The 'official' PPA's are in the process of being re-started. In the mean
time, there is a workaround at
https://help.ubuntu.com/community/Lubuntu/Documentation/FAQ/Workarounds#Chromium_not_Updating

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https://bugs.launchpad.net/bugs/1081518

Title:
  Chromium-browser package is outdated and poses a security risk

Status in “chromium-browser” package in Ubuntu:
  New

Bug description:
  The current chromium-browser version in 12.04 is outdated 
(http://packages.ubuntu.com/precise/chromium-browser is at version 18 when 
current version is 23).
  That were most probably security vulnerabilities that where fixed between 
these 2 versions, which Ubuntu chromium-browser users are still vulnerable to.
  The Quantal package is at version 22: 
http://packages.ubuntu.com/quantal/chromium-browser 

  I see that the firefox package keeps the same version betweeen Precise and 
Quantal, since running an outdated browser version has security implications.
  The same logic should be applied to chromium-browser.

  Futhermore; there is a (formerly) "official" PPA at 
https://launchpad.net/~chromium-daily/+archive/ppa that used to maintain the 
latest version of each channel. This PPA is no longer maintained and according 
to the Chromium team's support IRC channel, it won't be maintained in the near 
future.
  I believe it is best to delete this PPA, to avoid users thinking that their 
browsers are up-to-date when they are not.

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