New Pacific Announces Offering Participation

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VANCOUVER, BRITISH COLUMBIA – October 11, 2019: New Pacific Metals Corp. ("New Pacific" or the "Company") is pleased to announce that Pan American Silver Corp. (“Pan American”) has indicated its intent to participate in the Company's bought deal offering (the "Offering"), announced on October 2, 2019, to maintain its pro rata interest of 16.79% of the outstanding common shares of the Company (the "Common Shares").

The Company also confirms that Silvercorp Metals Inc. (“Silvercorp”) has indicated its intent to participate in the Offering to maintain its pro rata interest of 28.93% of the outstanding Common Shares. Further to the Company's news release dated October 2, 2019, the Company wishes to clarify that it does not consider Silvercorp to be a control person of the Company.

The Offering is expected to close on or about October 25, 2019 and is subject to the Company receiving all necessary regulatory and stock exchange approvals.

Each of Pan American and Silvercorp are related parties of the Company for the purposes of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the acquisition by each of Pan American and Silvercorp of Common Shares pursuant to the Offering is a related party transaction. The acquisition by Pan American and Silvercorp of Common Shares pursuant to the Offering is exempt from the valuation and minority approval requirements of MI 61-101 pursuant to the exemptions in Sections 5.5(a) and 5.7(a) of MI 61-101.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States, absent such registration or an applicable exemption from such registration requirements.

About New Pacific Metals Corp.

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.

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 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 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 statements include obtaining required regulatory and stock exchange approvals required for the Offering; completion of the Offering; the closing date of the Offering and participation in the Offering.

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: the ability of the Company to close the Offering and the ability of the Company to obtain all stock exchange and regulatory approvals.

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.

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.

New Pacific Metals Corp. Announces C$15 Million Bought Deal Financing

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Vancouver, British Columbia (October 2, 2019) – New Pacific Metals Corp. (the “Company”) has announced today that it has entered into an agreement with BMO Capital Markets (“BMO”), as sole underwriter, under which BMO has agreed to buy on bought deal basis 3,750,000 common shares (the “Common Shares”), at a price of C$4.00 per Common Share for gross proceeds of approximately C$15 million (the “Offering”). The Company has granted BMO an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about October 25, 2019 and is subject to the Company receiving all necessary regulatory and stock exchange approvals.

Silvercorp Metals, Inc. (“Silvercorp”), a control person of the Company, has indicated its intent, by participating in the Offering, to maintain its pro rata interest of 28.93% of the outstanding Common Shares.

The net proceeds of the Offering will be used to advance exploration and development at the Company’s wholly-owned Silver Sand project, for other potential project acquisitions, for working capital, and for general corporate purposes.

The Common Shares will be offered by way of a short form prospectus in each of the provinces of Canada, excluding Quebec and may also be offered by way of private placement in the United States.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Silvercorp is a control person of the Company. Accordingly, Silvercorp is a related party of the Company for the purposes of National Instrument 61-101 — Protection of Minority Security Holders in Special Transactions ("NI 61-101") and the acquisition by Silvercorp of Common Shares pursuant to the Offering is a related party transactions. The acquisition by Silvercorp of Common Shares pursuant to the Offering is exempt from the valuation and minority approval requirements of NI 61-101 pursuant to the exemptions in Sections 5.5(a) and 5.7(a) of NI 61-101.

About New Pacific Metals Corp.

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 ten 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 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 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 statements include obtaining required regulatory and stock exchange approvals required for the Offering; completion of the Offering; the closing date of the Offering; the use of proceeds from the Offering; and the exercise of the over-allotment option granted to BMO.

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: the ability of the Company to close the Offering and the ability of the Company to obtain all stock exchange and regulatory approvals.

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.

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.

New Pacific Responds to Market Activity

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VANCOUVER, BRITISH COLUMBIA – September 24, 2019: New Pacific Metals Corp. (“New Pacific” or the “Company”) wishes to confirm that it is not aware of any material undisclosed information relating to the Company that would account for the trading activity occurring today in its common shares.  The Company is aware of a recent publication from GSA-Silver adding New Pacific to its model portfolio.  GSA-Silver is independent of the Company and its analysis reflects the author’s opinions. 

 

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. 

 

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

New Pacific Reports Financial Results for the Year Ended June 30, 2019

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VANCOUVER, BRITISH COLUMBIA – September 10, 2019: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its audited consolidated financial results for the year ended June 30, 2019.

This news 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 unless otherwise stated.


