New Pacific Metals Corp · TSX:NUAG
New Pacific Metals — Investor Presentation (August 2025)
23 slides from New Pacific Metals's investor presentation, August 2025
Slide 1: Developing World Class Silver Deposits in Bolivia
August 2025 Developing World Class Silver Deposits in Bolivia TSX: NUAG | NYSE American: NEWP
Slide 2: Cautionary Note
Cautionary Note CAUTIONARY NOTE REGARDING FORWARD‐LOOKING INFORMATION Certain of the statements and information in this presentation constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” with
Slide 3: Silver Producers are Becoming Gold Producers
Silver Producers are Becoming Gold Producers Due to few silver discoveries and scarce silver deposits Silver as % of Revenue for Selected Silver Producers 2014 2024 Difference Fortuna Mining 64% 10% -54% Pan American Silver 57% 19% - 37% Coeur Mining 52% 30% - 21% SSR Mining 39% 27% -12% Endeavour S
Slide 4: Two Assets with Global Scale
Two Assets with Global Scale 21.1 Annual Silver Production Moz 18.7 18.1 Moz 17.1 Moz Moz 16.2 Carangas Moz 6.6 6.2 Silver Sand Moz 4.6 12.1 Moz 3.7 Moz 1.6 Moz NUAG PAAS AG CDE HL SVM EDR FSM AYA NUAG’s potential annual silver production would be second only to PAAS Note: Consolidated annual silver
Slide 5: NUAG Owns Two of the Largest Undeveloped Open Pitable Silver Projects in the World
NUAG Owns Two of the Largest Undeveloped Open Pitable Silver Projects in the World SILVER SAND CARANGAS Preliminary Feasibility Preliminary Economic Tech Report Study, June 2024 Assessment, Sept 2024 Avg. Annual 12 Moz Ag 6.6 Moz Ag Production Mine Life 13 years 16 years AISC $10.69/oz Ag $7.60/oz A
Slide 6: Bolivia is Big for Silver
Bolivia is Big for Silver By the Numbers: New Pacific discovery Producing mine 1.6 Boz of silver mined at Cerro Rico in Potosi since the 1500’s LA PAZ 3 Large-scale, modern silver mines in operation 4th Largest silver producer SANTA CRUZ globally, 42 Moz in 2023 CARANGAS ORURO SILVER SAND Minimal in
Slide 7: Our Permitting & Development Strategy
Our Permitting & Development Strategy Build alliances at the local level Engage national stakeholders "from the bottom up" "from the top down" Local Community Legislative Approval Regional Mining Federal Government Industry Support Local Government Title Protection TSX: NUAG | NYSE American: NEWP ne
Slide 8: Silver Sand: Near Term Objectives
Near Term Objectives Silver Sand • End illegal mining in the project area • Align stakeholder interest to advance Environmental License Pathway to Success Permitting Strategy • Combine government engagement with strong local partnerships TSX: NUAG | NYSE American: NEWP newpacificmetals.com 8
Slide 9: Silver Sand: Resources and Reserves
Silver Sand: Resources and Reserves NI 43-101 Mineral Reserve Estimate Class Tonnes (Mt) Ag (g/t) Ag (Moz) Proven 15.1 121 58.8 Probable 36.9 98 116.6 Proven + Probable 52.0 105 175.4 NI 43-101 Mineral Resources Estimate (inclusive of Mineral Reserves) Class Tonnes (Mt) Ag (g/t) Ag (Moz) Measured 14
Slide 10: Silver Sand: Near Surface, High Grade, Pure Silver
Silver Sand: Near Surface, High Grade, Pure Silver • High-grade (~140 g/t Ag) enables 15Moz/year starter pit for first 3 years SW Line 5250 Cross Section NE TSX: NUAG | NYSE American: NEWP newpacificmetals.com 10
Slide 11: Silver Sand: PFS Highlights
Silver Sand: PFS Highlights • Post-Tax NPV (5%): Items Unit Value • $740 million($24.00/oz Ag) Total Ore Mined1 Kt 52,014 • $1.12 billion($30.00/oz Ag) Open Pit Strip Ratio t:t 3.3:1 • Post-Tax IRR: Annual Processing Rate Kt 4,000 • 37% ($24.00/oz Ag) LOM Silver Head Grade g/t 105 • 48% ($30.00/oz A
Slide 12: Carangas: Near Term Objectives
Near Term Objectives • Complete conversion from Carangas exploration license (EL) to an exploitation license (AMC) Pathway to Success • Combine government Permitting Strategy engagement with strong local partnerships TSX: NUAG | NYSE American: NEWP newpacificmetals.com 12
