Vancouver, British Columbia (December 23, 2010) – New Pacific Metals Corp. (TSXV: “NUX”) (the “Company” or “New Pacific”), announces that subject to regulatory approval, it has granted an aggregate of 220,000 incentive stock options to consultants and a director of the Company. The stock options are exercisable at $1.65 for a period of five years and are subject to a vesting period of 48 months.
The Company is also pleased to announce the appointment of Dr. Robert Kerrich as a director of the Company effective immediately. Since 1987, Dr. Robert Kerrich has been the George McLeod Research Chair at the Department of Geological Science at the University of Saskatchewan. He has 30 years mineral deposit field experience and mineral deposit consulting experience in gold and base metals in projects based in North and South America, China, and Africa. He is in good standing with the Canadian Institute of Mining and Metallurgy, the Mineralogical Association of Canada, the Geological Society of Canada, the Geological Society of America, the Geological Society of London, and the American Geophysical Union. With this new appointment, the Company announces the resignation of both Joanne Yan and Shating Shen as directors of the Company and wish to thank them for their contributions to the Company.
To advance the Tagish Lake Gold Project, the Company has also built a team currently consisting of a president, vice-president finance, four geologists, and one metallurgist. The Company plans to augment this team in the coming months.
New Pacific is engaged in the exploration and development of mineral resources and gold-poly-metallic projects in Canada and China. New Pacific has extensive experience in implementing high grade resource development projects. For more information about New Pacific, visit New Pacific’s website at www.newpacificmetals.com.
For Further Information:
New Pacific Metals Corp.
Phone: +1 (604) 633-1368
Fax: +1 (604) 669-9387
Forward Looking Information
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, discussion of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based on a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. New Pacific Metals disclaims any intention or obligations to revise or update such statements.
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