FISCAL 2019 HIGHLIGHTS

· Successfully completed the 2018 drill program on the Silver Sand Property.  A total of 55,010 metres in 195 HQ size diamond core drill holes had been completed.  For details of the 2018 drill program, please review the Company’s news releases dated January 22, 2019 and February 20, 2019;

· Expanded the Silver Sand Property by acquiring 100% interest of certain mineral concessions in the adjacent area; and

· Entered into a mining production contract (the “MPC”) with La Corporación Minera de Bolivia (“COMIBOL”) to explore and mine the area adjoining the Silver Sand Property.  COMIBOL is Bolivia’s state owned mining company in charge of managing certain mineral properties and mining production in Bolivia.  The MPC remains subject to ratification by the Plurinational Legislative Assembly of Bolivia.


FINANCIALS

Net loss attributable to equity holders of the Company for the year ended June 30, 2019 was $2,420,904 or $0.02 per share (year ended June 30, 2018 - net loss of $4,106,450 or $0.03 per share).  The Company’s financial results were mainly impacted by the following: (i) income from investments of $1,532,391 compared to loss of $1,539,759 in the prior year; (ii) operating expenses of $3,267,707 compared to $3,103,712 in the prior year; (iii) impairment of mineral property interests of $779,823 on the RZY Project compared to $nil in the prior year; and (iv) foreign exchange loss of $64,491 compared to foreign exchange gain of $470,966 in the prior year.

Income from investments for the year ended June 30, 2019 was $1,532,391 (year ended June 30, 2018 - loss of $1,539,759).  Within the income from investments, $77,173 was loss on the Company’s equity investments and $1,514,769 was income from fair value change on bonds and interest earned.

Operating expenses for the year ended June 30, 2019 was $3,267,707 (year ended June 30, 2018 - $3,103,712).   

Foreign exchange loss for the year ended June 30, 2019 was $64,491 (year ended June 30, 2018 - foreign exchange gain of $470,966).  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, 2019, the US dollar depreciated by 0.6% against Canadian dollar (from 1.3168 to 1.3087) while in the prior year the US dollar appreciated by 1.5% against Canadian dollar (from 1.2977 to 1.3168).    


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 2018 drill program on the property.  By mid-December 2018, a total of 55,010 metres in 195 HQ size diamond core drill holes had been completed.  On January 22 and February 20, 2019, through two separate news releases, the Company released the results of 195 drill holes that had assay results received and analyzed, of which 190 holes intercepted silver mineralization.  In April 2019, the Company commenced the 2019 drill program at the Silver Sand Property.  The total budgeted metreage for 2019 drill program is approximately 55,000 metres of diamond core drilling. 

For the year ended June 30, 2019, total expenditures of $10,725,924 (year ended June 30, 2018 - $6,553,301) were capitalized under the property for expenditures related to the 2018 and 2019 drill program, site and camp preparation, maintaining a regional office in La Paz, and building a management team and workforce for the property. 

As part of the Silver Sand Property’s expansion plan, on January 11, 2019, the Company entered into the MPC with COMIBOL to explore and mine the area adjoining the Silver Sand Property.  The MPC remains subject to ratification by the Plurinational Legislative Assembly of Bolivia.  In addition, in July 2018, the Company entered into an agreement with private owners to acquire their 100% interest in certain mineral concessions located adjacent to the Silver Sand Property.  For the year ended June 30, 2019, 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.


WARRANTS EXERCISE

On May 22, 2019, the Company raised gross proceeds of $19,950,000 as a result of 9,500,000 previously issued common share purchase warrants (the  “Warrants”) being exercised (the “Warrant Exercise”) by Pan American Silver Corp. (“Pan American”) and Silvercorp Metals Inc. (“Silvercorp”).   

The Warrants were issued in connection with the Company’s strategic private placement of units completed in November 2017 pursuant to which Pan American subscribed for 16,000,000 units and Silvercorp subscribed for 3,000,000 units.  Each unit was comprised of one common share of the Company (a “Common Share”) and one half of one Warrant.  Each whole Warrant was exercisable into one Common Share at an exercise price of $2.10 per Common Share.  For further details of the Warrant Exercise, please refer to the Company’s news release dated May 22, 2019. 


COZYSTAY SHARES

Further to the Company's news releases dated March 28, 2019 and April 1, 2019, the Company and Silvercorp have determined not to proceed with the sale of 750,750 shares of CozyStay Holdings Inc. by the Company to Silvercorp pursuant to the share purchase agreement entered into between the parties.


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. 


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

 

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.

 

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 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.

New Pacific Continues Reporting Wide Drill Intercepts at Silver Sand Including an Intercept of 93.5 Metres Grading 336 Grams per Tonne Silver

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Vancouver, British Columbia – August 27, 2019 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the assay results of the third batch of 20 drill holes from its wholly-owned Silver Sand Project located in the Department of Potosí, Bolivia.  The assay results continue to show wide intervals of silver mineralization. 

Since the release of assay results of second batch of 31 drill holes on August 6, 2019, the Company has received assay results of an additional 20 drill holes from Silver Sand Project which were drilled to infill the drill grid to a density of 25 metres by 25 metres to confirm continuity of mineralization in selected areas drilled in 2018.  Holes were approximately oriented at azimuths of 60 degrees with dips of -45 degrees normal to the strike and dip of mineralized structures.  All holes continuously intercept significant wide silver mineralization in fractures developed in bleached quartz sandstones.  Drill hole DSS522506 intersected the mineralized zone of 165.5m @ 204g/t Ag including a bonanza grade subzone of 45.0m @ 641g/t Ag.  The drill results indicate that high grade centres exist in broad 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 DSS522506, 165.5m @ 204g/t Ag from 73.8m to 239.3m,

      incl. 93.5m @ 336g/t Ag from 73.8m to 167.3m,

      incl. 45.0m @ 641g/t Ag from 116.3m to 161.3m;

·       Drill hole DSS427501, 75.8m @ 128g/t Ag from 71.1m to 146.9m,

      incl. 3.5m @ 746g/t Ag from 71.1m to 74.6m,

      incl. 10.3m @ 266g/t Ag from 87.5m to 97.8m,

      incl. 11.79m @ 293g/t Ag from 114.7m to 126.49m;

·       Drill hole DSS4408, 140.71m @ 109g/t Ag from 38.29m to 179.0m,

      incl. 14.24m @ 362g/t Ag from 38.29m to 52.53m,

      incl. 9.8m @ 548g/t Ag from 134.3m to 144.1m;

·       Drill hole DSS447502, 68.68m @ 153g/t Ag from 65.5m to 135.18m,

       incl. 4.5m @ 1,140g/t Ag from 66.5m to 71.0m,

       incl. 3.25m @ 851g/t Ag from 87.75m to 91.0m;

·       Drill hole DSS5213, 179.9 m @ 88g/t Ag from 61.9m to 241.8m incl. 0.75m mined out,

       incl. 17.1m @ 265g/t Ag from 114.9m to 132.0m,

       incl. 13.17m @ 339g/t Ag from 173.98m to 187.15m;

·       Drill hole DSS5214, 109.75m @ 96g/t Ag from 51.6m to 161.35m,

incl. 14.15m @ 250g/t Ag from 54.35m to 68.5m,

incl. 16.5m @ 228g/t Ag from 87.3m to 103.8m;

(True width of the mineralization is unknown, but based on the current understanding of the relationship between drill hole 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.)

To expedite drilling at Silver Sand, a fourth rig has arrived on site and has commenced drilling.  An initial NI 43-101 resource estimate is expected by the end of this year. 

Quality Assurance and Quality Control

HQ-size drill core samples from altered and mineralized intervals were split into halves by diamond saw, with an average sample length of between one to one and half metres at the Company’s core processing facility located in Betanzos, a small town located 20 kilometres from the project site.  Half core samples are stored in a secure core storage facility in Betanzos for future reference, and the other half core samples are 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 was employed to monitor the quality of sample preparation and analysis.  Standards of certified reference materials and blanks were inserted in normal core sample sequences prior to shipment to 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 will be sent to a second internationally accredited lab for check analysis.  The assay results of QAQC samples of standards and blanks 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.

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.  New Pacific has Silvercorp Metals Inc. (TSX/NYSE American: SVM) and Pan American Silver Corp. (TSX/NASDAQ: PAAS) as its 28% and 16.8% shareholders, respectively.

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 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.

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 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.

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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Correction to News Release Dated August 20, 2019

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VANCOUVER, British Columbia – August 23, 2019 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (the “Company”) announces that the original news release captioned “New Pacific reports high recovery of silver from various metallurgical processes for sulphide, transition and oxide styles of mineralization from Silver Sand, Bolivia” published on August 20, 2019 referred, incorrectly, to the following:

  1. Under the “Highlights of the Completed Test Program” on page 1, the value for column leaching extraction rate for silver under the third bullet point should be 88.3% rather than 82%.

  2. Table 4 – Bottle Roll Test Summary:  the consumption of NaCN for HG Oxide (Z1 LEACHMET 4) should be 5.08 kg/t rather than 3.94 kg/t. 

  3. Table 5 – Column Leach Test Results Summary:  the Composite ID for second and third rows should be swapped to match with the data presented. This means that Z1 LEACHMET 1 and Z1 LEACHMET 4 should be in the second and third row respectively. 

Below is the corrected news release in its entirely with the relevant updates.

