New Pacific Reports Financial Results For the Year Ended June 30, 2018

VANCOUVER, BRITISH COLUMBIA – September 13, 2018: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its audited consolidated financial results for the year ended June 30, 2018.

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements 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 (CAD) unless otherwise stated.

FISCAL 2018 HIGHLIGHTS

Completed the Alcira acquisition becoming owner of the Silver Sand Property in Bolivia for a total cash consideration of US$45,000,000;

Successfully received exploration permits for the Silver Sand Property in October 2017 and immediately commenced a 30,000 metre exploration drilling program; and

Raised US$57,002,700 through three private placements including strategic financing with Pan American Silver Corp. and Silvercorp Metals Inc. as a part of the funding source of the acquisition and exploration for the Silver Sand Property.

FISCAL 2018 FINANCIAL SUMMARY

Net loss attributable to equity holders of the Company for the year ended June 30, 2018 was $4,106,450 or $0.03 per share (year ended June 30, 2017 - net income of $1,372,544 or $0.02 per share). The Company’s financial results were mainly impacted by the following: (i) loss from investments of $1,539,759 compared to income of $3,032,548 in the prior year, and, (ii) operating expenses of $3,103,712 compared to $2,107,187 in the prior year.

Loss from investments for the year ended June 30, 2018 was $1,539,759 (year ended June 30, 2017 - income of $3,032,548).  Within the loss from investments, $1,081,767 was loss on the Company’s equity investments and $472,432 was loss from fair value change on bonds net of interest earned.

Operating expenses for the year ended June 30, 2018 was $3,103,712 (year ended June 30, 2017 - $2,107,187).  The increase in operating expenses was a result of the Company’s increased activity.

Foreign exchange gain for the year ended June 30, 2018 was $470,966 (year ended June 30, 2017 - foreign exchange loss of $78,944). The Company holds a large 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 Canadian dollar will impact the financial results of the Company.  During the year ended June 30, 2018, the US dollar appreciated by 1.5% against Canadian dollar (from 1.2977 to 1.3168) while in the prior year the US dollar depreciated by 0.2% against Canadian dollar (from 1.3009 to 1.2977).

FOURTH QUARTER FINANCIAL SUMMARY

For the quarter ended June 30, 2018 (“Q4 Fiscal 2018”), the Company reported net loss attributable to equity holders of $1.20 million or $0.01 per share, compared to net loss of $1.55 million or $0.02 per share for the quarter ended June 30, 2017 (“Q4 Fiscal 2017”).

Major financial items impacting the fourth quarter financial results were as follow: (i) loss from investments of $995,797 in Q4 Fiscal 2018 compared to loss from investments of $708,806 in Q4 Fiscal 2017; (ii) operating expenses of $616,622 in Q4 Fiscal 2018 compared to $756,523 in Q4 Fiscal 2017, and (iii) foreign exchange gain of $406,203 in Q4 Fiscal 2018 compared to foreign exchange loss of $524,096 in Q4 Fiscal 2017.

SILVER SAND PROPERTY

In October 2017, the Company successfully received exploration permits required by the relevant Bolivian government authorities and immediately commenced a 30,000 metre exploration drilling program on the Silver Sand Property.  For the year ended June 30, 2018, total expenditures of $6,553,301 were capitalized under the property.  These expenditures were mainly related to the drilling program, site and camp preparation, and building a competent management team and workforce for the property.

ABOUT NEW PACIFIC

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

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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information 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, 2017 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 press 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.

NEW PACIFIC SIGNS MEMORANDUM OF UNDERSTANDING AND ACQUISITION OPTION AGREEMENT TO EXPAND LAND PACKAGE FOR SILVER SANDS PROJECT

VANCOUVER, B.C. – July 25, 2018: New Pacific Metals Corp. (TSX-V: NUAG; OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce that the Company and its wholly-owned subsidiary, Empresa Minera Alcira S.A. (“Alcira”), signed a memorandum of understanding  (the “MOU”) with Corporación Minera de Bolivia (“COMIBOL”), allowing Alcira to explore and develop 38 mineral concessions adjoining south and west to Alcira’s Silver Sands project in the Potosi Department of Bolivia.  The MOU established a process for the parties to negotiate and complete definitive agreements on the mineral concessions.  The signing of the MOU occurred at the Silver Sands project site attended by the Honourable, César Navarro Miranda, the Minister of Bolivia’s Ministry of Mining and Metallurgy, the Honourable, Hianny Romero, the Vice Minister of Bolivia’s Ministry of Development and Planning, José Pimentel, President of COMIBOL, Fernando Leyton, the Director of Land of Autoridad Jurisdiccional Administrativa Minera (“AJAM”), and representatives of the local communities.

