New Pacific Reports Financial Results FOR the Three and Year Ended
1
NEWS RELEASE
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR
THE
THREE
AND
YEAR
ENDED
JUNE
3
0
, 202
5
VANCOUVER, BRITISH COLUMBIA
–
September
3
,
202
5
:
New Pacific Metals Corp.
(“New Pacific” or the “Company”)
reports
its financial results for the
three
months
and
year
ended
June 30
, 202
5
.
All figures are expressed in
US
d
ollars
unless otherwise stated.
FISCAL 202
5
HIGHLIGHT
The Company filed an independent Preliminary Economic Assessment technical report for its Carangas Project
(the “Carangas PEA Technical Report”) on November 15, 2024. The Carangas PEA Technical Report is effective
September 5, 2024 and was independently pr
epared by RPMGlobal Limited (“RPMGlobal”) in accordance with
National Instrument 43
‐101 ‐ Standards of Disclosure for Mineral Projects (“NI 43‐101”). Highlights of the
Carangas PEA Technical Report are as follows:
o
Post
‐tax net present value (“NPV”) (5%) of $501 million and internal rate of return (“IRR”) of 26% at a
base case price of $24.00/ounce (“oz”) silver, $1.25/pound (“lb”) zinc, and $0.95/lb lead;
o
16
‐year life of mine (“LOM”), excluding 2‐years of pre‐production, producing approximately 106
million oz (“Moz”) of payable silver, 620 million lbs (“Mlbs”) of payable zinc and 382 Mlbs of payable
lead;
o
Initial capital costs of $324 million and a post
‐tax paybacks of 3.2 years;
o
Average LOM all
‐in sustaining cost (“AISC”) of $7.60/oz silver, net of by‐products; and
o
Approximately 500 direct permanent jobs to be created from the Carangas Project.
The Company has taken steps to address the presence of
artisanal and small
‐
scale miners (“ASMs”)
in areas of
the Silver Sand Project
since
2023.
On June 25, 2025
,
through
a formal judicial resolution process in Bolivia,
the
Departmental Court of Justice of
La Paz
granted an amparo
(a constitutional protection action)
(the
“Amparo”) to the Company that provides the Silver Sand Project with immediate and long
‐
term protection
against any kinds of encroachment and illegal mining activities.
Since July 1, 2025, the
ASMs’ have stopped their
mining activities and withdrawn from the Silver Sand Project area
and the
Company has successfully regained
access to the area and established a temporary camp. Survey and inspection work has been performed in the
area to measure
the extent of the impact of the ASM
s’
activities on the
Sil
ver Sand
Project’s
m
ineral
r
esources,
preliminary results
indicate
the mineralized material extracted is not
material.
On August 30,
2025
,
the Carangas
community discussed the economic, environmental, and social impacts of
the Carangas Project to their community during their community assembly meeting. At the end of the meeting,
the Carangas community voted in favor of the Carangas Project and the prese
nce of the Company in the
community area to carry out permitting and development activities as a whole.
O
n April 15, 2025
, t
he
Company appointed Mr. Jalen Yuan as interim Chief Executive Officer (“CEO”), and Mr.
Chester Xie as interim Chief Financial Officer (“CFO”).
2
FINANCIAL RESULTS
Net loss attributable to equity holders of the Company
for the three
months
and
year
ended
June 30
, 2025
was $
0.
89
million
and $
3
.
76
million
or $0.0
1
per share
and $0.0
2
per share, respectively (three
months
and
year
ended
June 30
,
2024
–
net loss of $1
.
48
million
and $
6
.
02
million
or $0.01 and $0.
0
4
per share, respectively).
T
he Company
’
s financial
results were mainly impacted by the following
items:
Working Capital:
As of
June 30
, 202
5
, the Company had working capital of
$
16
.
17
million.
Operating expenses
for the three
months
and
year
ended
June 30
, 2025
was $1
.
42
million
and $
5
.
98
million
respectively (three
months
and
year
ended
June 30
, 2024
–
$1.
53
million
and $
6
.
94
million
, respectively).
I
ncome
from investments
for the three
months
and
year
ended
June 30
, 2025
was $
0.
13
million
and $
0.
79
million
,
respectively (three
months
and
year
ended
June 30
, 2024
–
$
0.
32
million
and $
1
.
06
million
, respectively).
Gain
on disposal of
property,
plant and equipment
for the three
months
and
year
ended
June 30
, 2025
was
$
nil and $nil
, respectively (three
month
and
year
ended
June 30
, 2024
–
$nil
and $
0.05 million
, respectively).
Provision for credit loss
for the three months and year ended June 30, 2025
was $nil and $nil, respectively
(three months and year ended June 30, 2024
‐
$
0.
27
million
and $
0.
27
million
, respectively).
Foreign exchange
gain
for the three
months
and
year
ended
June 30
, 2025
was $
0.
39
million
and $
1
.
41
million
,
respectively (three
month
and
year
ended
June 30
, 2024
–
$
(
0.
01
)
million and $0.
08
million
, respectively).
PROJECT
EXPENDITURE
The following schedule summarized
the expenditure incurred by category for each
of the Company’s
project
s
for
relevant periods:
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
94,894
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 receivable
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
$
3
SILVER SAND PROJECT
For the three
month
s
and
year
ended
June 30
, 2025
, total expenditures of $
0.
3
2
million
and $
1
.
56
million
,
respectively (three
months
and
year
ended
June 30
, 2024
‐
$
1
.
02
million
and $
3
.
21
million
, respectively) were
capitalized under the project.
CARANGAS PROJECT
For the three
months
and
year
ended
June 30
, 2025
, total expenditures of $
0.
32
million
and $
1
.
47
million
,
respectively (three
months
and
year
ended
June 30
, 2024
‐
$
0
.
47
million
and $
1
.
79
million
, respectively) were
capitalized under the project.
SILVERSTRIKE PROJECT
For the three
months
and
year
ended
June 30
, 2025
, total expenditures of $
0.
02
million
and $
0.
06
million
,
respectively (three
months
and
year
ended
June 30
, 2024
‐
$
0.
02
million
and $
0.
10
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
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.
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 adva
ncing 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:
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 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
I
ndicated and Inferred Mineral
Resources. Inferred resources are considered too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the
4
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 advanced 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
(Metallu
rgy)
.
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 Candido, 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 September 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, 9
8%
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 applicab
le 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 the
reof 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
-
looki
ng 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 a
nd 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,
202
5
and its other public filings. T
his 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
5
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 conve
rt the exploration licenses at
its
Carangas
p
roject to
administrative mining contracts; 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 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 con
sistent 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 ap
plicable 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 forwa
rd
-
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
.