NEW PACIFIC REPORTS HIGH RECOVERY OF SILVER FROM
VARIOUS METALLURGICAL PROCESSES FOR SULPHIDE, TRANSITION AND
OXIDE STYLES OF MINERALIZATION FROM SILVER SAND, BOLIVIA

New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (the “Company”) is pleased to announce the final results of a preliminary metallurgical test work program for its Silver Sand Project. The Company is very pleased with the positive results achieved so far from the completed test work. The results suggest that the mineralized materials from the Silver Sand Project would be amenable to processing using conventional flotation or whole ore cyanidation at atmospheric pressure at large scale. This preliminary metallurgical program has demonstrated that good silver extraction rates are possible using these simple extraction methods and that further improvements and refinements should be possible in future programs after fine-tuning the various test parameters.

HIGHLIGHTS OF THE COMPLETED TEST PROGRAM

· Composite samples of sulphide, transition and oxide mineralization were submitted for laboratory-scale rougher-scavenger flotation testing and this achieved up to 96.0%, 86.8% and 92.0% silver recovery respectively.

· Composite samples of sulphide, transition and oxide mineralization were submitted for bottle roll cyanidation testing and this achieved up to 96.7%, 97.0% and 96.3% silver extraction respectively.

· Samples of oxide mineralization were submitted for coarse column leach cyanidation testing and this achieved up to 88.3% silver extraction.

· High recoveries achieved during cyanidation tests indicate that silver-bearing minerals within the sulphide and transition composite samples tested can be considered non-refractory in nature.

· Composite samples were found to be mostly in the soft to medium grindability range with low to medium values of abrasion index.

METALLURGICAL TEST WORK DETAILS

Several metallurgical composites of oxide, transition and sulphide mineralization from two areas of the Silver Sand deposit were prepared from samples of available half-core. A geometallurgical sampling approach was used and was designed to highlight the effect of differences in silver grade, degree of oxidation and lithology.

Four independent geo-metallurgical test work programs (mineral characterization, comminution, froth flotation and cyanide leaching) were carried out on the different metallurgical composites. Six metallurgical domains (MET1 to MET6) were identified for the flotation and leaching test work and six geological domains (GEO1 to GEO6) were branded for the comminution test work.

Comminution, flotation and leaching programs were completed by SGS Mineral Services in Lima, Peru, while the mineral characterization work was completed by the Research Centre for Mining and Metallurgy (CIMM) and Oruro Technical University (OTU) in Bolivia. Results from the individual test work programs are summarized below.

Mineral Characterization

Mineral characterization work consisted of size fraction assaying, heavy liquids testing and a preliminary program of quantitative mineralogy. The mineral characterization and Sink & Float tests are designed to assess the mineral response to gravity separation.

Size Fraction Assaying:

Twelve crushed composites were screened into seven size fractions, and each fraction was individually assayed to obtain a distribution of silver by size. Figure 1 shows the results and illustrates that for almost every composite, the silver tends to concentrate into the finest size fraction (-74 microns). This concentration effect gives rise to an upgrade in silver content of approximately 2.5 to 3 times within that fraction – a potentially useful processing characteristic.

img1.jpg

Figure 1 - Silver Distribution by Size Fraction

Heavy Liquid Testing:

Six of the composites (high and low grade oxide, transition and sulphide mineralization) were sized into seven fractions each, and these were then subjected to a simple gravity separation using heavy liquid at a density of 2.58 kg/l. On average for all composites, roughly 46% of the total silver was concentrated into 15% of the mass as a “dense” (>2.58 kg/l) fraction. Importantly however, this effect was far more pronounced on average within certain size fractions, as shown in Figure 2 below, with roughly 80% of silver concentrated into less than 20% of the mass (in the 595 to 74-micron range).

The gravity concentration effect was not seen in the coarser size fractions (+595 micron), likely due to insufficient liberation of silver minerals in these size fractions.

img2.jpg

Figure 2 – Average Mass & Silver Recovery in the >2.58 kg/l Density Class

Comminution Testing

Four geological domain composites were subjected to a program of comminution scoping tests, including Crushing Work Index (CWi), Bond Ball Mill Work Index (BWi) and Abrasion Index (Ai). Twenty-one samples were tested in total. CWi tests reported energy consumptions between 4.8 and 11.3kWh/t, while the BWi measurements were from 4.8 to 15.9kWh/t with only one sample above 14 kWh/t. Thus, the majority of the samples tested fell into the category of soft or medium competency level for crushing and grinding. These early indications suggest that relatively low capital and operating costs could be anticipated for any potential comminution circuits. The reported values of abrasion index of between 0.06g and 0.54g corresponds to low to medium abrasivity for these samples. Sulphide materials reported the highest values in the range of medium abrasion behaviour, while the oxides were generally the lowest.