Slide 13: Near Surface Silver Zone with Deeper Gold Resources
Near Surface Silver Zone with Deeper Gold Resources SW NE 2024 PEA focused on 64Mt within the Upper Silver Zone Conceptual Pit constrained Mineral Resources as of 25 August 2023 for Carangas Tonnage AgEq Ag Au Pb Zn Domain Category Mt g/t Mozs g/t Mozs g/t Kozs % Mlbs % Mlbs Indicated 119 85 327 45
Slide 14: Carangas: PEA Highlights
Carangas: PEA Highlights • Post-Tax NPV (5%): Items Unit Value • $501 million ($24.00/oz Ag) Total Ore Mined1 Mt 64.4 • $748 million ($30.00/oz Ag) Open Pit Strip Ratio t:t 1.7:1 • Post-Tax IRR: Annual Processing Rate Mt 4.0 • 26% ($24.00/oz Ag) Mine Life2 Years 16.2 • 34% ($30.00/oz Ag) LOM Ag Head
Slide 15: Carangas: Regional Exploration Potential
Carangas: Regional Exploration Potential • Existing drilling focused only on one small area of the 41 km2 property • Regional geophysical survey covering entire landholding completed in 2023 Only 1 of 6 anomalies drilled • Revealed multiple anomalies exhibiting high chargeability from 200 m to 800 m
Slide 16: NUAG Near Term Catalysts
NUAG Near Term Catalysts Silver Sand: Align stakeholder interest to advance Environmental License Carangas: Convert Exploration License to Administrative Mining Contract INCREASED VALUE NEW PACIFIC METALS Technical Work, Pre-Discovery Discovery Production Development & Permitting TSX: NUAG | NYSE Am
Slide 17: Developers: Unsung Heroes of Value Creation
Developers: Unsung Heroes of Value Creation Significant Gains Through Project Advancement $8 $15 New Pacific $14 Lundin Gold Orla $12 $12 $6 $9 $10 $4 $6 $8 $2 $3 $6 $0 $0 $4 Jan/17 Jan/19 Jan/21 Jan/20 Jan/22 Jan/24 Jan/26 May/16 May/18 May/20 Emerald Resources Capricorn Metals Atlantic Gold $3 $3
Slide 18: Developing World Class Silver Deposits
Developing World Class Silver Deposits in Bolivia TSX: NUAG | NYSE American: NEWP HEAD OFFICE Suite 1750 – 1066 West Hastings Street Vancouver, BC | V6E 3X1 INVESTOR RELATIONS Tel: (604) 633-1368 U.S. & Canada toll-free: 1-877-631-0593 newpacificmetals.com Email: invest@newpacificmetals.com
Slide 19: Experienced Management and Board
New Pacific Metals Experienced Management and Board Management 1.1% 6.2% Jalen Yuan Interim CEO Management, Rui Feng Board & Insiders Alex Zhang VP of Exploration 37.1% 11.6% Pan American Presumptive Silver Hianny Romero Bolivia Country Manager Retail Chester Xie Interim CFO Shareholders 15.8% Carol
Slide 20: Silver Projects Comparison
Silver Projects Comparison Company New Pacific Discovery Silver Bear Creek AbraSilver Vizsla Silver Project Silver Sand Carangas Combined Cordero Corani Diablillos Panuco Study 2024 PFS 2024 PEA - 2024 FS 2019 FS 2024 PFS 2024 PEA Mining Method Open Pit Open Pit - Open Pit Open Pit Open Pit Undergro
Slide 21: Silver Sand: PFS Capital Cost Estimate
Silver Sand: PFS Capital Cost Estimate Cost Project Advantages Description ($M) • Contract mining: eliminates Mine pre-production procurement of mining fleet and 76 sustaining capital for fleet and development costs replacement Processing plant 207 • Connection to electrical grid: TSF2 and site low-
Slide 22: Carangas: Operating & Capital Cost Estimate
Carangas: Operating & Capital Cost Estimate Project Advantages Operating Costs $/t milled • Near surface, flat-lying mineralization Mining1 6.00 resulting in a shallow pit with low strip Processing 9.00 • Contract mining eliminates mining fleet G&A 3.60 procurement and replacement Total operating co
Slide 23: Notes to Resources and Reserves
Notes to Resources and Reserves Silver Sand: Notes to NI 43-101 Mineral Reserve Estimate • CIM Definition Standards (2014) were used for reporting the Mineral Reserves. • The qualified person is Wayne Rogers, P.Eng. of AMC Consultants. • Cut-off grade of 27 g/t Ag for material inside the administrat
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