Nova Pacific Drills 16.2m @ 3.2 g/t AuEq and 17.64m @ 1.92 g/t AuEq from First Assay Results at Lara VMS Project on Vancouver Island, B.C.

Rhea-AI Summary

Nova Pacific Metals (OTCQB: NVPCF) has reported significant drilling results from its Lara VMS Project on Vancouver Island, B.C. The company announced impressive intersections from its first four holes, including 16.2m grading 3.3 g/t AuEq and 17.64m grading 1.92 g/t AuEq.

The ongoing 8,700-meter exploration campaign has completed 38 holes totaling over 8,000 meters at the Coronation area. The company is awaiting results from 7 additional holes and plans to deliver a mineral resource estimate in Q4 2025. The project spans a 17-km belt within the McLaughlin Ridge Formation, correlative with the volcanic package hosting the past-producing Myra Falls VMS Mine.

Positive

• Strong initial drilling results with high-grade intersections including 16.2m @ 3.3 g/t AuEq
• 38 of planned 8,700-meter drilling program already completed
• Mineral Resource Estimate targeted for Q4 2025
• Project location in proven mining district near past-producing Myra Falls VMS Mine
• All four initial drillholes successfully intersected mineralization

Negative

• Four holes were abandoned due to challenging drilling conditions
• Historical mineral resource estimate not compliant with current NI 43-101 standards

Vancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) ("Nova Pacific" or the "Company") is pleased to report assays from the first four holes, totaling 582 metres ("m"), of its ongoing 8,700-m exploration drilling campaign at the Coronation area of its Lara VMS Project on Vancouver Island. The Lara Project spans a 17-km belt of the McLaughlin Ridge Formation, which is correlative with the volcanic package that hosts the past-producing Myra Falls VMS Mine, 140 km to the northwest.

Highlights:

• Hole NP25-004 intersected 16.2 m grading 3.3 g/t AuEq or 8.55% ZnEq (1.5 g/t Au, 2.17% Zn, 53.5 g/t Ag, 0.42% Cu, 0.52% Pb) from 85 m downhole, including 11.1 g/t AuEq or 26.37% ZnEq (7.6 g/t Au, 2.51% Zn 58.0 g/t Ag, 1.70% Cu, and 0.81% Pb)

• Hole NP25-001 intersected 17.64 m grading 1.92 g/t AuEq or 4.28% ZnEq (0.7 g/t Au, 1.25% Zn, 17.7 g/t Ag, 0.29% Cu, 0.18% Pb) from 86.6 m downhole

• Hole NP25-002 intersected 9.0 m grading 2.1 g/t AuEq or 5.32% ZnEq (0.9 g/t Au, 1.30% Zn, 28.3 g/t Ag, 0.36% Cu, 0.19% Pb) from 84.75 m downhole
  
  (All intervals are down-hole lengths. True width estimated at 86-88% based upon historical data. AuEq and ZnEq are provided for illustrative purposes only. See Table 1, footnote 4 for calculation parameters)

• Drilling is ongoing with assays pending from 7 additional holes (1,250 m)

• Mineral resource estimate targeted for Q4/2025

Sam Eskandari, CEO, commented, "We're excited by the initial results from the first four holes—each intersected mineralization, including several intervals enriched with precious metals. These early results are validating our exploration model and are consistent with historical drilling in this portion of the Coronation deposit, reinforcing our confidence in the dataset we're working to verify. That same dataset supported a historical mineral resource, as described in our news release, and we remain on track to deliver a current MRE later this year."

"While much of the remaining program at Coronation will focus on verification, we're also stepping out to test down-plunge extensions that could potentially grow the deposit. Coronation is just one of many targets within our 17-km long VMS belt, which remains underexplored despite its position in the highly prospective McLaughlin Ridge Formation, a volcanic sequence correlative to the rocks that hosts the past-producing Myra Falls VMS Mine."

Assays Pending from 7 holes (1,250 m)

Assay results from 7 submitted drillholes are pending and will be released once received and validated under the Company's QA/QC protocols. Geologists from continues to log core, collect samples for assaying, and capture valuable lithological and structural data to support ongoing interpretation, drill targeting, and potential resource definition.