Flotation Testing

Three metallurgical composites of oxide, transition and sulphide mineralization were prepared for a program of froth flotation scoping work, consisting of 23 bench scale rougher-scavenger tests using a variety of conditions (grind sizes, reagent types, reagent dosages and, slurry pH). Composite grades are shown in Table 1 below.

table1.JPG

In general, the flotation performance of these composites was very good, with high silver recoveries achieved using Potassium Amyl Xanthate (PAX) as the primary mineral collector. Silver recoveries of up to 96% for the sulphide composite and 86.8% for the transition composite were reported using this simple approach. Silver recovery appeared to be relatively insensitive to pulp pH although finer grinds and the addition of a secondary collector appeared to give marginal increases in metallurgical performance for the transition composite.

table2.JPG

The oxide composite also responded well to standard sulphide flotation conditions with silver recoveries in the 90% range. Maximum recoveries were achieved using nitrogen gas for oxide composite flotation, although this slight improvement appears to have been achieved primarily as a result of higher concentrate mass pull.   

These initial scoping tests show that silver minerals can be efficiently concentrated using relatively simple froth flotation conditions. Flotation concentrates containing 2,500 – 3,000 g/t silver were produced without using a cleaner flotation stage.

Bottle Roll Leach Testing

Four metallurgical composites of oxide, transition and sulphide mineralization were prepared for cyanide leaching test work as summarized in Table 3. The bottle roll test work program comprised of a battery of 33 individual scoping tests, each running for 72 hours and using a variety of conditions (grind sizes, cyanide solution strength, oxygen levels, and temperatures) to assist begin definition of the metallurgical characterization of Silver Sand mineralization.

table3.JPG

A variety of results were obtained from the work. A summary of the better data points is presented in Table 4 below.

table4.JPG

Very high silver extractions (greater than 96%) were achieved for the sulphide and transition composites when intensive cyanidation conditions were used (oxygen sparging plus elevated pulp temperature). Oxide composite performance was more variable, with silver extractions between 81 and 96% achieved under similar conditions.

These leaching results are in general very encouraging and further optimization test work is recommended to better characterize the deposit.

Column Leach Testing

Column leach tests were completed on the two oxide samples, using coarser material than the bottle roll work (crushed to 100% passing 1/2”). Each column test ran for 75 days and the dissolved oxygen (DO) level was maintained throughout all tests.

table5.JPG
img3.jpg

Technical information contained in this news release has been approved by Andy Holloway, P.Eng., CEng., Principal Process Engineer at AGP Mining Consultants Inc., 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. 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, 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.





Dr. Rui Feng, CEO of New Pacific, Donates 200,000 Shares to BC Parks Foundation

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Vancouver, British Columbia – August 22, 2019 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce that Dr. Rui Feng, CEO and Director of the Company, has donated 200,000 shares of the Company to BC Parks Foundation, a registered non-profit organization (the “Foundation”).  

The Foundation’s mission is to enhance and pass on the legacy of British Columbia’s world class parks by catalyzing support and resources so that they flourish forever.  The Foundation’s primary role is to promote and support public interest, engagement and involvement in parks and encourage others to contribute.    

Dr. Feng’s donation will help the Foundation to enhance and protect British Columbia’s parks, wildlife, habitat, and ecosystems from pollution and climate change. 

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.  New Pacific has Silvercorp Metals Inc. (TSX/NYSE American: SVM) and Pan American Silver Corp. (TSX/NASDAQ: PAAS) as its 28% and 16.8% shareholders.

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.

New Pacific Reports High Recovery of Silver from Various Metallurgical Processes for Sulphide, Transition and Oxide Styles of Mineralization from Silver Sand, Bolivia

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VANCOUVER, British Columbia – August 20, 2019 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (the “Company”) is pleased to announce the final results of a preliminary metallurgical test work program for its Silver Sand Project. The Company is very pleased with the positive results achieved so far from the completed test work. The results suggest that the mineralized materials from the Silver Sand Project would be amenable to processing using conventional flotation or whole ore cyanidation at atmospheric pressure at large scale. This preliminary metallurgical program has demonstrated that good silver extraction rates are possible using these simple extraction methods and that further improvements and refinements should be possible in future programs after fine-tuning the various test parameters.

HIGHLIGHTS OF THE COMPLETED TEST PROGRAM

·         Composite samples of sulphide, transition and oxide mineralization were submitted for laboratory-scale rougher-scavenger flotation testing and this achieved up to 96.0%, 86.8% and 92.0% silver recovery respectively.

·         Composite samples of sulphide, transition and oxide mineralization were submitted for bottle roll cyanidation testing and this achieved up to 96.7%, 97.0% and 96.3% silver extraction respectively.

·         Samples of oxide mineralization were submitted for coarse column leach cyanidation testing and this achieved up to 82% silver extraction.

·         High recoveries achieved during cyanidation tests indicate that silver-bearing minerals within the sulphide and transition composite samples tested can be considered non-refractory in nature.

·         Composite samples were found to be mostly in the soft to medium grindability range with low to medium values of abrasion index.

