New Pacific Metals Corp.

 

2008

Drill hole ZK0002 intersected 12.9 grams per tonne (g/t) Gold over 1.23 meters at the HNK Gold-Polymetallic Exploration Permit in Guangdong Province, China

 VANCOUVER, BRITISH COLUMBIA -- January 4, 2008 -- New Pacific Metals Corp. (TSX-V: NUX) is pleased to report additional exploration progress at the HNK Gold-Polymetallic Exploration permit area of Guangning County, Guangdong Province, China. The HNK permit covers an area of approximately 56.5 square kilometers.

Drill hole ZK0002 on Line 0 intersected vein V9 with a grade 12.91 g/t gold over 1.23 meters interval from 213.99 m to 215.22 m. This intersection is approximately 80 meters vertically above the intersection of 13.50 g/t gold over 3.1 meters in drill hole ZK0001 which was drilled from the same location but at a deeper angle. This hole verifies that V9 is steeply dipping to the northwest.

The drill is presently drilling hole ZK2002 at the same location as ZK2001 on Line 20 but at a steeper angle (64 degrees vertical) designed to intersect vein V9 approximately 100 meters below the intersection of drill hole ZK2001 which intersected 4.32 g/t over 4.0 meters. Line 20 is approximately 200 m southwest of the Line 0.

The Company will continue to define vein V9 along strike and at depth by additional drill holes.

Drill hole ZK11801 as reported in December 4, 2007 News Release, intersected the poly-metallic vein V109 but drill hole ZK11802 drilled at the same location, at a steeper angle, did not intersect V109 suggesting V109 dips more gently. The third drill hole, ZK11901 stepping out approximately 200 meters southwest of ZK 11801, similarly did not intersect V109 but drill hole ZK11902 drilled at a shallower angle intersected V109 with a grade of 5.9 g/t gold, 341 g/t silver, 2.52% Lead and 0.99% Zinc over 0.42 meters interval from 54.4 m to 54.82 m.

In addition to testing the V9 vein and several large IP anomalies, the Company will also start to drill testing the V18 vein which has been identified by many old tunnels scattered along the double sides of the Gaozhen Valley, extending more than 800 meters. V18 dips gently towards NE or NW trending at shallow angles of 12 to 25 degrees.

Additional drill results will be reported when they become available.

The Company has implemented a quality control program to ensure best practice in sampling and analysis of the tunnel and drill hole samples. All samples are shipped directly in security sealed bags to the two certified laboratories, the Laboratory of Sichuan Bureau of Geology and Mineral Resources in Chengdu and the Testing Centre of Yunnan Province Bureau of Non-ferrous Metals Geology for cross checking. Both laboratories are certified by China Bureau of Quality Control and Quality Assurance. In the laboratories, samples are dried, crushed, split, pulverized to 200 mesh, and then assayed according the standardized ICP/AA program. The exploration work is carried out by Silvercorp Metals Inc.'s wholly owned subsidiary, Yunnan Jin Chang Jiang Mining Co. Ltd., and is directly supervised by Mr. Jigui Sun (BA & M.S., Geology), the General Manager of Jin Chang Jiang and by Dr. Rui Feng (Ph.D., Geology), President of New Pacific Metals.


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

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