Mr. Sam Eskandari reports

NOVA PACIFIC METALS COMPLETES ACQUISITION AND SECURES 100% INTEREST IN THE LARA VMS PROJECT

Nova Pacific Metals Corp. has completed the acquisition of a 100-per-cent interest in the Lara volcanogenic massive sulphide project located on Vancouver Island, British Columbia. Nova Pacific recently made the final cash payment required under the company's property option agreement with two vendors dated June 14, 2024, as amended, one of whom was subsequently appointed as a director of the company.

The acquisition of the property comes on the heels of Nova Pacific's recently announced independent mineral resource estimate for the Coronation deposit at Lara, which established an initial near-surface, pit-constrained mineral resource for one of several mineralized zones identified on the Lara project and supports further technical evaluation.

With the final payment made and the transfer of the mineral claims completed, Nova Pacific now holds a 100-per-cent interest in the Lara project, subject only to a 2-per-cent net smelter return royalty in favour of the vendors, one-half of which (or 1 per cent) may be purchased by the company for $2-million in accordance with the terms of the option agreement.

Highlights include:

• Option exercise completed: Nova Pacific has completed the acquisition of a 100-per-cent interest in the Lara project, giving shareholders full exposure to the property's current resource base and broader exploration upside, subject only to the net smelter return royalty.
• Latest independent MRE at Coronation: A pit-constrained indicated resource of 1,944,000 tonnes grading 1.50 grams per tonne gold equivalent and a pit-constrained inferred resource of 2,024,000 tonnes grading 1.11 g/t AuEq.
• Growth runway across Lara: Following receipt of the MRE, the company plans to advance metallurgical and other technical studies at Coronation while future drilling is expected to focus on high-priority targets including Lady A, Lady C and Anita.

"Acquiring a 100-per-cent interest in Lara is a major milestone for Nova Pacific, especially coming immediately after our initial independent mineral resource estimate for the Coronation deposit," commented Sam Eskandari, the company's chief executive officer. "We believe securing full ownership gives our shareholders maximum exposure to the value of the current resource and the broader upside we see across the Lara project. With the option exercise complete, we are in a stronger position to advance Coronation through technical work and continue to evaluate additional mineralized zones across the property."

As announced on March 17, 2026, the Coronation MRE represents one of several mineralized zones identified on the Lara project and establishes a meaningful near-surface mineral resource whose scale and geometry support further technical evaluation. Nova Pacific believes the broader resource base at Lara may be expanded through exploration of additional zones across the property.

Under the terms of the option agreement, Nova Pacific paid an aggregate of $250,000 in cash to the vendors, plus certain minor late payment penalties, to earn a 100-per-cent interest in the Lara project.

Readers are cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability. The Coronation MRE is effective as of the date of Feb. 1, 2026, and was prepared by Gregory Z. Mosher, MSc, PGeo, a qualified person within the meaning of National Instrument 43-101. For full MRE tables, assumptions and notes, readers should refer to Nova Pacific's March 17, 2026, news release regarding the Coronation deposit.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Gregory Mosher, MSc, PGeo, of Mineit Consulting Inc., who is an independent consultant to the company and a qualified person as defined by National Instrument 43-101.

Rights of indigenous communities

Nova Pacific recognizes the inherent rights of all indigenous peoples of Canada, and is committed to early, meaningful and respectful engagement with first nations communities. The company acknowledges that its Lara project is located on the traditional, ancestral and unceded territories of the Hul'qumi'num Treaty Group, a politically unified group representing six Hul'qumi'num-speaking first nations: Cowichan, Stz'uminus, Penelakut, Lyackson, Halalt and Lake Cowichan.

Nova Pacific pursues early consultation and meaningful engagement with first nations communities to ensure that the company's mineral exploration and development activities are aligned with local priorities, values and cultural protocols while optimizing opportunities for collaboration. In particular, the company seeks to establish mutually beneficial partnerships with indigenous groups within whose traditional territories the company's projects are located. All work programs are carefully planned to achieve high levels of environmental and social performance while advancing reconciliation and economic opportunities within indigenous communities.

About Nova Pacific Metals Corp.

Nova Pacific is a Canadian exploration and development company advancing the Lara volcanogenic massive sulphide project on Vancouver Island, British Columbia. The company owns a 100-per-cent interest in the Lara project, which hosts a mineral resource enriched with critical and precious metals and is strategically located near key infrastructure. Nova Pacific's strategy includes exploration drilling, technical studies and systematic evaluation of the broader property to support future resource growth and project advancement. The company is committed to creating value for its shareholders while supporting environmental responsibility and strong community relationships.

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