Vancouver, British Columbia – October 3, 2013 – Peruvian Precious Metals Corp. (the "Company"), announces that, subject to regulatory approval, it will extend the exercise period of the 5,615,363 common share purchase warrants previously issued on October 26, 2012 (the first tranche) and November 14, 2012 (together, the "Warrants"), in connection with a private placement of units (the "Private Placement") conducted by the Company on such dates. The exercise period of the Warrants will be extended for a further 12 months from the original expiry date, to October 26, 2014 and November 14, 2014, respectively.

Warrants issued to brokers, agents or finders in connection with the Private Placement will not be amended.

The Company also announces that it has granted stock options to certain directors and officers of the Company to acquire an aggregate of 2,600,000 common shares, in accordance with the Company's stock option plan. The options are exercisable at a price of $0.15 per share for a period of 5 years, vesting 50% on the date of grant and the remaining 50% one year from the date of grant.

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.