VANCOUVER, BRITISH COLUMBIA (February 28, 2012) â€"New Pacific Metals Corp. (TSX:NUX) (the "Company") announces a correction to its press release dated February 28, 2012 in regards of the Memorandum of Understanding;Â the correct disclosure is 4.83 million tonnes of mineralized material instead of the originally stated 483 million tonnes.
About New Pacific Metals Corp.
New Pacific Metals Corp. is a Canadian near-term gold and silver production mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company's current material project is the Tagish Lake Gold Property in Yukon Territory.Â With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.
For more information about New Pacific, visit New Pacificâ€™s website at www.newpacificmetals.com or contract New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: (604) 669-9397, Fax: (604) 669-9387, orÂ New Pacific Investor Relations at 604-633-1368 or send inquires to firstname.lastname@example.org Website: www.newpacificmetals.com
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Certain of the statements and information in this press release constitute â€œforward-looking informationâ€� 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 â€œexpectsâ€�, â€œis expectedâ€�, â€œanticipatesâ€�, â€œbelievesâ€�, â€œplansâ€�, â€œprojectsâ€�, â€œestimatesâ€�, â€œassumesâ€�, â€œintendsâ€�, â€œstrategiesâ€�, â€œtargetsâ€�, â€œgoalsâ€�, â€œforecastsâ€�, â€œobjectivesâ€�, â€œbudgetsâ€�, â€œschedulesâ€�, â€œpotentialâ€� or variations thereof or stating that certain actions, events or results â€œmayâ€�, â€œcouldâ€�, â€œwouldâ€�, â€œmightâ€� or â€œwillâ€� 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.Â Forward-looking statements or information relate to, among other things: the price of metals; the accuracy of mineral resource estimates at the Companyâ€™s material properties; the sufficiency of the Companyâ€™s capital to finance the Companyâ€™s operations; estimates of the Companyâ€™s capital expenditures; and timing of receipt of permits and other regulatory approvals.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: exploration and development risks associated with our mineral operations; permitting matters; calculations of mineral resources and corresponding grades; fluctuation in commodity prices; reliance on key personnel; government regulations; risks associated with acquisitions; environmental liability claims and insurance; the need for additional financing; title matters; the volatility of our common share price and volume; dilution; the absence of dividends; competition; and the potential for conflicts of interests among certain officers, directors or promoters with certain other projects.Â This list is not exhaustive of the factors that may affect any of the Companyâ€™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 Companyâ€™s Annual Information Form for the year ended June 30, 2011 under the heading â€œRisk Factorsâ€�.Â 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.Â Accordingly, readers should not place undue reliance on forward-looking statements or information.Â Â
The Companyâ€™s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or managementâ€™s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.