Slide 1: Developing World Class Silver Deposits in Bolivia
March 2026 Developing World Class Silver Deposits in Bolivia TSX: NUAG | NYSE American: NEWP
Slide 2: Cautionary Notes
Cautionary Notes Currency All references to dollar values are in U.S. dollars unless otherwise stated. Qualified Person Unless otherwise stated, the scientific and technical information contained in this presentation has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploratio
Slide 3: Cautionary Notes
Cautionary Notes Silver Sand PFS Technical Report The disclosure in this presentation of a scientific or technical nature for the Silver Sand Project is supported by the pre-feasibility study technical report titled "Technical Report – Silver Sand Project Pre-Feasibility Study" with an effective dat
Slide 4: NUAG: Two Silver Assets with Global Scale
Who’s Covering The Next Silver Demand? NUAG: Two Silver Assets with Global Scale 21.1 Annual Production Moz 18.7 18.1M Moz 17.1 oz Moz 16.2M Starter Pit Carangas oz 6.6 6.9M oz Silver 4.6 Sand 12.1 Moz 3.7M oz 1.6M oz NUAG PAAS AG CDE HL SVM EDR FSM AYA Note: Consolidated annual silver production ba
Slide 5: 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 6: Two of the Largest Undeveloped Open Pitable Silver Projects in the World
Two of the Largest Undeveloped Open Pitable Silver Projects in the World SILVER SAND CARANGAS Preliminary Economic Preliminary Feasibility Report Assessment for Starter Study, June 2024 Pit, Sept 2024 6.6 Moz Ag Annual Production 12 Moz Ag 28 kt Pb+Zn Mine Life 13 years 16 years AISC1 $10.69/oz Ag $
Slide 7: 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 then advance Environmental License INCREASED VALUE NEW PACIFIC METALS Technical Work, Pre-Discovery Discovery Production Developme
Slide 8: Bolivia is Big for Silver
Bolivia is Big for Silver New Pacific discovery Producing mine 1.6 Boz of silver mined at Cerro Rico in Potosi since the 1500’s1 LA PAZ Three Large-scale silver mines in operation 4th Largest silver producing SANTA CRUZ country, output flat at ~42 Moz in CARANGAS 2023 & 20242 ORURO SILVER SAND POTOS
Slide 9: Our Strategy for Permitting Both Projects
Our Strategy for Permitting Both Projects Build alliances Engage Government "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 newpacificmetals.com 9
Slide 10: Carangas 2026 Objectives
2026 Objectives ❑ +30,000 metres Drilling Program to upgrade and expand gold and silver Carangas resources, Mar-Dec ❑ Finalize community agreement ❑ Update PEA to include Au Zone, May Permitting & Resource ❑ Complete conversion from Expansion Strategy exploration license (EL) to an exploitation lice
Slide 11: Carangas: Silver horizon above thick gold deposit
Carangas: Silver horizon above thick gold deposit 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 Upper Silver Indicated 119 85 327 45 171 0.1 216 0.3 917 0.7 1,730 Zone Inferred 31 80
Slide 12: Carangas: Silver horizon above thick gold deposit
Carangas: Silver horizon above thick gold deposit Conceptual pit Silver Zone Starter pit: Mill feed: 196 million t Ore: 64 million t Ag: 233 million oz Ag: 131 million oz Pb+Zn: 2.0 million t Pb+Zn: 0.8 million t Gold Zone Strip ratio: 1.7 Mill feed: 51.3 million t Ag recovery: 87% Au: 1.3 million o
Slide 13: Carangas: PEA On Starter Pit
Carangas: PEA On Starter Pit • Post-Tax NPV (5%): Items Unit Value • $501 million ($24.00/oz Ag) Total Ore Mined 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 Life Years 16.2 • 34% ($30.00/oz Ag) LOM Ag He
Slide 14: 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 15: Silver Sand 2026 Objectives
2026 Objectives ❑ Finalize community agreements Silver Sand ❑ Align stakeholders’ interests to advance the Environmental License (EEIA) ❑ Combine government engagement Permitting Strategy with strong local community partnerships ❑ Conduct additional geotechnical and hydrogeological drilling for the
Slide 16: Silver Sand: Near Surface, High Grade, Pure Silver
Silver Sand: Near Surface, High Grade, Pure Silver Starter pit @ ~140 g/t Ag grade, enable to produce 15Moz/year silver for first 3 years SW Line 5250 Cross Section NE Notes: See "Cautionary Note – Silver Sand PFS Technical Report“ TSX: NUAG | NYSE American: NEWP newpacificmetals.com 16
Slide 17: Silver Sand: PFS Highlights
Silver Sand: PFS Highlights • Post-Tax NPV (5%): Items Unit Value • $740 million($24.00/oz Ag) Total Ore Mined 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 Ag
Slide 18: 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-22 Jan-24 Jan-26 May-16 May-18 May-20 Emerald Resources Capricorn Metals Atlantic Gold $3 $3 $2 $2 $
Slide 19: Management and Board
Management and Board Management 1.2% Management, 5.8% Rui Feng Board & Insiders Jalen Yuan CEO 34.1% 11.5% Pan American Presumptive Silver Chester Xie CFO Retail Alex Zhang VP Exploration Shareholders 19.4% Carolina Ordoñez VP Corporate Affairs Institutional Ownership* Hianny Romero VP Bolivia Opera
Slide 20: 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 21: Mineral Reserve and Resource Estimates
Measured + Indicated Silver-Eq Resources of 762 Moz NI 43-101 Mineral Reserve Estimate Project Category Tonnes (Mt) Ag (g/t) Ag (Moz) Pure Silver Proven 15 121 59 Silver Sand Probable 37 98 117 Total Proven + Probable 52 105 175 NI 43-101 Mineral Resources Estimate (inclusive of Mineral Reserves) To
Slide 22: 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 23: 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 24: 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