.7022
info@ppmpng.com

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