whitegoldbc, Author at New Pacific Metals Corp.

09 Dec, 20

Dr. Rui Feng Donates 80,000 New Pacific Shares to St. Paul’s Foundation in Vancouver and 35,000 New Pacific Shares to the Viola Desmond Chair in Social Justice, Cape Breton University

Vancouver, British Columbia – December 9, 2020 – New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to announce that Dr. Rui Feng, founder, director and former CEO of the Company, has donated 80,000 shares of the Company to St. Paul’s Foundation of Vancouver and 35,000 shares of the Company to the Viola Desmond Chair in Social Justice at Cape Breton University in Nova Scotia.

St. Paul’s Foundation

Teams at St. Paul’s Hospital are undertaking high-impact COVID-19 research to understand the unprecedented variety of complications; and severe and lasting consequences for a patient’s lungs, heart, kidneys, brain, nervous system, and psychiatric health. This research is key to informing immediate patient care for the best possible health outcomes.

In recent months, St. Paul’s Hospital in Vancouver has been leading research efforts in Canada for better understanding the long-term effects of COVID-19. In May 2020, after just one month of planning and logistics, St. Paul’s launched its post-COVID respiratory clinic and research program. By September, the clinic encompassed a team of specialists working together across disciplines to address the full scope of post-COVID illness.

“Life-saving research into COVID-19 at St. Paul’s Hospital will have a national impact,” says Dick Vollet, President and CEO, St. Paul’s Foundation. “This generous gift from Dr. Feng will support continued research and innovation to help find more efficient ways to treat the virus and ultimately improve the quality of life for our patients.”

The Viola Desmond Chair in Social Justice

Viola Desmond’s remarkable stand against racial segregation in 1946 is a story which has become an inspiration to all Canadians. In November 2018, Desmond made history by becoming the first Canadian female to appear on the Canadian $10 bill, cementing herself as a symbol of courage to Canadians everywhere.

The Viola Desmond Chair in Social Justice at Cape Breton University (“CBU”) will honour the legacy of Desmond through research and educational initiatives promoting social justice and African Canadian studies in Canada.

“On behalf of the Board of Governors, faculty, staff and students at Cape Breton University, I would like to extend our deepest thanks and gratitude to Dr. Feng for his generous support of our Viola Desmond Chair in Social Justice at CBU,” says President & Vice-Chancellor, David Dingwall. “Through the work of this Chair, we will continue to honour the legacy of social rights activist, Viola Desmond, through education, research and the promotion of social justice and African Canadian studies in Canada.”

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia and the Silverstrike Project in Bolivia.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

Dec 9, 2020May 11, 2023whitegoldbc2020

19 Nov, 20

New Pacific Identifies High-grade Gold and Silver Mineralization at Its Silverstrike Project, Bolivia

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Continuous Chip Samples Return 4.7 Metres Grading 14.76 Grams per Tonne Gold and 42 Metres Grading 1.02 Grams per Tonne Gold

VANCOUVER, British Columbia – November 19, 2020 – New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to provide an update on exploration activities at the Silverstrike Project, Bolivia. Recent field work has focused on the Silverstrike Central and South areas where the Company has identified three significant new zones of gold and silver rich polymetallic mineralization – Table 1 and Figure 1. These areas, together with the previously released Silverstrike North zones, form high priority drill targets for testing once the required permits are obtained (see news release dated September 29, 2020 for details on Silverstrike North discovery).

BACKGROUND

The large Silverstrike property is comprised of three geologically distinct areas termed Silverstrike North, Central and South within which individual target zones occur (see news release dated December 4, 2019 for details). The current exploration program consists of 1:5,000 scale reconnaissance and 1:500 scale detailed geological, structural and alteration mapping and sampling of the Central and South areas. Highlights of assay results from the Central and South areas are provided in Table 1 and discussed below. A total of 452 samples were collected including 441 channel chip samples and 11 mine dump grab samples.

DISCUSSION

Silverstrike Central

Silverstrike Central is dominated by a ~900 metres (m) diameter volcanic dome – Cerro Tatitu Kkollu which consists of volcanoclastic sediments, hydrothermal breccias, rhyolite dyke swarms, and andesite flows (Figure 1).

Three significant areas of structurally controlled mineralization are geologically associated with the volcanic complex: Manco Kapac, Tatitu Kkollu North and Tatitu Kkollu South. Approximately 700m to the north of the dome silver-rich polymetallic mineralization was historically exploited at the former Manco Kapac mine. Centred on and immediately to the north of the dome, field work and previous drilling by Rio Tinto (in 1995) has identified broad zones of gold and silver-rich polymetallic mineralization hosted in hydrothermal breccias at Tatitu Kkollu North. Finally, gold mineralization has been defined at Tatitu Kkollu South at the contact zones between rhyolite dykes and their associated volcanoclastic sedimentary pile. See Table 1 for details.

The former Manco Kapac mine is characterized by mine dumps scattered along a NE trending corridor approximately 700m long and up to 200m wide (Figure 1). Exposure is comprised of intermittent outcrops of andesite and pyroclastics covered by recent alluvial sediments.

The distribution of the mine dumps suggest that multiple mineralized vein-breccia zones were mined in the past however, the majority of the former underground workings are not accessible. Mineralization is comprised of silicified vein breccia cemented by disseminated gold and silver rich polymetallic mineralization. Seven dump grab samples were collected returning average grades of 0.58g/t Au, 788g/t Ag, 6.07% Pb, 5.48% Zn, and 2.79% Cu (Table 2). A total of 49 channel chip samples were taken including 21 continuous chip samples from an accessible adit which returned an average grade of 2.3g/t Au, 164g/t Ag, 2.49% Pb, 0.68% Zn, and 0.9% Cu over an average width 1.09m and strike length of 70m (Table 3).

Tatitu Kkollu North is a silver rich zone associated with a NNE trending hydrothermal breccia estimated to be a minimum of 50m wide and 200m long based on the surface expression of the limited outcrop in the area (Figure 1).

A total of 61 samples (2 mine dumps and 59 channel chips) were collected. The two mine dump samples returned values of 1380g/t Ag, 2.44%Pb, 0.83% Zn and 2.51% Cu and 105g/t Ag, 0.69% Pb and 13.25% Zn respectively. Fifty-nine channel chip samples returned an average grade of 38g/t Ag, 0.11% Pb and 0.23% Zn with the highest sample reporting 309g/t Ag, 0.24% Pb and 1.72% Zn over 0.8m.

In general, the results are in line with historical drilling by Rio Tinto which returned 220m @ 45g/t Ag, 0.51% Pb and 0.44% Zn from 13.0m to 233.0m in hole BER-3, including a higher grade sub-interval of 116m @ 66g/t Ag, 0.81% Pb and 0.67% Zn from 13m to 129m downhole.

Gold-rich polymetallic mineralization at Tatitu Kkollu South occurs adjacent to the contact zones between volcanoclastic sediments and a NE trending rhyolite dyke swarm (Figure 1).

