VANCOUVER, BC, April 29, 2024 /PRNewswire/ - New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) ("New Pacific" or the "Company") is pleased to announce the positive results of its metallurgical test program for its Silver Sand project ("Silver Sand") located in Potosi Department, Bolivia. The test program was conducted to meet the standards required for the Company's upcoming Preliminary Feasibility Study (the "PFS"). Highlights from the test program include: Cyanide leach of the first composite sa ...

Financial Performance - The net loss for the three months ended December 31, 2023, was $1,527,071, a decrease from a loss of $1,873,003 in the same period of 2022, reflecting an improvement of about 18.4%[3] - For the six months ended December 31, 2023, the net loss was $3,273,685, compared to $3,958,666 for the same period in 2022, indicating a reduction of approximately 17.3%[4] - The company reported a total comprehensive loss of $668,820 for the three months ended December 31, 2023, compared to a loss of $1,450,836 in the same period of 2022, showing an improvement of approximately 54%[4] - Total operating expenses for the six months ended December 31, 2023, were $(3,687,392), a decrease from $(3,986,590) for the same period in 2022, showing a reduction of about 7.5%[61] - The total operating expense for the three months ended December 31, 2023, was $(1,818,757), which is lower than $(1,927,708) for the same period in 2022, reflecting a decrease of about 5.7%[60] Assets and Liabilities - Total assets increased to $140,159,187 as of December 31, 2023, compared to $118,307,541 on June 30, 2023, representing a growth of approximately 18.5%[2] - Total liabilities decreased to $(1,156,871) as of December 31, 2023, compared to $(2,336,655) as of June 30, 2023, indicating a reduction of about 50.5%[59] - Cash and cash equivalents rose significantly to $25,837,156 from $6,296,312, marking an increase of approximately 311.5%[2] - The cash on hand and at bank increased to $18,201,303 as of December 31, 2023, compared to $6,296,312 as of June 30, 2023, representing a growth of approximately 189.5%[62] Share Capital and Equity - Share capital increased to $181,229,877 as of December 31, 2023, up from $155,840,052, representing a growth of about 16.3%[2] - As of December 31, 2023, total equity attributable to equity holders of the Company is $139,153,862, with a net loss of $3,270,124 for the six months ended[6] - The total number of common shares issued increased to 171,043,382 as of December 31, 2023, up from 157,491,172 as of June 30, 2023[6] - The Company’s accumulated deficit as of December 31, 2023, stands at $(71,893,430), reflecting ongoing operational losses[6] Investments and Income - The company reported net income from investments of $275,020 for the three months ended December 31, 2023, compared to $83,455 in the same period of 2022, reflecting an increase of approximately 229.5%[3] - Net income from investments for the six months ended December 31, 2023, was $295,294, compared to $41,781 for the same period in 2022, indicating a significant increase of approximately 608.5%[61] - The company reported a foreign exchange gain of $16,666 for the three months ended December 31, 2023, compared to a foreign exchange loss of $(28,750) for the same period in 2022, indicating a turnaround[60] Expenditures and Capitalization - The company incurred capital expenditures of $736,260 for the three months ended December 31, 2023, down from $5,413,239 in the same period of 2022, indicating a decrease of approximately 86.4%[5] - Total capitalized exploration expenditures for the three and six months ended December 31, 2023, were $413,362 and $1,379,261, respectively, compared to $1,700,593 and $4,197,529 for the same periods in 2022, indicating a decrease of approximately 76.7% and 67.2%[24] - The total expenditures for the Carangas Project for the three and six months ended December 31, 2023, were $321,877 and $936,734, respectively, down from $2,871,725 and $5,848,633 in 2022, reflecting a reduction of 88.8% and 84.0%[26] - The total capitalized expenditures for the Silverstrike Project for the three and six months ended December 31, 2023, were $10,125 and $77,441, respectively, compared to $702,839 and $1,145,490 in 2022, indicating a decrease of 98.6% and 93.2%[28] Management and Compensation - Key management's cash compensation for the six months ended December 31, 2023, was $585,871, an increase of 67.2% compared to $350,268 for the same period in 2022[30] - Share-based compensation expense for the three and six months ended December 31, 2023, totaled $412,077 and $1,075,099, respectively, compared to $739,971 and $1,570,829 for the same periods in 2022, indicating a decrease of 44.2% and 31.5%[33] Foreign Exchange and Risk - The company has exposure to foreign exchange risk, with financial assets denominated in foreign currencies totaling $1,385,136 as of December 31, 2023[50] - A 1% strengthening of the USD against the CAD would have increased net income by approximately $2,700 as of December 31, 2023[50] - The company’s equity price risk indicates that a 10% increase in the market price of its securities would result in an increase to net income of approximately $28,000[55] Other Information - The Company has not yet determined if its mineral properties contain economically recoverable mineral reserves, which impacts the underlying value of its mineral property interests[7] - The Company is engaged in exploring and developing mineral properties in Bolivia, with a focus on advancing its projects despite the lack of confirmed recoverable reserves[7] - The Company’s financial statements have been prepared in accordance with International Accounting Standard 34, ensuring compliance with reporting standards[9] - The balance of mineral property interests increased to $106,036,909 as of December 31, 2023, up from $103,606,250 on June 30, 2023, reflecting a growth of 2.8%[22] - The carrying amount of plant and equipment as of December 31, 2023, was $2,039,115, a decrease from $2,055,439 on June 30, 2023, representing a decline of 0.8%[5] - The balance of accumulated depreciation as of December 31, 2023, was $(686,754), an increase from $(715,600) on June 30, 2023, indicating a decrease in depreciation expense[5] - The total number of stock options as of December 31, 2023, was 3,366,167, down from 3,957,167 on June 30, 2023, reflecting a reduction of 14.9%[36] - The total number of stock options outstanding as of December 31, 2023, was 3,366,167, with an average exercise price of CAD$3.07[37] - The balance of Restricted Stock Units (RSUs) as of December 31, 2023, was 1,434,326, with a weighted average grant date closing price of CAD$3.77[38] - The company reported a related party transaction with Silvercorp Metals Inc., with amounts due increasing from $56,102 on June 30, 2023, to $125,234 as of December 31, 2023[29] - The company closed a bought deal financing on September 29, 2023, issuing 13,208,000 common shares at a price of $1.96 (CAD $2.65) per share, resulting in gross proceeds of $25,888,462[40] - The company granted a total of 1,024,000 RSUs at a grant date closing price of CAD$2.10 per share, subject to a three-year vesting schedule[39] - The company reported a non-controlling interest in its subsidiary Qinghai Found of $151,546 as of December 31, 2023, reflecting a share of net loss and other comprehensive loss[41]

New Pacific Metals Corp. Discovering and Developing World-Class Silver and Gold Deposits in Bolivia March 15, 2023 TSX: NUAG | NYSE American: NEWP | www.newpacificmetals.com Cautionary Note NEW PACIFIC METALS CORP. IS A CANADIAN ISSUER This presentation is prepared by New Pacific Metals Corp. (TSX:NUAG/NYSE American: NEWP) ("New Pacific" or the "Company") management and New Pacific is solely responsible for content and format. This presentation is not intended as a solicitation or offering of securities in ...