Alberto Montoto, Author at New Pacific Metals Corp.

21 Feb, 23

New Pacific Intersects 524 Metres Grading 1.24 Grams Per Tonne Gold at the Carangas Project, Bolivia

VANCOUVER, British Columbia – February 21, 2023 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP), together with its local Bolivian partner, reports assay results from a deep drill hole DCAr0096 from the 2022 drill program at its Carangas Silver-Gold Project, Oruro Department, Bolivia (the “Carangas Project” or the “Project”). To date, assay results of 86 drill holes from the 115 holes drilled in 2022 have been received and released while results of the remaining 29 drill holes are pending. Assay results and drill hole specifications are listed in Tables 1 and 2.

Hole DCAr0096 drill results

Hole DCAr0096 stepped out 60 m from hole DCAr0044 towards the northeast at the East Dome (Figures 1 & 2) and was drilled to the southwest at a 252-degree azimuth. As reported on August 8, 2022, hole DCAr0044 intercepted 515 m (from 266 m to 781 m) grading 1.10 g/t Au and 6 g/t Ag, including 88 m grading 2.57 g/t Au, 9 g/t Ag and 0.12% Cu (Figure 2).

Starting from surface, Hole DCAr0096 first intersected a silver horizon with a 164 m interval grading 94 g/t Ag, 0.65% Pb and 1.72% Zn, including a 44 m interval grading 289 g/t Ag, 1.61% Pb and 4.00% Zn. Then from 192 m to 319 m a polymetallic Pb-Zn-Au zone was intercepted with a 127 m interval grading 0.24 g/t Au, 5 g/t Ag, 0.26% Pb and 0.54% Zn.

Further down hole DCAr0096, from 333 m to 857 m, a gold zone similar to hole DCAr0044 (Figure 2) was intercepted with a 524 m interval @ 1.24 g/t Au and 8 g/t Ag, including 51 m @ 4.56 g/t Au and 0.10% Cu, and 35 m @ 3.35 g/t Au, 8 g/t Ag and 0.20% Cu. Hole DCAr0096 has extended the thick gold mineralization at least 60 m to the northeast.

The most interesting finding from this hole is that high grade gold intervals occur in rhyolites with disseminated pyrite preferentially along flow-banded textures, as shown in drill core (Figure 3). In addition, high gold assay grades also occur along the contacts of rhyolites with strongly altered volcanoclastic rocks, implying that gold mineralization is related to the rhyolite intrusion. The mineralized rhyolites in hole DCAr0096 are likely part of a feeder zone to the northeast whereas previously, gold mineralization was thought to have extended to the south at depth.

Notes:

Drill location, altitude, azimuth, and dip of drill holes are provided in Table 2
Drill intercept is core length, and grade is length weighted. True width of mineralization is unknown due to the early stage of exploration without adequate drill data. Calculation of silver equivalent (“AgEq”) is based on the long-term median of the August 2021 Street Consensus Commodity Price Forecasts, which are US$22.50/oz for Ag, US$0.95/lb for Pb, US$1.10/lb for Zn, US$3.40/lb for Cu, and US$1,600/oz for Au. The formula used for the AgEq calculation is as follows: AgEq = Ag g/t + Pb g/t * 0.0029 + Zn g/t * 0.00335 + Cu g/t * 0.01036 + Au g/t * 71.1111. This calculation assumes 100% recovery.
A cut-off of 20 g/t AgEq is applied to calculate the length-weighted intercept. At times, samples lower than 20 g/t AgEq may be included in the calculation of consolidation of mineralized intercepts

Figure 1 Simplified Geology and Drill Plan Map of the Carangas Project

Figure 2 Cross Section DCAr0096 Showing Holes DCAr0044 and DCAr0096 (50 m section slice thickness or +/-25 m)

Figure 3 Core Photo of Mineralized Rhyolite from 453 m to 457 m in Hole DCAr0096

Metal Zoning and Mineralization model

Assay results of Ag, Pb, Zn, Au and Cu are plotted for drill holes within a slice thickness of 400 m (+/- 200m) along cross section of hole DCAr0096, as shown in Figure 4 below. The assay results show apparent metal zoning: 1) gold-copper mineralization occurs at the centre related to rhyolite intrusions; 2) surrounded by a lower temperature polymetallic lead-zinc zone; and 3) a thick silver (plus lead and zinc) zone near surface.

A reasonable geological hypothesis for the Carangas Project supposes that rhyolites intruded into sub-horizontal volcanoclastic units and introduced hydrothermal fluids and metals that precipitated according to temperature gradients. Based on the intensity of mineralization the rhyolitic intrusive appears to dip to the northeast and will be the target of future drilling.

Based on this metal zoning and mineralization model, as well as the drill results from DCAr0096, nine deep holes are planned to step out to the east of DCAr0096 to test the potential extension of gold mineralization down dip of the interpreted orientation of the rhyolite intrusive. Concurrently, shallow holes are planned to test the southwest limb of the near-surface silver zone.

Figure 4: Cross Section DCAr0096 Assay Results (+/- 200m) Display Clear Zoning of Mineralization

QUALITY ASSURANCE AND QUALITY CONTROL

The Company maintains tight sample security and QA/QC for all aspects of its exploration program at the Carangas Project. Drill core is logged, photographed and split on-site by the company and stored under secure conditions until being shipped in security-sealed bags by New Pacific staff in Company vehicles, directly from the project to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis. ALS Global is an ISO 17025 accredited laboratory independent from New Pacific. All samples are first analyzed by a multi-element ICP package (ALS code ME-MS41) with ore grade specified limits for silver, lead, and zinc, further analyzed using ALS code OG46. Further silver samples over specified limits are analyzed by gravimetric analysis (ALS code of GRA21). Gold is assayed first by ICP and then by fire assay with AAS finish (ALS code of Au-AA25). Certified reference materials, various types of blank samples and duplicate samples are inserted into normal drill core sample sequences prior to delivery to the laboratory for preparation and analysis. The overall ratio of quality control samples in sample sequences is around twenty percent.

QUALIFIED PERSON

The scientific and 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 National Instrument 43-101 — Standards of Disclosure for Mineral Projects (“NI 43-101”). The Qualified Person has verified the information disclosed herein using standard verification processes, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties or any limitations on the verification process that could be expected to affect the reliability or confidence in the information discussed herein.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Project, has released its inaugural preliminary economic assessment (the “PEA”) results in January 2023. The PEA study shows a post-tax NPV (5% discount) of US$726 million with an IRR of 39%, underpinned by a total silver production of 171 million ounces over 14 years of mine life. At the recently discovered Carangas Silver-Gold Project, a resource drilling program of more than 50,000 meters was completed in 2022. The third project, the Silverstrike Silver-Gold Project, had a 6,000 metre discovery drill program in June 2022.

FOR FURTHER INFORMATION

Andrew Williams, President
New Pacific Metals Corp.
Phone: (604) 633‐1368 Ext. 236
U.S. & Canada toll-free: 1-877-631-0593
E-mail: invest@newpacificmetals.com
For additional information and to receive company news by e-mail, please register using New Pacific’s website at www.newpacificmetals.com.