Drilling is Ongoing

As of 20 June 2025, 38 holes totaling more than 8,000 metres (m) have been drilled at the Coronation area as part of Nova Pacific's 8,700-m Phase 1 exploration program, with 34 holes completed and four holes abandoned due to challenging conditions. Approximately 700 m of drilling across two holes remain to be completed.

As summarized in Table 1 near the end of this release, all four of the initial drillholes intersected mineralization, including several intervals with notable precious metals content. These collars are located near the northwestern end of the 1.5 km Coronation trend outlined by historical drilling. These holes were designed to confirm the spatial extents of the Hanging Wall ("HW") zone, which overlies part of the main Coronation horizon, and to collect samples for assay. All holes intersected the Coronation zone near the predicted depths. NP25-001 and NP25-002 also encountered the HW zone where expected, while NP25-003 and NP25-004 confirmed the Company's interpretation of the HW zone's southeastern extent.

While still early in the program, these results appear to validate the Company's exploration model and are generally consistent with historical drilling in this portion of the Coronation deposit. This provides encouraging support for the verification of the historical dataset.

Figure 1 is a map of the Coronation area of the Lara Project, including all drillholes completed to date, also showing all historical collars, and those planned as part of the ongoing Phase 1 exploration program. Figure 2 identifies the drillholes reported in this release. Figure 3 presents a geologic cross-section of these results, with intervals from Table 1 plotted for illustrative purposes. Figure 4 is an isometric 3D view of the Company's exploration-model wireframes, also illustrating Table 1 intervals. Table 1 summarizes all assay results disclosed herein, and Table 2 provides collar information for the reported drillholes.

Step-out Holes Added to Target Down-Plunge Extensions

While the Phase 1 program is focused on verification drilling to support a current mineral resource estimate, six step-out holes are targeting down-plunge extensions of previously intersected mineralization based upon a new structural interpretation developed by the Company's technical team.

Current Mineral Resources Estimate Targeted for Q4/2025

The Phase 1 exploration program is intended to verify up to 39,092 m of historical drilling across 245 holes in the Coronation area of the Lara Project, which previously supported a historical mineral resource estimate. The Company cautions that the historical estimate for Coronation area is not a current mineral resource or reserve under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), as a "qualified person" ("QP") has not done sufficient work to classify it as such, and it should not be relied upon. The Company intends to verify historical drilling data through its Phase 1 exploration program to support a current mineral resource estimate targeted for Q4 2025, subject to successful exploration drilling and the timely receipt of final assay results. In anticipation of this, Mineit Consulting Inc., has been engaged to prepare an updated technical report for the Lara Project, under the supervision of Greg Mosher, M.Sc., P.Geo.

Advancing Lara's Regional Exploration Potential Through Evaluation of Additional Targets

Coronation is just one of several high-priority targets within Nova Pacific's 17-kilometre VMS belt on Vancouver Island. The belt lies within the prospective McLaughlin Ridge Formation, a correlative volcanic sequence that hosts the past-producing Myra Falls VMS Mine, and remains underexplored despite favourable geology and nearby infrastructure. The Lara Project spans 19 mineral claims covering 47 square kilometres, with an unverified historical dataset that includes 323 drillholes totalling 58,262 m of drilling.

Although the Coronation area has attracted most of the historical work, Nova Pacific has begun evaluating six additional mineralized zones across the property, many of which contain historical drill holes. These zones are largely untested and form a key part of the Company's strategy to define resources at the Lara Project beyond the Coronation area. Field programs, including mapping, systematic sampling, and historical data compilation, will be used to refine targets and support future drilling. The potential for lens stacking and stratigraphic clustering, characteristic of VMS camps, further strengthens the broader exploration thesis.

Sampling, Quality Assurance and Quality Control

All drill core is logged by a geologist, photographed, and cut in half at Nova Pacific's core facility near Nanaimo, British Columbia. One half of the core is bagged and sent to ALS Canada Ltd. (ALS) in North Vancouver for analysis, while the other half is retained on site as a witness sample. ALS North Vancouver is ISO/IEC 17025 accredited, and all samples are analyzed using industry-standard fire assay, multi-element ICP methods following four-acid digestion, and, where applicable, overlimit assays for high-grade. In addition to the laboratory's QA/QC practices, certified reference materials, blanks, and duplicates are inserted into the sample stream at regular intervals to monitor analytical accuracy. Only results that meet Nova Pacific's QA/QC protocols are reported.

