New Pacific Annual General And Special General Meeting On November 13, 2015

Press Release

VANCOUVER, BRITISH COLUMBIA – October 29, 2015: NEW PACIFIC METALS CORP. (“New Pacific” or the “Company”) is pleased to announce that it will hold its annual general and special general meeting of its shareholders on November 13, 2015, (the “AGM”).

In light of the poor current state of the mineral exploration business and the depressed prices of silver and gold, and given the expertise and skill sets of the members of the board and management of the Company, the Company believes that the ideal allocation of the Company’s working capital would be within the framework of an investment company making investments in privately held and publicly traded corporations.  For those reasons, management and the board have proposed that the Company undergo a change of business from a mining issuer, listed on the TSX to an investment issuer (the “Change of Business”). The Change of Business is subject to TSX approval and likely other stock exchange approvals if the Company does not meet TSX listing requirements after the Change of Business.

To better reflect the Company’s proposed Change of Business, management has proposed a change of name of the Company to “New Pacific Investment Corp.” or such other name as the Board may determine is appropriate (the “Name Change”).

As such, at the AGM the Company will be asking its shareholders to approve the following:

1. to consider and, if deemed advisable, to pass, with or without variation, an ordinary resolution (the full text of which is reproduced in the management information circular mailed to the Company shareholders) authorizing and approving a change of the Company’s business from a mining issuer engaged in mineral exploration to an investment issuer engaged in investing in privately held and publicly traded corporations;
2. to consider and, if deemed advisable, to pass, with or without variation, a special resolution (the full text of which is reproduced in the management information circular mailed to the Company shareholders) authorizing and approving an amendment to the articles of the Company to change the name of New Pacific Metals Corp. to “New Pacific Investment Corp.”, or another available name;
3. to receive the audited financial statements of the Company for the year ended June 30, 2015, together with the report of the auditor thereon;
4. to fix the number of directors at five (5);
5. to elect directors for the ensuing year; and
6. to re-appoint Deloitte LLP, Chartered Accountants, as auditor for the Company for the ensuing year and to authorize the directors to fix the auditor’s remuneration.

The AGM will be held at Suite 1378-200 Granville Street, Vancouver, British Columbia, Canada V6C 1S4 on Friday, November 13, 2015 at the hour of 10:00 a.m. (Vancouver time).

ABOUT NEW PACIFIC

New Pacific is a Canadian gold and silver exploration and development company which owns the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.

For further information, contact:

New Pacific Metals Corp.,
Investor Relations
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

BC2