 

The Company has also entered into an acquisition option agreement with private owners to acquire their 100% interest in certain mineral concessions located adjacent to the Silver Sands project.  The owners are currently mining silver at a small scale on the concessions.  The Company expects to enter into additional acquisition option agreements with other private concession owners to further expand mineral concession area for the Silver Sand project.

 

ABOUT NEW PACIFIC

 

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosi Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China. Its largest shareholders are Silvercorp Metals Inc. (TSX/NYSE American: SVM), and Pan American Silver Corp. (TSX/NASDAQ: PAAS), one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosi­ Department of Bolivia.

 

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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary note regarding forward looking statements

 

This news release contains forward-looking statements regarding future events and the Company’s future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and applicable Canadian securities laws. These statements are based on current expectations, estimates, forecasts, and projections about the Company’s exploration projects, the industry in which the Company operates and the beliefs and assumptions of the Company's management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as the results of exploration activities and whether the results continue to support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption "Risk Factors" in our Annual Information Form for the fiscal year ended June 30, 2017, and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

New Pacific Reports Financial Results For the Three and Nine Months Ended March 31, 2018

VANCOUVER, BRITISH COLUMBIA – MAY 18, 2018: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its unaudited condensed consolidated interim financial results for the three and nine months ended March 31, 2018.

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements 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 (CAD) unless otherwise stated.

FINANCIALS

Net loss attributable to equity holders of the Company for the three months ended March 31, 2018 was $258,719 or $0.00 per share (three months ended March 31, 2017 - net income of $1,570,466 or $0.02 per share).  The Company’s financial results were mainly impacted by the following: (i) loss from investments of $35,551 compared to income of $2,420,122 in the prior year; (ii) foreign exchange gain of $474,432 compared to foreign exchange loss of $153,676 in the prior year; and, (iii) operating expenses of $748,893 compared to $698,410 in the prior year.

For the nine months ended March 31, 2018, net loss attributable to equity holders of the Company was $2,906,517 or $0.02 per share compared to net income of $2,924,118 or $0.04 per share for nine months ended March 31, 2017.

Loss from investments for the three months ended March 31, 2018 was $35,551 (three months ended March 31, 2017 - income of $2,420,122).  Within the loss from investments, loss of $76,987 from fair value change and interest earned on bonds was partially offset by gain of $40,235 on the Company’s equity investments.

For the nine months ended March 31, 2018, loss from investments was $543,962 compared to income of $3,741,354 for the nine months ended March 31, 2017.

Operating expenses for the three months ended March 31, 2018 were $748,893 (three months ended March 31, 2017 - $698,410).  For the nine months ended March 31, 2018, operating expenses were $2,487,090 (nine months ended March 31, 2017 - $1,350,664).  The increase in operating expenses was a result of the Company’s increased activity.

Foreign exchange gain for the three months ended March 31, 2018 was $474,432 (three months ended March 31, 2017 - foreign exchange loss of $153,676). 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 Canadian dollar will impact the financial results of the Company.  During the three months ended March 31, 2018, the US dollar appreciated by 2.8% against Canadian dollar (from 1.2545 to 1.2894) while during the three months ended March 31, 2017 the US dollar depreciated by 0.8% against Canadian dollar (from 1.3427 to 1.3322).

For nine months ended March 31, 2018, foreign exchange loss was $64,763 (nine months ended March 31, 2017 – foreign exchange gain of $445,152).

SILVER SAND PROJECT

The Company started the preparation work for the planned exploration program after the acquisition of the Silver Sand Project.  In October 2017, the Company successfully received exploration permits required by the relevant Bolivian government authorities and immediately commenced a 30,000 metre exploration drilling program on the property.  For the three and nine months ended March 31, 2018, total expenditures of $2,292,123 and $3,646,522, respectively, were capitalized under the property.  These expenditures were mainly related to the drilling program, site and camp preparation, maintaining a regional office in La Paz, and building a competent management team and workforce for the property.

ABOUT NEW PACIFIC

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

For further information, please contact:

New Pacific Metals Corp.
Investor Relations
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 press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information 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, 2017 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 press 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.