NUAG.TO · 2025-12-31 12:00:00

New Pacific Reports Financial Results FOR the Three and Six Month S Ended Dece Mber 3 1 , 202 5

Financials

NEWS RELEASE

NEW PACIFIC REPORTS FINANCIAL RESULTS FOR

THE

THREE

AND SIX

MONTH

ENDED

DECE

MBER

, 202

VANCOUVER, BRITISH COLUMBIA

–

February

202

New Pacific Metals Corp.

(“New Pacific” or the “Company”)

reports

its financial results for the

three

and six

months

ended

Dec

ember

, 202

All figures are expressed in

ollars unless otherwise stated.

FISCAL 202

6 Q

HIGHLIGHT



In November 2025, Bolivia initiated a shift

a market

oriented

economic

model

following a change in

government. The new administration has pledged to modernize existing mining laws, aiming to reduce

bureaucracy, str

engthen legal certainty, combat illegal mining

and

attract

foreign investment. The Company is

actively socializing its projects with the new government at all levels.

FINANCIAL RESULTS

Net

loss

attributable to equity holders of the Company

for the three and six months ended December 31, 2025 was

million

or $0.01 per share and $2

million

or $0.01 per share, respectively (the three and six months ended

December 31, 2024

–

net loss of $

million

or $0.00 per share and $2

million

or $0.01 per share, respectively).

Company

’

s financial results were mainly impacted by the following

items:



Working Capital:

As of

December 31

, 202

, the Company had working capital of

million.



Operating expenses

for the three and six months ended December 31, 2025 were $1

7 million

and $2

million

, respectively (the three and six months ended December 31, 2024

million

and $3

million

respectively).



ncome

from investments

for the three and six months ended December 31, 2025 were $

1 million

and $

million

, respectively (the three and six months ended December 31, 2024

–

million

and $

million



Foreign exchange (loss) gain for

the three and six months ended December 31, 2025 was $(

42)

million

and

$0.04 million

, respectively (the three and six months ended December 31, 2024

–

4 million

and $

million

, respectively).

PROJECT

EXPENDITURE

The following schedule summarized the expenditure incurred by category for each

of the Company’s

project

for

relevant periods:

SILVER SAND PROJECT

For the three and six months ended December 31, 2025, total expenditures of $

7 million

and $1

million

respectively (three and six months ended December 31, 2024

2 million

and $

4 million

, respectively)

were

capitalized under the project.

CARANGAS PROJECT

For the three and six months ended December 31, 2025, total expenditures of $

million

and $

0.40 million

respectively (

the three and six months ended December 31, 2024

9 million

and $

million

respectively)

were capitalized under the project.

SILVERSTRIKE PROJECT

For the three and six months ended December 31, 2025, total expenditures of $

0.03 million

and $

0.04 million

respectively (the three and six months ended December 31, 2024

0.01 million

and $

0.03 million

, respectively)

were capitalized under the project.

MANAGEMENT DISCUSSION

AND ANALYSIS

This news release should be read in conjunction with the Company’s

anagement

iscussion and

nalysis

(the

"MD&A")

and

the

audited

consolidat

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

www.sedarplus.ca

on EDGAR at

www.sec.gov

and on the Company’s website at

www.newpacificmetals.com.

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. The 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

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

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”, “antic

ipate”, “estimate”, “goals”, “forecast”, “budget”, “potential”

or variations thereof and other similar words, or statements that 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

for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permit

s, 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

roject to

Administrative Mining Contract

; the ability of the Company to obtain

national recognition of

its

Carangas

roject’s proposed “State of Necessity” designation; the ability to meet current

and future obligations; the ability to o

btain timely financing on reasonable terms when 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 expres

sly 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 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

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

nnual

nformation

orm,

can be obtained

under the Company’s profile on

SEDAR

www.sedar

plus

on EDGAR at

www.sec.gov

and

the Company’s

website at www.newpacific

metals.com

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