Nova Pacific Metals Initiates Call for Drill Bids on Proposed 8,000 Meter Drill Program at the Lara Project

Vancouver, British Columbia--(Newsfile Corp. - November 8, 2024) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FRA: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce that planning is underway for a proposed 2025 exploration program at the Company's Lara Volcanogenic Massive Sulfide (VMS) Project near Duncan, BC (the "Property"). Nova Pacific is currently soliciting and reviewing drill bids with a start date for the program anticipated following the receipt of all required permits.

In preparation for the program, a permit application for a proposed 40-hole infill drill program was submitted to the British Columbia Ministry of Energy, Mines and Low Carbon Innovation as part of the Company's Notice of Work in late June 2024. Following the Ministry's acknowledgement and acceptance of the application, Nova Pacific recently paid a reclamation bond of $11,000 at the Ministry's request. Engagement with First Nation communities are progressing favourably.

The purpose of the program is to confirm historical drill results and tighten up the drill spacing in order to support the preparation of an updated mineral resource estimate (MRE) on the Property. The Company has retained Mineit Consulting Inc. of Vancouver BC, under the supervision of Shervin Teymouri, B.A.Sc., M.Eng., P.Eng., CEO & Principal Mining Engineer, to design the layout of the drill program which will provide sufficient new information to support a MRE that meets the requirements of National Instrument 43-101 and can be included in an updated technical report on the Property. The proposed layout for the drill program is presented in Figure 1.

Figure 1: Lara Property Proposed Drill Holes

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The Property is approximately 75 kilometres (km) north of Victoria, 15 km northwest of Duncan, and 12 km west of the village of Chemainus and is accessible via a network of logging and forestry roads. The Property was explored by geological mapping, geochemical and geophysical surveys, and diamond drilling between 1981 and 1999. In 2008, a MRE was completed for the Coronation Zone and five other zones.

The Property has been tested by approximately 470 drill holes, most of which were drilled between 1984 and 1990 (Figure 2). Numerous occurrences of mineralization were discovered, the most significant of which are the Coronation Zone and the nearby Coronation Extension and Hanging wall Zones. In 1988, the Coronation Zone was explored by 700 metres (m) of underground development. Of the 470 holes drilled, 180 tested the Coronation and adjacent zones (Figure 3).