A single dump grab sample collected from a historic exploration adit returned 1.66g/t Au, 154g/t Ag, 0.69% Pb, 0.3% Zn, and 7.97% Cu. A total of 277 channel chip samples were collected over three key outcropping areas – Channel Chip Sites 1 to 3. Channel Chip Site 2 returned the best results and remains open for expansion (Figure 1 and Table 4):

Continuous mineralization of 42m @ 1.02g/t Au, 18g/t Ag, 0.15% Pb, and 0.11% Zn including 2.0m @ 10.05g/t Au, 30g/t Ag, 0.22% Pb, and 0.11% Zn was returned from Channel Chip Site-1, and 10m @ 1.45g/t, 14g/t Ag, 0.36% Pb including 1.0m @ 9.18g/t Au, 42g/t Ag and 0.74% Pb from Channel Chip Site-3. In addition to the composited intervals, isolated mineralized samples occur between lower grade or barren intervals beyond the continuous mineralized intervals at Channel Chip Sites 1 and 3.

Drilling by Rio Tinto in 1995 tested a small, near surface portion of the target zone returning broad intervals of Au mineralization:

· BER-02 – 302m @ 0.27 g/t Au within which 42m returned 0.52g/t Au.

· BRC-04 – 110m @ 0.46 g/t Au within which 22m returned 1.42 g/t Au.

· BRC-12 – 258m @ 0.19 g/t Au.

Based on the limited previous drilling by Rio Tinto and the latest sample results anomalous gold mineralization is intermittently traceable over an area of 700m long and up to 300m wide. Consequently, the Company interprets the Tatitu Kkollu South zone to represent an attractive near-surface bulk tonnage gold-rich target within which higher grade intervals may occur along strike and/or at depth.

Silverstrike South

At Silverstrike South, significant colonial-era mining dumps of the former Dos Amigos mine define an east-west trending mineralized zone approximately 350m long which is open on either end where it is covered by surface talus. In addition, currently active hydrothermal sinter and associated sediments indicate that the structure has remained active over a geologically prolonged period. The Company interprets this to be indicative of a metalliferous deep seated structural zone.

In detail, mineralization appears to be structurally controlled at the contact between a rhyolitic dome and Tertiary sediments. The width of mineralized system is unknown and the underground workings are not accessible. Twenty-one channel chip samples were collected predominantly from the partially exposed hanging and footwall to the mined structure, returning average grades of 49g/t Ag with the highest up to 255g/t Ag over 1.6m.

Given the extensive surface dumps and associated mining infrastructure including a small smelting house used to produce silver doré, it is possible that the historic Dos Amigo run of mine head-grades were higher than the grades of the recent chip samples.

FUTURE WORK

The Company is continuing to synthesize and fully interpret the data following which it will generate ranked drill targets for initial testing.

Quality Assurance and Quality Control

The grab and chip samples with results released in this news release were shipped in securely sealed bags by New Pacific staff in the Company’s vehicles directly from field to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis. All samples are first analyzed by a multi-element ICP package (ALS code ME-MS41) with ore grade over limits for silver, lead and zinc further analyzed using ALS code OG46. Further silver over limits are analyzed by gravimetric analysis (ALS code of GRA21). Gold is analyzed by fire assay with AAS finish (ALS code Au-AA25).

The assay results of the grab and chip samples are used for reconnaissance purpose, hence no certified reference materials and blank materials were inserted to the normal sample sequence in the field. However, internal QAQC results of ALS lab did not show any significant bias of analysis or contamination during sample preparation.

Technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.

COMPLETION OF SPIN-OUT

The Company announces the successful completion of its previously announced spin-out of all common shares of Whitehorse Gold Corp. (“Whitehorse Gold”) held by the Company to Company shareholders effective November 18, 2020 by way of a share exchange under a court approved plan of arrangement (the “Arrangement”). More information about Whitehorse Gold and the Arrangement can be found in the Company’s management information circular dated August 27, 2020 and news releases dated July 22, August 26 and November 17, 2020, all of which are available for viewing on the Company’s SEDAR profile at www.sedar.com. Whitehorse Gold has received conditional approval from the TSX Venture Exchange (“TSXV”) for the listing of its common shares thereon.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia and the Silverstrike Project in Bolivia.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “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. Such statements include, but are not limited to: statements regarding anticipated exploration, drilling, development, construction, and other activities or achievements of the Company; timing of receipt of permits and regulatory approvals, including final TSXV approval of the spin-out and the listing of the Whitehorse Gold common shares on the TSXV; and estimates of the Company’s revenues and capital expenditures.

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, those related to the Company’s ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically required by applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise except as may be required by law. These forward-looking statements are made as of the date of this news release.

CAUTIONARY NOTE TO US INVESTORS

The disclosure in this news release was prepared in accordance with Canadian National Instrument 43-101 (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the “CIM Definition Standards”) incorporated by reference therein, which differs significantly from the current requirements of the U.S. Securities and Exchange Commission (the “SEC”) set out in Industry Guide 7. Accordingly, such disclosure may not be comparable to similar information made public by companies that report in accordance with Industry Guide 7. In particular, this news release may refer to “mineral resources”, “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources”. While these categories of mineralization are recognized and required by Canadian securities laws, they are not recognized by Industry Guide 7 and are not normally permitted to be disclosed in SEC filings by U.S. companies that are subject to Industry Guide 7. U.S. investors are cautioned not to assume that any part of a “mineral resource”, “measured mineral resource”, “indicated mineral resource”, or “inferred mineral resource” will ever be converted into a “reserve.” In addition, “reserves” reported by the Company under Canadian standards may not qualify as reserves under Industry Guide 7. Under Industry Guide 7, mineralization may not be classified as a “reserve” unless the mineralization can be economically and legally extracted or produced at the time the “reserve” determination is made. Accordingly, information contained or referenced in this news release containing descriptions of mineral deposits may not be comparable to similar information made public by U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder. “Inferred mineral resources” are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Readers are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Further, while NI 43-101 permits companies to disclose economic projections contained in preliminary economic assessments and pre-feasibility studies, which are not based on “reserves”, U.S. companies have not generally been permitted under Industry Guide 7 to disclose economic projections for a mineral property in their SEC filings prior to the establishment of “reserves”. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian reporting standards; however, Industry Guide 7 normally only permits issuers to report mineralization that does not constitute “reserves” by Industry Guide 7 standards as in-place tonnage and grade without reference to unit measures. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.

The SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the U.S. Securities Act (the “SEC Modernization Rules”) effective February 25, 2019, with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to corresponding definitions under the CIM Definition Standards. During the period leading up to the compliance date of the SEC Modernization Rules, information regarding minimal resources or reserves contained or referenced in this news release may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are expected to be “substantially similar” to the CIM Definitions standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards.

Nov 19, 2020May 11, 2023whitegoldbc2020

17 Nov, 20

New Pacific Receives Approval for Whitehorse Gold Corp Share Spin-out

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VANCOUVER, BRITISH COLUMBIA – November 17, 2020: New Pacific Metals Corp. (“New Pacific” or the “Company”) announces that, further to its news releases dated July 22 and August 26, 2020, it has received conditional approval from the Toronto Stock Exchange to complete the spin-out of all existing common shares of Whitehorse Gold Corp. (“Whitehorse”) to Company shareholders by way of a share exchange under a court approved plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the “Spin-Out”), all in accordance with the agreement dated August 25, 2020 (the “Arrangement Agreement”) between the Company and Whitehorse. Pursuant to the Arrangement Agreement, the Company wishes to announce that the effective date of the Spin-Out will be November 18, 2020 (the “Effective Date”), and the Spin-Out will be completed following the close of markets on this date.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosí Department of Bolivia, and the Tagish Lake Gold Project in Yukon, Canada.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “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. Such statements include, but are not limited to: the Company and Whitehorse completing the Spin-Out on the Effective Date; and all conditions referenced in the Arrangement Agreement being satisfied.

