New Pacific Reports Financial Results for
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NEWS RELEASE
New Pacific Reports Financial Results for
the Three and Nine Months Ended March 31, 2025
VANCOUVER, BRITISH COLUMBIA – May 7, 2025: New Pacific Metals Corp. (“New Pacific” or the “Company”)
reports its financial results for the three and nine months ended March 31, 2025. All figures are expressed in US
dollars unless otherwise stated.
FINANCIAL RESULTS
Net loss attributable to equity holders of the Company for the three and nine months ended March 31, 2025 was
$0.86 million and $2.86 million or $0.01 per share and $0.02 per share, respectively (three and nine months ended
March 31, 2024 – net loss of $1.27 million and $4.54 million or $0.01 and $0.03 per share, respectively). The Company’s
financial results were mainly impacted by the following items:
▪ Working Capital: As of March 31, 2025, the Company had working capital of $16.67 million.
▪ Operating expenses for the three and nine months ended March 31, 2025 was $1.36 million and $4.56 million
respectively (three and nine months ended March 31, 2024 – $1.72 million and $5.41 million, respectively).
▪ Income from investments for the three and nine months ended March 31, 2025 was $0.22 million and $0.66
million, respectively (three and nine months ended March 31, 2024 – $0.44 million and $0.74 million, respectively).
▪ Gain on disposal of property, plant and equipment for the three and nine months ended March 31, 2025 was
$nil and $nil, respectively (three and nine months ended March 31, 2024 – $nil and $0.05 million, respectively).
▪ Foreign exchange gain for the three and nine months ended March 31, 2025 was $0.28 million and $1.02 million,
respectively (three and nine months ended March 31, 2024 – $0.01 million and $0.08 million, respectively).
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PROJECT EXPENDITURE
The following schedule summarized the expenditure incurred by category for each of the Company’s projects for
relevant periods:
SILVER SAND PROJECT
For the three and nine months ended March 31, 2025 , total expenditures of $ 0.30 million and $ 1.23 million,
respectively (three and nine months ended March 31, 2024 - $0.71 million and $2.09 million, respectively) were
capitalized under the project.
CARANGAS PROJECT
For the three and nine months ended March 31, 2025 , total expenditures of $ 0.41 million and $ 1.16 million,
respectively (three and nine months ended March 31, 2024 - $0.40 million and $1.31 million, respectively) were
capitalized under the project.
SILVERSTRIKE PROJECT
For the three and nine months ended March 31, 2025 , total expenditures of $ 0.01 million and $ 0.05 million,
respectively (three and nine months ended March 31, 2024 - $0.01 million and $0.08 million, respectively) were
capitalized under the project.
MANAGEMENT DISCUSSION AND ANALYSIS
This news release should be read in conjunction with the Company’s management discussion and analysis and the
audited consolidated financial statements and notes thereto for the corresponding period, which have been filed
with the Canadian Securities Administrat ors and are available under the Company’s profile on SEDAR + at
www.sedarplus.ca,on EDGAR at www.sec.gov and on the Company’s website at www.newpacificmetals.com.
