New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF)  is pleased to announce that it has closed its previously announced bought deal financing, including the full exercise of the underwriter’s option. A total of 4,312,500 common shares of the Company were sold under the Offering at a price of $4.00 per Common Share for aggregate gross proceeds of $17,250,000. The Offering was underwritten by BMO Capital Markets.

The Company will use the net proceeds of the Offering to advance exploration and construct an exploration camp at the Company’s Silver Sand project in Bolivia.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States, absent such registration or an applicable exemption from such registration requirements.

About New Pacific Metals Corp.

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosí Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.