New Pacific Reports Financial Results FOR the Three and Six Months Ended December 31, 2017
NEWS RELEASE
Trading Symbol: TSX Venture: NUAG.V
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2017
VANCOUVER, BRITISH COLUMBIA – February 15 , 2018: New Pacific Metals Corp. (“New Pacific” or the
“Company”) today announced its unaudited condensed consolidated interim financial results for the three
and six months ended December 31, 2017.
This earnings 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 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 (CAD) unless otherwise stated.
Q2 FISCAL 2018 HIGHLIGHTS
Successfully obtained the permits required for the Silver Sand property and immediately commenced a 30,000
meter exploration drilling program;
Raised $26,980,000 through a strategic private placement with Pan American Silver Corp. and Silvercorp
Metals Inc. to boost the Company’s financial position; and
Ended the quarter with working capital of $37,531,285.
FINANCIALS
Net loss attributable to equity holders of the Company for the three months ended December 31, 2017 was
$1,096,699 or $0.01 per share (three months ended December 31, 2016 - net loss of $2,228,616 or $0.03 per share).
The Company’s financial results were mainly impacted by the following: (i) income from investments of $68,533
compared to loss of $2,361,196 in the prior year; (ii) foreign exchange gain of $59,635 compared to foreign exchange
gain of $449,762 in the prior year; and, (iii) operating expenses of $1,230,747 compared to $398,894 in the prior year.
For six months ended December 31, 2017, net loss attributable to equity holders of the Company was $2,647,798 or
$0.02 per share compared to net income of $1,353,652 or $0.02 per share for six months ended December 31, 2016.
Income from investments for the three months ended December 3 1, 2017 was $68,533 (three months ended
December 31, 2016 - loss of $2,361,196). Within the income (loss) from investments, $27,057 was from a loss on the
Company’s equity investments offset by gain of $92,305 from fair value change and interest earned on bonds.
For the six months ended December 31, 201 7, loss from investments was $ 508,411 compared to income of
$1,321,232 for the six months ended December 31, 2016.
Operating expenses for the three months ended December 31, 2017 were $1,230,747 (three months ended
December 31 , 2016 - $398,894). For the six months ended December 31, 2017, operating expenses were
$1,738,197 (six months ended December 31, 2016 - $652,254). The increase in operating expenses was a result of
the Company’s increased activity.
Foreign exchange gain for the three months ended December 3 1, 2017 was $ 59,635 (three months ended
December 3 1, 2016 - foreign exchange gain of $449,762). The Company holds a large portion of cash and cash
equivalents and bonds in US dollars while the Company ’s functional currency is the Canadian dollar . The
fluctuation in exchange rates between the US dollar and Canadian dollar will impact the financial results of the
Company. During the three months ended December 3 1, 2017, the US dollar appreciated by 0.5% against
Canadian dollar (from 1.2480 to 1.2545) while in the prior year t he US dollar appreciated by 2.4% against Canadian
dollar (from 1.3117 to 1.3427).
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 a 30,000 meter exploration drilling program on the
property. For the three and six months ended December 31, 2017, total expenditures of $966,651 and $1,354,399,
respectively were capitalized under the property. These expenditu res 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.
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 Yukon, Canada and the RZY Project in Qinghai
Province, China.
For further information, contact:
New Pacific Metals Corp.,
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
www.newpacificmetals.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this press release constitute “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”,
“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 r isks, 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 o r conditions may differ materially from
those reflected in the forward -looking statements or information due to a variety of risks, uncertainties and other
factors, including, without limitation, those referred to in the Company’s Annual Information Form f or the year
ended June 30, 2017 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 forward -
looking statements or information.
The Company’s forward -looking statements and information are based on the assumptions, beliefs, expectations
and opinions of management as of the date of this press release, and other than as required by applicable securities
laws, the Company does not assume any obligation to update forward -looking statements and information if
circumstances or management’s assumptions, b eliefs, 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 and information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.