METALLURGICAL TEST WORK DETAILS

Several metallurgical composites of oxide, transition and sulphide mineralization from two areas of the Silver Sand deposit were prepared from samples of available half-core. A geometallurgical sampling approach was used and was designed to highlight the effect of differences in silver grade, degree of oxidation and lithology.

Four independent geo-metallurgical test work programs (mineral characterization, comminution, froth flotation and cyanide leaching) were carried out on the different metallurgical composites. Six metallurgical domains (MET1 to MET6) were identified for the flotation and leaching test work and six geological domains (GEO1 to GEO6) were branded for the comminution test work.

Comminution, flotation and leaching programs were completed by SGS Mineral Services in Lima, Peru, while the mineral characterization work was completed by the Research Centre for Mining and Metallurgy (CIMM) and Oruro Technical University (OTU) in Bolivia. Results from the individual test work programs are summarized below.

Mineral Characterization

Mineral characterization work consisted of size fraction assaying, heavy liquids testing and a preliminary program of quantitative mineralogy. The mineral characterization and Sink & Float tests are designed to assess the mineral response to gravity separation.

Size Fraction Assaying:

Twelve crushed composites were screened into seven size fractions, and each fraction was individually assayed to obtain a distribution of silver by size. Figure 1 shows the results and illustrates that for almost every composite, the silver tends to concentrate into the finest size fraction (-74 microns). This concentration effect gives rise to an upgrade in silver content of approximately 2.5 to 3 times within that fraction – a potentially useful processing characteristic.

img1.jpg

Figure 1 - Silver Distribution by Size Fraction

Heavy Liquid Testing:

Six of the composites (high and low grade oxide, transition and sulphide mineralization) were sized into seven fractions each, and these were then subjected to a simple gravity separation using heavy liquid at a density of 2.58 kg/l. On average for all composites, roughly 46% of the total silver was concentrated into 15% of the mass as a “dense” (>2.58 kg/l) fraction. Importantly however, this effect was far more pronounced on average within certain size fractions, as shown in the chart below, with roughly 80% of silver concentrated into less than 20% of the mass (in the 595 to 74-micron range).

The gravity concentration effect was not seen in the coarser size fractions (+595 micron), likely due to insufficient liberation of silver minerals in these size fractions.

img2.jpg

Figure 2 – Average Mass & Silver Recovery in the >2.58 kg/l Density Class

Comminution Testing

Four geological domain composites were subjected to a program of comminution scoping tests, including Crushing Work Index (CWi), Bond Ball Mill Work Index (BWi) and Abrasion Index (Ai). Twenty-one samples were tested in total. CWi tests reported energy consumptions between 4.8 and 11.3kWh/t, while the BWi measurements were from 4.8 to 15.9kWh/t with only one sample above 14 kWh/t. Thus, the majority of the samples tested fell into the category of soft or medium competency level for crushing and grinding. These early indications suggest that relatively low capital and operating costs could be anticipated for any potential comminution circuits. The reported values of abrasion index of between 0.06g and 0.54g corresponds to low to medium abrasivity for these samples. Sulphide materials reported the highest values in the range of medium abrasion behaviour, while the oxides were generally the lowest.

Flotation Testing

Three metallurgical composites of oxide, transition and sulphide mineralization were prepared for a program of froth flotation scoping work, consisting of 23 bench scale rougher-scavenger tests using a variety of conditions (grind sizes, reagent types, reagent dosages and, slurry pH). Composite grades are shown in Table 1 below.

img3.JPG

In general, the flotation performance of these composites was very good, with high silver recoveries achieved using Potassium Amyl Xanthate (PAX) as the primary mineral collector. Silver recoveries of up to 96% for the sulphide composite and 86.8% for the transition composite were reported using this simple approach. Silver recovery appeared to be relatively insensitive to pulp pH although finer grinds and the addition of a secondary collector appeared to give marginal increases in metallurgical performance for the transition composite.

img4.JPG

The oxide composite also responded well to standard sulphide flotation conditions with silver recoveries in the 90% range. Maximum recoveries were achieved using nitrogen gas for oxide composite flotation, although this slight improvement appears to have been achieved primarily as a result of higher concentrate mass pull.  

These initial scoping tests show that silver minerals can be efficiently concentrated using relatively simple froth flotation conditions. Flotation concentrates containing 2,500 – 3,000 g/t silver were produced without using a cleaner flotation stage.

