NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025

The most recent news release from November 7, 2025, reports New Pacific Metals' financial results for the three months ended September 30, 2025 (Q1 Fiscal 2026). Key financial figures include a net loss of $0.75 million USD and operating expenses of $1.32 million USD. Working capital at September 30, 2025, stood at $14.88 million USD.

The company also confirmed the closing of the previously announced C$40.4 million bought deal public offering on October 21, 2025, which involved the issuance of 11,385,000 common shares at C$3.55 per share. These proceeds are intended for exploration and development at the Carangas and Silver Sand projects, as well as for general corporate purposes. Strategic investors Silvercorp Metals Inc. and Pan American Silver Corp. participated in this financing.

Additionally, the news reiterates the permanent appointments of Jalen Yuan as Chief Executive Officer and Chester Xie as Chief Financial Officer, effective October 23, 2025. This was previously announced on October 23, 2025.

Project expenditures during the quarter were noted as $0.51 million USD for Silver Sand, $0.17 million USD for Carangas, and $0.02 million USD for Silverstrike.

The latest news release is routine and largely neutral in its impact. It primarily consolidates information that has already been disclosed or is expected for a non-revenue-generating exploration company.

The financial results for the quarter ended September 30, 2025, show a net loss and operating expenses consistent with ongoing exploration and administrative activities. These figures do not present any significant surprises or deviations from the company's historical burn rate for an exploration-stage company. The working capital of $14.88 million USD as of September 30, 2025, is a backward-looking figure and does not include the substantial C$40.4 million (approximately $29.5 million USD) in gross proceeds from the bought deal financing that closed on October 21, 2025. This significant infusion of capital post-quarter-end materially strengthens the company's financial position, ensuring it has sufficient funds for its planned activities in the short to medium term.

The confirmation of the C$40.4 million financing closing is positive, as it de-risks the company's immediate funding requirements. However, this event was already announced as closed on October 21, 2025, so its inclusion here is a formality reflected in the updated financial structure, not new material information. The participation of strategic investors like Silvercorp Metals Inc. (which increased its stake to 28.05%) adds a layer of confidence and stability, but this was also known from previous announcements regarding the financing.

The permanent appointments of the CEO and CFO, while positive for leadership stability, were announced on October 23, 2025. Thus, this is also a reiteration rather than new material information.

The reported project expenditures reflect continued, albeit modest, activity across the Bolivian projects, consistent with the company's stated disciplined approach to prioritize permitting before significant capital expenditure on drilling or feasibility studies for Carangas.

In summary, this news is a routine quarterly update that confirms previously announced material events and provides expected financial results. It does not introduce new catalysts, risks, or surprises that would materially alter the company's outlook or stock valuation beyond what was already priced in by the earlier financing news.

New Pacific Metals Corp. (NUAG) is a Canadian exploration and development company primarily focused on advancing its portfolio of silver projects in Bolivia. The company's strategy revolves around leveraging its projects' potential to become significant silver producers.

The company's flagship projects are: - Silver Sand Project: Located in the Colavi District of the Potosí Department, Bolivia, this project is touted as having the potential to be developed into one of the world's largest silver mines. Development has faced challenges related to securing surface rights and managing issues with artisanal and small-scale miners (ASMs). The company is focused on strengthening stakeholder relationships and advancing permitting. - Carangas Project: Situated southwest of Oruro, Bolivia, this project is described as a robust, high-margin silver-lead-zinc project. A Preliminary Economic Assessment (PEA) was filed in November 2024 (effective September 5, 2024), outlining its economic potential. However, further development, including a 20,000-meter drill program and feasibility study, has been deferred pending the migration of its exploration license to an administrative mining contract (AMC) and completion of formal community consent (Consulta Previa). - Silverstrike Project: An earlier-stage silver exploration project in Bolivia, where a discovery drill program was completed in 2022.

The company aims to advance these projects responsibly towards production, emphasizing patience and persistence in navigating Bolivia's complex regulatory and social landscape.