PAPUAN PRECIOUS METALS CORP. (TSX VENTURE:PAU) (the "Company") is pleased to
announce that the non-brokered private placement announced June 3, 2014 has
closed and the Company raised a total of $776,000 from the sale of 9,700,000
common share units.

The units were sold at $0.08 per unit and each unit consisted of one common
share and one-half of one common share purchase warrant exercisable at $0.12
with an expiry date of June 24, 2015.

The Company has paid Finders a fee, in cash and shares, equal to 7.0% of the
amount of units sold to investors located.

The shares will be subject to resale restrictions for a period of four months.

The net proceeds from the sale of the units will be used to advance the
development of the Company's properties, for potential acquisitions, for general
working capital and a loan of US$350,000 to the Company's subsidiary pursuant to
a plan of arrangement.


Dev Randhawa, Chairman & CEO

This press release contains "forward-looking information". Forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause PPM's actual results, level of activity, performance or
achievements to be materially different from those expressed or implied by such
forward-looking information. Such factors include, but are not limited to:
uncertainties related exploration and development; the ability to raise
sufficient capital to fund exploration and development; changes in economic
conditions or financial markets; increases in input costs; litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological or operational difficulties or inability
to obtain permits encountered in connection with exploration activities; and
labour relations matters. This list is not exhaustive of the factors that may
affect our forward-looking information. These and other factors should be
considered carefully and readers should not place undue reliance on such
forward-looking information. PPM disclaims any intention or obligation to update
or revise forward-looking information, whether as a result of new information,
future events or otherwise, except as required by law.

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.

Papuan Precious Metals Corp.
Greg Downey