Cost Silver Sand Carangas Silverstrike Total
Balance, July 1, 2023 86,135,820$ 18,137,910$ 4,862,942$ 109,136,672$
Capitalized exploration expenditures
Reporting and assessment 999,402 408,874 - 1,408,276
Drilling and assaying 47,217 23,894 - 71,111
Project management and support 1,765,297 1,079,177 63,919 2,908,393
Camp service 249,764 241,945 36,754 528,463
Permit and license 33,073 9,308 - 42,381
Value added tax receivable 112,332 31,061 979 144,372
Foreign currency impact (365,571) (78,127) (30,039) (473,737)
Balance, June 30, 2024 88,977,334$ 19,854,042$ 4,934,555$ 113,765,931$
Capitalized exploration expenditures
Reporting and assessment 94,616 176,278 - 270,894
Drilling and assaying - 6,763 - 6,763
Project management and support 916,373 732,381 31,560 1,680,314
Camp service 134,500 179,587 13,500 327,587
Permit and license 7,481 34,129 - 41,610
Value added tax receivable 78,364 26,566 1,044 105,974
Foreign currency impact (599,059) (166,138) (43,074) (808,271)
Balance, March 31, 2025 89,609,609$ 20,843,608$ 4,937,585$ 115,390,802$
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ABOUT NEW PACIFIC
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, please contact:
Peter Lekich, VP Investor Relations
New Pacific Metals Corp. Phone: (604) 633-1368 Ext. 223
1750 – 1066 Hastings Street, Vancouver, BC V6E 3X1, Canada
U.S. & Canada toll-free: 1 (877) 631-0593
E-mail: [email protected]
For additional information and to receive the 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 results of the Preliminary Economic Assessment prepared in accordance with NI 43-101 titled "Carangas Deposit
– Preliminary Economic Assessment" with an effective date of September 5, 2024 and prepared by certain qualified
persons associated with RPMGlobal (the “Carangas PEA”) are preliminary in nature and are intended to provide an
initial assessment of the Project’s economic potential and development options. The Carangas 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 w ould enable them to be categorized as Mineral Reserves, and there is no certainty that the
preliminary economic assessments described herein will be achieved or that the Carangas 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 advance d studies. RPMGlobal (mineral resource,
infrastructure, tailings, water management, environmental and financial analysis) was contracted to conduct the
Carangas PEA in cooperation with Moose Mountain Technical Services (mining), and JJ Metallurgical Services
(Metallurgy). The qualified persons for the Carangas PEA for the purposes of NI 43-101 are Mr. Marcelo del Giudice,
FAusIMM, Principal Metallurgist with RPMGlobal, Mr. Pedro Repetto, SME, P.E., Principal Civil/Geotechnical
Engineer with RPMGlobal, Mr. Gonzalo Rios, FAusIMM, Executive Consultant – ESG with RPMGlobal, Mr. Jinxing Ji,
P.Eng., Metallurgist with JJ Metallurgical Services, and Mr. Marc Schulte, P.Eng., Mining Engineer with Moose
Mountain Technical Services., in addition to Mr. Anderson Candid o, FAusIMM, Principal Geologist with RPMGlobal
who estimated the Mineral Resources. All qualified persons for the Carangas PEA have reviewed the disclosure of the
Carangas PEA herein. The Carangas PEA is based on the Carangas MRE, which was reported on Sep tember 5, 2023.
The effective date of the Carangas MRE is August 25, 2023. Mineral Resources are constrained by an optimized pit
shell at a metal price of US$23.00/oz Ag, US$1,900.00/oz Au, US$0.95/lb Pb, US$1.25/lb Zn, recovery of 90% Ag, 98%
Au, 83% Pb, 58% Zn and Cut-off grade of 40 g/t AgEq. Assumptions made to derive a cut -off grade included mining
costs, processing costs, and recoveries were obtained from comparable industry situations.
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”,
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“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: the Company’s financial results;
anticipated exploration, drilling, development, construction, and other activities or achievements of the Company;
inferred, indicated or measured mineral resources or mineral reserves on the Company’s projects, including, but not
limited to, the Carangas PEA; the timing of receipt of permits and regulatory approvals; and estimates of the
Company’s revenues and capital expenditures.
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, includ ing, without limitation, risks relating to: 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; l oss 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, 2024 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 sign ificant 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: 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 by the Plurinational Legislative Assembly of
Bolivia; the ability of the Company’s Bolivian partner to convert the exploration licenses at its Carangas project to
administrative mining contracts; the ability to meet current and future obligations; the ability to obtain timely
financing on reasonable terms wh en 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 UNITED STATES 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 N ational Instrument 43-101 – Standards of Disclosure for Mineral Projects
(“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 United States Securities
and Exchange Commission.
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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 nited States companies subject to the reporting and
disclosure requirements of United States federal securities laws and the rules and regulations thereunder.
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.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company’s
website at www.newpacificmetals.com.