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New Pacific Signs Memorandum of Understanding and Acquisition Option Agreement to Expand Land Package for Silver Sands Project
VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (TSX-V:NUAG) (OTCQX:NUPMF) (“New Pacific” or the “Company”) is pleased t
About this update from New Pacific Metals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, July 25, 2018 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (TSX-V:NUAG) (OTCQX:NUPMF) (“New Pacific” or the “Company”) is pleased to announce that the Company and its wholly-owned subsidiary, Empresa Minera Alcira S.A. (“Alcira”), signed a memorandum of understanding (the “MOU”) with Corporación Minera de Bolivia (“COMIBOL”), allowing Alcira to explore and develop 38 mineral concessions adjoining south and west to Alcira’s Silver Sands project in the Potosi Department of Bolivia. The MOU established a process for the parties to negotiate and complete definitive agreements on the mineral concessions. The signing of the MOU occurred at the Silver Sands project site attended by the Honourable, César Navarro Miranda, the Minister of Bolivia’s Ministry of Mining and Metallurgy, the Honourable, Hianny Romero, the Vice Minister of Bolivia’s Ministry of Development and Planning, José Pimentel, President of COMIBOL, Fernando Leyton, the Director of Land of Autoridad Jurisdiccional Administrativa Minera (“AJAM”), and representatives of the local communities. The Company has also entered into an acquisition option agreement with private owners to acquire their 100% interest in certain mineral concessions located adjacent to the Silver Sands project. The owners are currently mining silver at a small scale on the concessions. The Company expects to enter into additional acquisition option agreements with other private concession owners to further expand mineral concession area for the Silver Sand project. ABOUT NEW PACIFIC New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosi Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China. Its largest shareholders are Silvercorp Metals Inc. (TSX/NYSE American:SVM), and Pan American Silver Corp. (TSX/NASDAQ:PAAS), one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosi Department of Bolivia. For further information, contact:New Pacific Metals Corp.,Gordon NealPresidentPhone: (604) 633-1368Fax: (604) [email protected] www.newpacificmetals.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies...