New Pacific Reports Financial Results FOR the Three and NINE Month S Ended March 3 1 , 202 6 Vancouver, British Columbia – May 1 3 , 202 6 :
1
NEWS RELEASE
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR
THE
THREE
AND
NINE
MONTH
S
ENDED
MARCH
3
1
, 202
6
VANCOUVER, BRITISH COLUMBIA
–
May
1
3
,
202
6
:
New Pacific Metals Corp.
(“New Pacific” or the “Company”)
reports
its financial results for the
three
and
nine
months
ended
March
3
1
, 202
6
.
All figures are expressed in
US
d
ollars unless otherwise stated.
FISCAL 202
6 Q
3
HIGHLIGHT
On February 23, 2026, the Company signed a Framework Agreement for Cooperation and Coordination (the
“Agreement”) with the Carangas community (“TIOC Carangas”) in respect to the Carangas
Silver
–
Gold
p
roject
(the “Carangas Project”)
. The Agreement establishes a general framework of understanding and commitment
between the Company and TIOC Carangas that reflects the shared intention to develop the Carangas Project
based on transparency, fairness, mutual benefits, mutual respect, and l
ong
-
term cooperation.
FINANCIAL RESULTS
Net
loss
attributable to equity holders of the Company
for the three and
nine
months ended
March
31, 202
6
was
$
0
.
87
million
or $0.
0
per share and $
3
.
20
million
or $0.0
2
per share, respectively (the three and
nine
months ended
March
31, 202
5
–
net loss of $
0.
86
million
or $0.0
1
per share and $2
.86
million
or $0.0
2
per share, respectively).
T
he
Company
’
s financial results were mainly impacted by the following
items:
Working Capital:
As of
March
31
, 202
6
, the Company had working capital of
$
39.28
million.
Operating expenses
for the three and
nine
months ended
March
31, 202
6
were $1
.
58
million
and $
4
.
37
million
,
respectively (the three and
nine
months ended
March
31, 202
5
-
$1
.
40
million
and $
4
.
56
million
, respectively).
I
ncome
from investments
for the three and
nine
months ended
March
31, 202
6
were $
0.
29
million
and $
0.
71
million
, respectively (the three and
nine
months ended
March
31, 202
5
–
$
0.
22
million
and $
0.
66
million
).
Loss on disposal of plant and equipment
for the three and nine months ended March 31,
2026 of $
0.0
2
million
(the three and
nine months ended March 31, 2025
–
$nil and $nil, respectively).
Foreign exchange gain for
the three and
nine
months ended
March
31, 202
6
was $
0.
4
4
million
and
$0.
47
million
, respectively (the three and
nine
months ended
March
31, 202
5
–
$
0.
28
million
and $
1
.
02
million
,
respectively).
2
PROJECT
EXPENDITURE
The following schedule summarized the expenditure incurred by category for each
of the Company’s
project
s
for
relevant periods:
SILVER SAND PROJECT
For the three and
nine
months ended
March
31, 202
6
, total expenditures of $
0.
73
million
and $1
.
91
million
,
respectively (three and
nine
months ended
March
31, 202
5
-
$
0.
30
million
and $
1
.
23
million
, respectively)
were
capitalized under the project.
CARANGAS PROJECT
For the three and
nine
months ended
March
31, 202
6
, total expenditures of $
0.
56
million
and $
0.
95
million
,
respectively (
the three and
nine
months ended
March
31, 202
5
-
$
0.
41
million
and $
1
.
16
million
, respectively)
were
capitalized under the project.
SILVERSTRIKE PROJECT
For the three and
nine
months ended
March
31, 202
6
, total expenditures of $
0.0
1
million
and $
0.0
6
million
,
respectively (the three and
nine
months ended
March
31, 202
5
-
$
0.01 million
and $
0.0
5
million
, respectively)
were
capitalized under the project.
MANAGEMENT DISCUSSION
AND ANALYSIS
This news release should be read in conjunction with the Company’s
m
anagement
d
iscussion and
a
nalysis
(the
"MD&A")
and
the
audited
consolidat
ed
f
inancial
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, June 30, 2024
88,977,334
$
19,854,042
$
4,934,555
$
113,765,931
$
Capitalized exploration expenditures
Reporting and assessment
94,894
190,352
-
285,246
Drilling and assaying
342
6,763
5,125
12,230
Project management and support
1,155,235
889,034
37,828
2,082,097
Camp service
179,873
295,804
17,033
492,710
Permit and license
12,606
47,818
-
60,424
Value added tax not claimed
109,086
44,020
2,046
155,152
Foreign currency impact
51,499
26,018
3,058
80,575
Balance, June 30, 2025
90,580,869
$
21,353,851
$
4,999,645
$
116,934,365
$
Capitalized exploration expenditures
Reporting and assessment
765
167,864
-
168,629
Drilling and assaying
-
-
589
589
Project management and support
1,161,287
631,835
39,427
1,832,549
Camp service
619,285
107,646
16,196
743,127
Permit and license
3,412
32,174
-
35,586
Value added tax not claimed
124,754
15,361
965
141,080
Foreign currency impact
(275,390)
(85,633)
(19,244)
(380,267)
Balance, March 31, 2026
92,214,982
$
22,223,098
$
5,037,578
$
119,475,658
$
3
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and development company advancing two permitting stage precious metals
projects in Bolivia. Its Silver Sand project in Potosí has the potential to become one of the world’s largest silver mines.
The Carangas Silver
–
Gol
d Project in Oruro strengthens the Company’s portfolio through scale, robust economics,
and regional exploration potential. With over a decade of operating experience in Bolivia, New Pacific has earned
the confidence of its stakeholders and shareholders. T
he Company is headquartered in Vancouver, British Columbia,
and its shares trade on the Canadian Securities Exchange under the symbol “NUAG” and on the New York Stock
Exchange under the symbol “NEWP”.
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:
invest
@newpacificmetals.com
For additional information and t
o receive
the C
ompany
news by e
-
mail, please register using New Pacific’s website
at
www.newpacificmetals.com
.
CAUTIONARY NOTE REGARDING FORWARD
-
LOOKING INFORMATION
Except for statements of historical facts relating to the Company, certain information contained herein constitutes
“forward
-
looking statements” within the meaning of the United States Private Securities Litigation Reform Act of
1995 and “forward
-
looking i
nformation” within the meaning of applicable Canadian provincial securities laws
(collectively, “forward
-
looking statements”).
Forward
-
looking statements are frequently characterized by words such
as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “goals”, “forecast”, “budget”, “potential”
or variations thereof and other similar words, or statements tha
t certain events or conditions “may”, “could”,
“would”, “might”, “will” or “can” occur.
Forward
-
looking statements include, but are not limited to: statements
regarding
the Company's financial results
.
Forward
-
looking statements are based on a number of estimates, assumptions, beliefs, expectations and opinions of
management on the date the statements are made and are subject to a variety of risks and uncertainties and other
factors that could cause actu
al events or results to differ materially from those projected in the forward
-
looking
statements.
These factors include fluctuating equity prices, bond prices and commodity prices; calculation of
resources, reserves and mineralization; general economic con
ditions; 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; environmental risk
s; operations and political
conditions; the regulatory environment in Bolivia and Canada; risks associated with community relations and
corporate social responsibility; and other factors described in
the
MD&A, under the heading “Risk Factors”, in the
Compa
ny's most recent annual information form
and its other public filings.
The foregoing is not an exhaustive list 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 significant business, economic and competitive uncertainties and contingencies.
These
estimates, assumptions, beliefs, expectations and opinions 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 availability and cost of inputs; the price and market
4
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
Corporación Minera de Bolivia
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
p
roject to
Administrative Mining Contract
; the ability of the Company to obtain
national recognition of
its
Carangas
p
roject’s propos
ed “State of Necessity” designation; the ability to meet current
and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and
future social, economic and political conditions; and other assumptions and f
actors 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 w
hether 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 U
NITED 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.
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
a
nnual
i
nformation
f
orm,
can be obtained
under the Company’s profile on
SEDAR
+
at
www.sedar
plus
.c
a
,
on EDGAR at
www.sec.gov
,
and
on
the Company’s
website at www.newpacific
metals.com
.