New Pacific Announces the Appointment of Dr. Peter Megaw as a Technical Advisor to the Company

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VANCOUVER, British Columbia – February 4, 2019 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the appointment of Dr. Peter Megaw, Ph.D., C.P.G., as a technical advisor to the Company with the primary objective of providing strategic and technical advice to senior management.

Dr. Megaw has a Ph.D. in geology from the University of Arizona and more than 35 years of relevant experience focused on silver and gold exploration.  He has been instrumental in a number of mineral discoveries including MAG Silver's Juanicipio and Cinco de Mayo Properties,  Excellon Resources' Platosa Mine, and new ore bodies at existing mines.  He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences.  Dr. Megaw was also awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, Mexico.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosí 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., and Pan American Silver Corp., one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosí Department of 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

 

Neither 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 release.

New Pacific Reports First Results from 2018 Drill Program at Silver Sand, Bolivia

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Near Surface Silver Mineralization Intercepted in 94 out of 98 holes;
Numerous Significant Intercepts include 76.63 metres grading 383 g/t

VANCOUVER, British Columbia – January 22, 2019
-- New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the first batch of drill results from its wholly-owned Silver Sand Project in Potosí Department, Bolivia.

The drilling program commenced in mid-October 2017.  A total of 55,010 metres in 195 HQ size diamond core drill holes had been completed by mid-December 2018.  The drill program covers an area of approximately 1,600 m long in the north-south direction and up to 800 m wide in the east-west direction.  The holes were drilled along northeast 60 degree oriented sections with a 50 m spacing between the sections.  Most drill holes are drilled at dip angle of 45 degrees to penetrate the principal trend of the mineralized structure zones with an average hole length of approximately 285 m.  To date, assay results of drill core samples of 98 holes have been received and analyzed, of which 94 holes intercepted silver mineralization.

Highlights of significant drill intersections are summarized as follows (for a detailed list, please refer to Table-1 – Composited Drill Intersections of Mineralization below):

·         Drill hole DSS525001, 135.72m @ 240 g/t Ag from 50.8m to 186.52m,

incl. 76.63m @ 383g/t Ag from 50.8m to 127.43m, and

incl. 7.64m @ 406g/t Ag from 178.88m to 186.52m;

·         Drill hole DSS525002, 273.94m @ 84g/t Ag from 0.92m to 274.86m,

incl. 13.44m @ 205g/t Ag from 86.3m to 99.74m, and

incl. 56.3m @ 216g/t Ag from 148.5m to 204.8m;

·         Drill hole DSS5803, 172m @ 110g/t Ag from 18.0m to 190.0m,

incl. 83.5m @ 192g/t Ag from 18.0m to 101.5m;

·         Drill hole DSS525009, 178.99m @ 96g/t Ag from 59.9m to 238.89m,

incl. 18.03m @ 362g/t Ag from 126.49m to 144.52m;

·         Drill hole DSS525010, 106.4m @ 154g/t Ag from 12.0m to 118.4m,

incl. 38.75m @ 165g/t Ag from 12.0m to 50.75m, and

incl. 4.03m @ 2,366g/t Ag from 92.43m to 96.46m;

·         Drill hole DSS5407, 76.03m @ 205g/t Ag from 64.07m to 140.10m,

incl. 60.89m @ 251g/t Ag from 64.07m to 124.96m;

·         Drill hole DSS665001, 89.77m @ 115g/t Ag from 44.23m to 134.1m,

incl. 4.45m @ 394g/t Ag from 44.23m to 48.68m,

incl. 37.15m @ 149g/t Ag from 58.0m to 95.15m, and

3.52m @ 430g/t Ag from 213.82m to 217.34m;

·         Drill hole DSS6603A, 65.25m @ 181g/t Ag from 7.9m to 73.15m,

incl. 32.0m @ 304g/t Ag from 7.9m to 39.9m;

·         Drill hole DSS6402, 157.68m @ 66g/t Ag from 18.1m to 175.78m,

incl. 26.16m @ 252g/t Ag from 74.22m to 100.38m;

·         Drill hole DSS645001, 85.54m @ 119g/t Ag from 27.46m to 113.0m,

incl. 26.04m @ 189g/t Ag from 27.46m to 53.5m, and

incl. 31.16m @ 156g/t Ag from 81.84m to 113.0m;

·         Drill hole DSS5806, 146.69m @ 63g/t Ag from 13.96m to 160.65m,

incl. 9.34m @ 208g/t Ag from 13.96m to 23.3m;

·         Drill hole DSS5404, 106.5m @ 86g/t Ag from 87.0m to 193.5m,

incl. 28.5m @ 220g/t Ag from 87.0m to 115.5m;

·         Drill hole DSS525003, 102m @ 82g/t Ag from 47.3m to 149.3m,

incl. 13.36m @ 475g/t Ag from 100.5m to 113.86m;

