NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025

Rhea-AI Summary

New Pacific (TSX:NEWP) reported results for the three and six months ended December 31, 2025, recording a net loss of $1.58M (Q2) and $2.33M (six months). Working capital stood at $41.0M. Bolivia announced a market-oriented policy shift in November 2025; the company is engaging government stakeholders. Capitalized project costs totaled $118.48M at December 31, 2025, across Silver Sand, Carangas and Silverstrike.

Positive

• Net loss increased to $1.58M in Q2 (three months ended Dec 31, 2025)
• Working capital of $41.0M at Dec 31, 2025 supports near-term operations
• Income from investments rose to $0.31M in Q2 2026

Negative

• Foreign exchange swung to a $0.42M loss in Q2 2026 versus a $0.64M gain prior year
• Carangas capitalized expenditures fell to $0.22M in Q2 2026, down from $0.39M

Key Figures

Q2 net loss: $1.58M (=$0.01/share) Six‑month net loss: $2.33M (=$0.01/share) Prior‑year Q2 net loss: $0.74M (=$0.00/share) +5 more

8 metrics

Q2 net loss $1.58M (=$0.01/share) Three months ended December 31, 2025

Six‑month net loss $2.33M (=$0.01/share) Six months ended December 31, 2025

Prior‑year Q2 net loss $0.74M (=$0.00/share) Three months ended December 31, 2024

Working capital $41M As of December 31, 2025

Q2 operating expenses $1.47M Vs. $1.59M in prior‑year quarter

Income from investments $0.31M Three months ended December 31, 2025

FX loss / gain $(0.42)M / $0.04M Three and six months ended December 31, 2025

Total project balance $118.48M Capitalized costs across Silver Sand, Carangas, Silverstrike at Dec 31, 2025

Market Reality Check

Price: $3.98 Vol: Volume 938,709 is 0.77x t...

normal vol

$3.98 Last Close

Volume Volume 938,709 is 0.77x the 20-day average of 1,217,256, showing lighter-than-normal trading. normal

Technical Price $3.98 is trading above the 200-day MA of $2.29 and 328.33% above the 52-week low, but 15.23% below the 52-week high.

Peers on Argus

NEWP gained 5.29% while key peers like ASM (-4.29%), WRN (-1.21%), ITRG (-1.6%) ...

1 Down

NEWP gained 5.29% while key peers like ASM (-4.29%), WRN (-1.21%), ITRG (-1.6%) and TMQ (-1.08%) traded lower, indicating a stock-specific reaction rather than a sector-wide move.

Previous Earnings Reports

5 past events · Latest: Nov 07 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 07	Quarterly earnings	Positive	+12.3%	Improved loss, solid working capital and bought deal financing update.
May 07	Quarterly earnings	Positive	-5.8%	Lower net loss, reduced expenses and stable working capital for Q3 2025.
Feb 06	Quarterly earnings	Positive	-5.7%	Reduced losses, lower operating expenses and strong working capital position.
May 07	Quarterly earnings	Positive	-1.5%	Net loss with lower expenses and higher investment income across projects.
Feb 13	Quarterly earnings	Neutral	-1.8%	Financial results for December 2023 period with recurring net losses reported.

Pattern Detected

Earnings releases have usually coincided with mild negative next-day moves, with only one notably positive reaction in the past five similar announcements.

Recent Company History

Recent earnings releases show New Pacific reporting recurring net losses but maintaining solid working capital and steadily funding Silver Sand, Carangas, and Silverstrike. Prior updates on December 31, 2024 and March 31, 2025 highlighted reduced operating expenses and sizeable project balances exceeding $114M. A November 2025 earnings release paired financials with a financing and leadership changes, drawing a double‑digit gain. Today’s results, with higher working capital and continued project capitalization, extend this pattern of funding and advancing Bolivian assets.

Historical Comparison

earnings

-0.5 %

Average Historical Move

Historical Analysis

Past five earnings releases saw an average move of about -0.5%, mostly mild declines. Today’s +5.29% reaction to earnings stands out as notably stronger than typical.

Typical Pattern

Across recent earnings, New Pacific has reported recurring but gradually improving losses, maintained double‑digit million working capital, and consistently capitalized Silver Sand, Carangas, and Silverstrike, building a project base above $114M and now over $118M.

Market Pulse Summary

This announcement details Q2 and six‑month 2026 results, highlighting a net loss but strong $41M wor...

Analysis

This announcement details Q2 and six‑month 2026 results, highlighting a net loss but strong $41M working capital and ongoing capitalized spending at Silver Sand, Carangas, and Silverstrike, now totaling over $118M. Compared with prior earnings, operating expenses remain contained and project investment continues. Investors may focus on trends in net losses, FX impacts, and project balances, along with Bolivia’s evolving mining framework, as key metrics and developments to track in upcoming quarters.

