New Pacific Metals Corp · TSX:NUAG
New Pacific Metals — Investor Presentation (August 2026)
22 slides from New Pacific Metals's investor presentation, August 2026
Slide 1: Developing World Class Silver & Gold Deposits in Bolivia
August 2026 Developing World Class Silver & Gold 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 22.7 22.8 Moz Moz Annual Production 17.9 Carangas Moz 17.0 10.6 Moz 15.4 Moz 6.8 6.5 Silver Sand Moz 5.0 Moz 12.1 Moz 1.0 Moz NUAG PAAS CDE HL AG SVM EDR AYA FSM Note: Consolidated annual silver production based on 1) a
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 2025 Difference Fortuna Mining 64% 4% -60% Pan American Silver 57% 23% - 34% Coeur Mining 52% 35% - 17% SSR Mining 39% 24% -15% Endeavour Si
Slide 6: Two of the Largest Undeveloped Silver Projects in the World
Two of the Largest Undeveloped Silver Projects in the World 2 1,2 SILVER SAND CARANGAS Preliminary Feasibility Preliminary Economic Report Study, June 2024 Assessment, July 2026 10.6 Moz Ag Annual Production 12 Moz Ag 62 koz Au 59 kt Pb+Zn Mine Life 13 years 19 years AISC1 $10.69/oz Ag $19.16/oz AgE
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 1.6 Boz of silver mined at New Pacific discovery Cerro Rico in Potosi since the Producing mine 1500’s Three Large-scale silver LA PAZ mines in operation 4th Largest silver producing country, output flat at ~42 SANTA CRUZ Moz in 2023 & 2024 CARANGAS Silver Sand and Carangas,
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
Carangas 2026 Objectives Permitting & Resource Completed Expansion Strategy ✓ Finalize Community Agreement ✓ Update PEA to include Au Zone Priorities ❑ +30,000 m drilling program to upgrade and expand gold and silver resources (September 2026) ❑ Convert Exploration License (EL) to Exploitation Licen
Slide 11: Carangas: World Class Silver Mine
Carangas: World Class Silver Mine • Post-Tax NPV (5%): Items Unit Value Total Ore Mined Mt 251.5 • $2.7 billion ($45.00/oz Ag, $3,400/oz Au) Open Pit Strip Ratio t:t 1.4 • $4.2 billion ($67.50/oz Ag, $3,400/oz Au) Annual Processing Rate Mt 8.0 – 16.0 • Post-Tax IRR: Mine Life Years 19 • 36% ($45.00/
Slide 12: Carangas: Silver horizon above thick gold deposit
Carangas: Silver horizon above thick gold deposit Conceptual Pit constrained Mineral Resources as of 31 March 2026 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 121.6 70 272.4 44 173.9 0.06 220.0 0.34 923.3 0.65 1,729.6 Zone
Slide 13: Carangas: Silver horizon above thick gold deposit
Carangas: Silver horizon above thick gold deposit CO NCEPT U AL PIT Ore 252 Mt Strip ratio 1.4 PRE- G O LD PRO DUCT IO N YE A R 1 – 8 Ag 124 Moz Pb+Zn 541 kt AISC $18.25/oz AgEq G O LD PRO DUCT IO N YE A R 9 – 1 6 Ag 61 Moz Au 1,142 koz Pb+Zn 353 kt AISC $17.78/oz AgEq G O LD BELO W CO NCEPT U AL PI
Slide 14: Carangas: Regional Exploration Potential
Carangas: Regional Exploration Potential The current drilling focused only on 41 km2 property Only 1 of 6 Regional geophysical survey covering entire anomalies drilled landholding completed in 2023 • Revealed multiple anomalies exhibiting high chargeability from 200 m to 800 m depth • Notably, one o
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 with strong local community Permitting Strategy 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 $17 New Pacific $14 Lundin Gold Orla $12 $6 $13 $10 $9 $4 $8 $5 $2 $6 $0 $1 $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 $2 $
Slide 19: Management and Board
Management and Board Management 1.1% Management, 5.8% Rui Feng Board & Insiders Jalen Yuan CEO 11.4% 22.8% Pan American Presumptive Chester Xie CFO Retail Silver Alex Zhang VP Exploration Shareholders Carolina Ordoñez VP Corporate Affairs 30.9% Institutional Ownership* Hianny Romero VP Bolivia Opera
Slide 20: Developing World Class Silver & Gold Deposits in Bolivia
Photo: Carangas Project Developing World Class Silver & Gold 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: inves
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 resulting Mining1 8.43 in a shallow pit with low strip Processing 7.12 • Contract mining eliminates mining fleet G&A 1.38 procurement and replacement Total operating co
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