Pan American Silver (NEWP) discloses 11.47% ownership in New Pacific Metals

Rhea-AI Filing Summary

Pan American Silver Corp reports beneficial ownership of 21,071,264 common shares of New Pacific Metals Corp., representing 11.47% of the class based on 183,736,205 shares outstanding as of November 7, 2025. Pan American Silver has sole power to vote and dispose of all these shares, with no shared voting or dispositive power reported. The filing is made on a Schedule 13G/A, indicating passive ownership of more than 5% of New Pacific Metals' common shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

New Pacific Metals Corp.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

64782A107

(CUSIP Number)

10/21/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 64782A107

1

Names of Reporting Persons

Pan American Silver Corp

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 21,071,264.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 21,071,264.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

21,071,264.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Percent of Aggregate amount beneficially owned is calculated based on 183,736,205 Common Shares of New Pacific Metals Corp. issued and outstanding as of November 7, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: New Pacific Metals Corp.
(b)	Address of issuer's principal executive offices: Suite 1750-1066 W. Hastings Street,, Vancouver, A1, V6E 3X1
Item 2.
(a)	Name of person filing: Pan American SIlver Corp.
(b)	Address or principal business office or, if none, residence: 2100-733 Seymour Street, Vancouver, British Columbia, Canada V6B 0S6
(c)	Citizenship: Canada
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 64782A107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 21,071,264
(b)	Percent of class: 11.47 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 21,071,264
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 21,071,264
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Pan American Silver Corp

Signature:	"Delaney Fisher"
Name/Title:	Delaney Fisher, SVP Associate General Counsel & Corporate Secretary
Date:	01/06/2026

FAQ

How many New Pacific Metals (NEWP) shares does Pan American Silver own?

Pan American Silver Corp beneficially owns 21,071,264 common shares of New Pacific Metals Corp. according to the Schedule 13G/A.

What percentage of New Pacific Metals (NEWP) does Pan American Silver hold?

Pan American Silver reports beneficial ownership of 11.47% of New Pacific Metals' outstanding common shares.

Does Pan American Silver have sole or shared voting power over its NEWP shares?

Pan American Silver has sole voting power over 21,071,264 shares and no shared voting power in New Pacific Metals.

What dispositive power does Pan American Silver report over NEWP shares?

Pan American Silver reports sole dispositive power over 21,071,264 New Pacific Metals common shares and no shared dispositive power.

On what share count is Pan American Silver’s 11.47% NEWP stake based?

The reported 11.47% ownership is based on 183,736,205 New Pacific Metals common shares issued and outstanding as of November 7, 2025.

What type of SEC filing discloses Pan American Silver’s stake in NEWP?

Pan American Silver’s ownership in New Pacific Metals is disclosed in an amended Schedule 13G/A, a filing for holders of more than 5% of a class of securities.