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, 2020 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 or 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 or 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 or information.

Nov 17, 2020May 11, 2023whitegoldbc2020

11 Nov, 20

New Pacific Reports Financial Results for the Three Months Ended September 30, 2020

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VANCOUVER, BRITISH COLUMBIA – November 11, 2020: New Pacific Metals Corp. (“New Pacific” or the “Company”) reports its unaudited condensed consolidated interim financial results for the three months ended September 30, 2020. This news release should be read in conjunction with the Company’s MD&A and the financial statements and notes thereto for the corresponding period which have been posted under the Company’s profile on SEDAR at www.sedar.com and are also available on the Company’s website at www.newpacificmetals.com. All figures are expressed in Canadian dollars unless otherwise stated.

QUARTERLY HIGHLIGHTS

· Working capital of $68.88 million to advance the Silver Sand Project and regional exploration initiatives including the Silverstrike Project;

· Continued to expand the Snake Hole Zone on the Silver Sand Project – intersecting 30.9 m @ 159 g/t Ag including 12.2 m @ 354 g/t Ag (see news release dated August 6, 2020 for details);

· Commenced field work on the Silverstrike Project – results indicating good to excellent potential for both high-grade and near-surface bulk tonnage silver-rich polymetallic mineralization at Silverstrike North (see news release dated September 29, 2020 for details);

· Silver Sand Preliminary Economic Assessment, Environmental and Social studies commenced during the quarter;

· Continued focus on Sustainability – expanded the Bolivian CSR team with key hires;

· Received 99.77% shareholders’ support to continue creating shareholder value by spinning out the Tagish Lake Gold project into Whitehorse Gold Corp.; and

· Graduated from the TSX Venture Exchange to the Toronto Stock Exchange and added to the VanEck Vectors Junior Gold Miners ETF (“GDXJ”).

FINANCIAL RESULTS

Working Capital: As at September 30, 2020, the Company had working capital of $68.88 million.

Net loss attributable to equity holders of the Company for the three months ended September 30, 2020 was $1.51 million or $0.01 per share (three months ended September 30, 2019 – net income of $1.29 million or $0.01 per share).

The Company’s financial results were mainly impacted by: (i) income from investments of $0.84 million compared to income of $2.12 million in the prior year quarter; (ii) operating expenses of $2.03 million compared to $1.01 in the prior year quarter; and (iii) foreign exchange loss of $0.32 million compared to gain of $0.18 million in the prior year quarter.

Income from investments for the three months ended September 30, 2020 was $0.84 million (three months ended September 30, 2019 – $2.12 million) and comprised of a $0.76 million gain on the Company’s equity investments, a $0.04 million loss from fair value change offset by interest earned on bonds, $0.07 million in dividends received from the preferred share portfolio, and $0.05 million in interest earned from GICs and other cash accounts. As at the date of this news release, the Company’s material investments are preferred shares issued by the largest five Canadian banks with weighted average dividends yield of 5.68% and Canadian GICs earning weighted average interest of 1.02%.

Operating expenses for the three months ended September 30, 2020 were $2.03 million (three months ended September 30, 2019 – $1.01 million).

Foreign exchange loss for the three months ended September 30, 2020 was $0.32 million (three months ended September 30, 2019 – gain of $0.18 million).

The Company holds a large portion of cash and cash equivalents and bonds in US dollars while the Company’s functional currency is the Canadian dollar. The fluctuation in exchange rates between the US dollar and the Canadian dollar will impact the financial results of the Company. During the three months ended September 30, 2020, the US dollar depreciated by 2.1% against the Canadian dollar (from 1.3628 to 1.3339) while in the prior year quarter the US dollar appreciated by 1.2% against the Canadian dollar (from 1.3087 to 1.3243).

SILVER SAND PROJECT

The Company has carried out extensive exploration and resource definition drill programs on its Silver Sand Project since acquiring the project in 2017. From 2017 to 2019, the Company completed a total of 97,619 m of drilling in 386 holes – one of the largest green fields discovery drill programs in South America during this period.

On April 14, 2020, the Company released the inaugural National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) Mineral Resource estimate for the Silver Sand Project. Using a 45 g/t silver cut-off-grade the estimate reported Measured & Indicated resource tonnes of 35.39 Mt at 137 g/t Ag for 155.86 Moz and Inferred resource tonnes of 9.84 Mt at 112 g/t Ag for 35.55 Moz. See news release dated April 14, 2020 and an amended and restated the technical report entitled “Silver Sand Deposit Mineral Resource Report (Amended)” with an effective date of January 16, 2020 filed under the Company’s profile on SEDAR for details.

The Company commenced its 2020 drill campaign during the first quarter of 2020. A total of 1,589.75 m of drilling was completed before field-based operations in Bolivia were suspended due to the COVID-19 pandemic. Advanced studies have commenced on the project, and following a competitive tendering process, the Company selected CSA Global Consultants Canada Ltd. (an ERM Group company), Knight Piésold Consultores S.A., and Wood plc (an Amec Foster Wheeler company) to lead the Preliminary Economic Assessment, Environmental baseline study, and Social baseline studies, respectively. The initial desktop portion of the studies are currently in progress.

For the three months ended September 30, 2020, total expenditures of $0.91 million (three months ended September 30, 2019 – $4.84 million) were capitalized under the Silver Sand Project.

SILVERSTRIKE PROJECT

In December 2019, the Company acquired a 98% interest in the Silverstrike Project from an arm’s length private Bolivian corporation (the “Vendor”) by making a one-time cash payment of US$1.35 million. Under the agreement the Company’s Bolivian subsidiary is required to cover 100% of the future expenditures including exploration, development and mining production activities at the Silverstrike Project. The agreement has a term of 30 years and renewable for another 15 years. It is subject to an approval by Bolivia’s Jurisdictional Mining Administrative Authority (Autoridad Jurisdiccional Administrativa Minera or “AJAM”) .

The Silverstrike Project consists of approximately 13 km2 and is located approximately 140 km southwest of La Paz, Bolivia. The Silverstrike Project shares many similarities with the Silver Sand Project pre-discovery drilling namely: sandstone hosted structurally controlled silver-polymetallic mineralization centered on a historic mining district – the Berenguela District, presence of felsic Tertiary intrusives with corresponding multiple silver rich occurrences associated with extensive sercitic alteration and underexplored with limited modern exploration. During the three months ended September 30, 2020, the Company’s exploration team commenced reconnaissance and detailed mapping and sampling programs on the northern portion of the project. The results to date indicate good to excellent exploration potential for hosting narrow high-grade and near-surface broad-zones of silver mineralization. See news release dated September 29, 2020 for details.

For the three months ended September 30, 2020, total expenditures of $0.55 million (three months ended September 30, 2019 – $nil) were capitalized under the Silverstrike Project.

Technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosí Department of Bolivia, and the Tagish Lake Gold Project in Yukon, Canada.

For further information, please contact:
New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “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. Such statements include, but are not limited to: statements regarding anticipated exploration, drilling, development, construction, and other activities or achievements of the Company; timing of receipt of permits and regulatory approvals, including TSXV approval of the spin-out and the listing of the Whitehorse Gold common shares on the TSXV; and estimates of the Company’s revenues and capital expenditures..

