Multiple Zones Of Silver Mineralization Intersected At Snake Hole Zone - Silver Sand Project

VANCOUVER - New Pacific Metals Corp. reported that exploration drilling at the Snake Hole Zone continues to intersect broad zones of silver mineralization and confirms mineral continuity. The Snake Hole Zone prospect, located approximately 600 metres (m) east of the core area of the Silver Sand deposit, was discovered in late 2019 and returned results such as 279 g/t Ag over 72.44 m, including 517 g/t Ag over 32.96 m in discovery hole DSS5218.

During the first quarter of 2020, eight new drill holes were completed for a total of 1,589.75 m.  The objective of the drill program was to confirm the continuity of silver mineralization as well as to continue to explore the >1,000 m mineralized trend.  Seven of the eight holes intersected structurally controlled silver mineralization, of which assay results of six holes have been received with pending assay results for the remaining two holes.  Drill results confirm the continuity of silver mineralization between the holes on section 52, where the initial discovery at Snake Hole was made in 2019.

The Snake Hole Zone prospect consists of near-surface artisanal underground workings and related surface dumps which follow several NNW-SSE trending silver-mineralized structures.  As is the case with the Silver Sand deposit, historical mining at Snake Hole began during the Spanish colonial era and has continued sporadically to recent times. The workings are developed in altered (bleached) quartz sandstones and are traceable for more than 1,000 m in strike with widths varying from a few metres to locally up to 100 m wide.  Geochemical sampling of the workings and mine dumps returned consistent results typically ranging from 100 g/t Ag to 300 g/t Ag.

Surface mapping suggests the mineralized fracture zone remains open to north where it potentially trends undercover towards the Company’s Jisas prospect located approximately two kilometers (“km”) to the northwest.

New Pacific’ commitment to the health and safety of its teams and the communities in which it operates is one of the core values of the Company.  In response to the COVID-19 pandemic and based on guidance and directives from relevant public health authorities, the Company elected to temporarily suspend all field-based operations in Bolivia in mid-March.  The Company’s Health & Safety Team has implemented Company-wide safety protocols such as 14-day self-isolation where necessary, travel restrictions, remote working and enhanced hygiene controls.  New Pacific continues to monitor the situation and will return to operations when it is deemed safe to do so by international health authorities.