Peruvian Precious Metals Corp. Closes Tranche of Non-Brokered Private Placement of Units

Announces Convertible Debenture Financing

Vancouver, British Columbia (FSCwire) - Peruvian Precious Metals Corp. (the "Company") is pleased to announce that it has closed the first tranche of a non-brokered private placement of 828,750 units for gross proceeds of $82,875, to be used for working capital purposes.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder, on exercise thereof, to purchase one additional common share at a price of $0.15 on or before December 31, 2017, provided that if the daily volume weighted average price for 20 consecutive days of trading of the Company’s shares on the TSX Venture Exchange (or such other stock exchange on which shares of the Company are listed) exceeds $0.24 per share, the expiry date of the warrants may be accelerated to the day which is 30 calendar days after notice of acceleration has been sent by the Company to the warrant holder.

In consideration for introducing subscribers to the private placement, the Company issued 72,325 units to Tomas Silva, 46,025 units to Pablo Secada and 46,025 units to Italo Yuli, each an arm's length finder, on the same terms as the subscribers' units.

Securities issued under the first tranche of the private placement will be subject to a four month hold period expiring on May 1, 2016, in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.


New Financing

The Company is also pleased to announce a non-brokered private placement of a convertible debenture in the principal amount of US$100,000 (the "Debenture") to one subscriber with the following material attributes:

Term:  9 (nine) months

Interest Rate: 12% per annum

Conversion price: CA$0.05

The principal amount owing under the Debenture will be due and payable at term. The subscriber may convert all or part of the outstanding principal amount of the Debenture into common shares at the conversion price of CA$0.05 per share at any time during the term.

The Debenture is non-transferable unless otherwise agreed to by the Company.

The proceeds of the Debenture will be used to fund current and proposed financial commitments and for working capital purposes. The closing of the debenture financing is subject to regulatory approval.


Update to Stock Option Grants

On October 15, 2015 the Company announced that a total of 6,300,000 incentive stock options were granted to directors, officers and employees of the Company pursuant to its stock option plan. The correct number of incentive stock options granted was 7,850,000. The options are exercisable for a period of 5 years at an exercise price of $0.10 per share.

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. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.


On behalf of the Board of Directors

Brian J. Maher
President and Chief Executive Officer



FOR FURTHER INFORMATION, PLEASE CONTACT:

Peruvian Precious Metals Corp.
Kimberly Ann Arntson, Vice President - Corporate Development
Phone: 1-530-414-4400
Email: kimberly.ann@peruvianpmc.com
Website:  www.peruvianpmc.com



Cautionary Statement: Neither the TSX Venture Exchange nor 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.