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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New Pacific Reports Financial Results for the Three and Nine Months Ended March 31, 2019

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VANCOUVER, BRITISH COLUMBIA – May 27, 2019: New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) today announced its unaudited condensed consolidated interim financial results for the three and nine months ended March 31, 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.

FINANCIALS

Net loss attributable to equity holders of the Company for the three months ended March 31, 2019 was $359 or $0.00 per share (three months ended March 31, 2018 - net loss of $258,719 or $0.00 per share).  The Company’s financial results were mainly impacted by the following: (i) income from investments of $1,552,446 compared to loss of $35,551 in the prior year quarter, (ii) operating expenses of $1,128,183 compared to $748,893 in the prior year quarter, and (iii) foreign exchange loss of $431,492 compared to gain of $474,432 in the prior year quarter.

For the nine months ended March 31, 2019, net loss attributable to equity holders of the Company was $279,104 or $0.00 per share compared to net loss of $2,906,517 or $0.02 per share for the nine months ended March 31, 2018. 

Income from investments for the three months ended March 31, 2019 was $1,552,446 (three months ended March 31, 2018 – loss of $35,551).  Within the income from investments, $464,481 was gain on the Company’s equity investments and $1,064,994 was gain from fair value change and interest earned on bonds.

For the nine months ended March 31, 2019, income from investments was $1,735,569 compared to loss of $543,962 for the nine months ended March 31, 2018.

Operating expenses for the three and nine months ended March 31, 2019 were $1,128,183 and $2,318,178, respectively (three and nine months ended March 31, 2018 – $748,893 and $2,487,090, respectively).  

Foreign exchange loss for the three months ended March 31, 2019 was $431,492 (three months ended March 31, 2018 – gain of $474,432).  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 the Canadian dollar will impact the financial results of the Company.  During the three months ended March 31, 2019, the US dollar depreciated by 2% against the Canadian dollar (from 1.3642 to 1.3363) while in the prior year period the US dollar appreciated by 2.8% against the Canadian dollar (from 1.2545 to 1.2894).

For the nine months ended March 31, 2109, foreign exchange gain was $288,945 (nine months ended March 31, 2018 –$64,763).   

SILVER SAND PROPERTY

For the three and nine months ended March 31, 2019, total expenditures of $1,040,108 and $7,634,047, respectively (three and nine months ended March 31, 2018 - $2,292,123 and $3,646,522, respectively) were capitalized under the Silver Sand Property.  These expenditures were mainly related to the 2018 drill program, site and camp preparation, maintaining a regional office in La Paz, and building a competent management team and workforce for the property.  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 further details of the 2019 drill program and acquisition of land to build an exploration camp for the Silver Sand Property, please refer to the Company’s news release dated April 25, 2019.

Additionally, as previously announced in the Company’s news release dated January 11, 2019, the Company entered into a mining production contract (the “MPC”) with COMIBOL to explore the area adjoining the Silver Sand Property.  The MPC remains subject to ratification by the Plurinational Legislative Assembly of Bolivia. 

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.   


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 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 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 Raises $19,950,000 from Exercise of Warrants by Pan American Silver and Silvercorp

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VANCOUVER, BRITISH COLUMBIA – May 22, 2019 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) is pleased to announce that it has 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.   

Early Warning Report Information

Pan American

Prior to the Warrant Exercise, Pan American held approximately 12% of the total number of issued and outstanding Common Shares on a non-diluted basis, and approximately 16% of the issued and outstanding Common Shares on a fully-diluted basis, assuming the exercise of the Warrants then held by Pan American.  Immediately following the Warrant Exercise, Pan American directly owned 24,000,000 Common Shares, including 16,000,000 previously acquired Common Shares pursuant to the November 2017 private placement and 8,000,000 Common Shares acquired through the Warrant Exercise, representing approximately 16.85% of the total number of issued and outstanding Common Shares on a non-diluted basis, and approximately 16.20% of the issued and outstanding Common Shares on a fully-diluted basis.