·         Drill hole DSS645002, 173.34m @ 48g/t Ag from 23.21m to 196.55m,

incl. 54.49m @ 111g/t Ag from 23.21m to 77.7m;

·         Drill hole DSS6608, 188.79m @ 43g/t Ag from 58.7m to 247.49m;

·         Drill hole DSS6201, 69.67m @ 116g/t Ag from 119.93m to 189.6m;

·         Drill hole DSS6403, 191.35m @ 42g/t Ag from 82.15m to 273.5m;

·         Drill hole DSS525005, 102.65m @ 66g/t Ag from 28.35m to 131.0m,

incl. 5.2m @ 342g/t Ag from 93.92m to 99.12m;

·         Drill hole DSS4603, 159.71m @ 41 g/t Ag from 41.59m to 201.3m,

incl. 6.23m @ 223g/t Ag from 97.77m to 104.0m, and

incl. 2.0m @ 522g/t Ag from 174.62m to 176.62m;

·         Drill hole DSS4804, 23.1m @ 138g/t Ag from 123.9m to 147.0m,

incl. 1.06m @ 1,070g/t Ag from 145.94m to 147.0m, and

20.0m @ 164g/t Ag, 3.62% Pb from 249.5m to 269.5m;

·         Drill hole DSS525004, 79.16m @ 78g/t Ag from 45.92m to 125.08m,

incl. 22.32m @ 118g/t Ag from 73.54m to 95.86m;

·         Drill hole DSS5601, 62.87m @ 96g/t Ag from 85.43m to153.0m,

·         Drill hole DSS545001, 62.6m @ 95g/t Ag from 63.83m to 126.43m,

incl. 14.71m @ 212g/t Ag from 97.16m to 111.87m;

·         Drill hole DSS4802,  21.09m @ 269g/t Ag from 92.45m to 113.54m,

incl. 2.33m @ 1,099g/t Ag from 92.45m to 94.78m;

·         Drill hole DSS6607, 122.72m @ 46g/t Ag from 28.4m to 151.12m, and

incl. 1.0m @ 2,530g/t Ag, 1.19% Pb, 1.05% Zn from 204.52m to 205.52m;

·         Drill hole DSS4604, 5.06m @ 1,104g/t Ag from 107.07m to 112.13m;

·         Drill hole DSS5003, 65.99m @ 83g/t Ag from 62.46m to 128.45m,

incl. 19.81m @ 175g/t Ag from 108.64m to 128.45m;

·         Drill hole DSS6202, 64.26m @ 84g/t Ag from 306.14m to 370.4m,

incl. 17.43m @ 183g/t Ag from 323.57m to 341.0m;

·         Drill hole DSS665003, 81.68m @ 65g/t Ag from 71.6m to 153.28m,

incl. 6.84m @ 229g/t Ag from 93.76m to 100.6m;

·         Drill hole DSS6401, 84.79m @ 58g/t Ag from 12.32m to 97.11m,

·         Drill hole DSS5202, 59.6m @ 82g/t Ag from 4.2m to 63.8m,

incl. 4.3m @ 311g/t Ag from 4.2m to 8.5m;

·         Drill hole DSS525008, 63.1 m @ 75g/t Ag from 1.7m to 64.8m,

incl. 6.7m @ 213g/t Ag from 49.7m to 56.4m;

·         Drill hole DSS7001, 60.32m @ 76g/t Ag from 70.03m to 130.35m,

incl. 32.77m @ 113g/t Ag from 90.36m to 123.13m;

·         Drill hole DSS6603, 15.93m @ 265g/t Ag from 7.17m to 23.1m (hole failed in mineralization);

·         Drill hole DSS6802, 69.06m @ 50g/t Ag from 86.17m to 156.3m,

incl. 7.64m @ 164g/t Ag from 86.17m to 93.81m;

·         Drill hole DSS525013, 25.13m @ 136g/t Ag from 39.57m to 64.7m;

·         Drill hole DSS525011, 54.3m @ 60g/t Ag from 144.0m to 198.3m,

incl. 3.5m @ 433g/t Ag from 169.6m to 173.1m;

·         Drill hole DSS6604, 56.79m @ 56g/t Ag from 0.0m to 56.79m,

incl. 25.22m @ 113g/t Ag from 31.57m to 56.79m; and

incl. 3.0m @ 779g/t Ag from 50.0m to 53.0m;

·         Drill hole DSS6801, 75.4m @ 42g/t Ag from 55.5m to 130.9m,

incl. 10.0m @ 130g/t Ag from 55.5m to 65.5m.

(True width of the mineralization is unknown, but based on the current understanding of the relationship between drill direction and the mineralized structures it is estimated that true width will approximate 80% of the down hole interval length.  Please refer to Table-1 – Composited Drill Intersections of Mineralization below for details.)

