New Pacific Metals Corp. announced the receipt of assay results from five additional drill holes from the Phase I discovery drill program at the Carangas Silver Project, Oruro Department, Bolivia. Similar to the first six drill holes reported previously, all five drill holes intersected broad zones of silver-rich, polymetallic mineralization in the Central Valley Zone starting near-surface or immediately beneath younger fluvial sediment cover and continuing to depth. The Phase I discovery drill program consisted of 3,790 metres ("m") drilled in 13 drill holes (Table 2), testing the West Dome, East Dome, Central Valley, and South Dome targets. All 13 drill holes intersected thick intervals of predominantly structurally controlled (with or without disseminations) polymetallic mineralization, defining a mineralized area approximately 1,000 m long by 700 m wide and up to 400 m in depth (Figure 1). The West and East Dome zones are comprised of outcropping mineralized volcanic breccia and/or altered lithic tuff cut by mineralized fracture zones associated with widespread historical mining workings. The Central Valley Zone sits between the West and East Domes and is covered by recent fluvial sediments, which range from a few metres up to 40 metres of thickness (Figure 1). The most recent drill assays provide initial results from the East Dome and Central Valley targets. Encouraged by results to date, two additional drill rigs were mobilized to site, for a total of three, to compete the Phase II drill campaign. Additional assay results will be provided upon receipt. Three drill holes, DCAr0007, DCAr0008 and DCAr0009, were drilled to the north-east at -45 degrees, testing the East Dome target. All drill holes returned broad zones of silver-rich polymetallic mineralization. Numerous mined-out voids, which historically exploited outcropping higher-grade veins /structures at depth, were intersected, suggesting that the drill holes may be under-reporting the true average grades of the mineralized intervals. Future drilling will test the East Dome target at depth. Drill hole DCAr0007 was collared midway on the western slope of East Dome and intercepted a 220.51 m interval at a grade of 49 g/t AgEq (19 g/t Ag, 0.30% Pb, 0.62% Zn, and 0.01% Cu), including a higher-grade sub-interval of 40.13 m at a grade of 125 g/t AgEq (29 g/t Ag, 0.74% Pb, and 2.21% Zn). An aggregate length of 13.34 m of historical mined-out zones (zero core recovery) was intersected. Mineralization continues at the end of the drill hole (300 m) but systematical sampling only occurred to 220.51 m depth. The Carangas technical team is currently sampling the lower portions of the drill hole. Drill hole DCAr0008 was collared in the lower western slope of East Dome and intercepted a 236.81 m interval at a grade of 64 g/t AgEq (31 g/t Ag, 0.28% Pb, 0.72% Zn, and 0.01% Cu), including two higher-grade sub-intervals of 17.72 m at a grade of 194 g/t AgEq (96 g/t Ag, 0.84% Pb, 2.15% Zn, and 0.01% Cu) and 16.70 m at a grade of 184 g/t AgEq (171 g/t Ag, 0.22% Pb, and 0.19% Zn). Drill hole DCAr0008 encountered 5.23 m of historical mining voids. Similar to drill hole DCAr0007, mineralization continues at the end of the drill hole with systematical sampling stopping at 250.38 m. The Carangas technical team is currently sampling the lower portions of the hole. Drill hole DCAr0009 was collared near the top of East Dome and intercepted a 52.91 m interval at a grade of 49 g/t AgEq (30 g/t Ag, 0.52% Pb, 0.08% Zn, and 0.01% Cu). The majority of the drill hole is geochemically anomalous and, based on the current geological model, is interpreted to represent the distal /upper portions of the large mineralized system. Based on results to date, mineralization (thickness and grade) increases towards the Central Valley Zone. The first two drill holes completed in the Central Valley Zone, DCAr0010 and DCAr0011, were drilled to the north-east at -45 degrees and returned long mineralized intercepts, which start immediately below semi-consolidated younger fluvial sediments. In general, both drill holes returned thicker and broadly higher average grade intervals compared to the East Dome drill holes, which suggests that they may be closer to the hydrothermal source. The results demonstrate that the mineralized structures mapped and intersected in the West and East Dome zones continue below younger cover in the Central Valley Zone. Based on current data, these structures are expected to form a large geological contiguous silver-rich polymetallic system. It is anticipated that future assay results will continue to support this working geological model. Drill hole DCAr0010, the first hole to test the Central Valley target, intercepted a 98.01 m interval at a grade of 98 g/t AgEq (43 g/t Ag, 0.41% Pb, 1.2% Zn, and 0.02% Cu) from bedrock at 61.69 m downhole (with depth 0.00 m to 61.69 m comprised of fluvial sediments). The drill hole terminated in a weakly altered basaltic dyke cut by sparse mineralized veinlets. Drill hole DCAr0011 collared approximately 100 m to the south of drill hole DCAr0010, intercepted a 176.77 m interval at a grade of 94 g/t AgEq (44 g/t Ag, 0.39% Pb, 1.07% Zn, and 0.03% Cu), including a higher-grade sub interval of 60.45 m at a grade of 169 g/t AgEq (84 g/t Ag, 0.61% Pb, 1.86% Zn, and 0.04% Cu). The drill hole terminated in mineralization. Fluvial sediments are present from 0.00 m to 73.23 m.