Qualified Person

The pertinent scientific and technical information contained in this news release has been reviewed and approved by David Nelles, P.Geo., Jeremy Link, M.Eng., P.Eng., and Greg Mosher, M.Sc., P.Geo. of Mineit Consulting Inc., each of whom is a consultant of the Company and a "qualified person" as defined by NI 43-101. Exploration and technical programs at the Lara Project are managed by Mr. Link and Darcy Vis, P.Geo., of Tripoint Geological Services Ltd.

Rights of Indigenous Communities Statement

Nova Pacific Metals recognizes the inherent rights of all Indigenous Peoples of Canada and is committed to early, meaningful, and respectful engagement with First Nations communities. The Company acknowledges that its Lara Project is located on the Traditional, Ancestral, and Unceded Territories of the Hul'qumi'num Treaty Group, a politically unified group representing six Hul'qumi'num-speaking First Nations: Cowichan, Stz'uminus, Penelakut, Lyackson, Halalt, and Lake Cowichan.

Nova Pacific pursues early consultation and meaningful engagement with First Nations communities to ensure that the Company's mineral exploration and development activities are aligned with local priorities, values, and cultural protocols, while optimizing opportunities for collaboration. In particular, the Company seeks to establish mutually beneficial partnerships with Indigenous groups within whose traditional territories the Company's projects are located. All work programs are carefully planned to achieve high levels of environmental and social performance, while advancing reconciliation and economic opportunities within Indigenous communities.

About Nova Pacific

Nova Pacific is a Canadian exploration and development company focused on the Lara Volcanogenic Massive Sulfide (VMS) Project on Vancouver Island, British Columbia. Nova Pacific holds an option to acquire a 100% interest in the Lara Project. The project hosts a significant historical resource, rich in critical and precious metals situated in a prime location near excellent infrastructure. Nova Pacific’s forward-looking strategy includes verification and exploration drilling and the completion of an updated mineral resource estimate (MRE), with additional technical and exploration studies to be considered following these milestones. The Company is committed to creating value for its shareholders while supporting environmental responsibility and strong community relationships.

For additional information please visit: www.novapacificmetals.com

On behalf of the Board of Directors

Sam Eskandari, CEO

For investor inquiries, or for further information, please contact:

Nova Pacific Metals Corp.

info@novapacificmetals.com

+1-416-918-6785

The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.

Forward-Looking Information

Certain statements contained in this news release may constitute forward‐looking information including, without limitation, statements regarding the Company's exploration plans. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. The Company's actual results could differ materially from those anticipated in this forward‐looking information.

Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans; statements regarding exploration results, potential mineralization, the potential to expand mineralization through step-out drilling targeting down-plunge extensions, or verification of historical drilling results; the success of the new structural model in guiding exploration and identifying new mineralization; the Company's plans to execute and complete its Phase 1 exploration program including the completion of a current mineral resource estimate; exploration and mine development plans; statements regarding regional exploration potential and the ability to develop exploration targets, drill targets, and define resources; the establishment of mutually beneficial partnerships with Indigenous communities; and the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to intersect potentially economic intervals of mineralization; uncertainties related to the geological continuity, potential mineralization, and extent of down-plunge mineralization, which may not yield economically viable results; uncertainties in the accuracy of the new structural model, which may not accurately predict mineralization locations or continuity; additional mineralized zones may not contain economically viable mineralization due to geological complexity or insufficient drilling data; risks that historical drilling data may be incomplete, inaccurate, or insufficient to support a current mineral resource estimate; delays in assay processing or data validation issues; failure to identify mineral resources; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; inability to fulfill the duty to accommodate First Nations and other Indigenous peoples; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates; and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