Pan American’s acquisition of the additional Common Shares was made for investment purposes, and it may, in the future, acquire ownership and control over additional securities of New Pacific for investment purposes. 

The foregoing disclosure regarding Pan American’s holdings is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.  A copy of the early warning report will be filed on the System for Electronic Document Analysis and Review (SEDAR) under New Pacific's profile at www.sedar.com and may be obtained by contacting Ms. Siren Fisekci, VP, Investor Relations for Pan American, at 604-684-1175. 

Silvercorp

Prior to the Warrant Exercise, Silvercorp held approximately 29.81% of the total number of issued and outstanding Common Shares on a non-diluted basis, and approximately 27.76% of the issued and outstanding Common Shares on a fully-diluted basis, assuming the exercise of the Warrants then held by Silvercorp.  Immediately following the Warrant Exercise, Silvercorp owned, directly or indirectly, 41,096,300 Common Shares, including 3,000,000 previously acquired Common Shares pursuant to the November 2017 private placement and 1,500,000 Common Shares acquired through the Warrant Exercise, representing approximately 28.87% of the total number of issued and outstanding Common Shares on a non-diluted basis, and approximately 28.76% of the issued and outstanding Common Shares on a fully-diluted basis. 

Silvercorp’s acquisition of the additional Common Shares was made for investment purposes, and it may, in the future, acquire ownership and control over additional securities of New Pacific for investment purposes. 

The foregoing disclosure regarding Silvercorp’s holdings is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.  A copy of Silvercorp’s early warning report will be filed on the System for Electronic Document Analysis and Review under New Pacific's profile at www.sedar.com and may be obtained by contacting Lon Shaver, VP for Silvercorp at 604-669-9397.

 

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 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 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 in this news release relate to, among other things, the timing and receipt of stock exchange approvals; and the closing of the Transaction.

 

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: satisfaction or waiver of all applicable conditions to closing of the Transaction including, without limitation, receipt of all stock exchange approvals.

 

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 Appoints Market-Maker

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VANCOUVER, BRITISH COLUMBIA – May 6, 2019 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) is pleased to announce that it has retained PI Financial Corp. (“PI”) to provide market making services in accordance with TSX Venture Exchange policies. 

PI will trade the securities of New Pacific on the TSX-V for the purposes of maintaining an orderly market.  In consideration of the services provided by PI, the Company will pay PI a monthly cash fee of $5,000 for a minimum term of three months and renewable thereafter.  New Pacific and PI are unrelated and unaffiliated entities.  PI will not receive shares or options as compensation.  The capital used for market making will be provided by PI. 

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 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 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 in this news release relate to, among other things, the timing and receipt of stock exchange approvals; and the closing of the Transaction.

 

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: satisfaction or waiver of all applicable conditions to closing of the Transaction including, without limitation, receipt of all stock exchange approvals.

 

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 Resumes Drilling Programs at Silver Sand Project and Receipt of Environmental Permits for Exploration

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VANCOUVER, BRITISH COLUMBIA – April 25, 2019: New Pacific Metal Corp. (“New Pacific” or the “Company”) (TSXV: NUAG) (OTCQX: NUPMF) is pleased to announce the commencement of the 2019 drill programs at the Silver Sand Project in the Department of Potosi, Bolivia.  The total budgeted metreage for 2019 drilling campaign is about 55,000 metres of diamond coring drilling.  

The Silver Sand Project consists of three 100% owned concessions of approximately 7 square kilometres plus an area of approximately 57 square kilometres (includes 29 Special Temporary Authorizations and 201 mining grids) covered by the Mining Production Contract (“MPC”).  As previously announced in the Company’s January 11, 2019 news release, New Pacific signed the MPC with COMIBOL which is subject to ratification by the Plurinational Legislative Assembly of Bolivia.