Bottle Roll Leach Testing

Four metallurgical composites of oxide, transition and sulphide mineralization were prepared for cyanide leaching test work as summarized in Table 3. The bottle roll test work program comprised of a battery of 33 individual scoping tests, each running for 72 hours and using a variety of conditions (grind sizes, cyanide solution strength, oxygen levels, and temperatures) to assist begin definition of the metallurgical characterization of Silver Sand mineralization.

img5.JPG

A variety of results were obtained from the work. A summary of the better data points is presented in Table 4 below.

img6.JPG

Very high silver extractions (greater than 96%) were achieved for the sulphide and transition composites when intensive cyanidation conditions were used (oxygen sparging plus elevated pulp temperature). Oxide composite performance was more variable, with silver extractions between 81 and 96% achieved under similar conditions.

These leaching results are in general very encouraging and further optimization test work is recommended to better characterize the deposit.

Column Leach Testing

Column leach tests were completed on the two oxide samples, using coarser material than the bottle roll work (crushed to 100% passing 1/2”). Each column test ran for 75 days and the dissolved oxygen (DO) level was maintained throughout all tests.

img7.JPG
img8.jpg

Technical information contained in this news release has been approved by Andy Holloway, P.Eng., CEng., Principal Process Engineer at AGP Mining Consultants Inc., 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. 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, contact:
New Pacific Metals Corp.
President: Gordon Neal
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.

New Pacific Reports Continued Exploration Success at Silver Sand Including Wide Mineralization Intercept of 104.5 Metres Grading 183 Grams per Tonne Silver

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Vancouver, British Columbia – August 6, 2019 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the assay results of the second batch of 32 drill holes from its wholly-owned Silver Sand Project located in the Department of Potosí, Bolivia.  The assay results continue to show wide intervals of silver mineralization.  Currently there are three rigs operating on site with a fourth rig to arrive in August to expedite drilling at Silver Sand.  Of the 32 drill holes, 19 holes were drilled to infill the drill grid to a density of 25 metres by 25 metres to confirm continuity of mineralization in selected areas drilled in 2018, and 13 holes were drilled step-out to the north testing extension of known mineralized zones.  Holes were approximately oriented at azimuths of 60 degrees with dips of -45 degrees normal to the strike and dip of mineralized structures.  

All the infill drill holes intercepted significant silver mineralization in mineralized fracture zones similar to those seen in the assay results for those holes completed in 2018 drill campaign and ongoing 2019 drill campaign; the first drill results of which were released on June 6, 2019.  Holes drilled to the south of section 60 have encountered  mined out intervals within zones of wide silver mineralization where higher grade silver may have been selectively mined out in the past.  The step-out drill holes to the north of section 44 on the eastern side of the mineral deposit also intercepted significant silver mineralization evidenced by the wide intercepts in holes DSS4006 grading 174 g/t silver over 42.4 m and DSS422501 grading 183 g/t silver over 104.5 m, indicating that mineralization is open to the north.

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 DSS4006, 42.4m @ 174g/t Ag from 108.1m to 150.5m;

·         Drill hole DSS422501, 104.5m @ 183g/t Ag from 41.7m to 146.2m,

      incl. 65.98m @ 282g/t Ag from 80.25m to 146.2m;

·         Drill hole DSS427502, 153.57m @ 98g/t Ag from 56.93m to 210.5m,

      incl. 5.55m @ 1475g/t Ag from 82.38m to 87.93m,

      incl. 6.0m @ 681g/t Ag from 167.0m to 173.0m;

·         Drill hole DSS522503, 181.27mm @ 100g/t Ag from 62.95m to 244.22m,

       incl. 94.18m @ 177g/t Ag from 128.05m to 222.23m,

       incl. 16.68m @ 754g/t Ag from 205.55m to 222.23m;

·         Drill hole DSS505012, 104.18 m @ 71g/t Ag from 84.48m to 188.66m,

       incl. 31.47m @ 109g/t Ag from 84.48m to 115.95m;

·         Drill hole DSS507501, 114.4m @ 76g/t Ag from 67.9m to 182.3m

incl. 4.82m @ 976g/t Ag from 168.18m to 173.0m;

·         Drill hole DSS507502, 83.42m @ 116g/t Ag from 82.1m to 165.52m,

      incl. 26.55m @ 242g/t Ag from 82.1m to 108.65m;

      incl. 20.14m @ 155g/t Ag from 145.38m to 165.52m;

·         Drill hole DSS507503, 57.36m @ 354g/t Ag from 98.5m to 155.86m,

      incl. 18.44m @ 403g/t Ag from 98.5m to 116.94m,

       incl. 3.6m @ 3378g/t Ag from 142.7m to 146.3m;

·         Drill hole DSS627501, 177.19m @ 67g/t Ag from 4.03m to 181.22m incl. 36.53m mined out,
                  28.47m @ 161g/t Ag from 4.03m to 32.5m incl. 1.1m mined out,

                   2.22m @ 965g/t Ag from 179.0m to 181.22m;

(True width of the mineralization is unknown, but based on the current understanding of the relationship between drill hole 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.)

