In this Letter, we report our experimental results on phase-sensitive amplification (PSA) in a nondegenerate signal-idler configuration using ultranarrow coherent population oscillations in metastable helium at room temperature. We achieved a high PSA gain of nearly 7 with a bandwidth of 200 kHz by using the system at resonance in a single-pass scheme. Further, the measured minimum gain is close to the ideal value, showing that we have a nearly pure PSA. This is also confirmed from our phase-to-phase transfer curves measurements, illustrating that we have a nearly perfect squeezer, which is interesting for a variety of applications. © 2016 Optical Society of America.