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

The disclosure in this news release was prepared in accordance with Canadian National Instrument 43-101 (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the “CIM Definition Standards”) incorporated by reference therein, which differs significantly from the current requirements of the U.S. Securities and Exchange Commission (the “SEC”) set out in Industry Guide 7. Accordingly, such disclosure may not be comparable to similar information made public by companies that report in accordance with Industry Guide 7. In particular, this news release may refer to “mineral resources”, “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources”. While these categories of mineralization are recognized and required by Canadian securities laws, they are not recognized by Industry Guide 7 and are not normally permitted to be disclosed in SEC filings by U.S. companies that are subject to Industry Guide 7. U.S. investors are cautioned not to assume that any part of a “mineral resource”, “measured mineral resource”, “indicated mineral resource”, or “inferred mineral resource” will ever be converted into a “reserve.” In addition, “reserves” reported by the Company under Canadian standards may not qualify as reserves under Industry Guide 7. Under Industry Guide 7, mineralization may not be classified as a “reserve” unless the mineralization can be economically and legally extracted or produced at the time the “reserve” determination is made. Accordingly, information contained or referenced in this news release containing descriptions of mineral deposits may not be comparable to similar information made public by U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder. “Inferred mineral resources” are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Readers are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.Further, while NI 43-101 permits companies to disclose economic projections contained in preliminary economic assessments and pre-feasibility studies, which are not based on “reserves”, U.S. companies have not generally been permitted under Industry Guide 7 to disclose economic projections for a mineral property in their SEC filings prior to the establishment of “reserves”. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian reporting standards; however, Industry Guide 7 normally only permits issuers to report mineralization that does not constitute “reserves” by Industry Guide 7 standards as in-place tonnage and grade without reference to unit measures. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.

The SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the U.S. Securities Act (the “SEC Modernization Rules”) effective February 25, 2019, with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to corresponding definitions under the CIM Definition Standards . During the period leading up to the compliance date of the SEC Modernization Rules, information regarding minimal resources or reserves contained or referenced in this news release may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are expected to be “substantially similar” to the CIM Definitions standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards.

Nov 11, 2020May 11, 2023whitegoldbc2020

01 Oct, 20

New Pacific Metals Reports 2020 Annual General and Special Meeting Results

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VANCOUVER, British Columbia – October 1, 2020 – New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to report that all matters submitted to the shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular dated August 27, 2020 (the “Circular”) were approved by the requisite majority of votes cast at the annual general and special meeting of the shareholders held on September 30, 2020 (the “AGSM”). A total of 152,310,111 common shares, representing 56.9% of the votes attached to all outstanding shares as at the record date for the meeting were represented at the AGSM.

The details of the voting results for the election of directors are set out below:

At the AGSM, shareholders also voted: (a) 99.77% in favour of approving the arrangement providing for, among other things, the distribution of the common shares of Whitehorse Gold Corp. (“Whitehorse”) held by New Pacific to New Pacific shareholders, as more particularly described in the Circular; and (b) 99.31% in favour of approving the private placement of Whitehorse common shares (the “Whitehorse Financing”), as more particularly described in the Circular. The Whitehorse Financing was approved by the requisite majority of disinterested shareholders within the meaning of the TSX Company Manual. Shareholders also approved the Company’s amended and restated share based compensation plan and the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year. Final results for all matters voted on at the AGSM will be filed on SEDAR at www.sedar.com and on the Company’s website.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department, Bolivia and the Tagish Lake Gold Project in Yukon, Canada.

For further information, contact:

New Pacific Metals Corp.,
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

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 equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others. 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, 2020 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.

Oct 1, 2020May 11, 2023whitegoldbc2020

29 Sep, 20

New Pacific Extends Broad Areas of Silver Mineralization at Its Silverstrike Project, Bolivia

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Highlights 1,865 g/t Ag and 0.96% Pb over 2.0 m and
1,665 g/t Ag, 0.43% Pb and 1.42% Cu over 2.0 m

VANCOUVER, British Columbia – September 29, 2020 – New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to provide an update on its exploration activities at its Silverstrike Project, Bolivia. New Pacific acquired a 98% interest in the Project in December 2019 (please refer to news release dated December 4, 2019). Reconnaissance and detailed mapping and sampling programs have been completed on the northern portion of the Project. The results to date indicate good to excellent exploration potential for hosting narrow high-grade and near-surface broad-zones of silver mineralization.

Summary highlights of the results received to date are tabulated below in Table 1:

Detailed Mapping and Sampling Program

Silverstrike North is centred on the historic Berenguela Mining District and is characterized by abundant historic mine adits, declines, shafts and spoil heaps scattered intermittently over an approximately 3.5 by 2.2 km area. It includes the Valley Zone, North Top, Tarafaya Mine, South Top, West Top, and CP Zone in addition to the former San Luis Mine, Lourdes Ines Mine and the Turini Mine which are discussed below (Figure 1).

In March 2020, the Company initiated an integrated exploration program consisting of 1:5000 scale reconnaissance and 1:500 scale detailed geological, structural and alteration mapping and geochemical sampling programs. The program aimed to geologically define and sample the extents of the hydrothermal system(s), including extensive Spanish Colonial-era historic workings to develop drill targets.

The exploration team identified and sampled numerous mining adits, declines, shafts and surface open pits. Historic mining operations were developed along steeply dipping fracture zones which ranged from 0.5-2 meters wide developed in altered / bleached Tertiary aged sandstones. In addition, several new mineralized zones were identified as part of the field work.

A total of 2,751 samples were collected including 2,607 channel chip samples and 144 mine dump grab samples. Majority of the samples were taken from surface outcrops of alteration and mineralization. All 2,751 assay results have been received of which, 56 samples have silver grades >300 g/t (average 696 g/t Ag), 163 samples with >100 g/t (average 347 g/t Ag), and 236 samples >50 g/t (average 262 g/t Ag).

Representative channel chip samples were collected perpendicular to outcropping altered fractures, however, in many areas historic mining activities and resultant waste dumps obscure the facture zones. Underground channel chip sampling across mineralized zones typically returned grades ranging from a few hundred to more than one thousand ppm Ag and associated base metals (Pb, Zn and Cu – see tables for details).

DETAIL – see Figure 1 for locations

Valley Zone forms the core of the Berenguela Mining District and is defined by abundant historic mine workings over an area of approximately 1,800 m long in an E-W direction and 300 m wide in a N-S direction (Figure 1). Six adits were mapped and sampled and 20 channel chip samples of mineralized veins were collected returning average grades of 306 g/t Ag, 1.06% Pb over 1.08 m with the best interval of 1.1 m @ 1,100g/t Ag and 0.61% Pb from the San Jose Mine Adit #-4.

North Top Zone located immediately north of the Valley Zone is comprised of sub-horizontal sandstones cut by NWW striking mineralized fractures over an area 1,600 m long in E-W direction and 300 m wide in a N-S direction (Figure 1). Channel chip sampling returned grades up to 696 g/t Ag and 12.25% Pb over 2 m.

Tarafaya Mine Zone is located approximately one kilometre to the north of Berenguela village (Figure 1). The channel chip sampling across mineralized fractures returned grades of up to 909 g/t Ag, and 3.68% Pb over 1.8 m, and 455 g/t Ag and 1.31% Pb over 1.4 m.

