PNG Gold Corporation: Stock Options Granted

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2011) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

PNG Gold Corporation (TSX VENTURE:PGK) ("PNG Gold" or the "Company") announces that it has granted an incentive stock option to Chief Financial Officer, Dr. Michael A. Reimann, to purchase up to 100,000 common shares in the Company at an exercise price of $0.57 per common share. Ms. Leianne Emery, Investor Relations Manager for PNG Gold, hired as an internal full-time salaried employee for shareholder and corporate communications, was also granted an option to acquire up to 125,000 common shares in the Company at an exercise price of $0.57 per common share. All options granted above are subject to certain vesting periods and are exercisable on or before October 12, 2016.

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 50% interest in the Imwauna and Sehulea properties on Normanby Island, Milne Bay Province, Papua New Guinea, and has earned its option to acquire the remaining 50%. The Company expects the transfer of the remaining 50% interest will be completed expeditiously, after which it will be the sole owner of both properties. PNG Gold 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.

For further details, please visit the Company's website at www.pnggold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

J.R.H. (Dick) Whittington, President & CEO

Forward-Looking Statements

Certain information set forth in this news release contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements relate to matters such as results of exploration and development of the Normanby Property and completion of financing and are subject to numerous risks and uncertainties, certain of which are beyond the control of PNG Gold, including, but not limited to, the impact of general economic conditions, industry conditions, financial market conditions, dependence upon regulatory and shareholder approvals, and the uncertainty of completing intended financing and obtaining additional financing. Exploration of mineral properties is subject to the inherent risk that it may not result in commercial discovery. Readers are cautioned that the assumptions used in the preparation of forward-looking statements, although considered reasonable at the time of preparation, may prove to be incorrect and, as such, undue reliance should not be placed on forward-looking statements. PNG Gold expressly disclaims any obligation to update forward-looking statements contained herein except as required by applicable law.