VANCOUVER, BC, Dec. 9, 2021 /CNW/ - New Pacific Metals Corp.
("New Pacific" or the "Company") (TSX: NUAG) (NYSE
American: NEWP) is pleased to announce that, following the
annual general meeting of shareholders held on December 3, 2021, the newly elected board of
directors (the "Board") of the Company appointed Dr. Rui Feng as the Chairman of the Board. Dr. Feng
is the CEO and Chairman of Silvercorp Metals Inc. ("Silvercorp"),
the largest shareholder of the Company with ownership of 28.3%.
As CEO of New Pacific from 2010 to April
2020 and founder of the Company, Dr. Feng identified,
financed and acquired the Silver Sand Project in 2017 in
Bolivia. Under his leadership, the
Company made a significant discovery at the Silver Sand Project
after over 100,000 m drilling which
culminated in the inaugural Silver Sand Resource estimate on
April 14, 2020. With the
knowledge gained from the Silver Sand Project and first mover
advantage in Bolivia, he led the
Company to acquire the Silverstrike project and identify the
Carangas project in 2019 and 2020. Recently, the first phase
of drilling at Carangas has shown broad zones of silver
mineralization starting at surface.
With his experience in company building and discovery, Dr.
Feng's appointment as Chairman of the Company will provide direct
leadership in advancing the flagship Silver Sand Project and
Carangas silver discovery.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and development company
with precious metal projects, including the flagship Silver Sand
Project, the Silverstrike Project and the Carangas Project,
all of which are located in Bolivia. The Company is focused on progressing
the development of the Silver Sand Project, while growing its
Mineral Resources through the exploration and acquisition of
properties in the Americas.
For further information, please contact:
Stacey Pavlova, CFA
VP, Investor Relations and Corporate Communications
New Pacific Metals Corp.
Phone: (604) 633-1368
U.S. & Canada toll-free:
1-877-631-0593
E-mail: info@newpacificmetals.com
www.newpacificmetals.com
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 the
anticipated timing, amount and completion of exploration, drilling,
development, construction, and other activities or achievements of
the Company; the Phase II Drill Program and anticipated outcomes
therefrom; future economics of the Company's projects; timing of
receipt of permits and regulatory approvals; estimates of the
Company's revenues and capital expenditures; and other future
plans, objectives or expectations of the Company.
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 COVID-19; 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 and its other public filings. 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: the duration and effects of COVID-19 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 Mining Production Contract with COMIBOL 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.
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SOURCE New Pacific Metals Corp.