CAUTIONARY NOTE REGARDING RESULTS OF PRELIMINARY ECONOMIC ASSESSMENT

The PEA study results of Silver Sand Project are preliminary in nature and are intended to provide an initial assessment of the project’s economic potential and development options. The PEA mine schedule and economic assessment includes numerous assumptions and is based on both Indicated and Inferred mineral resources. Inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the project economic assessments described herein will be achieved or that the PEA results will be realized. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Additional exploration will be required to potentially upgrade the classification of the Inferred Mineral Resources to be considered in future advanced studies. AMC Mining Consultants (Canada) Ltd. (mineral resource, mining, infrastructure and financial analysis) was contracted to conduct the PEA in cooperation with Halyard Inc. (metallurgy and processing), and NewFields Canada Mining & Environment ULC (tailings, water and waste management). The Qualified Persons for the PEA are Mr. Wayne Rogers P.Eng and Mr. Mo Molavi P.Eng both Principal Mining Engineers with AMC Mining Consultants (Canada) Ltd, Mr. Andy Holloway P.Eng, Process Director with Halyard Inc., and Mr. Leon Botham P.Eng., Principal Engineer with NewFields Canada Mining & Environment ULC. This is in addition to Ms. Dinara Nussipakynova, P.Geo., Principal Geologist with AMC Consultants (Canada) Ltd. who estimated the Mineral Resources. All QPs have reviewed the technical content of the January 9, 2023, news release for the Silver Sand deposit and have approved its dissemination. The Silver Sand PEA is based on the updated Mineral Resource Estimate which was reported on November 28, 2022. The effective date of the 2022 Mineral Resource Estimate for Silver Sand is 31 October 2022. The cut-off applied for reporting the pit-constrained Mineral Resources is 30 g/t silver. Assumptions made to derive a cut-off grade included mining costs, processing costs and recoveries and were obtained from comparable industry situations. The model is depleted for historical mining activities. Mineral Resources are constrained by optimized pit shells at a silver price of US$22.50 per ounce, silver metallurgical recovery of 91%, silver payability of 99%, open pit mining cost of US$2.6/t, processing cost of US$16/t, G&A cost of US$2/t, and slope angle of 44-47 degrees. Key assumptions used for pit optimization for the PEA mining pit include silver price of US$22.50 per ounce, silver metallurgical recovery of 91%, silver payability of 99%, open pit mining cost of US$2.6/t, incremental mining cost of US$0.04/t (per 10 m bench), processing cost of US$16/t, tailing storage facility operating cost of US$0.7/t, G&A cost of US$2/t, royalty of 6.00%, mining recovery of 92%, dilution of 8%, and cut-off grade of 30 g/t silver.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING 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: global economic and social impact of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, general economic conditions, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management, uncertainties relating to the availability and costs of financing needed in the future, environmental risks, operations and political conditions, the regulatory environment in Bolivia and Canada; risks associated with community relations and corporate social responsibility, and other factors described under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended June 30, 2022 and its other public filings.

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, those related to the Company’s ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the Company’s ability to obtain and maintain social license at its mineral properties; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with COMIBOL by the Plurinational Legislative Assembly of Bolivia; the ability of the Company’s Bolivian partner to convert the exploration licenses at the Carangas Project to AMC; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically required by applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise except as may be required by law. These forward-looking statements are made as of the date of this news release.

CAUTIONARY NOTE TO US INVESTORS

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of United States securities laws. The technical and scientific information contained herein has been prepared in accordance with NI 43-101, which differs from the standards adopted by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, the technical and scientific information contained herein, including any estimates of mineral reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC.

Additional information relating to the Company, including the Company’s Annual Information Form, can be obtained under the Company’s profile on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on the Company’s website at www.newpacificmetals.com.

Feb 21, 2023May 10, 2023Alberto Montoto2023

16 Feb, 23

New Pacific Announces Filing of NI 43-101 PEA Technical Report for the Silver Sand Project

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VANCOUVER, British Columbia – FEBRUARY 16, 2023 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP) is pleased to announce filing of an independent Preliminary Economic Assessment (“PEA”) technical report for its Silver Sand project located in Potosi, Bolivia, with an effective date of November 30, 2022 (the “PEA Technical Report”).

The PEA Technical Report was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

The Qualified Persons for the PEA Technical Report are Mr. Wayne Rogers P.Eng and Mr. Mo Molavi P.Eng both Principal Mining Engineers with AMC Mining Consultants (Canada) Ltd., Mr. Morton Shannon, P.Geo, General Manager & Principal Geologist with AMC Mining Consultants (Canada) Ltd., Mr. Andy Holloway P.Eng, Process Director with Halyard Inc., and Mr. Leon Botham P.Eng., Principal Engineer with NewFields Canada Mining & Environment ULC. This is in addition to Ms. Dinara Nussipakynova, P.Geo., Principal Geologist with AMC Consultants (Canada) Ltd. who estimated the Mineral Resources. All QPs have reviewed this news release and approved its dissemination.

Alex Zhang, P.Geo., Vice President of Exploration, who is the designated QP for the Company has also reviewed and approved this news release.

A copy of the PEA Technical Report is available under the Company’s profile on SEDAR at www.sedar.com, on Edgar at www.sec.gov, and on the Company’s website at www.newpacificmetals.com.”

ABOUT NEW PACIFIC

FOR FURTHER INFORMATION

CAUTIONARY NOTE REGARDING RESULTS OF PRELIMINARY ECONOMIC ASSESSMENT

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. Such statements include, but are not limited to: statements regarding anticipated inclusion of certain drill hole results in the Project’s inaugural mineral resource estimate and the anticipated timing for the release of such mineral resource estimate. 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: global economic and social impact of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, general economic conditions, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management, uncertainties relating to the availability and costs of financing needed in the future, environmental risks, operations and political conditions, the regulatory environment in Bolivia and Canada; risks associated with community relations and corporate social responsibility, and other factors described under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended June 30, 2022 and its other public filings. 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: global economic and social impact of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, general economic conditions, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management, uncertainties relating to the availability and costs of financing needed in the future, environmental risks, operations and political conditions, the regulatory environment in Bolivia and Canada; risks associated with community relations and corporate social responsibility, and other factors described under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended June 30, 2022 and its other public filings. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, those related to the Company’s ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the Company’s ability to obtain and maintain social license at its mineral properties; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with COMIBOL by the Plurinational Legislative Assembly of Bolivia; the ability of the Company’s Bolivian partner to convert the exploration licenses at the Carangas Project to AMC; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

CAUTIONARY NOTE TO US INVESTORS

Feb 16, 2023Feb 16, 2023Alberto Montoto2023

07 Feb, 23

New Pacific Reports Financial Results for the Three and Six Months Ended December 31, 2022

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VANCOUVER, BRITISH COLUMBIA – FEBRUARY 7, 2023: New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP), reports its financial results for the three and six months ended December 31, 2022. All figures are expressed in US dollars unless otherwise stated.

FISCAL 2023 Q2 HIGHLIGHTS

The Company reported the results of the preliminary economic assessment (the “PEA”) of the Silver Sand Project on January 9, 2023. The PEA shows a post-tax net present value (“NPV”) (at a 5% discount rate) of $726 million with an internal return rate (“IRR”) of 39%, underpinned by a total silver production of 171 million ounces over 14 years of mine life. Please see “Cautionary Note Regarding Results of Preliminary Economic Assessment”.

The Company released the updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) mineral resource estimate (the “MRE”) for the Silver Sand Project on November 28, 2022. The MRE shows total measured and indicated mineral resource of 201.77 million ounces of silver at a head grade of 116 grams per tonne (“g/t”). Please see “Silver Sand Project”.

The Company completed the 2022 drill program at the Carangas Silver-Gold Project for a total of 50,368 meters (“m”) in 115 drill holes, of which assay results for 85 drill holes have been received and released to date. The assay results continue to indicate that a thick zone of gold mineralization occurs beneath a shallow silver horizon measuring approximately 1,000 m long, 800 m wide, and up to 200 m thick. Please see “Carangas Project”.

The Company advanced the 6,000 m initial discovery drill program at the Silverstrike Project, and a total of 3,200 m in 10 drill holes have been completed, of which assay results for two drill holes have been received and released to date. The assay results intersected broad gold mineralization near-surface. Please see “Silverstrike Project”.

The Company strengthened the Board and management team by appointing Dr. Peter Megaw and Mr. Dickson Hall as directors and Mr. Andrew Williams as President of the Company.

The Company maintained working capital of $14.4 million, sufficient to advance the existing exploration projects and other regional exploration initiatives.

FINANCIAL RESULTS

Net loss attributable to equity holders of the Company for the three months ended December 31, 2022 was $1.87 million or $0.01 per share (three months ended December 31, 2021 – net loss of $1.30 million or $0.01 per share). The Company’s financial results were mainly impacted by the following: (i) operating expenses of $1.93 million compared to $1.36 million in the comparative quarter; (ii) net income from investments of $0.08 million compared to $0.13 million in the comparative quarter; and (iii) foreign exchange loss of $0.03 million compared to $0.06 million in the comparative quarter.