West Top Zone forms a topographic high of horizontal sandstones adjacent to the Valley Zone (Figure 1). Mine dump grab sampling returned grades up to 265 g/t Ag and 0.53% Pb, and channel chip sampling returned up to 960 g/t Ag and 0.43% Pb over 0.8 m, and 457 g/t Ag and 0.27% Pb over 2 m.

South Top Zone is a flat area of sub-horizontal sandstones cut by numerous NWW striking mineralized fractures defining a mineralized corridor 1,600 m long in E-W direction and 300 m wide in N-S direction (Figure 1).

The team collected 448 samples of which grab sample results returned values up to 1,185 g/t Ag, 10.55% Pb and 1.15% Cu and the highest channel chip channel sample results of 906 g/t Ag, 0.39% Pb and 0.57% Cu over 1.5 m. Table 2 summarizes assay results with silver grades higher than 300 g/t.

CP Zone, site of the former Nelly Mine, covers an area of 2,500 m long in E-W direction and 800 m wide in N-S direction and is defined by extensive areas of talus material and widespread mining dumps (Figure 1). This structural fairway extends into the West Top Zone.

Systematic dump grab sampling (a total of 82 samples) returned average grades of 129 g/t Ag, 0.54 Pb%, 0.48% Zn and 0.34% Cu with the highest value of 888 g/t Ag, 0.29% Pb, 1.86% Zn and 3.41% Cu.

Underground channel chip sampling in five adits returned values up to 1,665 g/t Ag, 0.43% Pb, 0.36% Zn and 1.42% Cu over 2 m. Surface channel chip sampling across mineralized fractures returned values up to 1,865 g/t Ag, 0.96% Pb and 0.17% Cu over 2 m. Table 3 summarizes assay results with silver grades higher than 300 g/t.

Breccia Zone is located to the west of Berenguela village (Figure 1). It is a sporadically outcropping, NNW trending, tectonic-hydrothermal breccia zone of about 2 km long and up to 50 m wide. Historic mine workings (adits, surface cuts and mine dumps) occur along its length. Two mine dump grab samples returned values of 713 g/t Ag, 7.66% Pb and 4.5% Zn and 223 g/t Ag, 0.41% Pb, 0.59% Zn and 1.27% Cu, respectively. Channel chip samples from surface reported grades up to 54 g/t Ag, 5.64% Pb and 19.5% Zn over 1.1 m.

San Luis Mine Zone forms the northernmost extent of the Silverstrike North area and is comprised of mineralized fracture zones developed in sub-horizontal altered Tertiary sandstones. These fracture swarms constitute a broad corridor approximately 1 km long in an east-west direction and up to 70 m wide in north-south direction. Mine dump grab sampling of seven samples returned average grades of 157 g/t Ag, 6.71% Pb and 9.52% Zn with the highest returning 504 g/t Ag, 10.6% Pb and 0.81% Cu. Channel chip sampling across an accessible underground drift returned grades up to 178 g/t Ag and 2.91% Pb over 1.1 m.

Lordes Ines Mine Zone is located 2,300 m to the southwest of the Berenguela village. The zone is dominated by two sets of cross cutting mineralized fractures developed in sub-horizontal Tertiary sandstones. Interaction between the crosscutting fractures forms a stockwork of veinlets and crackle breccia mappable as a broad mineralized structural corridor of circa 2 km long and 100 m wide. Many of the former mine workings are inaccessible however mine dump grab sampling returned average grades of 635 g/t Ag, 18.43% Pb, 0.95% Zn and 0.79% Cu (n=5) with the highest values of up to 1,675 g/t Ag, 18.35% Pb, 2.03% Zn and 0.6% Cu.

Seventy-five channel chip samples of surface fractures returned grades up to 239 g/t Ag and 6.59% Pb over 0.5 m wide, and a channel chip sample from a breccia zone returned grades of up to 94 g/t Ag, 2.62% Pb and 3.06% Zn over 1.5 m.

Turini Mine Zone is located 1.8 km to the west of Berenguela village. Mine dumps are distributed along a corridor of 1,100 m long and up to 50 m wide. Five mine dump grab samples returned average grades of 886 g/t Ag, 18.88% Pb, 5.33% Zn, 0.72% Cu with the highest values up to 3,220 g/t Ag, 51.18% Pb, 14.95% Zn and 1.76% Cu.

Forty channel chip samples were collected with the highest returning up to 257 g/t Ag, 4.64% Pb and 11.4% Zn over 0.9 m wide. No underground workings were accessible.

FUTURE WORK

New Pacific’s exploration team is currently completing mapping and sampling of the Silverstrike Central and South areas summary results of which will be released upon receipt. Following integration of the geochemical sample results and geological data, the Company will generate drill targets for testing upon receipt of required drill permits which is tentatively anticipated in Q4 2020.

Quality Assurance and Quality Control

The grab and chip samples with results released in the news release were shipped in securely sealed bags by New Pacific staff in the Company’s vehicles directly from field to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis. All samples are first analyzed by a multi-element ICP package (ALS code ME-MS41) with ore grade over limits for silver, lead and zinc further analyzed using ALS code OG46. Further silver over limits are analyzed by gravimetric analysis (ALS code of GRA21).

Technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia and the Tagish Lake Gold Project in Yukon, Canada.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

The Company cautions the reader that 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 equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others.

Cautionary Note to US Investors

This news release has been prepared in accordance with the requirements of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (”NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.

Sep 29, 2020May 11, 2023whitegoldbc2020

26 Aug, 20

New Pacific Reports Financial Results For The Year Ended June 30, 2020 – Treasury of $66.9 Million to Advance the Silver Sand Project and Regional Exploration Initiatives

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New Pacific Enters into Arrangement Agreement with Whitehorse Gold to
Spin-out the Tagish Lake Gold Deposits

VANCOUVER, BRITISH COLUMBIA – August 26, 2020: New Pacific Metals Corp. (“New Pacific” or the “Company”) announces its audited consolidated financial results for the year ended June 30, 2020.

This news release should be read in conjunction with the Company’s MD&A and the financial statements and notes thereto for the corresponding period which have been posted under the Company’s profile on SEDAR at www.sedar.com and are also available on the Company’s website at www.newpacificmetals.com. All figures are expressed in Canadian dollars unless otherwise stated.

FISCAL 2020 HIGHLIGHTS

· Inaugural independent NI 43-101 Mineral Resource estimate for the Silver Sand Project, one of the largest new global silver discoveries in the last decade and the largest Bolivian silver discovery since the mid-1990s: Measured & Indicated of 155.86 Moz of silver and 35.55 Moz of silver in the Inferred category. The deposit remains open for expansion;

· Discovered a new zone of high grade silver mineralization, Snake Hole, adjacent to the Silver Sand deposit – discovery hole intersected 33m @ 517 g/t (see News Release from August 6, 2020 and January 13, 2020 for details).

· Commenced regional silver exploration – acquired the stand-alone Silverstrike Project, a Silver Sand analog comprised of underexplored, structurally controlled, silver-polymetallic sandstone hosted mineralization centred on the historic Berenguela mining district;

· Increased the Companies bench strength with key hires during the period – COO transitioned to CEO role, added a VP Sustainability, dedicated Silver Sand Project Manager and Bolivian Sustainability team members;

· Commenced advanced studies on the Silver Sand Project – Preliminary Economic Assessment, Environmental and Social baseline studies and regional exploration on the Silverstrike Project;

· Continued focus on creating stakeholder value – transferred the Tagish Lake Gold Project to Whitehorse Gold Corp. (“Whitehorse Gold”) and will, subject to shareholder approval, distribute Whitehorse Gold common shares to the Company’s shareholders on a pro rata basis by way of a plan of arrangement; and

· Strengthened the treasury by raising net proceeds of $38.9 million through two bought deal financings to fund exploration and development studies. Maintained strong treasury position of $66.9 million as at June 30, 2020.