Grab samples of hundreds of surface dump sites and chip-samples from many artisanal mining tunnels reveal that the silver mineralized fracture zones could extend up to 6 kilometres long in the North-North-West direction and up to 2 kilometres wide in the North-East-East direction.  The targets for the 2019 drilling program include: 1) infill drilling to a point where an initial NI 43-101 compliant Mineral Resource estimate can be made for the Silver Sand area by the end of 2019; 2) drill prospects with good silver grades from historical artisanal mining dumps to expand the mineralization zones at the Silver Sand; 3) drill prospects surrounding Silver Sand showing similar silver mineralization as revealed by historical artisanal mining, and 4) drilling for samples for further metallurgical test work.  The Company currently has three drill rigs on site.  The Company has also received the environmental permits from the relevant Bolivian government authorities to conduct mineral exploration activities in the MPC areas surrounding the Silver Sand area. 

The Company has acquired land located approximately 16 kilometres south of the Silver Sand Project sufficient to build an exploration camp which will include offices, accommodation, and drill core processing and storage facilities.  This location is approximately 10 kilometres East of the Potosi airport at an elevation of 3,620 metres above sea level. 

Quality Assurance and Quality Control

Core from the 2019 drilling program will be HQ in size.  Core samples from drill holes will be split by diamond saw at the camp site.  To minimize costs and to expedite the sample preparation process, the Company will set up its own sample preparation facilities at the camp site including crushing and pulverizing in 2019.  Pulp samples will be shipped to internationally accredited commercial labs for geochemical analysis.

As was the case in 2018 drilling campaign, a thorough quality assurance and quality control protocol will be employed in 2019 to monitor the quality of sample preparation and analysis. Standards of certified reference materials, blanks and duplicates will be inserted in normal core sample sequences prior to shipment to the lab at a ratio of twenty to one, i.e., every twenty samples contain at least one standard sample, one blank sample and one duplicate sample.

Alex Zhang, P. Geo., VP Exploration of the Company and Qualified Person as defined under National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release.

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 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.ca
www.newpacificmetals.ca

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 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 in this news release relate to, among other things, the timing and receipt of stock exchange approvals; and the closing of the Transaction.

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: satisfaction or waiver of all applicable conditions to closing of the Transaction including, without limitation, receipt of all stock exchange approvals.

New Pacific Announces the Appointment of New Vice President, Corporate Development, Project Manager, and Grant of Options

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VANCOUVER, BRITISH COLUMBIA – April 23, 2019 - New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) is pleased to announce the appointment of Mr. Robert Cinits as  Vice President, Corporate Development of the Company and Mr. David Turner as Project Manager effective April 22, 2019.

Mr. Cinits has over 30 years of experience in the mineral resources industry with an extensive background in corporate development, M&A, exploration, project development, QA/QC, engineering studies, and NI 43-101 reports.  Prior to joining New Pacific, Mr. Cinits held the positions of Chief Operating Officer with Mason Resources Corp. and Vice President, Corporate Development with Entrée Resources Ltd.  Mr. Cinits received his Bachelor of Science degree in Geology from University of Toronto.  Mr. Cinits is also a P.Geo registered with the Association of Professional Engineers and Geoscientists of the Province of British Columbia.

Mr. David Turner has over 25 years experience in the mineral resources industry with a focus on precious metals exploration in Latin America.  After starting his career with BHP, Mr. Turner has gained progressive experience in managing exploration programs and operations, from grassroots to large-scale drilling campaigns in El Salvador, Honduras, Nicaragua and Nevada.  Prior to joining New Pacific, Mr. Turner was Country Manager for Oro Verde Limited in Nicaragua.  Mr. Turner, fluent in both English and Spanish, received his Bachelor of Science degree in Geology from Colorado State University.

Stock Option Grants

The Company's Board of Directors has authorized and approved a grant of 100,000 incentive stock options (the "Stock Options") each to Mr. Cinits and Mr. Turner.  The stock options are exercisable at a price of $2.30 per share, being the closing price of the Company’s shares on the TSX Venture Exchange on April 22, 2019, for a period of five years from the date of grant.  The options are subject to the terms of the Stock Option Plan and the approval of the TSX Venture Exchange.

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 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 in this news release relate to, among other things, the timing and receipt of stock exchange approvals; and the closing of the Transaction.

