Mr. Malcolm Bell reports

NOVA PACIFIC METALS CLOSES FLOW-THROUGH FINANCING OF $2,640,540

Nova Pacific Metals Corp. has closed the company's previously announced non-brokered private placement and issued a total of 6,287,000 flow-through common shares at a price of 42 cents per FT share for gross proceeds of $2,640,540.

Nova Pacific's chief executive officer, Malcolm J. Bell, commented: "We are very pleased to have successfully closed our flow-through financing, which has raised just over $2.6-million for the company's 2025 exploration program. The proceeds will be instrumental in funding our proposed drill campaign, a critical step in establishing an updated mineral resource estimate (MRE) for the Lara project. At Nova Pacific, we're building the foundation for a robust, productive future in the mining sector and we couldn't be more excited about the opportunities that lie ahead."

The gross proceeds from the sale of the FT shares will be used to incur eligible Canadian exploration expenses (CEE) that qualify as flow-through mining expenditures (as such terms are defined in the Income Tax Act (Canada)) on the company's Lara property located in British Columbia. The company expects to incur such CEE on or before Dec. 31, 2025, and renounce such CEE to the purchasers of the FT shares with an effective date of no later than Dec. 31, 2024.

All securities issued in connection with the offering are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

In connection with the private placement, the company paid cash fees of $184,837.80 and issued 440,090 warrants to one qualified finder, Red Cloud Securities Inc. Each warrant is exercisable into one common share of the company at a price of 42 cents per share for a period of 24 months from the date of issuance.

Rights of indigenous communities statement

Nova Pacific recognizes the rights of all indigenous peoples of Canada. The company 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 is a Canadian exploration and development company focused on its key asset, the Lara volcanogenic massive sulphide project on Vancouver Island, British Columbia. This brownfield development project boasts a significant historic resource rich in critical and precious metals 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, and preparation of a prefeasibility study if and as required. It is committed to creating value for its shareholders while maintaining environmental responsibility and strong community relationships.

We seek Safe Harbor.