Author: whitegoldbc

VANCOUVER, BRITISH COLUMBIA (February 28, 2012) â€”New Pacific Metals Corp. (TSX:NUX) (the “Company”) announces a correction to its press release dated February 28, 2012 in regards of the Memorandum of Understanding; the correct disclosure is 4.83 million tonnes of mineralized material instead of the originally stated 483 million tonnes.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s current material project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contract New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION

Certain of the statements and information in this press release constitute “forward-looking information� within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects�, “is expected�, “anticipates�, “believes�, “plans�, “projects�, “estimates�, “assumes�, “intends�, “strategies�, “targets�, “goals�, “forecasts�, “objectives�, “budgets�, “schedules�, “potential� or variations thereof or stating that certain actions, events or results “may�, “could�, “would�, “might� or “will� be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Forward-looking statements or information relate to, among other things: the price of metals; the accuracy of mineral resource estimates at the Company’s material properties; the sufficiency of the Company’s capital to finance the Company’s operations; estimates of the Company’s capital expenditures; and timing of receipt of permits and other regulatory approvals.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: exploration and development risks associated with our mineral operations; permitting matters; calculations of mineral resources and corresponding grades; fluctuation in commodity prices; reliance on key personnel; government regulations; risks associated with acquisitions; environmental liability claims and insurance; the need for additional financing; title matters; the volatility of our common share price and volume; dilution; the absence of dividends; competition; and the potential for conflicts of interests among certain officers, directors or promoters with certain other projects. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2011 under the heading “Risk Factorsâ€�. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. Â

The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

VANCOUVER, BRITISH COLUMBIA (February 27, 2012) – New Pacific Metals Corp. (TSX: NUX) (the “Company”) is pleased to announce that it’s solely owned subsidiary Tagish Lake Gold Corp.  has received a five year exploration permit for its Tagish Lake Gold Project (the “Project”) valid from February 23, 2012 to February 22, 2017 known as a “Mining Land Use Approval,” under the Quartz Mining Act, Yukon, Canada. The approval is subject to adhering to Mining Land Use Operational Guidelines, Quartz Mining Act Operating Conditions, as well as the determination and account of security for reclamation.

The exploration permits allows the following activities:

• up to 60,000 metres of surface and underground drilling;

• up to 9,600m3 of sampling and trenching;

• up to the 200,000 tonnes of rock excavation during the period, of which 100,000 tonnes may be mined in any single year;

• construction of 10 kilometres of new single lane surface roads and an additional nine kilometres of drill trails; and

• up to a 50 person camp operating year round.

The Project is currently on winter shutdown; however the Company has plans to activate the Project site this spring.  For 2012, the Company plans surface drilling to “step-out” and “step-down” the known resource zones in the inferred and indicated categories to get a better understanding of the overall resource.

About New Pacific Metals Corp.
New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company engaged in the exploration and development of gold and silver poly-metallic properties in the Yukon, Canada. The Company’s current project is the Tagish Lake Gold Property in Yukon Territory.  With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contract New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or  New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com

CAUTIONARY DISCLAIMER — FORWARD LOOKING STATEMENTS

Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.  Forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the sufficiency of the Company’s capital to finance the Company’s operations; estimates of the Company’s revenues and capital expenditures; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company’s operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company’s properties.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; First Nations title claims and rights; property interests;  joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company’s existing operations;  competition;  operations and political conditions; regulatory environment in Canada;  environmental risks; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management.

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2011 under the heading “Risk Factors”.  Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended.  Accordingly, readers should not place undue reliance on forward-looking statements or information.  

The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

VANCOUVER, BRITISH COLUMBIA — FEBRUARY 15, 2012: New Pacific Metals Corp. (the “Companyâ€�) is pleased to announce that it has received final approval from the Toronto Stock Exchange (the “TSX”) to graduate from the TSX Venture Exchange and list its common shares on the TSX. The Company’s common shares will commence trading on the TSX at the start of February 16, 2012 under the symbol “NUX”.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s current project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contract New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BRITISH COLUMBIA — FEBRUARY 10, 2012: New Pacific Metals Corp. (the “Companyâ€�) announces its unaudited consolidated financial results for the second quarter ended December 31, 2011.  All figures are expressed in Canadian Dollars (CAD$) unless otherwise stated.