For the six months ended December 31, 2022, net loss attributable to equity holders of the Company was $3.96 million or $0.03 per share compared to net loss of $2.67 million or $0.02 per share for the six months ended December 31, 2021.

Operating expenses for the three and six months ended December 31, 2022 were $1.93 million and $3.99 million, respectively (three and six months ended December 31, 2021 – $1.36 million and $2.96 million, respectively).

Net Income from investments for the three months ended December 31, 2022 was $0.08 million (three months ended December 31, 2021 – $0.13 million) and is comprised of a $0.01 million loss on the Company’s equity investments (three months ended December 31, 2021 – gain of $0.07 million), a $0.03 million loss on bonds (three months ended December 31, 2021 – gain of $0.03 million), and $0.12 interest earned from cash accounts (three months ended December 31, 2021 – $0.02 million).

For the six months ended December 31, 2022, income from investments was $0.04 million (six months ended December 31, 2021 – $0.08 million).

Foreign exchange loss for the three months ended December 31, 2022 was $0.03 million (three months ended December 31, 2021 – $0.06 million). The Company holds a portion of cash and short-term investments in USD to support its operations in Bolivia. Revaluation of these USD-denominated financial assets to their Canadian dollar (“CAD”) functional currency equivalents resulted in unrealized foreign exchange gain or loss for the relevant reporting periods. For the three months ended December 31, 2022, the USD depreciated by 1.2% against the CAD (from 1.3707 to 1.3544) while in the comparative period the USD depreciated by 0.5% against the CAD (from 1.2741 to 1.2678).

For the six months ended December 31, 2022, foreign exchange loss was $0.01 million (six months ended December 31, 2021– gain of $0.2 million).

Working Capital: As of December 31, 2022, the Company had working capital of $14.4 million.

PROJECT OVERVIEW

SILVER SAND PROJECT

In 2021, the Company completed a drill program of 13,313.7 m in 55 holes. The 2021 drill program comprised structure orientation drilling, step-out and infill drilling as well as exploration drilling. Assay results of all drill holes have been received. Detailed structural logging and assays of the oriented drill cores confirmed previous understanding of the orientation of mineralized structures and resource model which are dominantly striking in the direction of north and northwest and dipping in the direction of west at high angles which are also evidenced at surface outcrops and historical underground workings. Step-out drilling was carried out mainly outside of the major mineralized trends with results indicating the existence of multiple smaller satellite mineralized zones between the major mineralized trends. For details of the 2021 drill program, please refer to the Company’s news release dated April 6, 2022.

In 2022, the Company conducted a resource infill drilling and step-out drilling program at the Silver Sand south block and completed 19,323 m in 86 drill holes. Assay results for all drill holes have been received. The resource infill drilling aimed to improve the confidence in the continuity of mineralization in the core area of the Silver Sand Project and upgrade resources, while the step-out drilling was designed to test the extension of the mineralized zones up and down dip as well as on strike. The infill and step-out drilling results were included in the MRE update and incorporated into the PEA. For details of the 2022 drill program, please refer to the Company’s news releases dated September 19, 2022, May 31, 2022, and April 6, 2022.

On January 9, 2023, the Company reported the results of the PEA of its Silver Sand Project. AMC Mining Consultants (Canada) Ltd. (mineral resource, mining, infrastructure and financial analysis) was contracted to conduct the PEA in cooperation with Halyard Inc. (metallurgy and processing), and NewFields Canada Mining & Environment ULC (tailings, water and water management). The PEA is based on the MRE, which was reported on November 28, 2022. Please see “Cautionary Note Regarding Results of Preliminary Economic Assessment”. For more details on the PEA, please refer to the Company’s news release dated January 9, 2023.

For the three and six months ended December 31, 2022, total expenditures of $1.70 million and $4.20 million, respectively (three and six months ended December 31, 2021 – $1.22 million and $3.42 million, respectively) were capitalized under the project.

CARANGAS PROJECT

In 2021, the Company completed an initial discovery drill program of 13,209 m in 35 drill holes. Assay results of all drill holes have been received. Results from the 2021 discovery drill program confirmed the broad silver-rich polymetallic mineralization near surface and intersected a wide zone of gold mineralization below it. For details of the 2021 discovery drill program, please refer to the Company’s news releases dated May 17, 2022, February 23, 2022, and February 10, 2022.

Following the success of the 2021 discovery drill program, the Company completed the 2022 resource definition drill program for a total of 50,368 m in 115 drill holes. Assay results of 85 drill holes have been received and released to date. The assay results continue to indicate that a thick zone of gold mineralization occurs beneath a shallow silver horizon measuring approximately 1,000 m long, 800 m wide, and up to 200 m thick. For details of the 2022 drill program, please refer to the Company’s news releases dated February 1, 2023, January 24, 2023, October 19, 2022, August 8, 2022, and July 13, 2022.

The Company plans to drill 15,000 m during the first quarter of 2023 at the Carangas Project to test the eastern extension of gold mineralization beneath the East Dome and expand parts of the shallow silver horizon. Following this drill program, an inaugural resource estimate is planned in the second quarter of 2023.

For the three and six months ended December 31, 2022, total expenditures of $2.87 million and $5.85 million, respectively (three and six months ended December 31, 2021 – $1.43 million and $1.97 million, respectively) were capitalized under the project.

SILVERSTRIKE PROJECT

In 2022, the Company commenced a 6,000 m initial discovery drill program at the Silverstrike Project. As of the date of this news release, a total of 3,200 m in 10 drill holes have been completed, of which assay results of the two drill holes have been received. The assay results intersected broad gold mineralization starting near surface. For details of the initial discovery drill program, please refer to the Company’s news releases dated November 1, 2022 and September 12, 2022.

For the three and six months ended December 31, 2022, total expenditures of $0.70 million and $1.15 million, respectively (three and six months ended December 31, 2021 – $0.01 million and $0.01 million, respectively) were capitalized under the project.

MANAGEMENT DISCUSSION AND ANALYSIS

This news release should be read in conjunction with the Company’s management discussion and analysis and the unaudited condensed consolidated interim financial statements and notes thereto for the corresponding period, which have been filed with the Canadian Securities Administrators and are available under the Company’s profile on SEDAR at www.sedar.com,on EDGAR at www.sec.gov and on the Company’s website at www.newpacificmetals.com.

QUALIFY PERSON

The scientific and 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. The Qualified Person has verified the information disclosed herein using standard verification processes, and is not aware of any significant risks and uncertainties or any limitations on the verification process that could be expected to affect the reliability or confidence in the information discussed herein.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Project, has released its inaugural PEA study in January 2023. The PEA study shows a post-tax NPV (5% discount) of US$726 millions with an IRR of 39%, underpinned by total silver production of 171 million ounces over 14 years of mine life. At the recently discovered Carangas Silver-Gold Project, a resource drilling program of more than 50,000 meters was completed in 2022. The third project, the Silverstrike Silver-Gold Project, had a 6,000 m discovery drill program ongoing since June 2022.

