New Pacific Metals Corp.



Private Placement Closes

VANCOUVER, BRITISH COLUMBIA â€" May 4, 2006 â€" New Pacific Metals Corp. ("NUX") advises that the private placement announced March 14, 2006 was over-subscribed and has now closed. A total of 4,015,000 Units were sold at $0.40 per Unit with each Unit comprised of one common share and one-half share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at a price of $0.60 per share for a period of one year.

The securities issued are subject to a hold period expiring August 27, 2006.

The proceeds will be utilized for continuing work on the Kang Dian project and for general operating capital.

For Further Information:
New Pacific Metals Corp.
Rui Feng, President & Director
Cathy Fong, VP Corporate Development
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 release.

Download News Release (PDF: 20KB)