Peruvian Metals Announces Private Placement

Peruvian Metals Corp. (TSXV: PER,OTC:DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce that it has arranged a non-brokered private placement for gross proceeds of up to $750,000 which will be used to make improvements and additions for expansion to its Aguila Norte processing plant, for potential new acquisitions, and for general working capital. The placement will consist of 5,000,000 units at a price of $0.15 per unit, each unit being comprised of one common share and one-half non-transferable share purchase warrant. The common shares, warrants, and any shares issued on the exercise of warrants will be subject to a hold period expiring four months and one day following the date of issue.

Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.20 per common share for a period of two years following the closing date. The warrants will be subject to an acceleration clause; in the case that market price for the Company's common shares is equal to or greater than $0.40 per share for a period of five consecutive trading days at any point during the term of the warrants, then the Company may deliver a notice that the warrants must be exercised within thirty days from the date of delivery of such notice. Completion of the private placement is subject to final approval of the TSX Venture Exchange.

About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. The Company's business model is to produce high grade concentrates from its 100% owned Properties. The Company continues to acquire and develop precious and base metal properties in Peru.

For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com.

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.

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

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