FOR FURTHER INFORMATION

CAUTIONARY NOTE REGARDING RESULTS OF PRELIMINARY ECONOMIC ASSESSMENT

The PEA results of are preliminary in nature and are intended to provide an initial assessment of the Silver Sand Project’s economic potential and development options. The PEA mine schedule and economic assessment includes numerous assumptions and is based on both indicated and inferred mineral resources. Inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the project economic assessments described herein will be achieved or that the PEA results will be realized. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Additional exploration will be required to potentially upgrade the classification of the inferred mineral resources to be considered in future advanced studies. AMC Mining Consultants (Canada) Ltd. (mineral resource, mining, infrastructure and financial analysis) was contracted to conduct the PEA in cooperation with Halyard Inc. (metallurgy and processing), and NewFields Canada Mining & Environment ULC (tailings, water and waste management). The qualified persons for the PEA for the purposes of NI 43-101 are Mr. Wayne Rogers P.Eng and Mr. Mo Molavi P.Eng both Principal Mining Engineers with AMC Mining Consultants (Canada) Ltd, Mr. Andy Holloway P.Eng, Process Director with Halyard Inc., and Mr. Leon Botham P.Eng., Principal Engineer with NewFields Canada Mining & Environment ULC. This is in addition to Ms. Dinara Nussipakynova, P.Geo., Principal Geologist with AMC Consultants (Canada) Ltd. Who estimated the mineral resources. All qualified persons for the PEA have reviewed the disclosure of the PEA herein. The PEA is based on the MRE, which was reported on November 28, 2022. The effective date of the MRE is October 31 2022. The cut-off applied for reporting the pit-constrained mineral resources is 30 g/t silver. Assumptions made to derive a cut-off grade included mining costs, processing costs and recoveries and were obtained from comparable industry situations. The model is depleted for historical mining activities. Mineral resources are constrained by optimized pit shells at a silver price of US$22.50 per ounce, silver metallurgical recovery of 91%, silver payability of 99%, open pit mining cost of US$2.6/t, processing cost of US$16/t, G&A cost of US$2/t, and slope angle of 44-47 degrees. Key assumptions used for pit optimization for the PEA mining pit include silver price of US$22.50 per ounce, silver metallurgical recovery of 91%, silver payability of 99%, open pit mining cost of US$2.6/t, incremental mining cost of US$0.04/t (per 10 m bench), processing cost of US$16/t, tailing storage facility operating cost of US$0.7/t, G&A cost of US$2/t, royalty of 6.00%, mining recovery of 92%, dilution of 8%, and cut-off grade of 30 g/t silver.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING 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: global economic and social impact of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, general economic conditions, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management, uncertainties relating to the availability and costs of financing needed in the future, environmental risks, operations and political conditions, the regulatory environment in Bolivia and Canada, risks associated with community relations and corporate social responsibility, and other factors described under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended June 30, 2022 and its other public filings.

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, those related to the Company’s ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the Company’s ability to obtain and maintain social license at its mineral properties; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with the Corporacion Minera de Bolivia (“COMIBOL”) by the Plurinational Legislative Assembly of Bolivia; the ability of the Company’s Bolivian partner to convert the exploration licenses at the Carangas Project to AMC; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

CAUTIONARY NOTE TO US INVESTORS

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of United States securities laws. All mining terms used herein but not otherwise defined have the meanings set forth in NI 43-101. Unless otherwise indicated, the technical and scientific disclosure herein has been prepared in accordance with NI 43-101, which differs significantly from the requirements adopted by the U.S. Securities and Exchange Commission.

Accordingly, information contained in this news release containing descriptions of the Company’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Feb 7, 2023Feb 7, 2023Alberto Montoto2023

01 Feb, 23

New Pacific Intersects 230 Metres Grading 146 Grams per Tonne Silver at the Carangas Project, Bolivia

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VANCOUVER, British Columbia – February 1, 2023 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP), together with its local Bolivian partner, reports assay results for an additional 42 drill holes from the 2022 drill program at its Carangas Silver-Gold Project, Oruro Department, Bolivia (the “Carangas Project” or the “Project”). To date, assay results of 85 drill holes from the 115 holes drilled in 2022 have been received and released while results of the remaining 30 drill holes are pending. Detailed results and drill hole specifications are listed in Tables 1 and 2, as well as in Figure 1.

These 42 holes were drilled to define the continuity of the shallow silver mineralization on a grid with fifty-meter spacing. With the exception of one hole, all 41 drill holes intercepted broad silver mineralization, which further confirmed the continuity of the widespread shallow silver-lead-zinc polymetallic mineralization starting near surface in an area of up to 1,000 meters (“m”) long by 800 m wide by 200m deep across the West Dome, the Central Valley and the East Dome. These drill hole results will be incorporated in the Project’s inaugural mineral resource estimate expected to be released later in the year.

Highlights of drill results

230.26 m interval (53.74 m to 284 m) grading 146 g/t silver (“Ag”), 0.3% lead (“Pb”) and 0.69% zinc (“Zn”), including 12.06 m interval (from 115.49 m to 127.55 m) grading 2,160 g/t Ag, 0.74% Pb, 1.74% Zn and 0.13% copper (“Cu”) in Hole DCAr0075.

127.51 m interval (1.8 m to 129.31 m) grading 92 g/t Ag, 0.4% Pb and 0.41% Zn, including 15.2 m interval (90.05 m to 105.25 m) grading 200 g/t Ag, 0.35% Pb and 0.38% Zn in Hole DCAr0099.

188.20 m interval (20.0 m to 208.2 m) grading 63 g/t Ag, 0.3% Pb and 0.79% Zn, including 49.62 m interval (from 22.68 m to 72.3 m) grading 157 g/t Ag, 0.74% Pb and 2.02% Zn in Hole DCAr0080.

122.52 m interval (54.28 m to 176.8 m) grading 61 g/t Ag, 0.47% Pb and 0.83% Zn, including 54.9 m interval (from 55.46 m to 110.36 m) grading 120 g/t Ag, 0.71% Pb and 1.24% Zn in Hole DCAr0074.

237.0 m interval (26.3 m to 263.3 m) grading 59 g/t Ag, 0.41% Pb and 0.78% Zn, including 54.59 m interval (78.1 m to 132.69 m) grading 205 g/t Ag, 0.5% Pb and 1.41% Zn in Hole DCAr0085.

207.86 m interval (205.9 m to 413.76 m) grading 60 g/t Ag, 0.29% Pb and 0.5% Zn, including 21.76 m interval (265.0 m to 286.76 m) grading 128 g/t Ag, 0.27% Pb and 0.56% Zn in Hole DCAr0110.

149.68 m interval (4.42 m to 154.1 m) grading 57 g/t Ag, 0.44% Pb and 0.13% Zn, including 14.53 m interval (23.61 m to 38.14 m) grading 194 g/t Ag and 0.59% Pb in Hole DCAr0125.

148.84 m interval (46.2 m to 195.04 m) grading 50 g/t Ag, 0.28% Pb and 0.76% Zn, including 44.1 m interval (150.94 m to 195.04 m) grading 104 g/t Ag, 0.25% Pb and 0.55% Zn in Hole DCAr0083.

Notes:

Drill location, altitude, azimuth, and dip of drill holes are provided in Table 2
Drill intercept is core length, and grade is length weighted. True width of mineralization is unknown due to early stage of exploration without adequate drill data.
Calculation of silver equivalent (“AgEq”) is based on the long-term median of the August 2021 Street Consensus Commodity Price Forecasts, which are US$22.50/oz for Ag, US$0.95/lb for Pb, US$1.10/lb for Zn, US$3.40/lb for Cu, and US$1,600/oz for Au. The formula used for the AgEq calculation is as follows: AgEq = Ag g/t + Pb g/t * 0.0029 + Zn g/t * 0.00335 + Cu g/t * 0.01036 + Au g/t * 71.1111. This calculation assumes 100% recovery. Due to the early stage of the Project, the Company has not yet completed metallurgical test work on the mineralization encountered to date.
A cut-off of 20 g/t AgEq is applied to calculate the length-weighted intercept. At times, samples lower than 20 g/t AgEq may be included in the calculation of consolidation of mineralized intercepts.

Figure 1 Simplified Geology and Drill Plan Map of the Carangas Project

Notes:

Drill collar coordinate system is WGS1984 UTM Zone 19S
Coordinate of drill collar is picked with Real Time Kinematics (RTK) GPS
CV – Central Valley; WD – West Dome; ED – East Dome

QUALITY ASSURANCE AND QUALITY CONTROL

QUALIFY PERSON

ABOUT NEW PACIFIC

FOR FURTHER INFORMATION

CAUTIONARY NOTE REGARDING RESULTS OF PRELIMINARY ECONOMIC ASSESSMENT

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

Feb 1, 2023Jan 31, 2023Alberto Montoto2023

26 Jan, 23

New Pacific Appoints Andrew Williams as President

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VANCOUVER, BRITISH COLUMBIA – JANUARY 26, 2023: New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP) is pleased to announce the appointment of Mr. Andrew Williams to the position of President effective immediately.