FINANCIAL RESULTS

Net income attributable to equity holders of the Company for the year ended June 30, 2020 was $7,932,299 or $0.05 per share (year ended June 30, 2019 – net loss of $2,420,904 or $0.02 per share).

The Company’s financial results were primarily impacted by the following: (i) income from investments of $1,761,514 compared to income of $1,532,391 in the prior year; (ii) operating expenses of $6,187,954 compared to $3,267,707 in the prior year; (iii) impairment recovery of $11,714,944 on mineral property interests compared to impairment of $779,823 in the prior year; and (iv) foreign exchange gain of $624,383 compared to loss of $64,491 in the prior year.

Income from investments for the year ended June 30, 2020 was $1,761,514 (year ended June 30, 2019 – income of $1,532,391).

Within the income from investments, $1,605,982 was gain on the Company’s equity investments, $14,089 was loss from fair value change partially offset by interest earned on bonds, $139,597 was dividends received on preferred shares, and $30,024 was interest income earned on cash and GICs. As of the date of this news release, the Company’s material investments are preferred shares issued by the largest five Canadian Banks with weighted average dividends yield of 5.71% and Canadian GICs earning weighted average interest of 0.91%.

Operating expenses for the year ended June 30, 2020 were $6,187,954 (year ended June 30, 2019 – $3,267,707).

Impairment recovery for the year ended June 30, 2020 was $11,714,944 related to the Tagish Lake Gold Project compared to impairment loss of $779,823 in the prior year related to the RZY Project.

Foreign exchange gain for the year ended June 30, 2020 was $624,383 (year ended June 30, 2019 – loss of $64,491).

The Company holds a portion of cash and cash equivalents and bonds in US dollars while the Company’s functional currency is Canadian dollar. The fluctuation in exchange rates between the US dollar and the Canadian dollar will impact the financial results of the Company. During the year ended June 30, 2020, the US dollar appreciated by 4.1% against the Canadian dollar (from 1.3087 to 1.3628) while in the prior year the US dollar depreciated by 0.6% against the Canadian dollar (from 1.3168 to 1.3087).

SILVER SAND PROJECT

The Company has carried out extensive exploration and resource definition drill programs on its Silver Sand Project since acquisition in 2017. From 2017 to 2019 a total of 386 holes in 97,619m of drilling were completed – one of the largest green fields discovery drill programs in South America during this period.

On April 14, 2020, the Company released the inaugural NI 43-101 Mineral Resource estimate for its 100% owned Silver Sand Project. Using a 45 g/t silver cut-off-grade the estimate reported Measured & Indicated resource tonnes of 35.39 Mt at 137 g/t Ag for 155.86 Moz and Inferred resource tonnes of 9.84 Mt at 112 g/t Ag for 35.55 Moz see News Release for details.

The Company commenced its 2020 drill campaign during the first quarter of 2020, a total of 1,589.75m of drilling was completed before field-based operations in Bolivia were suspended due to the COVID-19 pandemic.

Advanced studies have commenced on the Project, following a competitive tendering process, the Company selected CSA Global Consultants Canada Ltd. (an ERM Group company), Knight Piésold Consultores S.A., and Wood plc (an Amec Foster Wheeler company) to lead the Preliminary Economic Assessment, Environmental baseline study, and Social baseline studies, respectively. The initial desktop portion of the studies are currently in progress.

For the year ended June 30, 2020, total expenditures of $12,731,745 (year ended June 30, 2019 – $10,725,924) were capitalized under the project comprising of the 2019-2020 drill campaign, site and camp service and construction, maintaining a regional office in La Paz, management team and workforce for the project.

SILVERSTRIKE PROJECT

In December 2019, the Company acquired a 98% interest in the Silverstrike Project from an arm’s length private Bolivian corporation (the “Vendor”) by making a one-time cash payment of US$1,350,000. Under the agreement the Company’s Bolivian subsidiary will cover 100% of the future expenditures including exploration, development and mining production activities. The agreement has a term of 30 years and renewable for another 15 years. It is subject to an approval by Bolivia’s Jurisdictional Mining Administrative Authority (Autoridad Jurisdiccional Administrativa Minera or “AJAM”) .

The Silverstrike Project consists of approximately 13km2 and is located approximately 140 kilometres southwest of La Paz, Bolivia. Silverstrike shares many similarities with the Silver Sand Project pre-discovery drilling namely: sandstone hosted structurally controlled silver-polymetallic mineralization centered on a historic mining district – the Berenguela District, presence of felsic Tertiary intrusives with corresponding multiple silver rich occurrences associated with extensive sercitic alteration and underexplored with limited modern exploration. During the period the Companies exploration team commenced geological, structural and alteration mapping in addition to geochemical sampling on the Project.

For the year ended June 30, 2020, expenditures of $640,102 (year ended June 30, 2019 – $nil) were capitalized under the project related to exploration camp construction, fieldwork and staffing for the project.

TAGISH LAKE GOLD PROJECT

The Tagish Lake Gold Project (“TLG Project”), covering an area of 166 km2, is located in the Yukon Territory, Canada, and consists of 1,051 mining claims hosting three identified gold and gold-silver mineral deposits: Skukum Creek, Goddell Gully and Mount Skukum respectively.

New Pacific Metals acquired the TLG Project in December 2010 and completed a single exploration season in 2011 prior to placing the Project on care and maintenance. During the year, the Company performed a strategic review of the Project and established a wholly owned subsidiary, Whitehorse Gold, to hold its 100% interest. In Q4, fiscal 2020, the Company obtained a Class 1 exploration permit, commenced desktop technical studies and analysis of the project including an updated exploration plan.

As a result, the Company reversed the previously recorded impairment on TLG Project to its recoverable amount, being its fair value less costs of disposal (“FVLCD”). The fair value was determined using a market approach based on the pricing parameters implied by the market value of selected comparable transactions involving the sale of similar companies or mineral properties. Specifically, the comparable in-situ resource multiples (Enterprise Value (“EV”) per ounce of contained gold (“EV/R&R”)) observed in comparable transactions has been used to estimate the fair value. As a result, the Company recognized an impairment reversal of $11,714,944 for the year ended June 30, 2020.

For the year ended June 30, 2020, total expenditures of $105,056 (year ended June 30, 2019 – $nil) were capitalized under the project.

ARRANGEMENT AGREEMENT AND SPIN-OUT

Further to the Company’s news release on July 22, 2020, the Company is pleased to announce that it has entered into an arrangement agreement (the “Arrangement Agreement”) with its wholly-owned subsidiary Whitehorse Gold. In accordance with the terms of the Arrangement Agreement, the Company proposes to spin-out all of the existing common shares of Whitehorse Gold to Company shareholders by way of a share exchange under a court approved plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the “Spin-Out”).

