PNG Gold Corporation Announces Change of Officers and Director

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/04/12 -- PNG Gold Corporation ("PNG Gold" or the "Company") (TSX VENTURE: PGK) announces that the board of directors has appointed Mr. Lorne Warner, P.Geo, as the Company's Interim President & CEO. Mr. Warner is a professional geologist with over 30 years production and exploration experience in the minerals industry in Canada, USA, Mexico and Brazil, mainly with Noranda Exploration and Placer Dome. During his tenure with Placer Dome, Lorne led the western extension and discovery of several new gold zones at the Detour Lake Mine. More recently Lorne has worked in West Africa as VP Exploration for Rockgate Capital Corp., and discovered the Falea + 30 million pound U/+40 million ounce Ag/Cu North Zone Deposit in Mali.

Mr. Warner replaces Mr. Dick Whittington, who resigned as President, CEO and director on April 3, 2012 to pursue alternative opportunities in the mining industry. Over the next few months, Mr. Whittington will work with the Company in a transitional capacity primarily focusing on the previously announced merger with New Guinea Gold Corporation ("NGG").

"The Company wishes to thank Mr. Whittington for his service as President, CEO and director," said Mr. Warner.

PNG Gold is also pleased to report that Dr. Gouwei Zhang, PhD (Structural Geology) has been appointed as Vice President Exploration of PNG Gold. Dr. Zhang brings to PNG Gold over 30 years of international experience in the mining industry. Dr. Zhang has worked in North America, China and Africa and is responsible for the development of new structural models at several gold mines in Canada.

The Company also reports that Neil Halldorson has been appointed Executive Vice President, Corporate Development. Mr. Halldorson brings over 30 years of business and corporate finance experience to PNG Gold. He most recently consulted to PNG Gold on the NGG merger and previously to that on the RTO transaction with NMC Mining Corp. which resulted in PNG Gold. Mr. Halldorson has a BA (Honours) in Economics and an MBA from the University of British Columbia.


About PNG Gold Corporation

PNG Gold Corporation is an exploration company with an advanced stage drilling program in Papua New Guinea. PNG Gold holds a 100% interest in the Imwauna and Sehulea properties on Normanby Island, Milne Bay Province, Papua New Guinea, and trades on the TSX Venture Exchange under the symbol PGK. PNG Gold's mission is to become the premier exploration and development company in Papua New Guinea.


ON BEHALF OF THE BOARD OF DIRECTORS OF PNG GOLD

Greg Clarkes
Chairman & Director



The securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities in the United States.

Neither the TSX Venture Exchange or 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.



Contacts:

PNG Gold Corporation
Jenn Miller
Corporate Secretary
604-669-4899
604-685-2345 (FAX)
www.pnggold.com