VANCOUVER, BC, Feb. 1, 2023 /CNW/ - New Pacific Metals Corp. ("New Pacific" or the "Company") (TSX: NUAG) (NYSE American: NEWP), together with its local Bolivian partner, reports assay results for an additional 42 drill holes from the 2022 drill program at its Carangas Silver-Gold Project, Oruro Department, Bolivia (the "Carangas Project" or the "Project"). To date, assay results of 85 drill holes from the 115 holes drilled in 2022 have been received and released while results of the remaining 30 drill holes are pending. Detailed results and drill hole specifications are listed in Tables 1 and 2, as well as in Figure 1.

These 42 holes were drilled to define the continuity of the shallow silver mineralization on a grid with fifty-meter spacing. With the exception of one hole, all 41 drill holes intercepted broad silver mineralization, which further confirmed the continuity of the widespread shallow silver-lead-zinc polymetallic mineralization starting near surface in an area of up to 1,000 meters ("m") long by 800 m wide by 200m deep across the West Dome, the Central Valley and the East Dome. These drill hole results will be incorporated in the Project's inaugural mineral resource estimate expected to be released later in the year.

HIGHLIGHTS OF DRILL RESULTS

230.26 m interval (53.74 m to 284 m) grading 146 g/t silver ("Ag"), 0.3% lead ("Pb") and 0.69% zinc ("Zn"), including 12.06 m interval (from 115.49 m to 127.55 m) grading 2,160 g/t Ag, 0.74% Pb, 1.74% Zn and 0.13% copper ("Cu") in Hole DCAr0075.

127.51 m interval (1.8 m to 129.31 m) grading 92 g/t Ag, 0.4% Pb and 0.41% Zn, including 15.2 m interval (90.05 m to 105.25 m) grading 200 g/t Ag, 0.35% Pb and 0.38% Zn in Hole DCAr0099.

188.20 m interval (20.0 m to 208.2 m) grading 63 g/t Ag, 0.3% Pb and 0.79% Zn, including 49.62 m interval (from 22.68 m to 72.3 m) grading 157 g/t Ag, 0.74% Pb and 2.02% Zn in Hole DCAr0080.

122.52 m interval (54.28 m to 176.8 m) grading 61 g/t Ag, 0.47% Pb and 0.83% Zn, including 54.9 m interval (from 55.46 m to 110.36 m) grading 120 g/t Ag, 0.71% Pb and 1.24% Zn in Hole DCAr0074.

237.0 m interval (26.3 m to 263.3 m) grading 59 g/t Ag, 0.41% Pb and 0.78% Zn, including 54.59 m interval (78.1 m to 132.69 m) grading 205 g/t Ag, 0.5% Pb and 1.41% Zn in Hole DCAr0085.

207.86 m interval (205.9 m to 413.76 m) grading 60 g/t Ag, 0.29% Pb and 0.5% Zn, including 21.76 m interval (265.0 m to 286.76 m) grading 128 g/t Ag, 0.27% Pb and 0.56% Zn in Hole DCAr0110.

149.68 m interval (4.42 m to 154.1 m) grading 57 g/t Ag, 0.44% Pb and 0.13% Zn, including 14.53 m interval (23.61 m to 38.14 m) grading 194 g/t Ag and 0.59% Pb in Hole DCAr0125.

148.84 m interval (46.2 m to 195.04 m) grading 50 g/t Ag, 0.28% Pb and 0.76% Zn, including 44.1 m interval (150.94 m to 195.04 m) grading 104 g/t Ag, 0.25% Pb and 0.55% Zn in Hole DCAr0083.