VANCOUVER, BC,
Aug. 8,
2024 /PRNewswire/ - New Pacific
Metals Corp.
(TSX: NUAG) (NYSE-A: NEWP) ("New Pacific"
or the "Company") is pleased to report
the filing of an independent Pre-Feasibility Study ("PFS")
technical report for its Silver Sand project (the "Project")
located in Potosi, Bolivia with an
effective date of June 19, 2024 (the
"PFS Technical Report").
The PFS Technical Report was prepared in accordance with the
Canadian Securities Administrators' National Instrument 43-101
– Standards of Disclosure for Mineral
Projects ("NI 43-101").
The qualified persons (as defined in NI 43-101) for the PFS
Technical Report are Mr. Wayne
Rogers, P.Eng., and Mr. Mo
Molavi, P.Eng., both Principal Mining Engineers with AMC
Mining Consultants (Canada) Ltd.
("AMC Consultants"), Mr. Eugene
Tucker, Principal Mining Engineer and Regional Manager with
AMC Consultants, Mr. Andy Holloway,
P.Eng., Process Director with Halyard Inc., and Mr. Leon Botham, P.Eng., Principal Engineer with
NewFields Canada Mining & Environment ULC. This is in addition
to Ms. Dinara Nussipakynova, P.Geo., Principal Geologist with
BBA Engineering Ltd., formerly with AMC Consultants, who
estimated the Mineral Resources. All such qualified persons have
reviewed the technical content of this news release and have
approved its dissemination.
This news release has been reviewed and approved by Alex Zhang, P.Geo., Vice President of
Exploration of New Pacific Metals Corp. who is the designated
qualified person for the Company.
A copy of the PFS Technical Report is 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 Metals
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 rapidly advancing its
Carangas project towards a Preliminary Economic Assessment. For the
Silverstrike project, the Company completed a discovery drill
program in 2022.
For Further Information
New Pacific Metals Corp.
Phone: (604) 633‐1368 Ext. 223
U.S. & Canada toll-free:
1-877-631-0593
E-mail: invest@newpacificmetals.com
For additional information and to receive company news by
e-mail, please register using New Pacific's website at
www.newpacificmetals.com.
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 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. Such statements include, but are not limited to,
statements regarding: 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 Project; the results of the PFS; the anticipation
that the Project has the potential to be developed into one of the
world's largest silver mines; the anticipation that the Company
will file a Preliminary Economic Assessment in respect of its
Carangas project; 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,
including, without limitation, risks relating to: global economic
and social impact of public health crises (such as a resurgence of
the COVID-19 novel coronavirus); 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; loss 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 and 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,
2023 (the "AIF"). This 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
significant 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: :global economic and social impact of public health
crises on our operations and workforce; 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 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 MPC with the Corporación Minera de Bolivia, the Bolivian state mining
corporation, by the Plurinational Legislative Assembly of
Bolivia; 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
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 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 US 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. The
technical and scientific information contained herein has been
prepared in accordance with NI 43-101, which differs from the
standards adopted by the U.S. Securities and Exchange Commission
(the "SEC"). Accordingly, the technical and scientific information
contained herein, including any estimates of Mineral Reserves and
Mineral Resources, may not be comparable to similar information
disclosed by United States
companies subject to the disclosure requirements of the SEC.
Additional information relating to the Company, including the
AIF, can be obtained 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.
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SOURCE New Pacific Metals Corp.