Based in Vancouver and reporting to the CEO, Mr. Williams’ main responsibility will be managing the Company’s corporate development initiatives, investor relationship program, and financial needs of the Company business. Mr. Williams will also work with CEO and other senior management to provide support for the development of the Company’s projects in permitting, development and production and will assist CEO on team building and organization growth to support rapid growth of the Company’s business.

Prior to joining New Pacific, Mr. Williams spent the last 11 years with SEC-registered investment fund Sun Valley Gold LLC, most recently as portfolio manager. Mr. Williams began his career at Deloitte providing audit and financial advisory services to mining companies in Vancouver. Mr. Williams holds a Bachelor of Commerce with Honours from the University of British Columbia and is a Chartered Professional Accountant and a Chartered Business Valuator.

Dr. Rui Feng, CEO and Founder of New Pacific, commented, “We are very pleased to welcome Andrew to the New Pacific team. Andrew brings 15 years of experience in the mining and mining investment industry, most recently as a portfolio manager responsible for evaluating and investing in precious metals companies globally. Andrew’s deep industry knowledge and strong relationships with mining investment community will make great contribution to the New Pacific’s future growth.”

“I am excited to apply my knowledge and experience to help lead New Pacific, a rapidly growing company that has successfully completed the rare feat of making not one, but two important discoveries with the Silver Sand and Carangas projects,” commented Mr. Williams. “After recently completing two weeks of due diligence in Bolivia, seeing the projects firsthand and meeting the talented in-country team, I believe New Pacific has the potential to create tremendous value for all of its stakeholders. I am thrilled to be joining the Company at this pivotal stage of development.”

Mr. Williams will subscribe for C$250,000 worth of common shares of the Company at a price of $3.16 per common share of the Company (10% discount of the 5 day volume-weighted average price) through a non-brokered private placement with the Company. The Company’s newly elected Director, Mr. Dickson Hall will also subscribe, under the same terms, C$50,000 worth of common shares of the Company for a total of C$300,000 in this private placement. Mr. Williams and Mr. Disckson Hall are considered “related parties” of the Company, and the share purchase constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Share Purchase is exempt from the formal valuation and the minority approval requirements of MI 61-101 as the fair market value of the consideration for the Share Purchase does not exceed 25% of the Company’s market capitalization. Closing of the Share Purchase is subject to the approval of the Toronto Stock Exchange.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Project, has released its inaugural PEA study in January 2023. The PEA study shows a post-tax NPV (5% discount) of US$726 millions and IRR 39%, underpinned by a total silver production of 171 million ounces in 14 years of mine life. At the recently discovered Carangas Silver-Gold Project, a resource drilling program of more than 50,000 meters was completed in 2022. The third project, the Silverstrike Silver-Gold Project, had a 6,000 m discovery drill program ongoing since June 2022.

FOR FURTHER INFORMATION

Dr. Rui Feng, CEO
New Pacific Metals Corp.
Phone: (604) 633‐1368 Ext. 222
U.S. & Canada toll-free: 1-877-631-0593
E-mail: invest@newpacificmetals.com
For additional information and to receive company news by e-mail, please register using New Pacific’s website at www.newpacificmetals.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

Jan 26, 2023Jan 26, 2023Alberto Montoto2023

24 Jan, 23

New Pacific Intersects 505 Metres Grading 1.22 Grams Per Tonne Gold at the Carangas Project, Bolivia

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VANCOUVER, BRITISH COLUMBIA – JANUARY 24, 2023 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP), together with its local Bolivian partner, report assay results for four deep drill holes at its Carangas Silver-Gold Project, Oruro Department, Bolivia (the “Carangas Project” or the “Project”). These deep step-out holes were drilled south of the previous gold intercepts. At Carangas, thick gold mineralization occurs beneath a shallow silver horizon measuring approximately 1,000 metres (“m”) long, 800 m wide and up to 200 m thick. Detailed results and drill hole specifications are provided in Tables 1 and 2, as well as Figure 1.

A total of 50,368 m was drilled in 115 holes at the Carangas Project in 2022. Assay results from 43 of these holes have been received and released to date, while the results of the remaining 72 drill holes are pending. Since June 2021, a total of 63,578 m in 150 holes has been drilled at the Carangas Project.

Highlights

Hole DCAr0094 intersected, from 228.5 m to 733.12 m, a 504.62 m gold interval grading 1.22 grams per tonne (“g/t”) gold (“Au”) and 13 g/t silver (“Ag”), including a 124.69 m higher grade interval (from 479.46 m to 604.15 m) grading 2.77 g/t Au, 14 g/t Ag and 0.11% copper (“Cu”), including a 44.73 m sub-interval (from 559.42 m to 604.15 m) grading 5.03 g/t Au, 19 g/t Ag and 0.16% Cu. The hole also intersected, from 47.65 m to 149.23 m, a 101.58 m silver interval grading 64 g/t silver equivalent (“AgEq”), comprising 18 g/t Ag, 0.2%Pb, and 0.85% Zn .

Hole DCAr0067 intersected, from 24.27 m to 166.0 m, a 141.73 m silver interval grading 119 g/t AgEq, comprising 67 g/t Ag, 0.43% Pb and 1.03% Zn, including a 24.38 m interval (from 62.15 m to 86.53 m) grading 331 g/t AgEq, comprising 251 g/t Ag, 0.69% Pb and 1.66 Zn%. From 171.34 m to 685.0 m, the hole intersected a 513.66 m gold interval grading 0.72 g/t Au and 7 g/t Ag, including a 112.11 m interval (from 450.42 m to 562.53) grading 1.82 g/t Au and 9 g/t Ag. This hole was terminated in gold mineralization at 688 m depth due to down hole drill difficulties.

Hole DCAr0078 intersected, from 24.2 m to 174.4 m, a 150.20 m silver interval grading 45 g/t AgEq, comprising 12 g/t Ag, 0.22% Pb and 0.69% Zn, and, from 179.3 m to 848 m, a 668.7 m gold interval grading 0.48 g/t Au, 5 g/t Ag and 0.22% Zn. This hole is collared in the southern portion of the Central Valley, about 110 m to the southeast of hole DCAr0067.

Hole DCAr0081 intersected, from 4.93 m to 136.72 m, a 131.79 m silver interval grading 93 g/t AgEq, comprising 42 g/t Ag, 0.51% Pb and 0.95% Zn, and, from 141.5 m to 545.75 m, a 404.25 m gold interval grading 0.42 g/t Au, 7 g/t Ag, 0.18% Pb and 0.45% Zn, and, from 579.2 m to 664.74 m, a second gold interval of 85.54 m grading 0.65 g/t Au, 6 g/t Ag and 0.1% Cu.

2023 Drill Program and Resource Estimates for THE Carangas Project

The Company plans to drill 15,000 m during the first quarter of 2023 at Carangas to test the eastern extension of gold mineralization beneath the East Dome and expand parts of the shallow silver horizon. Following this drill program, an inaugural resource estimate is planned in the second quarter of 2023.

Notes:

1. Drill location, altitude, azimuth, and dip of drill holes are provided in Table 2
2. Drill intercept is core length, and grade is length weighted. True width of mineralization is unknown due to early stage of exploration without adequate drill data.
3. Calculation of silver equivalent (“AgEq”) is based on the long-term median of the August 2021 Street Consensus Commodity Price Forecasts, which are US$22.50/oz for Ag, US$0.95/lb for Pb, US$1.10/lb for Zn, US$3.40/lb for Cu, and US$1,600/oz for Au. The formula used for the AgEq calculation is as follows: AgEq = Ag g/t + Pb g/t * 0.0029 + Zn g/t * 0.00335 + Cu g/t * 0.01036 + Au g/t * 71.1111. This calculation assumes 100% recovery. Due to the early stage of the Project, the Company has not yet completed metallurgical test work on the mineralization encountered to date.
4. A cut-off of 20 g/t AgEq is applied to calculate the length-weighted intercept. At times, samples lower than 20 g/t AgEq may be included in the calculation of consolidation of mineralized intercepts.