Table 1: Lara VMS Project - Coronation area assay results in this release

Drillhole	From	To	Interval	True Width (m)	AuEq	ZnEq	Au	Zn	Ag	Cu	Pb	Section
ID	(m)	(m)	(m)		(g/t)	(%)	(g/t)	(%)	(g/t)	(%)	(%)	Line
NP25-001	26.67	28.7	2.03	1.7	0.7	1.65	0.5	0.02	17.7	0.03	0.03	W1
and	38.7	42.7	4	3.5	0.8	1.23	0.4	0.12	9.4	0.01	0.05
and	86.86	104.5	17.64	15.4	1.9	4.28	0.7	1.25	17.7	0.29	0.18
NP25-002	28	30	2	1.7	0.9	1.59	0.4	0.15	20	0.02	0.09	W1
and	84.75	93.75	9	7.9	2.1	5.32	0.9	1.3	28.3	0.36	0.19
NP25-003	73.18	75.18	2	1.8	1.5	4.05	0.7	1.29	14	0.21	0.43	W1
NP25-004	85	101.2	16.2	14.1	3.3	8.55	1.5	2.17	53.5	0.42	0.52	W1
including	98	99	1	0.9	11.1	26.39	7.6	2.51	58	1.7	0.81

 

1. Intervals are reported over a minimum downhole length of 2 m at a minimum length-weighted grade of 0.5 g/t AuEq, allowing for up to 2 m of consecutive internal dilution below cut-off.
2. High-grade intercepts reported as any continuous interval with grades greater than 10 g/t AuEq. No assays were capped.
3. Interval refers to down-hole lengths. True width is estimated to be between 86% and 88% of interval based upon drilling historical data.
4. AuEq (gold equivalent) and ZnEq (zinc equivalent) are provided for illustrative purposes. AuEq and ZnEq combine gold, zinc, silver, copper, and lead, with secondary metals calculated net of assume metallurgical recoveries using deposit-average recovery assumptions provided by Mineit Consulting Inc. of 86% for gold, 73% for zinc, 84% for silver, 95% for copper, and 96% for lead. Metal prices reflect three-year trailing averages of $2,200/oz gold, $1.25/lb Zn, $25.50/oz silver, $3.95/lb copper, and $0.95/lb lead. The resultant AuEq formula is AuEq [g/t] = Au [g/t] + 1.168 × Cu [%] + 0.285 × Pb [%] + 0.285 × Zn [%] + 0.0097 × Ag [g/t]. The resulting ZnEq formala is ZnEq [%] = Zn [%] + 1.223 × Cu [%] + 0.391 × Pb [%] + 0.034 × Au [g/t] + 0.0077 × Ag [g/t].

Table 2: Lara VMS Project - Drillhole collar reported in this release (EPSG:3157)

Drillhole	Easting	Northing	Length	Azimuth	Dip	Line
ID	(m)	(m)	(m)	(°)	(°)
NP2025-001	433,376	5,414,986	192	210	-60	W1
NP2025-002	433,421	5,414,959	138	210	-60	W1
NP2025-003	433,503	5,414,907	117	210	-60	W1
NP2025-004	433,624	5,414,858	135	210	-60	W1

 

Figure 1: Lara VMS Project - Coronation area Phase 1 drilling locations

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Figure 2: Lara VMS Project - Coronation area Phase 1 results reported in this release

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Figure 3: Lara VMS Project - Geological section looking N030°

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Figure 4: Lara VMS Project - 3D Isometric of Coronation area drillholes in this release looking N286°

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256587

FAQ

What were the key drilling results from Nova Pacific's (NVPCF) Lara Project?

The key results included 16.2m grading 3.3 g/t AuEq from hole NP25-004 and 17.64m grading 1.92 g/t AuEq from hole NP25-001, with all four initial holes successfully intersecting mineralization.

When will Nova Pacific (NVPCF) release its mineral resource estimate for the Lara Project?

Nova Pacific is targeting Q4 2025 for the release of its mineral resource estimate, pending successful exploration drilling and timely receipt of final assay results.

How many drill holes has Nova Pacific completed at the Lara Project?

As of June 20, 2025, Nova Pacific has completed 34 holes and abandoned 4 holes, totaling more than 8,000 meters of the planned 8,700-meter Phase 1 exploration program.

Where is Nova Pacific's (NVPCF) Lara VMS Project located?

The Lara VMS Project is located on Vancouver Island, B.C., spanning a 17-km belt of the McLaughlin Ridge Formation, near the past-producing Myra Falls VMS Mine.

How many additional drill hole results are pending for Nova Pacific's Lara Project?

Nova Pacific has 7 additional drill holes (1,250 meters) with assays pending, which will be released once received and validated under the company's QA/QC protocols.