Key Terms

md&a

1 terms

md&a regulatory

"This news release should be read in conjunction with the Company's management discussion and analysis (the "MD&A")"

Management’s Discussion and Analysis (MD&A) is a section of a company’s financial filing where executives explain recent results, the reasons behind changes, risks faced, and expectations for the future in plain language alongside the numbers. Investors use it like an owner’s narrative to understand the story behind the raw financial data — what drove performance, potential pitfalls, and management’s plans — helping judge whether the company’s numbers are likely to improve or worsen.

AI-generated analysis. Not financial advice.

VANCOUVER, BC, Feb. 11, 2026 /PRNewswire/ - New Pacific Metals Corp. ("New Pacific" or the "Company") reports its financial results for the three and six months ended December 31, 2025. All figures are expressed in US dollars unless otherwise stated.

FISCAL 2026 Q2 HIGHLIGHT

• In November 2025, Bolivia initiated a shift to a market-oriented economic model following a change in government. The new administration has pledged to modernize existing mining laws, aiming to reduce bureaucracy, strengthen legal certainty, combat illegal mining, and attract foreign investment. The Company is actively socializing its projects with the new government at all levels.

FINANCIAL RESULTS

Net loss attributable to equity holders of the Company for the three and six months ended December 31, 2025 was $1.58 million or $0.01 per share and $2.33 million or $0.01 per share, respectively (the three and six months ended December 31, 2024 – net loss of $0.74 million or $0.00 per share and $2 million or $0.01 per share, respectively). The Company's financial results were mainly impacted by the following items:

•  Working Capital: As of December 31, 2025, the Company had working capital of $41 million.
  
  
• Operating expenses for the three and six months ended December 31, 2025 were $1.47 million and $2.79 million, respectively (the three and six months ended December 31, 2024 - $1.59 million and $3.20 million, respectively).
  
  
• Income from investments for the three and six months ended December 31, 2025 were $0.31 million and $0.42 million, respectively (the three and six months ended December 31, 2024 – $0.19 million and $0.44 million).
  
  
•  Foreign exchange (loss) gain for the three and six months ended December 31, 2025 was $(0.42) million and $0.04 million, respectively (the three and six months ended December 31, 2024 – $0.64 million and $0.74 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		-		-		765
Drilling and assaying		-		-		589		589
Project management and support		720,428		301,217		31,370		1,053,015
Camp service		377,024		62,953		11,332		451,309
Permit and license		3,412		24,252		-		27,664
Value added tax receivable		79,457		7,939		798		88,194
Foreign currency impact		(56,687)		(16,820)		(4,145)		(77,652)
Balance, December 31, 2025	$	91,705,268	$	21,733,392	$	5,039,589	$	118,478,249

SILVER SAND PROJECT

For the three and six months ended December 31, 2025, total expenditures of $0.67 million and $1.18 million, respectively (three and six months ended December 31, 2024 - $0.42 million and $0.94 million, respectively) were capitalized under the project.

CARANGAS PROJECT

For the three and six months ended December 31, 2025, total expenditures of $0.22 million and $0.40 million, respectively (the three and six months ended December 31, 2024 - $0.39 million and $0.75 million, respectively) were capitalized under the project.

SILVERSTRIKE PROJECT

For the three and six months ended December 31, 2025, total expenditures of $0.03 million and $0.04 million, respectively (the three and six months ended December 31, 2024 - $0.01 million and $0.03 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-pacific-reports-financial-results-for-the-three-and-six-months-ended-december-31-2025-302685761.html

SOURCE New Pacific Metals Corp.

FAQ

What was New Pacific's net loss for the three months ended December 31, 2025 (NEWP)?

The company reported a net loss of $1.58 million for the three months ended December 31, 2025. According to the company, this compares with a net loss of $0.74 million for the same period in 2024.

How much working capital did New Pacific (NEWP) have at December 31, 2025?

New Pacific reported $41.0 million of working capital at December 31, 2025. According to the company, this position supports ongoing project activity and near-term corporate obligations.

What change did Bolivia announce and how does it affect New Pacific (NEWP)?

Bolivia initiated a shift to a market-oriented model in November 2025; the company is engaging with officials. According to the company, the new policy aims to modernize mining laws and attract foreign investment.

What were New Pacific's capitalized project costs at December 31, 2025 (NEWP)?

Capitalized exploration and project costs across Silver Sand, Carangas and Silverstrike totaled $118.48 million at December 31, 2025. According to the company, balances reflect multi-period capital spending and currency impacts.

How did project expenditures change for Silver Sand and Carangas in Q2 2026 for New Pacific (NEWP)?

Silver Sand capitalized $0.67M in Q2 and Carangas capitalized $0.22M in Q2 2026. According to the company, Silver Sand spending rose while Carangas spending declined versus the prior-year quarter.