NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2026

Rhea-AI Summary

New Pacific (NEWP) reported a Q3 2026 net loss of $0.87 million and a nine-month net loss of $3.20 million, slightly higher than a year earlier. Working capital was $39.28 million as of March 31, 2026.

The company signed a Framework Agreement with the Carangas community for the Carangas silver-gold project and continued capitalizing exploration at Silver Sand, Carangas, and Silverstrike, bringing total project costs to $119.48 million.

Positive

• Working capital of $39.28 million as of March 31, 2026
• Framework Agreement signed with Carangas community for Carangas silver-gold project
• Nine-month operating expenses decreased to $4.37 million from $4.56 million
• Income from investments increased to $0.71 million for nine months from $0.66 million
• Total capitalized project costs rose to $119.48 million
• Silver Sand nine-month capitalized expenditures increased to $1.91 million from $1.23 million

Negative

• Q3 2026 net loss of $0.87 million versus $0.86 million a year earlier
• Nine-month net loss widened to $3.20 million from $2.86 million
• Q3 operating expenses rose to $1.58 million from $1.40 million
• Nine-month foreign exchange gain fell to $0.47 million from $1.02 million
• Loss on disposal of plant and equipment of $0.02 million in the period

News Market Reaction – NEWP

-6.70%

24 alerts

-6.70% Session close to close

-16.3% Trough in 30 hr 40 min

$1.11B Market Cap

0.9x Rel. Volume

In the May 14 session, NEWP declined 6.70%, reflecting a notable negative market reaction. Argus tracked a trough of -16.3% from its starting point during tracking. Our momentum scanner triggered 24 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -6.7% in the session following this news. A negative reaction despite mixed-to-stabl...

Analysis

The stock moved -6.7% in the session following this news. A negative reaction despite mixed-to-stable earnings would have fit the pattern seen after several past reports, where losses and higher spending prompted selloffs of 5–11%. The company remains in an exploration phase with no operating revenue and growing capitalized project balances, which can make results sensitive to sentiment shifts. Persistent net losses and jurisdictional considerations around Bolivian projects could have amplified downside moves.

Key Figures

Net loss Q3 2026: $0.87M (or $0.0/share) Net loss 9M 2026: $3.20M (or $0.02/share) Net loss Q3 2025: $0.86M (or $0.01/share) +5 more

8 metrics

Net loss Q3 2026 $0.87M (or $0.0/share) Three months ended March 31, 2026

Net loss 9M 2026 $3.20M (or $0.02/share) Nine months ended March 31, 2026

Net loss Q3 2025 $0.86M (or $0.01/share) Three months ended March 31, 2025

Net loss 9M 2025 $2.86M (or $0.02/share) Nine months ended March 31, 2025

Working capital $39.28M As of March 31, 2026

Operating expenses $1.58M / $4.37M Three and nine months ended March 31, 2026

Investment income $0.29M / $0.71M Three and nine months ended March 31, 2026

Capitalized project balance $119.48M Silver Sand, Carangas, Silverstrike as of March 31, 2026

Previous Earnings Reports

4 past events · Latest: Feb 11 (Positive)

Same Type Pattern 4 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 11	Quarterly earnings	Positive	-11.3%	Reported Q2 2026 net loss with strong working capital and higher project spending.
Nov 07	Quarterly earnings	Positive	+12.3%	Q1 fiscal 2026 loss narrowed, expenses fell, and major equity financing closed.
May 07	Quarterly earnings	Positive	-5.8%	Q3 2025 losses improved versus 2024 with lower operating expenses and steady capitalized costs.
Feb 06	Quarterly earnings	Positive	-5.7%	Q4 2024 losses declined, operating expenses decreased, and working capital remained solid.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings releases often reported narrowing or manageable losses and solid working capital, yet price reactions skewed negative, suggesting a pattern of weak share responses to fundamentally stable updates.

