New Pacific Reports Financial Results FOR
NEWS RELEASE
Trading Symbol: TSX-V: NUAG
OTCQX: NUPMF
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR
THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2019
VANCOUVER, BRITISH COLUMBIA – February 13, 2020: Ne w Pacific Metals Corp. (“New Pacific” or the
“Company”) today announced its unaudited condensed consolidated interim financial results for the thre e
and six months ended December 31, 2019.
This news release should be read in conjunction wit h the Company's management discussion & analysis an d
the financial statements and notes thereto for the corresponding period, which have been posted under the
Company’s profile on SEDAR at www.sedar.com and are also available on the Company's website at
www.newpacificmetals.com. All figures are expressed in Canadian dollars unless otherwise stated.
FINANCIAL HIGHLIGHTS
Net loss attributable to equity holders of the Company for the three months ended December 31, 2019 was
$1,599,824 or $0.01 per share (three months ended December 31, 2018 - net income of $473,838 or $0.00 per
share). The Company’s financial results were mainly impacted by the following: (i) income from investments of
$339,654 compared to income of $65,926 in the prior year quarter; (ii) operating expenses of $1,625,13 3
compared to $658,722 in the prior year quarter; and (iii) foreign exchange loss of $322,879 compared to gain of
$1,065,279 in the prior year quarter.
For the six months ended December 31, 2019, net los s attributable to equity holders of the Company was
$313,886 or $0.00 per share compared to net loss of $278,745 or $0.00 per share for the six months end ed
December 31, 2018.
Income from investments for the three months ended December 31, 2019 was $339,654 (three months ended
December 31, 2018 – income of $65,926). Within the income from investments, $142,178 was gain on the
Company’s equity investments and $189,594 was gain from fair value change and interest earned on bonds.
For the six months ended December 31, 2019, income from investments was $2,455,102 compared to gain of
$183,123 for the six months ended December 31, 2018.
Operating expenses for the three and six months ended December 31, 201 9 were $1,625,133 and
$2,634,073, respectively (three and six months ende d December 31, 2018 - $658,722 and $1,189,995,
respectively).
Foreign exchange loss for the three months ended December 31, 2019 was $ 322,879 (three months ended
December 31, 2018 – gain of $1,065,279). The Compa ny holds a large portion of cash and cash equivalen ts
and bonds in US dollars while the Company’s functio nal currency is Canadian dollar. The fluctuation i n
exchange rates between the US dollar and the Canadi an dollar will impact the financial results of the
Company. During the three months ended December 31, 2019, the US dollar depreciated by 1.9% against the
Canadian dollar (from 1.3243 to 1.2988) while in th e prior year quarter the US dollar appreciated by 5 .4%
against the Canadian dollar (from 1.2945 to 1.3642).
For the six months ended December 31, 2109, foreign exchange loss was $146,537 (six months ended
December 31, 2018 – foreign exchange gain of $720,437).
BOUGHT DEAL FINANCING
On October 25, 2019, the Company successfully close d a bought deal financing underwritten by BMO Capit al
Markets to issue a total of 4,312,500 common shares at a price of $4.00 per common share for gross
proceeds of $17,250,000. The underwriter’s fee and other issuance costs for the transaction were
$1,416,467.
SILVER SAND PROJECT
Since acquired by New Pacific in 2017, the Company has carried out extensive risk exploration drilling
program on its 100% owned Silver Sand Project. During 2017-2018 discovery exploration drilling campaign, a
total of 195 holes in 55,011.8 metres (“m”) of dril ling were completed. During the 2019 drilling campa ign, a
total of 191 drill holes in 42,607.25m of drilling were completed. From 2017 to the end of 2019, the
Company has completed 97,619.05m of drilling in 386 drill holes. For details of the drilling programs , please
review the Company’s news releases dated January 22, 2019, February 20, 2019, April 25, 2019, June 6, 2019,
August 7, 2019, August 20, 2019, August 23, 2019, August 27, 2019, December 2, 2019, and January 13, 2020
available under the Company’s profile on SEDAR at w ww.sedar.com or on the Company’s website at
www.newpacificmetals.com. On November 4, 2019, the Company filed and updated a technical report for
the Silver Sand Project pursuant to National Instru ment 43-101 – Standards of Disclosure for Mineral
Projects. A copy of this technical report is avail able under the Company’s profile under SEDAR at
www.sedar.com.
For the three and six months ended December 31, 201 9, total expenditures of $3,697,610 and $8,537,035,
respectively (three and six months ended December 3 1, 2018 - $3,413,976 and $6,593,939, respectively)
were capitalized under the project for expenditures related to the 2019 drilling program, site and cam p
service and construction, and maintaining a regional office in La Paz, a management team, and workforc e for
the project.
In December 2019, the Company further expanded its Silver Sand land package by acquiring a 100% intere st
in a Special Temporary Authorization (“ATE”) locate d immediately to the north of the project by making a
one-time cash payment of US$200,000 to arm’s length private owners. This newly acquired ATE currently
consists of six hectares but will total approximate ly 0.50 square kilometres once it has been consolid ated to
concessions called “Cuadriculas” and converted to M ining Administrative Contract with Bolivia’s Autori dad
Jurisdiccional Administrativa Minera (“AJAM”).
SILVERSTRIKE PROJECT
In December 2019, the Company, through its wholly-o wned subsidiary, signed an agreement with an arm’s
length private Bolivian corporation (the “Vendor”) to acquire a 98% interest in the Silverstrike silve r project
from the Vendor by making a one-time cash payment o f US$1,350,000. The Company will cover 100% of the
future expenditures of exploration, mining, develop ment and production activities. The agreement has a
term of 30 years and renewable for another 15 years without any payment and is subject to an approval by
AJAM in Bolivia.
The Silverstrike Project, at an elevation of 4,000 to 4,500 metres, is located approximately 140 kilom etres
(“km”) southwest of La Paz, Bolivia or approximatel y 450 km northwest of the Company’s Silver Sand
Project. The Silverstrike Project consists of nine ATEs with an area of approximately 13km² currently in the
process of conversion to Mining Administrative Cont racts before AJAM. The Vendor has also applied for
exploration rights over areas surrounding the Silverstrike Project as part of the transaction.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and developme nt company which owns the Silver Sand Project, in t he
Potosí Department of Bolivia, and the Tagish Lake Gold Project in Yukon, Canada.
For further information, please 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 polic ies 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 n ews release constitute “forward-looking statements” within the
meaning of the United States Private Securities Lit igation Reform Act of 1995 and “forward-looking inf ormation”
within the meaning of applicable Canadian provincia l securities laws. Any statements or information t hat express
or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objecti ves, assumptions
or future events or performance (often, but not alw ays, 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,
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 informa tion are statements about the future and are inhere ntly
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 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. Acc ordingly, readers should not place undue reliance o n 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 sho uld not place
undue reliance on forward-looking statements or information.