Mr. Andrew Williams reports

NEW PACIFIC METALS ANNOUNCES CEO TRANSITION AND NEW APPOINTMENT TO THE BOARD

Dr. Rui Feng, New Pacific Metals Corp.'s founder and chief executive officer (CEO), has stepped down as CEO. Andrew Williams has been appointed as CEO, effective immediately. Mr. Williams previously held the role of president of the company.

Dr. Feng will remain as a director of the company until the annual general meeting later in 2023, but will not stand for re-election as a director.

The company also welcomed Paul Simpson to its board of directors, effective immediately.

"Having founded New Pacific and made discovery of the Silver Sand deposit, I left the company as CEO in April, 2020, as a corporate governance initiative. I returned as CEO again in early 2022, and since then New Pacific has delivered a robust Silver Sand PEA and made a discovery at Carangas, which yielded the mineral resource estimate of a globally significant silver-gold polymetallic deposit. Now, a new capable team is in place, the timing is right to step down," said Dr. Feng. "As part of the succession planning, Andrew joined the company at the beginning of the year and has demonstrated leadership capabilities with integrity and initiative, features required to propel the company to the next stage of permitting for development of its projects in Bolivia."

Speaking on behalf of the board of directors, Terry Salman, chairman, commented: "The board wants to express sincerest thanks to our founder, Dr. Feng, for his visionary leadership and exploration expertise that led to acquisition, funding and discovery of a portfolio of world-class precious metal projects in Bolivia. We would not be where we are without him. Rui has worked closely with Andrew and the board is pleased to have Mr. Williams promoted as the CEO. We look forward to working with Andrew to advance the Silver Sand and Carangas projects and build value for our shareholders."

"I am both privileged and deeply honoured to assume the role of New Pacific's new CEO. I am excited about the opportunity to further build upon the remarkable foundation established by Dr. Feng," said Mr. Williams. "I couldn't be more excited to lead the company at this pivotal stage and am grateful to work alongside so many inspiring colleagues who are relentlessly focused on advancing our projects in Bolivia."

Mr. Simpson is a Vancouver-based corporate securities and mining lawyer with the firm Armstrong Simpson. He has over 25 years experience, predominately advising public companies with international natural resource property holdings. He has been a director and officer of a number of public companies, and is currently the lead independent director of Silvercorp Metals Inc.

About New Pacific Metals Corp.

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia, including the company's flagship project, the Silver Sand silver project, the company's recently discovered Carangas silver-gold project and the company's third project, the Silverstrike silver-gold project.

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