Figure 1 Simplified Geology and Drill Plan Map of Carangas QUALITY ASSURANCE AND QUALITY CONTROL

QUALIFIED PERSON

The scientific and 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 National Instrument 43-101 — Standards of Disclosure for Mineral Projects (“NI 43-101”). The Qualified Person has verified the information disclosed herein using standard verification processes, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties or any limitations on the verification process that could be expected to affect the reliability or confidence in the information discussed herein.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Project, has released its inaugural PEA study in January 2023. The PEA study shows a post-tax NPV (5% discount) of US$726 millions and IRR 39%, underpinned by a total silver production of 171 million ounces in 14 years of mine life. At the recently discovered Carangas Silver-Gold Project, a resource drilling program of more than 50,000 meters was completed in 2022. The third project, the Silverstrike Silver-Gold Project, had a 6,000 m discovery drill program ongoing since June 2022.

FOR FURTHER INFORMATION

New Pacific Metals Corp.
Phone: (604) 633‐1368 Ext. 222
U.S. & Canada toll-free: 1-877-631-0593
E-mail: invest@newpacificmetals.com
For additional information and to receive company news by e-mail, please register using New Pacific’s website at www.newpacificmetals.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

Jan 24, 2023Jan 24, 2023Alberto Montoto2023

09 Jan, 23

New Pacific Metals Reports Results of the Preliminary Economic Assessment of the 100% owned Silver Sand Deposit, Bolivia

NOTE TO READERS
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Vancouver, British Columbia – January 09, 2023 – New Pacific Metals Corp. (TSX: NUAG) (NYSE-A: NEWP) (“New Pacific” or the “Company”) is pleased to report the results of the Preliminary Economic Assessment (“PEA”) study of its 100% owned Silver Sand Project (the “Project”) in Potosi Department, Bolivia. The PEA is based on the Mineral Resource estimate which was reported on November 28, 2022 and is reported in accordance with National Instrument 43‐101 (“NI 43‐101”).

PEA Highlights:

Highlights from the PEA, with a base case silver price of US$22.50/oz are as follows (all figures in US Dollars):

Pre-Tax NPV (5%) of $1.1 billion and an IRR of 52%, and a Post-Tax NPV (5%) of $726 million and an IRR of 39%;
Using a +/- 20% sensitivity analysis for silver price, Post-Tax NPV (5%) of $1,054 million and 50% IRR at US$27/oz silver and a Post-Tax NPV (5%) of $398 million and 26% IRR at US$18/oz silver;
14-year mine life producing approximately 171 million ounces total payable silver metal;
Initial capital costs of $308 million, which includes $52 million in contingency costs;
Life-of-mine (“LOM”) sustaining capital costs total $20 million;
Average LOM operating cash cost of US$8.45/oz and total all-in sustaining cost of US$10.42/oz silver;
Annual payable metal production exceeds 15 million ounces of silver in years one through four, with LOM average annual payable metal production exceeding 12 million ounces of silver.

“This study demonstrates that the Silver Sand Project can be developed into one of the world’s largest silver mines with long life and robust economics. Its development will bring economic benefit to all stakeholders, including communities in Bolivia and shareholders of New Pacific” commented Dr. Rui Feng, CEO and Founder. “We are very pleased with the results of this PEA. Given the robust economic parameters of the Project, there is room to accommodate inflation pressure in capital or operating costs.”

AMC Mining Consultants (Canada) Ltd. (mineral resource, mining, infrastructure and financial analysis) was contracted to conduct the PEA in cooperation with Halyard Inc. (metallurgy and processing), and NewFields Canada Mining & Environment ULC (tailings, water and waste management). The PEA is based on the updated Mineral Resource estimate which was reported on November 28, 2022.

ECONOMIC RESULTS AND SENSITIVITIES

Tables 1 shows the assumptions, summarizes the projected production and the economic results of the PEA and Table 2 shows sensitivities to metal price and operating and capital cost.

Table 1. Silver Sand Open Pit Mining – Key Economic Assumptions and Results Notes:

1. LOM average
2. Includes mine operating costs, milling, tails management, mine closure and mine G&A
3. Includes operating costs, initial capital costs and sustaining capital costs

Table 2. Silver Sand Project NPV (US$M) / IRR (%) Economic Sensitivity Analysis – Post Tax

Note: Inputs for the base case (100%) are listed in Tables 1, 3 & 4. The Table 2 lists sensitivity analysis for four “Input” variables. For example, if Capex (LOM) increase by 20% (+20%), while Silver price (US$/oz), Mine operating cost (per tonne mined) and Process operating cost (per tonne milled) remain the same as the “base Case” input, then the NPV becomes $676 M and IRR is 33%. If Silver drops 20% while other Inputs remain as the “Base case”, then the NPV becomes $398 M and IRR is 26%.

Capital and Operating Costs

The Silver Sand Project has been envisioned as an open-pit mining operation with mining anticipated to be completed by a contract mining company.

Power to site will be provided via the national grid over the life of the mine. An on-site camp is envisioned to house the mine and mill personnel.

Table 3 shows a breakdown of the capital costs and Table 4 shows the main components of the operating costs.

Table 3: Total Capital Cost Estimate Note: Total capital cost items include direct, indirect and contingency costs. Totals may not add up exactly due to rounding.

Table 4: Total Operating Cost Estimate

Mining

The Silver Sand Project comprises four open pit mining areas — the Main pit, two small northern satellite pits (NP1 & NP2), and one eastern satellite pit (EP1). Open pit mining entails conventional drilling and blasting, with loading by excavator and ore haulage by trucks to a crusher or to the run-of-mine (ROM) pad. Waste is hauled to external and in-pit waste rock dumps. Open-pit mining is anticipated to commence in Year -1, with 18.5 million tonnes of pre-production mining. Peak open-pit production will be 18.9 Mt of total material in Year 1. A total of 55.4 Mt of mineralized rock is anticipated to be produced from open pit operations over the 14‑year mine life.

Processing & Metallurgy

A metallurgical program was completed at SGS Lima during 2020 to build on earlier testwork and to support the PEA. Several process flowsheet options were evaluated for the PEA, including heap leaching, froth flotation and cyanidation. The selected PEA flowsheet consists of comminution by crushing followed by semi-autogenous and ball milling, leaching with cyanide over a period of 48 hours, counter current decantation and zinc precipitation (Merrill Crowe). Zinc precipitates from Merrill Crowe will be treated for copper removal, and then smelted to produce a silver doré product.

Tailings will be thickened and then filtered with pressure filters before being conveyed to the nearby dry stack tailings facility.

The processing plant will operate year-round at a rate of approximately 4 million tonnes per annum and will achieve full throughput by Year 1. The average LOM feed grade is projected to be 107 g/t Ag.

Process water will primarily be sourced from a surface water dam adjacent to the process plant, supplemented by runoff from the waste rock and tailings storage facility.

Opportunities to Enhance Value

This PEA study confirms New Pacific’s commitment to enhancing value at the Silver Sand Project through engineering studies and resource definition. It has highlighted several key areas that can provide significant key opportunities to further enhance the value of the Silver Sand Project. These opportunities include:

Infill drilling to upgrade areas of high-grade mineralization within the current inferred resource area;
Additional drilling around the current Mineral Resources, where the deposit remains open at depth;
Detailed drilling of other known mineralized prospects beyond the areas with known Mineral Resources so as include these in future estimations;
Further metallurgical studies to improve grinding, leaching and CCD parameters under variable operating conditions;
Completing a dilution study in the next stage of study to ascertain the anticipated mining dilution and ore recovery in combination with the most appropriate mining fleet and associated costs;
Further work to identify alternative dump locations with short hauls i.e., backfill in-pit dumps, and dump in a nearby gully. Further work should be undertaken to develop a detailed waste and tailings disposal plan.

Mineral Resource estimate

The Mineral Resource estimate which used conceptual open pit mining constraints for reporting purposes has been reported in the news release of November 28, 2022. The Mineral Resources which are stated at a 30 g/t silver cut‐off grade are shown in Table 5.

