Mr. Malcolm Bell reports

NOVA PACIFIC METALS HIGHLIGHTS THE HISTORY AND REVITALIZATION PLANS FOR THE LARA VMS DEPOSIT

Nova Pacific Metals Corp. has discussed the history and revitalization plans for its Lara volcanogenic massive sulphide (VMS) deposit. The Lara property is located 15 kilometres west of Chemainus on southern Vancouver Island, British Columbia, in a prospective belt of uplifted Sicker Group volcanics which hosts a number of former VMS mines and mineral occurrences.

The material herein has been excerpted from "1980-1994 FINDING LARA" by Albert Reeve, former president, Laramide Resources, April, 2020, with minor changes made for consistency and clarity.

The Lara deposit, discovered in 1984 by Laramide Resources in partnership with Abermin Corp., was the subject of significant exploration efforts during the 1980s, only to languish as the result of depressed metal prices through the 1990s.

The Lara deposit's story began when geologist Gary Belik, an expert in volcanogenic base metal deposits, staked a mineralized outcrop on ground previously held by Cominco Ltd. This serendipitous find led to a series of exploration campaigns that have progressively unveiled the deposit's potential. Results of these efforts were highlighted by an 8.2-metre intersection of massive sulphides averaging 3.01 per cent zinc, 0.68 per cent copper, 0.45 per cent lead, 2.86 g/t (grams per tonne) gold and 55.85 g/t silver in the 12th diamond drill hole.

Extensive exploration followed, with 61 drill holes being completed in the 1985 exploration season and the definition of what became known as the Coronation zone and its extensions. A further 75 diamond drill holes were drilled in 1986, resulting in the definition of a high-grade trend in the Coronation zone that was 152.4 metres in length and 3.35 m thick, averaging: 6.80 g/t gold, 189.94 g/t silver, 14.9 per cent zinc, 1.5 per cent copper and 3.1 per cent lead. In addition, further exploration targets were defined along the Coronation trend and elsewhere on the property.

Over 10,000 m of infill drilling was completed by Minnova, an investing partner, on the Coronation zone in 1989. The following year, Minnova completed an additional 49 exploration holes totalling 11,167 m. Twenty-six (6,188 m) of these holes tested the 262 zone, a distal exhalite horizon, subparallel to and in the hangingwall of the Coronation zone.

In 1994, renowned geologists Dr. Giles Peatfield and Richard Walker conducted a comprehensive reinterpretation of the property's geology. Their report, "Reinterpretation of Geological Relationships on the Cowichan Uplift Polymetallic Mineral Property" recommended a program of geological remapping and identified six drilling targets based on the concept that VMS base metal deposits typically occur in clusters.

Cautionary statement: These results and estimates are historical and are used for reference purposes only. Nova Pacific has examined the historical drill data, sampling plans and exploration reports, and believes that the historical estimates are relevant. The company will need to complete additional drill holes to verify the historical resources in order to upgrade the estimates to make them compliant with the standards of National Instrument 43-101.

To date, 323 diamond drill holes totalling 58,262 m have been drilled on the property. The company is currently implementing a rapid revitalization plan for the Lara project that includes:

• Confirmation sampling of mineralized outcrops and showings that includes some backpack drilling (results pending).
• An in-depth evaluation of historical drill results enabling site selection for an upcoming program of 40 DD holes designed to confirm previous results as well as to target infill drill locations effectively. Phase one has already completed, and the final phase is expected to be completed by year-end, pending approval of necessary permits.
• Drill permits applications have been made and a reclamation bond is in place. The company has received several drill bids; the selection will be announced once the necessary permits have been received.
• Consultation with first nations have been initiated and meetings have been scheduled.
• Preparation of a mineral resource estimate that complies with CIM requirements once results from drilling are complete.
• Conducting optimization trials using optical mineral sorting processes in Q1 2025 utilizing crushed portions of drill core recovered from the drill program.

Nova Pacific's chief executive officer, Malcolm Bell, stated: "From an examination of the existing historical data, the company, in consultation with professional consultants, believes there is a significant opportunity to advance toward future development of the Lara deposit. A recent financing has closed and plans will soon be completed to conduct both confirmation and infill drilling within the Coronation trend including along strike extensions. We are excited to build upon the Lara legacy and maximize the potential of this remarkable asset."

Kingfisher agreement

In addition, Nova Pacific announces that the company has entered into an investor relations consulting agreement with Kingfisher Consulting Ltd. dated Nov. 14, 2024, pursuant to which Kingfisher will assist the company with its European marketing and communications strategy, including the creation of content, the co-ordination of press contacts and coverage, the management of social media channels, and related services. The agreement is for a term of three months commencing on Dec. 1, 2024, may be extended by the mutual consent of the parties, and requires the company to pay Kingfisher a total fee of 60,000 euros prior to services being rendered.

Kingfisher and the company are unrelated and unaffiliated entities and neither Kingfisher nor its principals have an interest, directly or indirectly, in any securities of the company. The agreement does not obligate the company to issue any securities to Kingfisher and is subject to all necessary approvals of the Canadian Securities Exchange.

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.

About Nova Pacific Metals Corp.

Nova Pacific is committed to advancing the Lara VMS deposit through responsible exploration and development. The company believes that the property's location, combined with its geological characteristics and historical exploration data, positions it as a promising project in the mining industry.

We seek Safe Harbor.