New Pacific Metals Announces Permanent CEO and CFO Appointments
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NEWS RELEASE
New Pacific Metals Announces Permanent CEO and CFO Appointments
October 23, 2025, Vancouver, British Columbia – New Pacific Metals Corp. (TSX: NUAG; NYSE American: NEWP)
(“New Pacific” or the “Company”) is pleased to announce that it has appointed M r. Jalen Yuan as permanent
Chief Executive Officer ("CEO") and Chester Xie as permanent Chief Financial Officer (“CFO”), effective today. Mr.
Yuan has also been appointed to the Company’s board of directors (the “Board”). This announcement follows
the appointments of Mr. Yuan and Mr. Xie as Interim CEO and Interim CFO, respectively, in April 2025.
After assessing M r. Yuan's considerable contributions as Interim CEO and h is depth of experience having
previously serv ed as the Company’s CFO , the Board determined that he is the best -qualified individual to
continue to advance the Silver Sand and Carangas Projects and build value for our shareholders.
Additionally, the Company announced today that Dr. Peter Megaw’s term as a director is ending at the closing
of this year’s Annual General Meeting and he will not be standing for re-election.
“On behalf of the Board of Directors, I’m pleased to welcome Jalen and Chester in their permanent positions
respectively as CEO and CFO. Following a robust period of progress under Jalen’s guidance, the Board is pleased
to confirm both Jalen and Chester’s appointments and looks forward to working with them as we move to the
next phase in advancing our projects in Bolivia, ” Dickson Hall, New Pacific’s Board Chair, said in a statement. “I
want to thank Dr. Peter Megaw for his invaluable contributions to the C ompany and the role he played in
providing strategic and technical advice to senior management on its exploration activities in Bolivia.”
“It is an honour to be appointed CEO of New Pacific ,” said Mr. Yuan. “The Silver Sand and Carangas Projects
represent a world-class opportunity, and I am committed to delivering positive outcomes for our shareholders,
our stakeholders in Bolivia, and our team. I look forward to building on our progress and advancing these projects
responsibly and successfully.”
About New Pacific Metals
New Pacific is a Canadian exploration and development company with three precious metal projects in Bolivia.
The Company’s flagship Silver Sand project has the potential to be developed into one of the world’s largest
silver mines. The Company is also advancing its robust, high-margin silver-lead-zinc Carangas project. Additionally
a discovery drill program was completed at Silverstrike in 2022.
For Further Information
Peter Lekich, Investor Relations
Phone: (604) 633‐1368 Ext. 223
U.S. & Canada toll-free: 1-877-631-0593
E-mail: [email protected]
For additional information and to receive company news by e-mail, please register using New Pacific’s website
at www.newpacificmetals.com.
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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 applicab le 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 alway s, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”,
“projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “sched ules”, “potential” or variations
thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be ach ieved, 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: the future plans, objectives or expectations of the Company.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that c ould cause actual
events or results to differ from those reflected in the forward -looking statements or information, includ ing, without limitation, risks relating to: global
economic and social impact of public health crisis; 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, environment al 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 t he year ended June 30, 2025 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 managem ent 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: public health crisis 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 approva l of the Mining Production
Contract with Corporación Minera de Bolivia, the Bolivian state mining corporation, by the Plurinational Legislative Assembly of Bolivia; the ability of the
Company’s Bolivian partner to convert the exploration licenses at the Company’s Carangas project to Administrative Mining Co ntract; the ability to meet
current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and fut ure 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. Additional information relating to the Company, including the AIF, can b e obtained under the Company’s profile on SEDAR+
at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company’s website at www.newpacificmetals.com.