Based on the drilling results, the drill holes usually penetrate first through an up to 50 m thick layer of reddish siltstone and mudstone units of Cretaceous Tarapaya Formation, then into massive altered white colour arenites or sandstones units of the Cretaceous La Puerta Formation, where silver mineralization occurs.  At the contact of these two units, massive pyrite mineralization of less than two metres in thickness, typically occurs.  Tin mineralization in the district is often associated with massive pyrite.  At depth, many drill holes end at the reddish sandstones units of the Cretaceous La Puerta Formation.  This Cretaceous Formations sit unconformably on a basement of tightly folded and faulted Paleozoic marine clastic sediments.

The mineralized sandstone and siltstone units of the Cretaceous Formations are shallow dipping or sub-horizontal, and gently folded into open synclines and anticlines with their hinges shallowly plunging to North-North-West (“NNW”) direction.  To the north of Silver Sand, the Cretaceous sediments were intruded and cut by numerous porphyrytic dacitic sills and dykes of Miocene age, which are believed to be closely associated with silver mineralization in the district.

Silver mineralization is observed to be associated with fractures and alterations in the sandstones units, which were bleached white due to sericite alteration of original reddish sandstones, resulting in a sub-horizontal mineralizing zone of up to more than two hundred metres in thickness beneath the Tarapaya red siltstone and mudstone.  The mineralized fractures generally extend NNW, sub-vertically and slightly dipping west.  The mineralized bodies were detected by drilling within an area of up to 1,600 m long in north-south direction and 800 m wide in east-west direction within the Silver Sand property limit and remain open to both the north and the west.  Mineralizing bodies were oxidized to various extents to depth.

Silver mineralization is characterized by sheeted veins, stockwork veinlets, crackle veins and breccia zones of sulfosalts and sulfides containing silver in altered sandstones.  The most common silver-containing sulfosalt is freibergite, associated with a small amount of miargyrite, polybasite, bournonite, boulangerite, andorite and bismuthinite.

Using the section 60 as a dividing line, to its south, Tarapaya red siltstones and mudstones were mostly eroded away and massive whitish altered and fractured sandstones of the La Puerta Formation exposed at surface.  Extensive mining remains of adits, drifts and stopes of colonial times exist at the steep slopes and cliffs that have more than 150 m relief with the workings extending into the mountain.  Drilling in this area has hit many of these ancient underground workings.  Silver mineralization to the south of section 60 was outlined by drilling an area of approximately 500 m long and 150 m wide the altered quartz sandstones of the La Puerta Formation, extending from surface to a depth of more than 300 m.

To the north of section 60, drilling covered an area of approximately 1,100 m long north-south and 800 m wide in the east-west direction.  Drilling in this area intercepted mineralized fracture zones right beneath the Tarapaya reddish siltstones and mudstones.  The mineralization could extend from near surface to a depth up to more than 250 m.  In comparison to the south of section 60, only a few ancient underground mining workings were encountered during drilling.  Mineralization remains open along strike and at depth in both the southern area and the northern area.

Quality Assurance and Quality Control

HQ size drill core samples from altered and mineralized intervals were split into halves by diamond saw cutting with an average sample interval of one to one and half metres long at the Company’s core processing facility located in Betanzos, a local town 20 kilometres away from the project site.  Half core samples are stored in secured core storages for future reference, and the other half core samples were shipped in security sealed bags to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis with the code of OG46 for elements of silver, lead and zinc.  Silver overlimits further go to gravimetric analysis with the code of GRA21.

A standard quality assurance and quality control (“QAQC”) protocol was employed to monitor the quality of sample preparation and analysis.  Standards of certified reference materials, blanks and duplicates were inserted in normal core sample sequences prior to shipment to lab at a ratio of 20:1, i.e., every twenty samples contain at least one standard sample, one blank sample and one duplicate sample.  The assay results of QAQC samples did not show any significant bias of analysis or contamination during sample preparation.

Technical information contained in this news release with respect to New Pacific has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí 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 Potosí 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 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

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, 2018 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.

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.

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New Pacific Metals Expands Land Position for Silver Sand Project Through Mining Production Contract with COMIBOL

VANCOUVER, British Columbia – January 11, 2019 – Further to its press release of July 25, 2018, New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to announce that the Company, through its wholly-owned subsidiary, Empresa Minera Alcira S.A. (“Alcira”), has entered into a Mining Production Contract (the “MPC”) with Corporación Minera de Bolivia (“COMIBOL”) granting the Company the right to carry out exploration, mining, and production activities in the areas adjoining the Company’s Silver Sand Project located in the Potosí Department, Bolivia.  The MPC was approved by Bolivia’s Ministry of Mining and Metallurgy on January 7, 2019 and a signing ceremony is planned to be held in Potosí on January 14, 2019 where the Honourable César Navarro Miranda, the Minister of Bolivia’s Ministry of Mining and Metallurgy, Ing. Zelmar Andia, the President of COMIBOL, and Bernardo Peredo, Representative of the Embassy of Canada in Bolivia, among others, are anticipated to attend.  The MPC remains subject to ratification by the Plurinational Legislative Assembly of Bolivia which the parties expect to receive in due course.