It is anticipated that each shareholder of the Company will be entitled to receive, through a series of transactions set out in the plan of arrangement, for each common share of the Company held, one new common share of New Pacific following the Arrangement and a pro rata distribution of the common shares of Whitehorse Gold held by New Pacific. Upon the Spin-Out becoming effective, Whitehorse Gold will cease to be a wholly-owned subsidiary of the Company. The Company also intends to seek a listing of the Whitehorse Gold common shares on the TSX Venture Exchange, but no assurance can be provided that such a listing will be obtained. Any such listing will be subject to Whitehorse Gold fulfilling all of the requirements of the TSX Venture Exchange.

The purpose of the Spin-Out is to reorganize the Company and its assets into two separate companies. The board of directors of the Company believes this will provide shareholders with additional investment choices and flexibility and enhanced value as the Company and Whitehorse Gold will be solely focused on the pursuit and development of their respective assets. Upon completion of the Spin-Out, the Company will continue to focus on the exploration and development of its Silver Sand and SIlverstrike projects in Bolivia and Whitehorse Gold will focus on the exploration and development of the TLG Project.

The Spin-Out requires the approval of the Company’s shareholders, approval from stock exchanges and regulatory authorities and approval of the British Columbia Supreme Court in order to proceed, and is also subject to other closing conditions as outlined in the Arrangement Agreement. There can be no assurance that such approvals will be obtained or that the Arrangement will be completed on the terms contemplated, or at all. Additional details on the Spin-Out will be contained in the management information circular prepared for the Company’s annual general and special meeting scheduled for September 30, 2020. The Company urges all shareholders to read the management information circular carefully and in its entirety.

The foregoing description is qualified in its entirety by reference to the full text of Arrangement Agreement which will be filed on SEDAR.

Technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosí Department of Bolivia, and the Tagish Lake Gold Project in Yukon, Canada.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “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. Such statements include, but are not limited to: obtaining relevant approvals for the Spin-Out; all conditions referenced in the Arrangement Agreement being satisfied; completion of the Spin-Out; the listing of the Whitehorse Gold common shares on the TSX Venture Exchange; the number of Whitehorse Gold common shares received by shareholders of the Company; and the benefits of the Spin-Out on the operations of the Company and Whitehorse Gold.

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, 2019 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.

CAUTIONARY NOTE TO US INVESTORS

The disclosure in this news release was prepared in accordance with Canadian National Instrument 43-101 (“NI 43-101”), which differs significantly from the current requirements of the U.S. Securities and Exchange Commission (the “SEC”) set out in Industry Guide 7. Accordingly, such disclosure may not be comparable to similar information made public by companies that report in accordance with Industry Guide 7. In particular, this news release may refer to “mineral resources”, “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources”. While these categories of mineralization are recognized and required by Canadian securities laws, they are not recognized by Industry Guide 7 and are not normally permitted to be disclosed in SEC filings by U.S. companies that are subject to Industry Guide 7. U.S. investors are cautioned not to assume that any part of a “mineral resource”, “measured mineral resource”, “indicated mineral resource”, or “inferred mineral resource” will ever be converted into a “reserve.” In addition, “reserves” reported by the Company under Canadian standards may not qualify as reserves under Industry Guide 7. Under Industry Guide 7, mineralization may not be classified as a “reserve” unless the mineralization can be economically and legally extracted or produced at the time the “reserve” determination is made. Accordingly, information contained or referenced in this news release containing descriptions of mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of Industry Guide 7. “Inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Further, while NI 43-101 permits companies to disclose economic projections contained in preliminary economic assessments and pre-feasibility studies, which are not based on “reserves”, U.S. companies have not generally been permitted under Industry Guide 7 to disclose economic projections for a mineral property in their SEC filings prior to the establishment of “reserves”. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian reporting standards; however, Industry Guide 7 normally only permits issuers to report mineralization that does not constitute “reserves” by Industry Guide 7 standards as in-place tonnage and grade without reference to unit measures. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.

Aug 26, 2020May 11, 2023whitegoldbc2020

10 Aug, 20

New Pacific Announces Graduation to TSX

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Vancouver, British Columbia – August 10, 2020 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company“) is pleased to announce that it has received final approval for the listing of its common shares on the Toronto Stock Exchange (“TSX“).

New Pacific’s common shares will commence trading on the TSX effective as of market open on August 11, 2020 under the current trading symbol of “NUAG”. In connection with the TSX listing, New Pacific’s common shares will be voluntarily de-listed from the TSX Venture Exchange effective as of the commencement of trading on the TSX.

About New Pacific

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department, Bolivia and the Tagish Lake gold project in Yukon, Canada.

For further information, contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

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 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.

Aug 10, 2020May 11, 2023whitegoldbc2020

06 Aug, 20

New Pacific Intercepts Multiple Zones of Silver Mineralization at Snake Hole Zone, Silver Sand Project, Bolivia

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Highlights include 30.9 m at 159 g/t silver including 12.2 m at 354 g/t silver – system remains open for expansion

Vancouver, British Columbia – August 6, 2020 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce that exploration drilling at the Snake Hole Zone continues to intersect broad zones of silver mineralization and confirms mineral continuity.

The Snake Hole Zone prospect, located approximately 600 metres (“m”) east of the core area of the Silver Sand deposit, was discovered in late 2019 and returned results such as 279 g/t Ag over 72.44 m, including 517 g/t Ag over 32.96 m in discovery hole DSS5218 (see news release from January 13, 2020).

During the first quarter of 2020, eight new drill holes were completed for a total of 1,589.75 m. The objective of the drill program was to confirm the continuity of silver mineralization as well as to continue to explore the >1,000 m mineralized trend. Seven of the eight holes intersected structurally controlled silver mineralization, of which assay results of six holes have been received and are summarized in Table 1 below, with pending assay results for the remaining two holes. Drill results confirm the continuity of silver mineralization between the holes on section 52, where the initial discovery at Snake Hole was made in 2019.

SNAKE HOLE ZONE

The Snake Hole Zone prospect consists of near-surface artisanal underground workings and related surface dumps which follow several NNW-SSE trending silver-mineralized structures. As is the case with the Silver Sand deposit, historical mining at Snake Hole began during the Spanish colonial era and has continued sporadically to recent times. The workings are developed in altered (bleached) quartz sandstones and are traceable for more than 1,000 m in strike with widths varying from a few metres to locally up to 100 m wide. Geochemical sampling of the workings and mine dumps returned consistent results typically ranging from 100 g/t Ag to 300 g/t Ag.

Surface mapping suggests the mineralized fracture zone remains open to north where it potentially trends undercover towards the Company’s Jisas prospect located approximately two kilometres (“km”) to the northwest.

COVID-19 & FUTURE WORK

New Pacific’ commitment to the health and safety of its teams and the communities in which it operates is one of the core values of the Company. In response to the COVID-19 pandemic and based on guidance and directives from relevant public health authorities, the Company elected to temporarily suspend all field-based operations in Bolivia in mid-March. The Company’s Health & Safety Team has implemented Company-wide safety protocols such as 14-day self-isolation where necessary, travel restrictions, remote working and enhanced hygiene controls. New Pacific continues to monitor the situation and will return to operations when it is deemed safe to do so by international health authorities.

In the interim, the Company is actively completing detailed geological – structural and geochemical studies on the Silver Sand deposit as well as its other exploration properties to support future advanced technical studies.

