VANCOUVER, BC, Sept. 3, 2026 /PRNewswire/ -- New Pacific Metals Corp. ("New Pacific" or the "Company") reports its financial results for the three months and year ended June 30, 2026. All figures are expressed in US dollars unless otherwise stated.
FISCAL 2026 HIGHLIGHTS
- On August 21, 2026, the Company signed the Administrative Mining Contracts ("AMCs") for its Carangas Silver-Gold Project (the "Carangas Project") with the Autoridad Jurisdiccional Administrativa Minera (Administrative Mining Jurisdictional Authority, or "AJAM"). The AMCs, which cover the approximately 39 km2 of the Carangas Project, have a 30-year fixed term. The signed AMCs will now be submitted to the Plurinational Legislative Assembly of Bolivia for ratification and approval.
- On August 14, 2026, the Company filed an updated independent preliminary economic assessment technical report for its Carangas Project titled "Carangas Project NI 43-101 Technical Report and Preliminary Economic Assessment" (the "Updated Carangas PEA Technical Report"). The Updated Carangas PEA Technical Report is effective July 16, 2026 and was independently prepared by Ausenco Engineering Canada ULC. ("Ausenco") in accordance with National Instrument 43‐101 ‐ Standards of Disclosure for Mineral Projects ("NI 43‐101"). The Updated Carangas PEA Technical Report considers an increased throughput rate and the inclusion of the gold zone when compared to the previous preliminary economic assessment technical report dated September 5, 2024. See "Cautionary Note Regarding Results of Preliminary Economic Assessment". Highlights of the Updated Carangas PEA Technical Report are as follows:
- Post-tax net present value ("NPV") (5%) of $2.65 billion and internal rate of return ("IRR") of 35.9% at base case metal prices of: $45.00/ounce ("oz") silver ("Ag"), $3,400/oz gold ("Au"), $1.20/pound ("lb") zinc ("Zn"), and $0.90/lb lead ("Pb");
- 19-year life of mine ("LOM"), excluding two-years of pre-production, producing approximately 195 million oz ("Moz") of payable Ag, 1.1 Moz of payable Au, 1,453 million pounds ("Mlbs") of payable Zn and 941 Mlbs of payable Pb, or 339.0 Moz silver equivalent ("AgEq"); and
- Initial capital costs of $644.5 million and a post-tax payback of 2.4 years.
- On February 23, 2026, the Company signed a Framework Agreement for Cooperation and Coordination (the "Agreement") with the Carangas community ("TIOC Carangas") in respect to the Carangas Project. The Agreement establishes a general framework of understanding and commitment between the Company and TIOC Carangas that reflects the shared intention to develop the Carangas Project based on transparency, fairness, mutual benefits, mutual respect, and long-term cooperation.
- On October 21, 2025, the Company closed a bought deal financing. A total of 11,385,000 common shares of the Company were sold under the bought deal financing at a price of CAD $3.55 (approximately $2.53) per common share for total gross proceeds of approximately CAD $40.4 million (approximately $28.8 million). Raymond James Ltd. acted as sole bookrunner, and the Offering was co-led by Raymond James Ltd. and BMO Nesbitt Burns Inc. on behalf of a syndicate of underwriters.
- On October 23, 2025, the Company appointed Mr. Jalen Yuan as Chief Executive Officer ("CEO") and Mr. Chester Xie as Chief Financial Officer ("CFO"). Mr. Yuan has also been appointed to the Company's board of directors. This announcement follows the appointments of Mr. Yuan and Mr. Xie as Interim CEO and Interim CFO, respectively, in April 2025.
FINANCIAL RESULTS
Net loss attributable to equity holders of the Company for the three months and year ended June 30, 2026 was $0.99 million or $0.01 per share and $4.19 million or $0.02 per share, respectively (the three months and year ended June 30, 2025 – net loss of $0.89 million or $0.01 per share and $3.76 million or $0.02 per share, respectively). The Company's financial results were mainly impacted by the following items:
- Working Capital: As of June 30, 2026, the Company had working capital of $37.76 million.
- Operating expenses for the three months and year ended June 30, 2026 were $1.59 million and $5.95 million, respectively (the three months and year ended June 30, 2025 - $1.42 million and $5.98 million, respectively).
- Income from investments for the three months and year ended June 30, 2026 were $0.30 million and $1.01 million, respectively (the three months and year ended June 30, 2025 – $0.13 million and $0.79 million).
- Loss on disposal of plant and equipment for the three months and year ended June 30, 2026 were $nil and $0.02 million (the three months and year ended June 30, 2025 – $nil and $nil, respectively).
- Foreign exchange gain for the three months and year ended June 30, 2026 was $0.30 million and $0.77 million, respectively (the three months and year ended June 30, 2025 – $0.39 million and $1.41 million, respectively).
PROJECT EXPENDITURE
The following schedule summarized the expenditure incurred by category for each of the Company's projects for relevant periods:
SILVER SAND PROJECT
For the three months and year ended June 30, 2026, total expenditures of $0.80 million and $2.71 million, respectively (three months and year ended June 30, 2025 - $0.32 million and $1.55 million, respectively) were capitalized under the project.
CARANGAS PROJECT
For the three months and year ended June 30, 2026, total expenditures of $0.75 million and $1.71 million, respectively (the three months and year ended June 30, 2025 - $0.32 million and $1.47 million, respectively) were capitalized under the project.
SILVERSTRIKE PROJECT
For the three months and year ended June 30, 2026, total expenditures of $0.02 million and $0.08 million, respectively (the three months and year ended June 30, 2025 - $0.02 million and $0.06 million, respectively) were capitalized under the project.
MANAGEMENT DISCUSSION AND ANALYSIS
This news release should be read in conjunction with the Company's management discussion and analysis (the "MD&A") and the audited consolidated financial statements and notes thereto for the corresponding period, which have been filed with the Canadian Securities Administrators 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 advancing two permitting stage precious metals projects in Bolivia. Its Silver Sand project in Potosí has the potential to become one of the world's largest silver mines. The Carangas Silver–Gold Project in Oruro strengthens the Company's portfolio through scale, robust economics, and regional exploration potential. With over a decade of operating experience in Bolivia, New Pacific has earned the confidence of its stakeholders and shareholders. The Company is headquartered in Vancouver, British Columbia, and its shares trade on the Canadian Securities Exchange under the symbol "NUAG" and on the New York Stock Exchange under the symbol "NEWP".
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 to receive the 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 Updated Carangas PEA Technical Report are preliminary in nature and are intended to provide an initial assessment of the Carangas Project's economic potential and development options. The Updated Carangas PEA Technical Report 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 Updated Carangas PEA Technical Report 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. Bolivia has recently experienced significant social unrest, including protests and blockades that led to a government-declared state of emergency. The Company's projects have also previously been affected by illegal artisanal and small-scale mining activity, which resulted in disruption to operations. Such political and social instability could adversely affect the assumptions underlying the Updated Carangas PEA Technical Report, including anticipated permitting timelines, construction schedules, and operating costs. 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. The pit design for the deeper gold zone requires mining of waste (waste stripping) on Mining Concessions in the southern portion of the planned open pit that do not belong to the Company. These concessions include approximately 1.85% of the mineral resources that have been included in the economic analysis for the Updated Carangas PEA Technical Report. These Concessions are held by the state of Bolivia and are not currently available for tenure. Although the Company is actively working with the Bolivian government to obtain them, there is no certainty that such concessions will be obtained or that a mining agreement will be entered into on acceptable terms.