New Pacific Reports Financial Results for the Three and Six Months Ended December 31, 2015-Appoints Corporate Secretary

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 12, 2016) - New Pacific Metals Corp. (TSX:NUX) ("New Pacific" or the "Company") today announced its unaudited condensed consolidated interim financial results for the three and six months ended December 31, 2015.

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at www.sedar.com and are also available on the Company's website at www.newpacificmetals.com. All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.

FIRST QUARTER FINANCIAL HIGHLIGHTS

For the three months ended December 31, 2015, the Company reported net income attributable to equity holders of $ 545,369 or $0.01 per share compared to $355,455 or $0.01 per share in the same prior year period.

For the six months ended December 31, 2015, the Company reported net income attributable to equity holder of $1,935,441 or $ 0.03 per share compared to $ 960,006 or $0.01 per share in the same prior year period.

Excluding effects from foreign exchange and other non-cash expenses, the Company recorded cash expenses of $213,982 and $452,362 in the three and six months, respectively, ended December 31, 2015 compared to $321,228 and $603,996 in the same prior year period.

As at December 31, 2015, the Company had $24.4 million cash and cash equivalents and short term investments.

CHANGE OF SENIOR MANAGEMENT

The Company announced that Mr. Peter Torn, the Company's Corporate Secretary since 2010, resigned for personal reasons as of December 2015. The Company wishes to thanks Mr. Torn for his contribution to the Company during his years of service. The Company appointed Mr. Jalen Yuan, who is the Chief Financial Officer of the Company, to be the new Corporate Secretary.

ABOUT NEW PACIFIC

New Pacific is a Canadian gold and silver exploration and development company which owns the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this press release constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.