New Pacific Metals Corp.

 

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New Pacific Metals Issues Notice of Change to Holders of Tagish Lake Common Shares and Debt in Connection With Take-over Bid

Vancouver, British Columbia (August 20, 2010) - New Pacific Metals Corp. (TSXV: "NUX.V") ("New Pacific"), announces that today it filed with the applicable securities regulators and mailed an additional Notice of Change (the "Notice of Change") to the holders of outstanding common shares and debt of Tagish Lake Gold Corp. ("Tagish Lake") in connection with the take-over bid by New Pacific for all of the outstanding common shares and debt of Tagish Lake (the "Offer"). The Notice of Change provides additional information on New Pacific and the Offer and modifies the Offer to Purchase and accompanying take-over bid circular dated July 21, 2010 (the "Circular") and the Notice of Change dated July 27, 2010.

Investors may obtain a free copy of the Circular and other documents filed by New Pacific with the Canadian securities regulators at www.sedar.com. The Circular and other documents may also be obtained for free from New Pacific's website or by directing a request to New Pacific's investor relations department by telephone at 1-888-224-1881, fax 604-669-9387 or e-mail info@newpacificmetals.com or by contacting the Information Agent, Kingsdale Shareholder Services Inc., toll free at 1-888-518-6812.

Secured and Unsecured Creditors of Tagish Lake may obtain more information by contacting New Pacific at the above phone numbers, or by email to: debtinfo@newpacificmetals.com

About New Pacific Metals Corp.

New Pacific is engaged in the exploration and development of mineral resources, gold-poly-metallic projects in China and other jurisdictions. New Pacific has extensive experience in implementing high grade resource development projects. For more information about New Pacific, visit the company's website at www.newpacificmetals.com.


For Further Information:
New Pacific Metals Corp.
Investor Relations
Phone: +1 (604) 633-1368
Fax: +1 (604) 669-9387
Email: info@newpacificmetals.com
Website: www.newpacificmetals.com

Forward Looking Information

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding the proposed acquisition of Tagish Lake common shares by New Pacific, the offer to pay out the secured and unsecured creditors ,and discussion of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based on a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. New Pacific Metals disclaims any intention or obligations to revise or update such statements. The following factors, among others, could cause actual results or developments to differ materially from the results or developments expressed or implied by forward looking statements: New Pacific cannot determine the number of Tagish Lake shareholders who may accept New Pacific’s Offer; New Pacific may not succeed in acquiring 66 2/3% of the outstanding Tagish Lake shares (on a fully -diluted basis); If the Offer is successful, New Pacific may not be successful in assisting Tagish Lake to obtain, and Tagish Lake may not obtain, the regulatory and other approvals and financing required to develop the Skukum mineral district; Tagish Lake may not be successful in developing the Skukum mineral district.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.