Table 5: Silver Sand Deposit Mineral Resource as of 31 October 2022

Notes:

- CIM Definition Standards (2014) were used for reporting the Mineral Resources.
- The Qualified Person is Dinara Nussipakynova, P.Geo. of AMC Mining Consultants (Canada) Ltd.
- Mineral Resources are constrained by optimized pit shells at a metal price of US$22.50/oz Ag, recovery of 91% Ag and cut-off grade of 30 g/t Ag.
- Drilling results up to 25 July 2022.
- The numbers may not compute exactly due to rounding.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Source: AMC Consultants

qualified person

The Qualified Persons for the PEA are Mr. Wayne Rogers P.Eng and Mr. Mo Molavi P.Eng both Principal Mining Engineers with AMC Mining Consultants (Canada) Ltd, Mr. Andy Holloway P.Eng, Process Director with Halyard Inc., and Mr. Leon Botham P.Eng., Principal Engineer with NewFields Canada Mining & Environment ULC. This is in addition to Ms. Dinara Nussipakynova, P.Geo., Principal Geologist with AMC Consultants (Canada) Ltd. who estimated the Mineral Resources. All QPs have reviewed the technical content of this news release for the Silver Sand deposit and have approved its dissemination.

Further details supporting the PEA will be available in an NI 43‐101 Technical Report which will be posted under the Company’s profile at www.sedar.com within 45 days of this news release.

This news release has been reviewed and approved by Alex Zhang, P.Geo., Vice President of Exploration of New Pacific Metals Corp. who is the designated QP for the Company.

WEBCAST DETAILS

The Company will host a conference call and presentation webcast at 8:00 am Pacific Time / 11:00 am Eastern Time on Tuesday, January 10^th, 2023 to provide further information. Participants are advised to dial in five minutes prior to the scheduled start time of the call. A presentation will be made available on the Company’s website prior to the webcast. Webcast details:

Date:               Tuesday, January 10th, 2023, 8:00 am Pacific Time / 11:00 am Eastern Time Toll-free:          Canada/USA 1-800-319-4610
                        Toronto +1-416-915-3239
                        International 1-604-638-5340 Webcast:         https://www.gowebcasting.com/12415

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Project, according to its 2022 Mineral Resource Estimate, 94% of the metal is contained in Measured + Indicated consisting of 201.8 M oz silver at 116 g/t Ag, with 13.0 M oz silver at 88 g/t Ag contained in the Inferred category. At the recently discovered Carangas Silver-Gold Project, a resource drilling program of more than 50,000 meters was completed in year 2022. The third project, the Silverstrike Silver-Gold Project, had a 6,000 meters discovery drill program in June 2022, and a near-surface broad gold zone was discovered in its first drill hole.

On behalf of New Pacific Metals Corp.
Dr. Rui Feng
Director and CEO

FOR FURTHER INFORMATION

New Pacific Metals Corp.
Phone: (604) 633‐1368 Ext. 222
U.S. & Canada toll-free: 1-877-631-0593
E-mail: invest@newpacificmetals.com

For additional information and to receive company news by e-mail, please register using New Pacific’s website at www.newpacificmetals.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

Jan 9, 2023Jan 25, 2023Alberto Montoto2023

05 Dec, 22

New Pacific Announces 2022 AGM Results And Appoints New Directors

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Vancouver, British Columbia – December 2, 2022 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP) is pleased to report that all matters submitted for approval at New Pacific’s annual meeting of shareholders held today (“AGM”) as set out in the Company’s Notice of Meeting and Management Information Circular, both dated October 24, 2022, were approved by the requisite majority of votes cast at the AGM. A total of 121,349,139 common shares, representing 77.43% of the votes attached to all outstanding shares as at the record date for the meeting, were represented at the AGM.

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

Shareholders also approved the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year. Final results for all matters voted on at the AGM will be filed on SEDAR at www.sedar.com and on the Company’s website.

The Company would like to welcome Dr. Peter Megaw and Mr. Dickson Hall to the Board of Directors. Mr. Jack Austin and Mr. David Kong did not stand for re-election as directors. The Company thanks Mr. Austin and Mr. Kong for their valuable contributions over the years.

Dr. Peter Megaw, C.P.G. has over 30 years of experience with a focus on silver and gold exploration. He is a director of Relevant Gold Corp., Minaurum Gold Inc. and Jade Leader Group. Dr. Megaw is a certified professional geologist of the American Institute of Professional Geologists and an Arizona Registered Geologist. Dr. Megaw has been instrumental in many mineral discoveries in Mexico. He received the PDAC’s 2016 Thayer Lindsley Award.

Mr. Hall has over 40 years of experience in finance and corporate development, with a strong emphasis on the mining sector. He is a Partner at Valuestone Advisors Limited, sole advisor of Valuestone Global Resource Fund 1, a director of Bunker Hill Mining Corp. and MEC Advisors Limited. He is also the sole manager of Can-China Global Resources Fund and a former consultant for Hunter Dickson Inc. Fluent in Mandarin and well-experienced in Chinese business culture, Mr. Hall has worked with an extensive group of multinationals, trade associations and government organizations with China operations, including British Petroleum, Ranger Petroleum, BC Council of Forest Industries, Government of Canada, Government of British Columbia. Mr. Hall is a graduate of the University of British Columbia.

ABOUT NEW PACIFIC METALS

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Project, 2022 MRE 94% in Measure + Indicated: 201.8 M oz at 116 g/t Ag. Inferred: 13.0 M oz at 88 g/t Ag. Measured and Indicated Ag increased 30%; PEA early Jan 2023. The recently discovered Carangas Silver-Gold Project is undergoing a 40,000 m drill program. The third project, the Silverstrike Silver-Gold Project, commenced a 6,000 m discovery drill program in June 2022, and a near-surface broad gold zone was discovered in its first drill hole.

On behalf of New Pacific Metals Corp.
Dr. Rui Feng
Director and CEO

FOR FURTHER INFORMATION

New Pacific Metals Corp.
Phone: (604) 633‐1368 Ext. 222
U.S. & Canada toll-free: 1-877-631-0593
E-mail: invest@newpacificmetals.com

For additional information and to receive company news by e-mail, please register using New Pacific’s website at www.newpacificmetals.com.

Dec 5, 2022May 11, 2023Alberto Montoto2022

28 Nov, 22

New Pacific Metals Reports an updated Mineral Resource Estimate for the Silver Sand Deposit, Bolivia – Increases Silver Ounces in Measured and Indicated Mineral Resources by 30%

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Vancouver, British Columbia – November 28, 2022 –New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP) is pleased to announce an updated Mineral Resource Estimate for the Silver Sand Project (the “Project’), which is part of the on-going Preliminary Economic Assessment (“PEA”) study of the Project. The PEA study is on track to be completed by the end of 2022. The Mineral Resource is reported in accordance with National Instrument 43‐101 (“NI 43‐101”) for its 100% owned Silver Sand Project, Bolivia. The estimate was completed by AMC Mining Consultants (Canada) Ltd. (“AMC Consultants”).

MINERAL RESOURCE ESTIMATES

The Mineral Resource Estimate used conceptual open pit mining constraints for reporting purposes and is presented in Table 1. Mineral Resources are stated at a 30 g/t silver cut‐off grade and the model is depleted for historical mining activities:

Table 1. Silver Sand Deposit Mineral Resource as of 31 October 2022

Notes:

- CIM Definition Standards (2014) were used for reporting the Mineral Resources.
- The Qualified Person is Dinara Nussipakynova, P.Geo. of AMC Mining Consultants (Canada) Ltd.
- Mineral Resources are constrained by optimized pit shells at a metal price of US$22.50/oz Ag, recovery of 91% Ag and cut-off grade of 30 g/t Ag.
- Drilling results up to 25 July 2022.
- The numbers may not compute exactly due to rounding.
- Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Source: AMC Consultants

The assumptions for the open pit optimization exercise to constrain the Mineral Resource and conform to reasonable prospects for eventual economic extraction are shown in Table 2.

Table 2. Assumptions for pit optimization

A comparison of the 2019 and 2022 Mineral Resource Estimates are shown in Table 3. The footnotes to Table 1 and Table 3 summarize the differences in the assumptions between the two estimates, most notably silver price, recovery, and cut-off grade. An increased mining cost assumption for the 2022 estimate has resulted in an optimum pit shell that does not go as deep as the 2019 estimate.

