New Pacific Signs Memorandum of Understanding and Acquisition Option Agreement to Expand Land Package for Silver Sands Projec...
July 25 2018 - 6:50AM
New Pacific Metals Corp. (TSX-V:NUAG) (OTCQX:NUPMF) (“New Pacific”
or the “Company”) is pleased to announce that the Company and its
wholly-owned subsidiary, Empresa Minera Alcira S.A. (“Alcira”),
signed a memorandum of understanding (the “MOU”) with
Corporación Minera de Bolivia (“COMIBOL”), allowing Alcira to
explore and develop 38 mineral concessions adjoining south and west
to Alcira’s Silver Sands project in the Potosi Department of
Bolivia. The MOU established a process for the parties to
negotiate and complete definitive agreements on the mineral
concessions. The signing of the MOU occurred at the Silver
Sands project site attended by the Honourable, César Navarro
Miranda, the Minister of Bolivia’s Ministry of Mining and
Metallurgy, the Honourable, Hianny Romero, the Vice Minister of
Bolivia’s Ministry of Development and Planning, José Pimentel,
President of COMIBOL, Fernando Leyton, the Director of Land of
Autoridad Jurisdiccional Administrativa Minera (“AJAM”), and
representatives of the local communities.
The Company has also entered into an acquisition
option agreement with private owners to acquire their 100% interest
in certain mineral concessions located adjacent to the Silver Sands
project. The owners are currently mining silver at a small
scale on the concessions. The Company expects to enter into
additional acquisition option agreements with other private
concession owners to further expand mineral concession area for the
Silver Sand project.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and
development company which owns the Silver Sand Project in the
Potosi Department of Bolivia, the Tagish Lake gold project in
Yukon, Canada and the RZY Project in Qinghai Province, China. Its
largest shareholders are Silvercorp Metals Inc. (TSX/NYSE
American:SVM), and Pan American Silver Corp. (TSX/NASDAQ:PAAS), one
of the world's largest primary silver producers, which operates six
mines, including the San Vicente mine located in the Potosi
Department of Bolivia.
For further information,
contact:New Pacific Metals Corp.,Gordon
NealPresidentPhone: (604) 633-1368Fax: (604)
669-9387info@newpacificmetals.comwww.newpacificmetals.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary note regarding forward looking
statements
This news release contains forward-looking
statements regarding future events and the Company’s future results
that are subject to the safe harbors created under the U.S. Private
Securities Litigation Reform Act of 1995, the Securities Act of
1933, as amended (the "Securities Act"), and the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and
applicable Canadian securities laws. These statements are based on
current expectations, estimates, forecasts, and projections about
the Company’s exploration projects, the industry in which the
Company operates and the beliefs and assumptions of the Company's
management. Words such as "expects," "anticipates," "targets,"
"goals," "projects," "intends," "plans," "believes," "seeks,"
"estimates," "continues," "may," variations of such words, and
similar expressions and references to future periods, are intended
to identify such forward-looking statements. Forward-looking
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond our control, including such
factors as the results of exploration activities and whether the
results continue to support continued exploration activities,
unexpected variations in ore grade, types and metallurgy,
volatility and level of commodity prices, the availability of
sufficient future financing, and other matters discussed under the
caption "Risk Factors" in our Annual Information Form for the
fiscal year ended June 30, 2017, and our other periodic and current
reports filed with the SEC and available on www.sec.gov and with
the Canadian securities commissions available on www.sedar.com.
Readers are cautioned that forward-looking statements are not
guarantees of future performance and that actual results or
developments may differ materially from those expressed or implied
in the forward-looking statements. Any forward-looking statement
made by us in this news release is based only on information
currently available to us and speaks only as of the date on which
it is made. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.