Major Terms of the MPC

·         MPC covers an area of up to 56.9098 square kilometres, involving two separate areas.  The first area consists of 29 Special Temporary Authorizations (“ATEs”) located directly west of Silver Sand.  The second area may include an additional 201 mining grids or cuadrículas[1] to the north, the east and the south of Silver Sand.

·         MPC has a validity of 45 years which consists of three phases of 15 years each.  The first phase of the MPC will include five years of exploration, and, if applicable, environmental studies, engineering studies, pre-feasibility and feasibility studies as well as development and pilot production.  The second and third phases of the MPC will cover, full commercial production, environmental studies, and mine closure.

·         Alcira will commit to a minimum investment of USD 5,935,000 during the first five years of the MPC for mineral exploration and related activities.

·         If commercial production commences, COMIBOL will receive a 4% gross sales value of all minerals produced from the COMIBOL areas covered under the MPC.

“We are very pleased to have reached this historic agreement with COMIBOL,” said Dr. Rui Feng, CEO of New Pacific.  “This agreement adds significant exploration upside to our existing land holdings and raises the Silver Sand Project to a district scale operation.”

Gordon Neal, President of New Pacific said, “The MPC is a first of its kind agreement between a public resource company and the Bolivian government.  I commend the Minister of Mines and Metallurgy and the President of COMIBOL for committed focus to complete this transaction.  It is a benchmark achievement that shows that Bolivia is open to foreign investment.”

The Company is preparing information on the drilling program and work conducted on the Silver Sand project over the last several months and expects to announce results in stages over the next few weeks.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosí 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 Potosí Department of 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

 Neither 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 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, 2018 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 Metals Reports 2018 AGM Results

NEW PACIFIC METALS REPORTS 2018 AGM RESULTS

VANCOUVER, British Columbia – December 11, 2018 – 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, both dated October 25, 2018, were approved by the requisite majority of votes cast at the annual general meeting of the shareholders held on December 10, 2018 (the “AGM”).

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

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Shareholders, at the AGM, voted 99.98% in favour of approving the stock option plan. Shareholders also approved the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors.  Final results for all matters voted on at the AGM 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 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., and Pan American Silver Corp., 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

New Pacific Reports Financial Results for the Three Months Ended September 30, 2018

VANCOUVER, BRITISH COLUMBIA – November 20, 2018: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its unaudited condensed consolidated interim financial results for the three months ended September 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.

 

FINANCIALS

 

Net loss attributable to equity holders of the Company for the three months ended September 30, 2018 was $752,583 or $0.01 per share (three months ended September 30, 2017 - net loss of $1,551,099 or $0.01 per share). The Company’s financial results were mainly impacted by the following: (i) income from investments of $117,197 compared to loss of $576,944 in the prior year quarter, and, (ii) operating expenses of $531,273 compared to $507,450 in the prior year quarter.

 

Income from investments for the three months ended September 30, 2018 was $117,197 (three months ended September 30, 2017 – loss of $576,944).  Within the income from investments, $364,957 was loss on the Company’s equity investments and $480,839 was income from fair value change on bonds along with interest earned.

 

Operating expenses for the three months ended September 30, 2018 was $531,273 (three months ended September 30, 2017 - $507,450). 

 

Foreign exchange loss for the three months ended September 30, 2018 was $344,842 (three months ended September 30, 2017 - $469,304). 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 three months ended September 30, 2018, the US dollar depreciated by 1.7% against Canadian dollar (from 1.3168 to 1.2945) while in the prior year the US dollar depreciated by 3.8% against Canadian dollar (from 1.2977 to 1.2480).     

 

SILVER SAND PROPERTY

 

The Company started the preparation work for the planned exploration program after the acquisition of the Silver Sand Property.  In October 2017, the Company successfully received exploration permits required by the relevant Bolivian government authorities and immediately commenced its exploration drilling program on the property.  For the three months ended September 30, 2018, total expenditures of $3,179,963 were capitalized under the property.  The accumulated expenditures on the property since acquisition were approximately $9.7 million.  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. 

 

The Company also entered into agreements with private owners to acquire their 100% interest in certain mineral concessions located adjacent to the Silver Sand Property as part of the Company’s expansion plan in the area.  For the three months ended September 30, 2018, the Company acquired total mineral concessions valued at $2,631,200 (US$2,000,000) by cash payments of $1,315,600 (US$1,000,000) and issuance of 832,000 of its common shares.

 

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 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.