Table 3. Comparison between 2019 and 2022 Mineral Resources <style=”margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;”>Notes:

- These are the pertinent footnotes for the 2019 Mineral Resources.
- The notes pertaining to the 2022 Mineral Resources are shown below Table 1.
- Other than the following the same notes apply for both estimates.
- Mineral Resources are constrained by an optimized pit shell at a metal price of US$18.70/oz Ag, recovery of 90% Ag and cut-off grade of 45 g/t Ag.
- Mineral Resources are reported inside the Claim boundary.
- Pit optimization allows waste mining to extend outside the claim to the NE and SW, but no mineralization outside the Administrative Mining Contract is included.
- Drilling results up to 31 December 2019.

Source: AMC Consultants

The majority of the Mineral Resources lie within the Administrative Mining Contract (“AMC”). Table 4 shows the split of the 2022 Mineral Resource within the AMC boundary and outside the boundary. Since the 2019 Mineral Resources were reported, a subsequent agreement with COMIBOL permits the reporting of Mineral Resources outside the AMC. Mineral resources outside the AMC boundary will be subject to a royalty of 6% payable to COMIBOL during production stage according to the agreement reached with COMIBOL.

Table 4. Mineral Resources within and outside the AMC

HIGHLIGHTS

Silver Sand is one of the most significant new global primary silver discoveries in the last decade.
Mineralization remains open on strike to the North and South and at depth. No feeder zones or source intrusions have been discovered to date. The Company classifies the exploration potential as good to excellent.
Estimated Measured and Indicated Mineral Resources have increased by 30%, this partly the result of infill drilling upgrading Inferred Mineral Resources.
Detailed drilling indicates good mineral continuity to provide high confidence – lower technical risk. Measured & Indicated Mineral Resources of 54.26 Mt @ 116 g/t Ag for 201.77 Moz or 94% of the total estimate.
Mineralization starts at or near‐surface and is amenable to potential open‐pit mining extraction. Approximately 95% of the reported Mineral Resources are within 200 m of the topographic surface.
Favorable initial metallurgical test work indicates laboratory‐based recoveries of up to 97% for the various oxide – transition and sulphide mineral domains (see news release dated 23 August 2019 for details). More detailed metallurgy testwork is being carried out to facilitate future design of processing plant.
The PEA study is well on track to be complete by the end of 2022.
In addition to the currently reported Mineral Resources, there are numerous known satellite mineral occurrences in the district of six kilometers long by two and half kilometers wide. These mineral occurrences demonstrate similar mineralization style and grades to Silver Sand, subjected to extensive artisanal mining starting from Spanish colonial time and bore little modern exploration. The Company believes these satellite occurrences have good resource potential.

RESOURCE ESTIMATE DETAILS

The Mineral Resource Estimate is based on a geological model that included assay results received by New Pacific for the Silver Sand deposit to 25 July 2022. Mineralization wireframes were constructed by New Pacific with LeapFrog© software. The 131 domains were reviewed by the independent Qualified Person (“QP”) and were accepted for estimation purposes. Over 82% of the volume was contained in the two largest domains.

AMC completed an ordinary kriging (“OK”) estimate on the four largest domains and inverse distance squared (“ID²”) was used in the other domains. Prior to estimation, drillhole data were composited to an average of 1.2 m samples and were capped for all variables within each domain where required. Capping value for silver was 2,000 g/t Ag for all domains.

In addition to the estimate completed inside the domains, a background OK estimate was also completed outside of mineralization wireframes.

For the mineralized domains the parent block size was 2.5 mE x 5 mN x 2.5 mRL with sub‐blocking employed. Sub‐blocking resulted in minimum cell dimensions of 1.25 mE x 0.5 mN x 1.25 mRL.

The background mineralization (outside the mineralization domains) was estimated with a parent block dimension of 5 mE x 10 mN x 5 mRL.

As mineralization is hosted in one rock type, the QP assigned bulk density measurements to the block model based on the mean bulk density. Density values of 2.54 tonnes/m³ was assigned to both blocks inside and outside of the mineralized domains.

Mineral Resource classification was completed using an assessment of geological and mineralization continuity, data quality and data density. Estimation passes were used as an initial guide for classification. Wireframes were then generated manually to build coherent volumes for the different classes. The block model was classified as Measured, Indicated, and Inferred Mineral Resources as appropriate.

QUALITY ASSURANCE AND QUALITY CONTROL and DATA VERIFICATION

HQ‐size drill core samples from altered and mineralized intervals are split into halves by diamond saw, with an average sample length of between one to one and a 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 storage facility in Betanzos for future reference, with the other half 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 (“QA/QC”) protocol is employed to monitor the quality of sample preparation and analysis. Standards of certified reference materials and blanks are inserted into the normal core sample sequences prior to shipping to the 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 are sent to a second internationally accredited lab for check analysis. The assay results of QA/QC samples of standards and blanks do not show any significant bias of analysis or contamination during sample preparation.

The QP, Dinara Nussipakynova, P.Geo. considers sample preparation, analytical, and security protocols employed by New Pacific to be acceptable. The QP has reviewed the QA/QC procedures used by New Pacific including the use of certified reference materials, blank, duplicate, and umpire data, and considers the assay database to be adequate for Mineral Resource estimation.

The QP also carried out data verification both on site and on the database. This included a review of the assay database and collar locations. The QP considers the assay database to be acceptable for Mineral Resource estimation.

qualified person

The Mineral Resource Estimate and data verification was completed by Ms Dinara Nussipakynova, P.Geo., Principal Geologist with AMC Consultants who is the QP for the purpose of NI 43‐101 for all technical information pertaining to the current Mineral Resource. New Pacific’s quality assurance and quality control program was reviewed by the QP who has also reviewed the technical content of this news release for the Silver Sand deposit and have approved its dissemination.

Further details supporting the geological model, estimation procedure and metallurgical testwork will be available in an NI 43‐101 Technical Report disclosing the results of the PEA which will be posted under the Company’s profile at www.sedar.com in early 2023.

This news release has been reviewed and approved by Alex Zhang, P.Geo., Vice President of Exploration of New Pacific Metals Corp. who is the designated QP for the Company.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Deposit, is expecting a new Mineral Resource Estimate Update and a PEA by the end of 2022. The recently discovered Carangas Silver-Gold Project is undergoing a 40,000 m drill program. The third project, the Silverstrike Silver-Gold Project, commenced a 6,000 m discovery drill program in June 2022 and discovered a near surface broad gold zone in its first drill hole.

For further information, contact:

New Pacific Metals Corp.

Dr. Rui Feng, CEO

Phone: (604) 633-1368

Fax: (604) 669-9387

info@newpacificmetals.com

www.newpacificmetals.com.

Cautionary Statements Regarding Estimates of Mineral Resources

This news release uses the terms measured, indicated and inferred resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio‐ political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43‐101. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre‐feasibility studies or economic studies except for Preliminary Assessment as defined under NI 43‐101. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.

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, 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.

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.

Nov 28, 2022May 11, 2023Alberto Montoto2022

22 Nov, 22

New Pacific Announces Filing of The Carangas Project Technical Report

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VANCOUVER, British Columbia – November 22, 2022 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP), announces today the filing of a technical report entitled “Carangas Project Technical Report” with an effective date of June 16, 2022 (the “Technical Report”) prepared by Donald J. Birak, SME, AusIMM Fellow, a Qualified Person as defined by National Instrument 43-101.

The Technical Report was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

A copy of the Technical Report is available under the Company’s profile on SEDAR at www.sedar.com, on Edgar at www.sec.gov, and on the Company’s website at www.newpacificmetals.com.”

ABOUT NEW PACIFIC

For further information, please contact:

New Pacific Metals Corp.

Phone: (604) 633-1368 Ext. 222

U.S. & Canada toll-free: 1-877-631-0593

E-mail: invest@newpacificmetals.com

For additional information and to receive company news by e-mail, please register using New Pacific’s website at www.newpacificmetals.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

Nov 22, 2022May 11, 2023Alberto Montoto2022

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