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: satisfaction or waiver of all applicable conditions to closing of the Transaction including, without limitation, receipt of all stock exchange approvals.

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 Clarification of News Release

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VANCOUVER, BRITISH COLUMBIA – April 1, 2019 - New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) is issuing this news release to clarify and further explain its news release of March 28, 2019 announcing the sale and purchase of its position in Cozy Holdings Inc. for an aggregate purchase price of US$495,495 between the Company, as vendor, and Silvercorp Metals Inc. (“Silvercorp”), as purchaser (the “Transaction”).

On February 22, 2016, the Company acquired 750,750 shares of Cozystay Holdings Inc. at a cost of US$0.33 per share for a total consideration of US$250,000 through a private placement.  At the time, New Pacific was an investment issuer under the policies of the TSX Venture Exchange (“TSXV”), engaged in investing in privately held and publicly held companies.  On July 20, 2017, New Pacific announced a change of business from an investment issuer to a mining issuer under the policies of the TSXV to focus on the exploration and development of the Company’s Silver Sand Project in Bolivia.  On April 1, 2018, the Company’s shares in Cozystay were rolled over from Cozystay Holdings Inc. to Cozy Holdings Corp. (“Cozystay”). 

As a private company, there is no readily available market for Cozystay shares and the Transaction price of US$0.66 per share was negotiated between the two parties. 

Cozystay is a startup company operating a vacation rental platform offering hotel information, online booking, payment processing, and property management services.  The sale of the shares is consistent with the Company’s strategy of rationalizing its assets to focus on its mineral interests in Bolivia and surfacing value from within its non-core assets.  The Company expects to report a gain on the sale of this investment of approximately US$245,495 on its financial statements for the quarter and year ended June 30, 2019. 

The Transaction is subject to the approval of the TSXV.  

As Silvercorp is a control person of the Company, the Transaction is considered a "related party transaction", as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the Company is relying on the exemption from the formal valuation requirement of MI 61-101 as set out in Section 5.5(a) of MI  61-101 and the exemption from the minority approval requirement of MI 61-101 as set out 5.7(1)(a) of MI 61-101 for the Transaction.
 

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.Z
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 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 in this news release relate to, among other things, the timing and receipt of stock exchange approvals; and the closing of the Transaction.  

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: satisfaction or waiver of all applicable conditions to closing of the Transaction including, without limitation, receipt of all stock exchange approvals. 

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 Announces Sale of Cozystay Shares to Silvercorp

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VANCOUVER, BRITISH COLUMBIA – March 28, 2019 - New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) today announces it has entered into a share purchase agreement with Silvercorp Metals Inc. ("Silvercorp"), a control person of the Company, for the purchase by Silvercorp of 750,750 shares of Cozystay Holdings Inc. held by the Company for an aggregate purchase price of US$495,495 payable in cash (the "Transaction").

The Transaction is subject to the approval of the TSX Venture Exchange.

 As Silvercorp is a control person of the Company, the Transaction is considered a "related party transaction", as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and the Company is relying on the exemption from the formal valuation requirement of MI 61-101 as set out in Section 5.5(a) of MI  61-101 and the exemption from the minority approval requirement of MI 61-101 as set out 5.7(1)(a) of MI 61-101 for the Transaction.

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.
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 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 in this news release relate to, among other things, the timing and receipt of stock exchange approvals; and the closing of the Transaction.

 

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: satisfaction or waiver of all applicable conditions to closing of the Transaction including, without limitation, receipt of all stock exchange approvals.

 

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 Announces Stock Option Grants

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VANCOUVER, British Columbia - February 22, 2019 - New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) has granted an aggregate of 1,955,000 incentive stock options to certain directors, officers, employees, and consultants of the Company in accordance with the Company’s stock option plan today.

The options are exercisable at a price of $2.15 per share, being the closing price of the shares on the TSX Venture Exchange on February 21, 2019, for a period of five years from the date of grant.  The options will vest in equal six-month instalments over 36 months and are subject to the approval of the TSX Venture Exchange.

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.