With the continued exploration success, the Company has engaged AMC Mining Consultants (Canada) Ltd. to undertake an initial resource estimate for the Silver Sand Project.

Quality Assurance and Quality Control

HQ-size drill core samples from altered and mineralized intervals were split into halves by diamond saw, with an average sample length of between one to one and half metres at the Company’s core processing facility located in Betanzos, a small town located 20 kilometres from the project site.  Half core samples are stored in a secure core storage facility in Betanzos for future reference, and the other half core samples are 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 was employed to monitor the quality of sample preparation and analysis.  Standards of certified reference materials and blanks were inserted in normal core sample sequences prior to shipment to 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 will be sent to a second internationally accredited lab for check analysis. The assay results of QAQC samples of standards and blanks 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.

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.  New Pacific has Silvercorp Metals Inc. (TSX/NYSE American: SVM) and Pan American Silver Corp. (TSX/NASDAQ: PAAS) as its 28% and 16.8% shareholders.

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 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.

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 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.

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 Reports First Results from 2019 Drill Program at Silver Sand, Boliva – Continuing Intersection Wide Silver Mineralization near Surface Including 169 G/T Silver over 144.2M

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VANCOUVER, British Columbia – June 6, 2019 -- New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the assay results from the first eight drill holes from its wholly-owned Silver Sand Project located in the Department of Potosí, Bolivia.  Drilling is on-going and the Company currently has three drill rigs on site.

The 2019 drilling program at Silver Sand commenced in late April and is expected continue throughout rest of the year.  These first eight holes were part of the infill drilling program to bring drill hole density to approximately 25 metre by 25 metre spacing and to produce a mineral resource estimate in accordance with NI 43-101 at the end of 2019.  These holes were approximately oriented at azimuths of 60 degrees and dips of -45 degrees.

These first eight infill holes have intercepted significant silver mineralization similar to those reported from the 2018 drilling program, and adequately confirms the continuity of mineralization within the drilled extents.

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 DSS522501, 144.2m @ 169g/t Ag from 65.22m to 209.44m,

incl. 73.21m @ 243g/t Ag from 65.22m to 138.43m;

·         Drill hole DSS522502, 110.28m @ 98g/t Ag from 48.07m to 158.35m,

incl. 9.05m @ 609g/t Ag from 149.3m to 158.35m;

·         Drill hole DSS525014, 76.32m @ 150g/t Ag from 48.7m to 125.02m, and

          12.66m @ 99g/t Ag from 171.19m to 183.85m;

·         Drill hole DSS6404, 119.18m @ 103g/t Ag from 10.22m to 129.4m,

incl. 3.17m @ 1653g/t Ag from 61.56m to 64.93m;

·         Drill hole DSS642501, 114.23m @ 117g/t Ag from 23.15m to 137.38m,

incl. 8.28m @ 265g/t Ag from 23.15m to 31.43m, and

incl. 6.89m @ 313g/t Ag from 46.20m to 53.09m, and

incl. 3.17m @ 1105g/t Ag from 103.83m to 107.0m, and

         7.0m @ 106g/t Ag from 235.5m to 242.5m.

(True width of the mineralization is unknown, but based on the current understanding of the relationship between drill hole 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 multi-element analysis results of grab samples taken from surface mining dumps and chip samples from surface outcrops as well as underground mining faces, it came to the Company’s attention that silver mineralization at Silver Sand locally contains significant amounts of indium (In) and gallium (Ga).  This mineral association is also common in other prospects with similar characteristics of mineralization in the same district and other deposits in the same metallogenic belt.  The assay results of indium and gallium, along with silver, lead and zinc are reported in Table-1 of Composited Drill Intersections of Mineralization at the end of this release.

In additional to the infill drilling targets, the 2019 drilling program will also include the following targets: 1) prospects with good silver grades from historical artisanal mining dumps to expand the mineralization zones at the Silver Sand; 2) prospects surrounding Silver Sand showing similar silver mineralization as revealed by historical artisanal mining, and 3) drilling for samples for further metallurgical test work. 

Quality Assurance and Quality Control

HQ-size drill core samples from altered and mineralized intervals were split into halves by diamond saw, with an average sample length of between one to one and half metres at the Company’s core processing facility located in Betanzos, a small town 20 kilometres from the project site.  Half core samples are stored in a secure core storage facility in Betanzos for future reference, and the other half core samples were 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 overlimits for silver, lead and zinc further analyzed using ALS code OG46.  Further silver overlimits are analyzed by gravimetric analysis (ALS 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 and blanks 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 and one blank sample.  Duplicate samples of coarse rejects at a ratio of 20:1 will be sent to a second internationally accredited lab for check analysis.  The assay results of QAQC samples of standards and blanks 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 ten 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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