SECOND QUARTER FINANCIAL HIGHLIGHTS

For the quarter ended December 31, 2011 (“Q2 2012â€�), the Company recorded loss of $1,036,123 or $0.015 per share compared to loss of $1,508,843 or $0.027 per share for the quarter ended December 31, 2010 (“Q2 2011â€�).Â

Significant highlights of the quarter are as follows:

• Excluding foreign exchange loss of $451,330, the Company incurred total operating expenses of $649,802, a decrease of $626,825 or 49% compared to $1,276,627 in Q2 2011.Â

• Incurred capitalized exploration and development expenditures of $1,141,210 at the Tagish Lake Gold Property.

As of December 31, 2011, the Company has a working capital position of $31,506,742 (June 30, 2011 – $37,232,868). Cash and cash equivalents amounted to $22,937,538 (June 30, 2011 – $20,625,672). With a strong working capital, the Company is well positioned financially to continue development of the Tagish Lake Gold Property.

The Company’s unaudited Condensed Consolidated Interim Financial Statements and Management’s Discussion and Analysis are available for review on our website at www.newpacificmetals.com and through SEDAR at www.sedar.com.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s current project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contract New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BRITISH COLUMBIA – (January 26, 2012) – New Pacific Metals Corp. (TSX-V: NUX) (the “Companyâ€�) is pleased to announce that it has received conditional approval for its common shares to be listed on the Toronto Stock Exchange (“TSX”), subject to the final approval of the TSX. The Company’s common shares will commence trading on the TSX once final approval is received. Upon listing on the TSX, the Company’s common shares will continue to trade under the symbol “NUX”.

In connection with the listing on the TSX, the Company will apply to voluntarily delist it shares from the TSX Venture Exchange to take effect on the date such shares commence trading on the TSX.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s current project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contact New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BRITISH COLUMBIA – (January 20, 2012) – New Pacific Metals Corp. (TSX-V: NUX) (the “Companyâ€�) is pleased to announce new assay results for the surface deep drilling program in 2011 at the Skukum Creek gold-silver deposit of its Tagish Lake Gold Project, Yukon Territory, Canada. Two holes, SC11-02 and SC11-05, confirm presence of the mineralized zone to a depth of 100m below the previously known extent of the deposit. Highlights of the drill results include:

• 12.1m @ 8.42 g/t Au, 82.6 g/t Ag, 0.47% Pb and 1.72% Zn from 368.3 meters to 380.4 meters, including 3.3m @ 22.75 g/t Au, 169.9 g/t Ag, 1.08% Pb and 5.42% Zn from 376 meters to 379.3 meters in the hole SC11-01.

• 14.22m @ 8.1 g/t Au, 75.3 g/t Ag, 0.8% Pb and 1.3% Zn from 496.78 meters to 511 meters, including 5m @ 15.19 g/t Au, 162.8 g/t Ag, 1.81% Pb and 2.56% Zn from 504 meters to 509 meters in the hole SC11-02.

• 2.32m @ 11.11 g/t Au, 83.9 g/t Ag, 0.14% Pb and 0.74% Zn from 437.5 meters to 439.82 meters, including 1.12m @ 21.2 g/t Au, 158 g/t Ag, 0.21% Pb and 1.38% Zn from 438.7 meters to 439.82 meters in the hole SC11-04.

Drill results are summarized in the table below.

Note:Â cutoff of 1.0g/t Au is used in calculation of intercepts. Truth width is about 50-75% of intercepts dependent on drill angle.

