Mr. J. Malcolm Bell reports

NOVA PACIFIC SIGNS OPTION AGREEMENT TO ACQUIRE THE ANITA PROPERTY

Nova Pacific Metals Corp. has entered into an option agreement with three arm's-length vendors to acquire 100-per-cent ownership of nine mineral tenures encompassing approximately 658 hectares located west-northwest of and contiguous to the company's flagship Lara project on Vancouver Island, British Columbia.

Anita property

The property encompasses the same highly prospective package of bimodal volcaniclastic rocks (McLaughlin Ridge formation) that host the company's Lara deposit. These rocks host numerous other polymetallic volcanogenic massive sulphide occurrences and mines in the Cowichan uplift and are correlative with the Myra formation of the Paleozoic Sicker group, which hosts ore at the notable Myra Falls mine of Trafigura Mining Group, approximately 140 kilometres to the northwest. Approximately four million tonnes of Myra Falls' premining estimate of over 40 million tonnes remain to be mined, after a 56-year mining history.

Base metal and precious metal massive sulphide mineralization outlined on the property by Falconbridge Ltd. in the 1980s was traced out on the surface and discontinuously in 56 drill holes (totalling 17,871 metres) over a strike length of approximately 2.5 kilometres. Anita zone mineralization, comprising 10 per cent to 25 per cent sulphides (pyrite plus or minus pyrrhotite plus sphalerite plus chalcopyrite plus or minus galena) appears to be at the same stratigraphic interval as the Lara project's Coronation trend to the east-southeast. Samples across mineralized drill intercepts returned assay values as high as 2.30 per cent copper, 3.66 per cent zinc, 0.49 per cent lead, 73.4 grams per tonne silver and 1.9 grams per tonne gold across a true thickness of 4.8 metres, while the best surface channel sample assayed 3.38 per cent copper, 9.98 per cent zinc, 0.66 per cent lead, 241 grams per tonne silver and 6.62 grams per tonne gold across 0.3 metre. A recent grab sample from a surface exposure near the Anita shaft also returned 1.655 per cent, 0.231 per cent zinc, 0.223 per cent lead, 2,520 grams per tonne silver and 8.17 grams per tonne gold, suggesting local precious metal enrichment. The trend is untested at depths below approximately 300 metres and for approximately two kilometres to the west-northwest.

Option terms

In order to exercise the option, the company is obligated to pay the vendors the following aggregate consideration:

• Upon the execution and delivery of the option agreement, $15,000 (paid) and 60,000 common shares in the capital of the company issued at a deemed price per Nova share equal to the volume-weighted average trading price of the Nova shares on the Canadian Securities Exchange for the 10 trading days prior to the date of issuance (the market price);
• $45,000 payable on Nov. 1, 2025, with $15,000 paid in cash and the remaining $30,000 to be paid in either cash or by the issuance of Nova shares at a deemed price per Nova share equal to the market price at the time of such issuance, or any combination thereof, with such election at the sole discretion of the company;
• $60,000 payable on Nov. 1, 2026, with $15,000 paid in cash and the remaining $45,000 to be paid in either cash or by the issuance of Nova shares at a deemed price per Nova share equal to the market price at the time of such issuance, or any combination thereof, with such election at the sole discretion of the company;
• The company has also agreed to pay the vendors $30,000 paid in either cash or by the issuance of Nova shares at a deemed price per Nova share equal to the market price at the time of such issuance, or any combination thereof, with such election at the sole discretion of the company on Nov. 1 (the annual preproduction royalty payment date) on an annual basis, beginning on Nov. 1, 2029;
• The company's obligation to pay the annual preproduction royalty in any year can be satisfied by incurring qualifying expenditures on the property in the amount of at least $300,000 in any 12-month period preceding the applicable annual preproduction royalty payment date; expenditures incurred in excess of $300,000 in the 24 months preceding the applicable annual preproduction royalty payment date may be applied toward the succeeding 24-month period as allocated by the company;
• The company may reduce the royalty granted to the vendors at any time from 2 per cent of net smelter returns to 0.5 per cent of net smelter returns by paying or causing its permitted assign to pay the sum of $2-million to the vendors in cash or Nova shares, and the company also has the right to accelerate the exercise of the option by making all the required cash payments in advance of any deadline dates.

J. Malcolm Bell, chief executive officer of Nova Pacific Metals, commented: "The Anita agreement represents a significant opportunity for Nova Pacific Metals to expand and optimize our potential to discover and develop additional deposits along strike, all within a highly prospective geological environment known for notable deposits of gold, silver, copper and zinc. The Anita claim group acquisition aligns with the company's commitment to increase value through responsible and ethical mining for the benefit of all shareholders."

All Nova shares issued in connection with the option agreement are subject to a statutory hold period expiring four months and one day from the date of issuance.

Qualified person

The technical information in this news release has been reviewed and approved by David Nelles, PGeo, a consultant to the company and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Rights of indigenous communities statement

Nova Pacific Metals recognizes the rights of all indigenous peoples of Canada. Nova is committed to consultation and accommodation with the Hul'qumi'num Treaty Group communities, on whose traditional, ancestral and unceded territory the Lara property is located. The Hul'qumi'num Treaty Group is a politically unified group that represents six Hul'qumi'num-speaking first nations: Cowichan, Stz'uminus, Penelakut, Lyackson, Halalt and Lake Cowichan.

About Nova Pacific Metals Corp.

Nova Pacific Metals is a Canadian exploration and development company focused on its key asset, the Lara volcanogenic massive sulphide (VMS) project on Vancouver Island, British Columbia. This brownfield development project boasts a significant polymetallic resource rich in gold, silver, copper and zinc, situated in a prime location with excellent infrastructure. Nova Pacific's forward-looking strategy includes confirmation and infill drilling, completion of an updated mineral resource estimate (MRE), and preparation of a prefeasibility study if and as required. The company is committed to creating value for its shareholders while maintaining environmental responsibility and strong community relationships.

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