New Pacific Reports Financial Results FOR the Three and Six Months Ended December 31, 2018
NEWS RELEASE
Trading Symbol: TSX-V: NUAG
OTCQX: NUPMF
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2018
VANCOUVER, BRITISH COLUMBIA – February 21, 201 9: New Pacific Metals Corp. (“New Pacific” or the
“Company”) (TSX-V:NUAG) (OTCQX:NUPMF) today announced its unaudited condensed consolidated interim
financial results for the three and six months ended December 31, 2018.
This news release should be read in conjunction with the Company's management discussion & analysis,
financial statements and notes to financial statements 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.
FINANCIALS
Net income attributable to equity holders of the Company for the three months ended December 31, 2018
was $473,838 or $0.00 per share (three months ended December 31, 2017 - net loss of $1,096,699 or $0.01 per
share). The Company’s financial results were mainly impacted by the following: (i) income from investments of
$65,926 compared to income of $68,533 in the prior year quarter , (ii) operating expenses of $592,7 96
compared to $1,162,214 in the prior year quarter, and (iii) foreign exchange gain of $1,065,279 compared to
gain of $59,635 in the prior year quarter.
For six months ended December 31, 2018, net loss attributable to equity holders of the Company was $278,745
or $0.00 per share compared to net loss of $2,647,798 or $0.02 per share for six months ended December 31,
2017.
Income from investments for the three months ended December 31, 2018 was $65,926 (three months ended
December 31, 2017 – income of $68,533). Within the income from investments, $150,525 was gain on the
Company’s equity investments and $125,677 was loss from fair value change on bonds offset by interest
earned.
For the six months ended December 31, 201 8, income from investments was $183,123 compared to loss of
$508,411 for the six months ended December 31, 2017.
Operating expenses for the three and six months ended December 31, 2018 were $592,796 and $1,006,872,
respectively (three and six months ended December 31, 2017 - $1,162,214 and $2,246,608, respectively).
Foreign exchange gain for the three months ended December 31, 2018 was $1,065,279 (three months ended
December 31, 2017 - $59,635). The Company holds a large portion of cash and cash equivalents and bonds in
US dollars while the Company ’s functional currency is Canadian dollar . The fluctuation in exchange rates
between the US dollar and the Canadian dollar will impact the financial results of the Company. During the
three months ended December 31, 2018, the US dollar appreciated by 5.4% against the Canadian dollar (from
1.2945 to 1.3642) while in the prior year period the US dollar appreciated by 0.5% against the Canadian dollar
(from 1.2480 to 1.2545).
For the six months ended December 31, 2108, foreign exchange gain was $720,437 (six months ended
December 31, 2017 – foreign exchange loss of $409,669).
SILVER SAND PROPERTY
The Company started the preparation work for the planned exploration program after the acquisition of the
Silver Sand Property. In October 2017, the Company successfully received exploration permits required by
the relevant Bolivian government authorities and immediately commenced its exploration drilling program
on the property. By mid-December 2018, a total of 55,010 metres in 195 HQ size diamond core drill holes
had been completed. On January 22 and February 20 , 2019, through two separate news releases , the
Company released the results of 195 drill holes that had assay result s received and analyzed, of which 190
holes intercepted silver mineralization. For details of the drill program, please follow the link s at
https://newpacificmetals.com/news-and-media/2019/1/22/new-pacific-reports-first-results-from-2018-drill-
program-at-silver-sand-bolivia and https://newpacificmetals.com/news-and-media/2019/2/20/new-pacific-
reports-remaining-drill-results-from-2018-drill-program-at-silver-sand-bolivia. For the three and six months
ended December 31 , 2018, total expenditures of $ 3,413,976 and $6,593,939, respectively (three and six
months ended December 31, 2017 - $966,651 and $1,354,399, respectively) were capitalized under the
property. These expenditures were mainly related to the drilling program, site and camp preparation,
maintaining a regional office in La Paz, and building a competent management team and workforce for the
property.
As part of the Silver Sand Property ’s expansion plan, on January 11, 2019, the C ompany announced that
through its wholly -owned subsidiary, Empresa Minera Alcira S.A., it had entered into a Mining Production
Contract (the ”MPC”) with Corporación Minera de Bolivia (“C OMIBOL”) granting the C ompany the right to
carry out exploration, mining, and production activities in the area of up to 56.9098 square kilometres
adjoining the Silver Sand Property. In addition, in July 2018, t he Company entered into agreements with
private owners to acquire their 100% interest in certain mineral concessions located adjacent to the Silver
Sand Property. For the six months ended December 31, 2018, the Company acquired total mineral
concessions valued at $2,631,200 (US$2,000,000) by cash p ayments of $1,315,600 (US$1,000,000) and
issuance of 832,000 of its common shares.
ABOUT NEW PACIFIC
New Pacific Metals Corp. is a Canadian exploration and development company which owns the Silver Sand
Project, in the Potosi Department of Bolivia, the Tagish Lake Gold Project in Y ukon, Canada and the RZY
Project in Qinghai Province, China.
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 policies of the TSX Venture Exc hange) accepts
responsibility for the adequacy or accuracy of this release.
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 perfo rmance (often, but not always, using words or phrases such as “expects”, “is expected”,
“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.
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, including, without limitation, risks relating to: fluctuating equity prices, bond prices,
commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest 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 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 inform ation 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, 2018 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. Accordingly, readers should not place undue reliance on forwar d-
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 news release, and other than as required by applicable sec urities
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 statements or information. For the reasons set forth above, investors should not place
undue reliance on forward-looking statements or information.