Skukum Creek is a mesothermal quartz-sulphide vein type gold-silver deposit hosted in Cretaceous granodiorite with felsic dykes. The overall mineralized zone comprises a series of sub-vertical mineralized veins with the prominent one called the Rainbow Zone. Historically, from 1985 to 2008, a total of 348 diamond drill holes were completed with a total of 44,097 meters, plus a total of 4,050 meters of underground development. The aim of the deep surface drill program in 2011 was to test the down-dip extension of the Rainbow Zone. Drilling was implemented in the period between August 14 and September 24, 2011, with six holes completed totalling 3,169 meters. The first five holes were drilled to the west of the Portal rhyodacite dyke, and the expected quartz-sulphide vein mineralization was encountered in every hole. The last hole was drilled to the east of the dyke but did not intersect mineralization which could be offset by post-mineralization faulting. The deepest mineralization intersected in 2011 surface drill holes is about 450 meters from surface, meaning that the mineralized zone is expanded about 100 meters down-dip from the limit outlined by historical drilling. This mineralized zone remains open at further depth and along strike.

The Company is very pleased with the drill results of this deep drill program, and remains confident in the upside resource potential with more drilling at the down-dip extension of the Rainbow Zone contemplated for 2012.

Quality Control

Drill cores are halved by diamond saw with half core split samples being shipped to the preparation labs of the Stewart Group and ALS in Whitehorse, Yukon for preparation, and then being assayed at the assay lab of the Stewart Group in Kamloops and at the assay lab of ALS in North Vancouver, British Columbia. Analysis methods are standard fire assay by AA finish for gold, aqua regia digestion plus AA finish for silver and base metals. Standard reference materials, blank and field duplicate samples were inserted prior to shipment from site to monitor the quality assurance and quality control of the assay data.

Alex Zhang, P.Geo. Vice President Exploration of the Company, is a Qualified Person pursuant to NI 43-101 and has reviewed and given consent to the technical information of this press release.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s current project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contact New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BRITISH COLUMBIA – (January 18, 2012) – New Pacific Metals Corp. (TSX-V: NUX) (the “Company”) is pleased to announce assay results for the remaining holes drilled in 2011 at the Lake Zone of the Mt. Skukum gold deposit at its Tagish Lake Gold Project in Yukon Territory, Canada (the “Project”). It should be noted that in regards of the Company´s stated resources, the bulk of the Project´s resources are at the Skukum Creek deposit (which is a separate deposit from Mt. Skukum).

The Company feels that it has sufficient drilling data to complete a new resource calculation across all three of the Project´s deposits being: Goddell, Skukum Creek, and Mt. Skukum, and to bring those resource calculations into the “Current” status pursuant to NI 43-101. Assays for Mt. Skukum are summarized in the following table:

These assay results confirm the high-grade nature of gold mineralization reported by drilling in the 1980´s. Two major quartz-calcite-sericite-adularia stockwork veins of the Lake Zone, (Lake vein 1, Lake vein 2) are reasonably continuous on strike and down-dip with both high-grade pockets and irregular to low-grade to barren portions within stockwork zones. See overview on Schematic 1.

Schematic 1 – Overview of Mt. Skukum Lake Zone Geology

Drill results in 2011 confirmed the high grade pockets demonstrated by historical drilling, and more drilling is required to fully define the individual stock-work vein zones. 2011 drill results illustrate that no economical mineralization is associated with the disseminated sulphide zones. Schematic 2 illustrates the potential for width of the zone, with a current interpretation on section.

Schematic 2 – Section of Mt. Skukum Lake Zone Deposit, illustrating intercepts

Schematic 3 – Additional Section of Mt. Skukum Lake Zone Geologic interpretations

The Company is very pleased with the results from the stock-work vein zones of 2011 drilling activities. The Company is planning further drilling to explore the potential of the deposit and refine the high grade zones, and add resources with the new resource calculations planned for 2012.

Quality Control

Drill cores are halved by diamond saw with half core split samples being shipped to the preparation lab of the ALS Minerals Lab in Whitehorse, Yukon for preparation, and then being assayed at the assay lab of ALS in North Vancouver, British Columbia. Analysis methods are standard fire assay by AA finish and GRAV finish for gold, aqua regia digestion plus AA finish for silver. Standard reference materials, blank and field duplicate samples were inserted prior to shipment from site to monitor the quality assurance and quality control of the assay data.
Alex Zhang, P.Geo., Vice President Exploration of the Company, is a Qualified Person pursuant to NI 43-101 and has reviewed and given consent to the technical information of this press release.