Recent Company History

Over the past year, New Pacific’s earnings updates have highlighted recurring net losses but generally improving cost control and liquidity. Prior quarters showed net losses between $0.74M and $1.58M, with working capital rising from the mid‑teens to about $41.0M. Capitalized project spending across Silver Sand, Carangas and Silverstrike grew to $118.48M by Dec 31, 2025. Today’s Q3 2026 results continue the theme of exploration-stage losses alongside substantial project investment and higher working capital of $39.28M as of Mar 31, 2026.

Key Terms

framework agreement, capitalized exploration expenditures, management discussion and analysis

3 terms

framework agreement financial

"the Company signed a Framework Agreement for Cooperation and Coordination"

A framework agreement is a standing contract that lays out general rules, pricing ranges, and how the parties will work together when they later sign specific orders or projects — like an umbrella that covers future deals without fixing every detail up front. Investors watch these because they make future revenue more predictable, can speed up repeat business, and may signal the scale or stability of upcoming sales, reducing uncertainty about a company’s growth.

capitalized exploration expenditures financial

"Capitalized exploration expenditures Reporting and assessment | 94,894 | 190,352"

Costs spent searching for and testing natural resources—like drilling, surveying, and sampling—that a company records as an asset on its balance sheet instead of an immediate expense. Investors care because capitalizing these costs boosts short-term profit and increases reported assets, but future write-offs or failed exploration can reduce value later; it’s like treating a prospecting trip as buying a potential treasure map rather than chalking it up as a one-time cost.

management discussion and analysis financial

"read in conjunction with the Company's management discussion and analysis (the "MD&A")"

Management discussion and analysis is the section of a company’s regular financial filing where executives explain recent results, the reasons behind them, current challenges and the outlook in plain language. It’s like a CEO’s guided tour of the company’s performance and plans: it helps investors move beyond raw numbers to understand the assumptions, risks and strategy that will affect future profits and value. Investors use it to judge credibility, spot trends and compare management’s explanations across companies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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VANCOUVER, BC, May 13, 2026 /PRNewswire/ - New Pacific Metals Corp. ("New Pacific" or the "Company") reports its financial results for the three and nine months ended March 31, 2026. All figures are expressed in US dollars unless otherwise stated.

FISCAL 2026 Q3 HIGHLIGHT

• On February 23, 2026, the Company signed a Framework Agreement for Cooperation and Coordination (the "Agreement") with the Carangas community ("TIOC Carangas") in respect to the Carangas Silver–Gold project (the "Carangas Project"). The Agreement establishes a general framework of understanding and commitment between the Company and TIOC Carangas that reflects the shared intention to develop the Carangas Project based on transparency, fairness, mutual benefits, mutual respect, and long-term cooperation.

FINANCIAL RESULTS

Net loss attributable to equity holders of the Company for the three and nine months ended March 31, 2026 was $0.87 million or $0.0 per share and $3.20 million or $0.02 per share, respectively (the three and nine months ended March 31, 2025 – net loss of $0.86 million or $0.01 per share and $2.86 million or $0.02 per share, respectively). The Company's financial results were mainly impacted by the following items:

• Working Capital: As of March 31, 2026, the Company had working capital of $39.28 million.
  
  
• Operating expenses for the three and nine months ended March 31, 2026 were $1.58 million and $4.37 million, respectively (the three and nine months ended March 31, 2025 - $1.40 million and $4.56 million, respectively).

• Income from investments for the three and nine months ended March 31, 2026 were $0.29 million and $0.71 million, respectively (the three and nine months ended March 31, 2025 – $0.22 million and $0.66 million).

• Loss on disposal of plant and equipment for the three and nine months ended March 31, 2026 of $0.02 million (the three and nine months ended March 31, 2025 – $nil and $nil, respectively).

• Foreign exchange gain for the three and nine months ended March 31, 2026 was $ 0.44 million and $0.47 million, respectively (the three and nine months ended March 31, 2025 – $0.28 million and $1.02 million, respectively).