Quality Assurance and Quality Control

HQ-size drill core samples from altered and mineralized intervals are split into halves by diamond saw, with an average sample length of between one to one and a half metres, at the Company’s core processing facility located in Betanzos, a small town located 20 km from the project site. Half core samples are stored in a secure storage facility in Betanzos for future reference, with the other half shipped in securely sealed bags to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis. All samples are first analyzed by a multi-element ICP package (ALS code ME-MS41) with ore grade over limits for silver, lead and zinc further analyzed using ALS code OG46. Further silver over limits are analyzed by gravimetric analysis (ALS code of GRA21).

A standard quality assurance and quality control (“QAQC”) protocol is employed to monitor the quality of sample preparation and analysis. Standards of certified reference materials and blanks are inserted into the normal core sample sequences prior to shipping to the lab at a ratio of 20:1 (i.e., every 20 samples contain at least one standard sample and one blank sample). Duplicate samples of coarse rejects at a ratio of 20:1 are sent to a second internationally accredited lab for check analysis. The assay results of QAQC samples of standards and blanks do not show any significant bias of analysis or contamination during sample preparation.

Technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.

About New Pacific

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department, Bolivia and the Tagish Lake gold project in Yukon, Canada.

For further information, contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

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 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.

CAUTIONARY NOTE TO US INVESTORS

This news release has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. Securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.

Aug 6, 2020May 10, 2023whitegoldbc2020

22 Jul, 20

New Pacific Announces Spin-out of Tagish Lake Gold Project to Create Whitehorse Gold

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Vancouver, British Columbia – July 22, 2020 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) announces it has established a wholly-owned subsidiary, Whitehorse Gold Corp. (“Whitehorse Gold”), to hold its 100% owned Tagish Lake Gold Project, Yukon, Canada. The Company intends to directly or indirectly distribute Whitehorse Gold common shares to New Pacific shareholders on a pro rata basis by way of a plan of arrangement and apply to list the Whitehorse Gold common shares on the TSX Venture Exchange (the “Exchange“).

The spin-out would enable the Company’s shareholders to realize the value of the Tagish Lake Gold Project in the current strong gold market through direct ownership in Whitehorse Gold. Upon completion of the spin-out, the Company would continue to focus on the exploration and development of its Silver Sand and Silverstrike projects in Bolivia.

Tagish Lake Gold Project

New Pacific acquired the Tagish Lake Gold Project in 2010 through acquisition of Tagish Lake Gold Corp. and carried out limited drilling in 2011 that intercepted significant gold results. The Project consists of 1,051 mineral claims covering an area of 170 square kilometres and is located approximately 55 kilometres (km) south of Whitehorse, Yukon in the Wheaton River Valley region. The Project hosts the advanced-stage Skukum Creek, Goddell and Mt. Skukum high-grade gold deposits and multiple high-priority exploration targets.

Project infrastructure includes an all-weather access road, an all-weather 50-person camp, approximately 4.8 km of underground workings, an extensive surface road network and a previously operating 300 tonne per day mill along with a tailings management facility and service buildings. Over 140,000 metres of drilling has been completed on the Project and the Mt. Skukum Mine saw historical underground operations from 1986 to 1988 with reported production of approximately 79,000 ounces of gold, at an average grade of 13 g/t gold under a previous operator.

Plan of Arrangement

It is proposed that the spin-out will occur by way of a plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia) pursuant to which New Pacific shareholders will be entitled to receive common shares of Whitehorse Gold on a pro rata basis. It is also proposed that Whitehorse Gold will conduct a private placement to be completed concurrently with the Arrangement (the “Private Placement“).

The Arrangement and the Private Placement will be subject to the approval of the Company’s shareholders at a special meeting that is expected to be held by the end of September 2020, requisite regulatory and stock exchange approval, and the continued discretion of New Pacific’s management and board of directors. The Arrangement will also be subject to court approval. The listing of Whitehorse Gold’s common shares on the Exchange will be subject to acceptance by the Exchange and Whitehorse Gold fulfilling all the requirements of the Exchange, including closing of the Private Placement.

Further details of the Arrangement and the Private Placement, including, without limitation, the applicable ratio for the number of Whitehorse Gold common shares to be received by New Pacific shareholders, the record date for determining which shareholders will be entitled to receive Whitehorse Gold common shares and vote on the Arrangement and Private Placement at the special meeting, and the date for the special meeting, will be provided in due course. There can be no assurance that the Arrangement or the Private Placement will be completed on the terms described herein or at all, or that the Whitehorse Gold common shares will be listed on the Exchange.

Technical information contained in this news release has been reviewed and approved by Alex Zhang, P.Geo., Vice President of Exploration of the Company.

Investor Relations Agreements

The Company is pleased to announce that it has entered into three separate investor relations agreements.

The Company has entered into an advertising agreement with Aspermont Media Ltd. (dba Mining Journal Online) (“Mining Journal“) pursuant to which Mining Journal will provide certain advertising services to the Company. Such services include investor outreach, organizing investor meetings and online marketing services for a period of 15 months. As consideration, the Company will pay Mining Journal a fee of £4,000 (plus tax). Based out of London, United Kingdom, Mining Journal, an independent third party, publishes a journal which covers all aspects of the mining industry. To the Company’s knowledge, Mining Journal does not have any direct interest in the Company or its securities.

The Company has also entered into an arrangement with Revolve Marketing Inc. (dba Visual Capitalist) (“Visual Capitalist“) pursuant to which Visual Capitalist will provide certain media services to the Company. Such services include the creation and distribution of infographics for a period of six weeks. As consideration, the Company will pay Visual Capitalist a fee of US$7,500 (plus tax). Based out of Vancouver, British Columbia, Visual Capitalist, an independent third party, is a media company that creates and curates rich, visual content on businesses. To the Company’s knowledge, Visual Capitalist does not have any direct interest in the Company or its securities.

Finally, the Company has entered into an agreement with Dig Media Inc. (dba Investing News Network) (“INN“) pursuant to which INN will provide certain advertising services to the Company. Such services include the creation of a profile for the Company, which will include interviews, videos and articles related to the Company. INN will provide such services until March 22, 2021. As consideration, the Company will pay INN a fee of $30,000 (plus tax). Based out of Vancouver, British Columbia, with officers around the globe, INN is an independent firm, which is dedicated to providing independent news and education to investors. To the Company’s knowledge, INN does not have any direct interest in the Company or its securities.

About New Pacific

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department, Bolivia and the Tagish Lake Gold Project in Yukon, Canada.

For further information, contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this news 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. Such forward-looking statements include, but are not limited to, the Company’s expectations regarding: the ability of the spin-out to enable the Company’s shareholders to realize the value of the Tagish Lake Gold Project through direct ownership in Whitehorse Gold; the terms, timing and completion of the Arrangement and the Private Placement; the timing of the special meeting of shareholders to approve the Arrangement and the Private Placement; and the listing of Whitehorse Gold common shares on the Exchange.

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: social and economic impacts of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management; receipt of the requisite shareholder, court, regulatory and stock exchange approval of the Arrangement, the Private Placement and listing of Whitehorse Gold common shares on the Exchange, as applicable; changes in value of the Tagish Lake Gold Project; and others. 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, 2019 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.

CAUTIONARY NOTE TO US INVESTORS

Jul 22, 2020May 10, 2023whitegoldbc2020

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Highlights include 30.9 m at 159 g/t silver including 12.2 m at 354 g/t silver – system remains open for expansion

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