Officers

The Company is also pleased to announce that the directors of the Company have re-appointed the Company´s officers for the following year: Rui Feng, Chief Executive Officer, Maria Tang, Chief Financial Officer, and Peter Torn, Corporate Secretary.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s current project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific´s website at www.newpacificmetals.com or contact New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Vancouver, British Columbia (November 30, 2010) – New Pacific Metals Corp. (TSXV: “NUX.V”) (“New Pacific”), held its annual general meeting (the “Annual Meeting”) on November 29, 2010. All matters placed before New Pacific shareholders were approved, including the election of all director nominees, namely The Honourable Jack Austin, Dr. Rui Feng, Mr. Shating Shen, Joanne Yan, T. Greg Hawkins, and David Kong, subject to regulatory approval. The voting report of the Annual Meeting is available for review on the SEDAR on www.sedar.com.

T. Greg Hawkins has been involved in the mining exploration and investment industry since 1969. In acting as a lead consultant or founding director of seven public and private ventures, he has participated in, or been responsible for, the definition of at least one resource/reserve in every case with four cases resulting in production. He holds a BSc. in Geology from the University of Alberta and a MSc. in Mineral Economics from McGill University.

David Kong earned his Chartered Accountant designation in British Columbia. Between 1981 and 2004 he was a partner of Ellis Foster Chartered Accountants, the largest independent accounting firm in British Columbia. Ellis Foster merged with Ernst & Young LLP in 2005 and retained Mr. Kong as a partner of Ernst & Young LLP from 2005 to 2010 where he led its Chinese market practice in Canada.

Following the Annual Meeting the board of directors passed resolutions appointing Dr. Hugh Abercrombie as president of the Company, effective January 1, 2011, and appointing Peter Torn as corporate secretary of the Company effectively immediately; both appointments are subject to regulatory approval. All other officer positions remain the same. Rui Feng will remain as CEO of the Company after January 1, 2011.

Dr. Abercrombie is a professional geologist with 25 years experience in mineral exploration, mining and geoscientific research in Canada and the U.S. He began his career with the Geological Survey of Canada and from 1997 to 2008 served as vice-president exploration and later business development with Birch Mountain Resources Ltd. Dr. Abercrombie’s work has focused on creating and building shareholder value through mineral exploration and development. Since 2009, he has provided consulting services to private mining companies in Canada and Alaska. He is a qualified person pursuant to NI 43-101.

Peter Torn has 20 years experience working and living in Europe, Asia, and the U.S. He is a securities and corporate commercial lawyer and a current member of the British Columbia Law Society. He has a MBA and LLB from the University of British Columbia.

The Honourable Jack Austin, Dr. Rui Feng, and David Kong were appointed members of the Audit Committee, the Compensation Committee, and the Corporate Governance and Nominating Committee.

New Pacific also announces that subject to regulatory approval, it has granted an aggregate of 920,000 incentive stock options to directors, employees, and consultants of the Company. The stock options are exercisable at $1.60 for a period of five years and are subject to a vesting period of 48 months. New Pacific also cancelled 200,000 incentive options granted May 13, 2008.

About New Pacific Metals

New Pacific is engaged in the exploration and development of mineral resources in Canada and China. The Company’s strategy is to focus on projects which it believes can be developed in a relatively short time frame into high-margin operations with reasonable development capital profiles. Its goal is to get a project into production, well before the full resource potential of the property is defined, so that further exploration expenses to grow in resources and capital costs to increase production can be funded from the cash flows generated from early operations.

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

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

VANCOUVER, BRITISH COLUMBIA – NOVEMBER 21, 2011: New Pacific Metals Corp. (the “Company”) announces its unaudited consolidated financial results for the first quarter ended September 30, 2011.  All figures are expressed in Canadian Dollars (CAD$) unless otherwise stated.

FIRST QUARTER FINANCIAL HIGHLIGHTS

For the quarter ended September 30, 2011 (“Q1 2012”), the Company recorded net income of $884,175 or $0.013 per share compared to loss of $307,816 or $0.009 per share for the quarter ended September 30, 2010 (“Q1 2011”). 

Significant highlights are as follows:

• Recognized foreign exchange gain of $1,556,895 attributed to the strengthening of US dollar against Canadian dollar in the quarter.

