New Pacific Announces Leadership Transition
NEWS RELEASE
Trading Symbol: TSX-V: NUAG
OTCQX: NUPMF
NEW PACIFIC ANNOUNCES LEADERSHIP TRANSITION
Vancouver, British Columbia – (April 27, 2020) – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX:
NUPMF) (“New Pacific” or the “Company”) announces that Dr. Rui Feng, New Pacific’s founder and Chief
Executive Officer (”CEO”), has stepped down as CEO. Dr. Mark Cruise, New Pacific’s Chief Operating
Officer (“COO”), is appointed CEO, effective immediately.
Dr. Feng will remain as a director of the Company a nd will continue to be involved with the direction,
strategy and governance of New Pacific.
“After incubating New Pacific from a grassroots exp loration company to a successful explorer and
developer following the discovery of the Silver Sand Deposit in Bolivia, it is a time for transition,” said Dr.
Feng. “As part of the Company’s succession planning, Dr. Cruise joined the Company six months ago as
COO. Over this time, he has shown great capacity i n leadership and extensive expertise in advancing
projects. Under his leadership, I am confident tha t the Company will make more discoveries and be
successful in advancing the Silver Sand Project fro m current state to development and in enhancing
shareholder value as the Company quickly evolves into its next level of growth.”
Since the acquisition of Silver Sand in July 2017, New Pacific has drilled over 90,000 metres in one of the
largest greenfield exploration campaigns in Latin A merica during the period. This culminated in the
inaugural Silver Sand Mineral Resource estimate on April 14, 2020 which defined the following silver
resources (the Company’s first independent National Instrument 43-101 (“NI 43-101”) Mineral Resource
estimate was prepared by AMC Mining Consultants (Ca nada) Ltd. (“AMC”); please see April 14, 2020
news release for further details):
• Measured & Indicated tonnage of 35.4 Mt @ 137 g/t Ag for 155.9 Moz contained Ag.
• Inferred tonnage of 9.8 Mt @ 112 g/t Ag for 35.6 Moz contained Ag.
The Silver Sand Deposit remains open for expansion.
The rapid development of the project in less than three years has led to strong returns for shareholders
and established New Pacific as a premier silver development company.
Jack Austin, Chairman, commented, “On behalf of the Board, I want to recognize the immense
contribution Rui has made to New Pacific by identifying and acquiring the Silver Sand Project, providing
his visionary leadership and exploration expertise that led to this world-class discovery and, ultimat ely,
the achievement of an inaugural resource, showcasin g a new globally significant silver deposit. The
Board is fortunate to have Rui remain as a Director , and looks forward to Mark steering the Company
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along the path of success that Rui has set. Mark’s track record of leadership and successfully developing
discoveries into mines in Latin America will serve the Company well as he takes the reins.”
Dr. Cruise stated, “I am honoured to assume the role of CEO and the opportunity to lead New Pacific as
we cement our position as the next major silver dev eloper. The Company’s priority is to advance and
de-risk our flagship Silver Sand Deposit to product ion in addition to building upon and leveraging our
exploration expertise to continue to unlock value for our stakeholders in this emerging silver district and
throughout the region.”
About New Pacific
New Pacific is a Canadian exploration and developme nt company focused on the Silver Sand Deposit in
Potosí Department, Bolivia, which hosts a Measured & Indicated Mineral Resource of 35.39 Mt @ 137
g/t Ag for 155.86 Moz, plus 9.84 Mt @ 112 g/t Ag for 35.55 Moz in the Inferred category.
For further information, contact:
New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
www.newpacificmetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the p olicies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY STATEMENTS REGARDING ESTIMATES OF MINERAL RESOURCES
This news release uses the terms measured, indicate d and inferred resources as a relative measure of t he level of
confidence in the resource estimate. Readers are ca utioned that mineral resources are not economic min eral
reserves and that the economic viability of resourc es that are not mineral reserves has not been demon strated. The
estimate of mineral resources may be materially aff ected by geology, environmental, permitting, legal, title, socio-
political, marketing or other relevant issues. The mineral resource estimate is classified in accordan ce with the
Canadian Institute of Mining, Metallurgy and Petrol eum's "CIM Definition Standards on Mineral Resource s and
Mineral Reserves" incorporated by reference into NI 43-101. Under Canadian rules, estimates of inferre d 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 st ated
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 n ews release constitute “forward-looking information ” within the
meaning of applicable Canadian provincial securitie s laws. Any statements or information that express or involve
discussions with respect to predictions, expectatio ns, beliefs, plans, projections, objectives, assump tions or future
events or performance (often, but not always, using words or phrases such as “expects”, “is expected”,
“anticipates”, “believes”, “plans”, “projects”, “es timates”, “assumes”, “intends”, “strategies”, “targ ets”, “goals”,
“forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that c ertain actions,
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events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the ne gative of any
of these terms and similar expressions) are not sta tements of historical fact and may be forward-looki ng
statements or information.
Forward-looking statements or information are subje ct to a variety of known and unknown risks, uncerta inties and
other factors that could cause actual events or res ults to differ from those reflected in the forward- looking
statements or information, including, without limit ation, risks relating to: fluctuating equity prices , bond prices,
commodity prices; calculation of resources, reserve s and mineralization, foreign exchange risks, inter est 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 statem ents or
information. Forward-looking statements or informat ion are statements about the future and are inheren tly
uncertain, and actual achievements of the Company o r other future events or conditions may differ mate rially from
those reflected in the forward-looking statements o r information due to a variety of risks, uncertaint ies and other
factors, including, without limitation, those refer red 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 i mportant
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. Acco rdingly, 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, expecta tions and
opinions of management as of the date of this news release, and other than as required by applicable s ecurities
laws, the Company does not assume any obligation to update forward-looking statements or information i f
circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any
other events affecting such statements or informati on. For the reasons set forth above, investors shou ld not place
undue reliance on forward-looking statements or information.
CAUTIONARY NOTE TO US INVESTORS
This news release has been prepared in accordance w ith the requirements of NI 43-101 and the Canadian Institute
of Mining, Metallurgy and Petroleum Definition Stan dards, which differ from the requirements of U.S. S ecurities
laws. NI 43-101 is a rule developed by the Canadia n Securities Administrators that establishes standa rds for all
public disclosure an issuer makes of scientific and technical information concerning mineral projects.