VANCOUVER, BC, Nov. 15,
2024 /CNW/ - New Pacific Metals Corp. (TSX: NUAG)
(NYSE-A: NEWP) ("New Pacific" or the "Company")
announces that, further to its news release of October 1, 2024 (the "Release"), the
Company has filed an independent Preliminary Economic Assessment
technical report for its Carangas Silver-Gold-Lead-Zinc Project
located in Oruro Department, Bolivia ("PEA Technical Report"). This
PEA Technical Report is effective September
5, 2024, and was independently prepared by RPMGlobal Limited
in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101"). The PEA
Technical Report can be found on the Company's website at
www.newpacificmetals.com, under the Company's profile at
www.sedarplus.ca.
There are no material differences in the information in the PEA
Technical Report and the information contained in the Release.
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
advancing its robust, high-margin silver-lead-zinc Carangas project
with strong economics. Additionally, a discovery drill program was
completed at Silverstrike in 2022.
On behalf of New Pacific Metals Corp.
Andrew Williams
CEO and Director
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 RESULTS OF PRELIMINARY ECONOMIC
ASSESSMENT
The results of the PEA prepared in accordance
with NI 43-101 titled "Carangas Deposit - Preliminary Economic
Assessment" with an effective date of November 15, 2024, and prepared by certain
qualified persons associated with RPMGlobal are preliminary in
nature and are intended to provide an initial assessment of the
Project's economic potential and development options of the
Project. The PEA mine schedule and economic assessment includes
numerous assumptions and is based on both indicated 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 preliminary economic
assessments described herein will be achieved or that the 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
PEA in cooperation with Moose Mountain Technical Services (mining),
and JJ Metallurgical Services (Metallurgy). The qualified persons
for the 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 PEA have reviewed the disclosure of the PEA herein.
The PEA is based on the MRE, which was reported on September 5, 2023. The effective date of the 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, 98% 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 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 results of the PEA; expectations
regarding the Project; estimates regarding Mineral Reserves and
Mineral Resources; anticipated exploration, drilling, development,
construction, and other activities or achievements of the Company;
timing of receipt of permits and regulatory approvals; and
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 public health crisis; 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,
2024 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: public health crisis 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
Corporación Minera de Bolivia, the
Bolivian state mining corporation, by the Plurinational Legislative
Assembly of Bolivia; the ability
of the Company's Bolivian partner to convert the exploration
licenses at the Company's Carangas project to Administrative Mining
Contract; 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.
