VANCOUVER, BC, Sept. 3, 2026 /CNW/ -- 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:
Cost Silver Sand Carangas Silverstrike Total Balance, June 30, 2024 $ 88,977,334 $ 19,854,042 $ 4,934,555 $ 113,765,931 Capitalized exploration expenditures --------------------- Reporting and assessment 94,894 190,352 - 285,246 Drilling and assaying 342 6,763 5,125 12,230 Project management and support 1,155,235 889,034 37,828 2,082,097 Camp service 179,873 295,804 17,033 492,710 Permit and license 12,606 47,818 - 60,424 Value added tax not claimed 109,086 44,020 2,046 155,152 Foreign currency impact 51,499 26,018 3,058 80,575 Balance, June 30, 2025 $ 90,580,869 $ 21,353,851 $ 4,999,645 $ 116,934,365 Capitalized exploration expenditures --------------------- Reporting and assessment 765 519,339 - 520,104 Drilling and assaying 11,014 8,919 589 20,522 Project management and support 1,610,799 958,627 55,006 2,624,432 Camp service 899,749 154,812 19,458 1,074,019 Permit and license 6,359 42,203 - 48,562 Value added tax not claimed 176,952 21,178 965 199,095 Foreign currency impact (527,807) (181,714) (36,361) (745,882) Balance, June 30, 2026 $ 92,758,700 $ 22,877,215 $ 5,039,302 $ 120,675,217
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