PROJECT EXPENDITURE

The following schedule summarized the expenditure incurred by category for each of the Company's projects for relevant periods:

Cost	Silver Sand	Carangas	Silverstrike	Total
Balance, June 30, 2024	$         88,977,334	$         19,854,042	$           4,934,555	$          113,765,931
Capitalized exploration expenditures
Reporting and assessment	94,894	190,352	-	285,246
Drilling and assaying	342	6,763	5,125	12,230
Project management and support	1,155,235	889,034	37,828	2,082,097
Camp service	179,873	295,804	17,033	492,710
Permit and license	12,606	47,818	-	60,424
Value added tax not claimed	109,086	44,020	2,046	155,152
Foreign currency impact	51,499	26,018	3,058	80,575
Balance, June 30, 2025	$         90,580,869	$         21,353,851	$           4,999,645	$          116,934,365
Capitalized exploration expenditures
Reporting and assessment	765	167,864	-	168,629
Drilling and assaying	-	-	589	589
Project management and support	1,161,287	631,835	39,427	1,832,549
Camp service	619,285	107,646	16,196	743,127
Permit and license	3,412	32,174	-	35,586
Acquisition of mineral concessions	-	-	-	-
Value added tax not claimed	124,754	15,361	965	141,080
Foreign currency impact	(275,390)	(85,633)	(19,244)	(380,267)
Balance, March 31, 2026	$        92,214,982	$        22,223,098	$          5,037,578	$          119,475,658

SILVER SAND PROJECT

For the three and nine months ended March 31, 2026, total expenditures of $0.73 million and $1.91 million, respectively (three and nine months ended March 31, 2025 - $0.30 million and $1.23 million, respectively) were capitalized under the project.

CARANGAS PROJECT

For the three and nine months ended March 31, 2026, total expenditures of $0.56 million and $0.95 million, respectively (the three and nine months ended March 31, 2025 - $0.41 million and $1.16 million, respectively)  were capitalized under the project.

SILVERSTRIKE PROJECT

For the three and nine months ended March 31, 2026, total expenditures of $0.01 million and $0.06 million, respectively (the three and nine months ended March 31, 2025 - $0.01 million and $0.05 million, respectively)  were capitalized under the project.

MANAGEMENT DISCUSSION AND ANALYSIS

This news release should be read in conjunction with the Company's management discussion and analysis (the "MD&A") and the audited consolidated financial statements and notes thereto for the corresponding period, which have been filed with the Canadian Securities Administrators and are available under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov and on the Company's website at www.newpacificmetals.com.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company advancing two permitting stage precious metals projects in Bolivia. Its Silver Sand project in Potosí has the potential to become one of the world's largest silver mines. The Carangas Silver–Gold Project in Oruro strengthens the Company's portfolio through scale, robust economics, and regional exploration potential. With over a decade of operating experience in Bolivia, New Pacific has earned the confidence of its stakeholders and shareholders. The Company is headquartered in Vancouver, British Columbia, and its shares trade on the Canadian Securities Exchange under the symbol "NUAG" and on the New York Stock Exchange under the symbol "NEWP".

For further information, please contact:

Peter Lekich, VP Investor Relations
New Pacific Metals Corp. Phone: (604) 633-1368 Ext. 223
1750 – 1066 Hastings Street, Vancouver, BC V6E 3X1, Canada
U.S. & Canada toll-free: 1 (877) 631-0593
E-mail: invest@newpacificmetals.com

For additional information and to receive the Company news by e-mail, please register using New Pacific's website at www.newpacificmetals.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical facts relating to the Company, certain information contained herein constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "goals", "forecast", "budget", "potential" or variations thereof and other similar words, or statements that certain events or conditions "may", "could", "would", "might", "will" or "can" occur. Forward-looking statements include, but are not limited to: statements regarding the Company's financial results.

