New Pacific Metals Corp.



Nu XMP name change to NEW PACIFIC METALS CORP. approved at AGM

VANCOUVER, BRITISH COLUMBIA, CANADA â€" October 5, 2004 - Nu XMP Ventures Limited reports that the Company's 2004 annual general meeting was held on September 30th, 2004. Shareholders approved all matters proposed, including change of the Company's name from "Nu XMP Ventures Limited" to "New Pacific Metals Corp." The Company is now proceeding to obtain regulatory acceptance of the name change. There has been no change in the capital structure of the Company.

The directors elected were Dr. Rui Feng, Myles Gao, Yikang Liu, John Plewes, and Joanne Yan. Dr. Rui Feng was appointed President. Mrs. Irene Wong, CGA, was appointed CFO for the Company. Ms. Lin Qi Huang did not stand for re-election at the Company's Annual General Meeting and the board thanks Ms. Huang for her effective assistance in supporting the Company and wishes her continued success.

The Company welcomes Mr. Myles Gao and Mr. Yikang Liu to the Board. Mr. Gao, P. Geo., is currently President of SKN Resources Ltd. ("SKN"), has many year's experience with a number of Canadian mining and exploration companies in both Canada and China. Mr. Liu, retired, is a well-known geologist in China and is currently Deputy Secretary for both the China Mining Association and Mineral Exploration Branch of the China Mining Association.

Incentive stock options to acquire 650,000 shares of the company at 55 cents per share for a period of five years were granted to the directors and employees of the Company. The foregoing is subject to regulatory approval.

The Company entered into an option letter agreement with SKN by which it may acquire 100 per cent of SKN's wholly owned subsidiary, SKN Nickel & Platinum Inc. ("SNP"). SNP has the right to acquire 75-per-cent and 90-per-cent interests in the Kang Dian Nickel PGM project located in Sichuan province, China.

For Further Information:
Nu XMP Ventures Limited.
Rui Feng, Ph.D.
President & Director
Phone: +1 (604) 633-1368
Fax: +1 (604) 669-9387

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

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