• Excluding foreign exchange gain, the Company incurred total operating expenses of $678,375, a decrease of $626,809 or 48% compared to $1,305,184 in Q1 2011.

• Incurred capitalized exploration and development expenditures of $4,407,311 at the Tagish Lake Gold Property.

As of September 30, 2011, the Company has a working capital position of $33,608,304 (June 30, 2011 – $37,232,868).  Cash and cash equivalents amounted to $22,072,284 (June 30, 2011 – $20,625,672). With a strong working capital, the Company is well positioned financially to continue development of the Tagish Lake Gold Property.

The Company’s unaudited Condensed Consolidated Interim Financial Statements and Management’s Discussion and Analysis are available for review on our website at www.newpacificmetals.com and through SEDAR at www.sedar.com.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s current project is the Tagish Lake Gold Property in Yukon Territory.  With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contact New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or  New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com Website: www.newpacificmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

VANCOUVER, BRITISH COLUMBIA – (November 14, 2011) – New Pacific Metals Corp. (TSX-V: NUX) (the “Company”) is pleased to announce the 2011 assay results from drilling at the Goddell gold deposit at its wholly owned Tagish Lake Gold Project in the Yukon Territory, Canada. The most prominent results include 36.7m @ 4.2 g/t gold from 514.99 meters to 551.69 meters in hole GG11-02 and 24.67m @ 4.33 g/t gold from 544 meters to 568.67 meters in hole GG11-04. The drill results confirm the wide zone of gold mineralization known as “PD Merged Zone” reported by historical drilling. The drill results are summarized as follows:

Table-1 2011 Goddell Drill Intercepts

The maps below show the location of the drill holes:

Goddell is a shear zone hosted gold deposit, in a five kilometer strike length structure, associated with fine disseminated sulphides in altered andesite and rhyolite dykes, breccias and quartz monzonite. From 1987 to 2004, substantial drilling was completed by previous owners to define an area of the shear structure with a strike length of about 1,000 meters to a depth extent of 600 meters from surface, yielding some very wide gold intercepts. The summary of completed historical work includes 77 diamond drill holes totalling 20,722 meters plus 780 meters of underground decline development.Â

In 2011, the Company planned an underground drill program at Goddell aimed at testing the down dip extension of the PD zone known as the “Merged Zone”; the current geological interpretation points to a merging of the Goddell Gully Zone with the PD zone. Due to ground conditions encountered in the decline during dewatering surface drilling was carried out in place of underground drilling. Three drill holes were completed to the planned depth: these consistently intersected the anticipated wide “Merged Zone” of disseminated sulphide mineralization, characterized by fine disseminated pyrite and fine acicular arsenopyrite, overprinted by minor stibnite and quartz veinlets. However, some holes failed to reach the target depth due to faults and drilling performance.

The Company is very pleased with the assay results from the mineralized intervals; such results confirmed the previously determined wide gold intercepts that look promising for large “bulk-mining” sized stopes, envisioned for a future potential mining operation. The drilled section accounts only for a small strike sector of the five kilometers long mineralized Goddell shear structure. As work on Goddell re-commences in 2012, the Company will engage contractors with deep drilling ability to fully test the down-dip and along strike potentials of the entire structure with drill fences.

Quality Control
Drill cores were halved by a diamond-blade saw with half core splits being shipped to the preparation lab of the Stewart Group in Whitehorse, Yukon, and the remaining halves securely archived. Assay work was completed by the assay lab of the Steward Group in Kamloops, British Columbia. Analysis methods are standard fire assay with AA finish for gold. Standard reference materials, blank and field duplicate samples were included, with in house numbering, prior to shipment to monitor the quality assurance and quality control of the assay data.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company’s only project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

Jason Nickel, P.Eng. Vice President Engineering of the Company, is a Qualified Person pursuant to NI 43-101 and has reviewed and given consent to the technical information of this press release.Â

For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com or contact New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, or New Pacific Investor Relations at 604-633-1368 or send inquires to info@newpacificmetals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Nov 14, 2011May 11, 2023whitegoldbc2011