New Pacific Metals Expands Land Position FOR Silver SAND Project Through Mining Production Contract with Comibol
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NEWS RELEASE
Trading Symbol: TSX-V: NUAG / OTCQX: NUPMF
NEW PACIFIC METALS EXPANDS LAND POSITION FOR SILVER SAND PROJECT THROUGH
MINING PRODUCTION CONTRACT WITH COMIBOL
VANCOUVER, British Columbia – January 11, 2019 – Further to its press release of July 25, 2018,
New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to announce that the
Company, through its wholly -owned subsidiary, Empresa Minera Alcira S.A. (“Alcira”), has
entered into a Mining Producti on Contract (the “ MPC”) with Corporación Minera de Bolivia
(“COMIBOL”) granting the C ompany the right to carry out exploration, mining, and production
activities in the areas adjoining the Company ’s Silver Sand Project located in the Potos í
Department, Bolivia. The MPC was approved by Bolivia’s Ministry of Mining and Metallurgy on
January 7 , 201 9 and a signing ceremony is planned to be held in Potos í on January 14, 2019
where the Honourable César Navarro Miranda, the Minister of Bolivia ’s Ministry of Mining and
Metallurgy, Ing. Zelmar Andia, the President of COMIBOL, and Bernardo Peredo, Representative
of the Embassy of Canada in Bolivia, among others, are anticipated to attend. The MPC remains
subject to ratification by the Plurinational Legislative Assembly of Bolivia which the parties
expect to receive in due course.
Major Terms of the MPC
MPC covers an area of up to 56.9098 square kilometres, involving two separate areas.
The first area consists of 29 Special Temporary Authorizations ( “ATEs”) located directly
west of Silver Sand. The second area may include an additional 201 mining grids or
cuadrículas1 to the north, the east and the south of Silver Sand.
MPC has a validity of 45 years which consists of three phases of 15 years each . The first
phase of the MPC will include five years of exploration, and, if applicable, environmental
studies, engineering studies, pre -feasibility and feasibility studies as well as
development and pilot production. The second and third phases of the MPC will cover,
full commercial production, environmental studies, and mine closure.
Alcira will commit to a minimum investment of USD 5,935,000 during the first five years
of the MPC for mineral exploration and related activities.
If commercial production commences, COMIBOL will receive a 4% gross sales value of all
minerals produced from the COMIBOL areas covered under the MPC.
“We are very pleased to have reached this historic agreement with COMIBOL,” said Dr. Rui Feng,
CEO of New Pacific. “This agreement adds sign ificant exploration upside to our existing land
holdings and raises the Silver Sand Project to a district scale operation.”
1 The cuadrícula is the unit of measurement used in the Bolivian mining sector. It has a surface area of 25
hectares.
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Gordon Neal, President of New Pacific said, “The MPC is a first of its kind agreement between a
public resource company and the Bolivian government. I commend the Minister of Mines and
Metallurgy and the President of COMIBOL for committed focus to complete this transaction. It
is a benchmark achievement that shows that Bolivia is open to foreign investment.”
The Company is preparing information on the drilling program and work conducted on the Silver
Sand project over the last several months and expects to announce results in stages over the
next few weeks.
ABOUT NEW PACIFIC
New Pacific is a Canadian ex ploration and development company which owns the Silver Sand
Project in the Potos í Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and
the RZY Project in Qinghai Province, China. Its largest shareholders are Silvercorp Metals Inc.
(TSX/NYSE American: SVM), and Pan American Silver Corp. (TSX/NASDAQ: PAAS), one of the
world's largest primary silver producers, which operates six mines, including the San Vicente
mine located in the Potosí Department of Bolivia.
For further information, please contact:
New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
www.newpacificmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this press release constitute “forward -looking information”
within the meaning of applicable Canadian provincial securities laws. Any statements or information that
express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,
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exchange risks, inte rest rate risk, foreign investment risk ; loss of key personnel; conflicts of interest;
dependence on management and others.
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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 inf ormation 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, 201 8 under the heading “Risk Factors”. Although the
Company has attem pted to identify important factors that could cause actual results to differ materially,
there may be other factors that cause results not to be as anticipated, estimated, described or intended.
Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company’s forward -looking statements or information are based on the assumptions, beliefs,
expectations and opinions of management as of the date of this press release, and other than as required
by applicable se curities 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 state ments or information. For the
reasons set forth above, investors should not place undue reliance on forward -looking statements or
information.