Forward-looking statements are based on a number of estimates, assumptions, beliefs, expectations and opinions of management on the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include fluctuating equity prices, bond prices and commodity prices; calculation of resources, reserves and mineralization; general economic conditions; foreign exchange risks; interest rate risk; foreign investment risk; loss of key personnel; conflicts of interest; dependence on management; uncertainties relating to the availability and costs of financing needed in the future; environmental risks; operations and political conditions; the regulatory environment in Bolivia and Canada; risks associated with community relations and corporate social responsibility; and other factors described in the MD&A, under the heading "Risk Factors", in the Company's most recent annual information form and its other public filings. The foregoing is not an exhaustive list of the factors that may affect any of the Company's forward-looking statements or information.

The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and opinions include, but are not limited to, those related to the Company's ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in Bolivia; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with Corporación Minera de Bolivia by the Plurinational Legislative Assembly of Bolivia; the ability of the Company's Bolivian partner to convert the exploration licenses at the Company's Carangas project to Administrative Mining Contract; the ability of the Company to obtain national recognition of its Carangas project's proposed "State of Necessity" designation; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically required by applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise except as may be required by law. These forward-looking statements are made as of the date of this news release.

CAUTIONARY NOTE TO UNITED STATES INVESTORS

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of United States securities laws. All mining terms used herein but not otherwise defined have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). Unless otherwise indicated, the technical and scientific disclosure herein has been prepared in accordance with NI 43-101, which differs significantly from the requirements adopted by the United States Securities and Exchange Commission.

Accordingly, information contained in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Additional information relating to the Company, including the Company's annual information form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.newpacificmetals.com.

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SOURCE New Pacific Metals Corp.

FAQ

What were New Pacific (NEWP) net loss figures for Q3 2026 and year-to-date?

New Pacific reported a Q3 2026 net loss of $0.87 million and a nine-month net loss of $3.20 million. According to New Pacific, comparable prior-period losses were $0.86 million and $2.86 million, indicating slightly higher losses year over year.

How much working capital did New Pacific (NEWP) have as of March 31, 2026?

New Pacific reported working capital of $39.28 million as of March 31, 2026. According to New Pacific, this liquidity position supports ongoing exploration and corporate activities across the Silver Sand, Carangas, and Silverstrike projects in Bolivia.

What agreement did New Pacific (NEWP) sign for the Carangas silver-gold project in 2026?

On February 23, 2026, New Pacific signed a Framework Agreement with the Carangas community for the Carangas project. According to New Pacific, the agreement outlines cooperation based on transparency, fairness, mutual benefits, mutual respect, and long-term collaboration.

How did New Pacific (NEWP) operating expenses change for the nine months ended March 31, 2026?

Operating expenses for the nine months ended March 31, 2026 were $4.37 million, slightly below $4.56 million a year earlier. According to New Pacific, Q3 operating expenses were $1.58 million compared with $1.40 million in the prior-year quarter.

What were New Pacific (NEWP) capitalized exploration expenditures by project in Q3 2026?

For the three months ended March 31, 2026, New Pacific capitalized $0.73 million at Silver Sand, $0.56 million at Carangas, and $0.01 million at Silverstrike. According to New Pacific, nine-month capitalized amounts were $1.91 million, $0.95 million, and $0.06 million respectively.

What is the total capitalized cost of New Pacific (NEWP) projects as of March 31, 2026?

Total capitalized costs across Silver Sand, Carangas, and Silverstrike were $119.48 million as of March 31, 2026. According to New Pacific, balances were $92.21 million at Silver Sand, $22.22 million at Carangas, and $5.04 million at Silverstrike.

How did New Pacific (NEWP) investment income and foreign exchange gains perform in the latest period?

For the nine months ended March 31, 2026, investment income was $0.71 million and foreign exchange gain was $0.47 million. According to New Pacific, prior-year figures were $0.66 million for investment income and $1.02 million for foreign exchange gain.