Disclaimer

Last modified on February 18, 2021.

New Pacific Metals Corp. (“New Pacific” or the “Company”) updates the information on this website and its various social media channels, including, but not limited to Twitter, Instagram, LinkedIn and Facebook (collectively, this “Site”) from time to time. However, such information is not intended to be a comprehensive review of all matters and developments concerning the Company and the Company cannot guarantee the accuracy, currency or completeness of the information at all times and assumes no responsibility in this regard, expect as otherwise required by law.

The technical information contained in the Site has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration of New Pacific and a Qualified Person for the purposes of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure of Mineral Projects (“NI 43-101”).

This Site and the information contained herein do not constitute an offer or a solicitation of an offer for sale of any securities. None of the information contained herein is intended to be, and shall not be deemed to be, incorporated into any of the Company’s or its affiliates’ securities-related filings or documents.

Cautionary Note on Forward-Looking Statements

Except for statements of historical fact relating to New Pacific Metals Corp. (the “Company” or “New Pacific”), 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 anticipated exploration, drilling, development, construction, and other activities or achievements of the Company; timing of receipt of permits and regulatory approvals; anticipated contents and timing of the preliminary economic assessment (“PEA”); and estimates of the Company’s revenues and capital expenditures.

Forward-looking statements are based on the opinions and estimates 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 global economic and social impact of COVID-19; 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 under section 4.2 “Risk Factors” in the 2022 Annual Information Form. 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 the 2022 Annual Information Form 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: the duration and effects of COVID-19 on our operations and workforce; 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 (“MPC”) by the Plurinational Legislative Assembly of Bolivia; the ability of the Company’s Bolivian partner to convert the exploration licenses at the Carangas Project to an administrative mining contract (“AMC”); 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.

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 anticipated exploration, drilling, development, construction, and other activities or achievements of the Company; timing of receipt of permits and
regulatory approvals; anticipated contents and timing of the preliminary economic assessment (“PEA”); and estimates of the Company’s revenues and capital expenditures. Forward-looking statements are based on the opinions and estimates 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 global economic and social impact of COVID-19; 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 under section 4.2 “Risk Factors” in the 2022 Annual
Information Form. 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 the 2022 Annual Information Form 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: the duration and effects of COVID-19 on our operations and workforce;
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 (“MPC”) by the Plurinational Legislative
Assembly of Bolivia; the ability of the Company’s Bolivian partner to convert the exploration licenses at
the Carangas Project to an administrative mining contract (“AMC”); 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 Site 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 Site 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 the 2022 Annual Information Form.

Although the forward-looking statements contained in this Site 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 Site 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 the 2022 Annual Information Form.

Cautionary Note to U.S. Investors and concerning estimates of Measured, Indicated and Inferred Resources

This Site has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of the United States of America (“U.S.” or “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 U.S. Securities and Exchange Commission (the “SEC”) under subpart 1300 of Regulation S-K (the “SEC Modernization Rules”). The Company is not currently subject to the SEC Modernization Rules. Accordingly, the Company’s disclosure of mineralization and other technical information herein may differ significantly from the information that would be disclosed had the Company prepared such information under the standards adopted under the SEC Modernization Rules.

Readers are cautioned not to assume that all or any part of mineral resources will ever be converted into reserves. Pursuant to Canadian Institute of Mining Definition Standards on Mineral Resources and Reserves (the “CIM Standards”), inferred mineral resources are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.

Non-IFRS Measures

This Site and the materials posted on it may include certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including, but not limited to, “cash operating costs” and “all-in sustaining costs”. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with the Company’s consolidated financial statements. Readers should refer to the Company’s most recently filed Management Discussion & Analysis, available under the Company’s corporate profile at www.sedar.com or on the Site, for a more detailed discussion of how the Company calculates such measures and a reconciliation of certain measures to IFRS terms.

SOCIAL MEDIA LEGAL DISCLAIMER

Last modified on January 5, 2021

PLEASE READ THIS AGREEMENT (“AGREEMENT”) CAREFULLY BEFORE USING THE SOCIAL MEDIA CHANNELS (AS DEFINED BELOW). BY USING THE SOCIAL MEDIA CHANNELS, YOU ACKNOWLEDGE THAT YOU HAVE READ AND UNDERSTAND THIS AGREEMENT, AND THAT YOU AGREE TO BE BOUND BY ITS TERMS AND CONDITIONS.

New Pacific Metals Corp. uses various social media channels, including, but not limited to Twitter, Instagram, LinkedIn and Facebook (collectively, the “Social Media Channels”). Any reference herein to the Social Media Channels includes any application(s) therein. All users of the Social Media Channels must comply with the applicable Social Media Channels’ terms of use and other policies, as well as this Agreement. Please carefully review such terms and polices.

New Pacific Metals Corp. and its affiliates, subsidiaries or related entities, and their successors and assigns, and all of their respective directors, officers and employees, (collectively, “New Pacific” or the “Company”) are not liable for any errors or omissions contained on the Social Media Channels, including all text, images, videos, audio clips, software, information in all forms, text, logos, graphics, other data, elements, or information contained therein (collectively, the “Content”), or for any loss or damages suffered as a result of any Content appearing on the Social Media Channels. The Content is not intended to provide a comprehensive review of all matters and developments concerning the Company. The Content is current as of the date indicated and, except as required by applicable law, the Company does not guarantee the accuracy, currency or completeness of such information.

The Content is provided for informational purposes only, and does not constitute financial, legal, tax, investment or other advice. This Social Media Channels and the Content posted on it do not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company and any representation to the contrary would be unlawful.

The Company is not responsible for and assumes no liability with respect to anything posted to the Social Media Channels by third parties (the “User Content”) and makes no representation or warranty with respect to such User Content, including with respect to the accuracy or completeness of information therein. The views expressed on the Social Media Channels do not necessarily represent or reflect the views of the Company. The Company is not responsible for and assumes no liability for any User Content.

Social Media Engagement Guidelines

Twitter

New Pacific’s Twitter account provides short updates, links and other information with the latest from the Company. We ask that you adhere to the following engagement guidelines, so we can make the most of our Twitter experience.

· All official communication from New Pacific will come from the official Twitter handle “@newpacific_”.

· When communicating to us via Twitter, please use “@mention”, so we are notified of your message.

LinkedIn

New Pacific’s LinkedIn account provides company updates as well as relevant information pertaining to our business and industry. All official communication from New Pacific will come from the official LinkedIn Company page, New Pacific Metals Corp.

Social Media Terms of Use

We encourage dialogue with investors on Twitter and LinkedIn. However, the following provisions apply to each user who uses or participates on the Social Media Channels. You (and your parent/legal guardian if you are under the age of majority in your jurisdiction of residence) agree to be bound by the following:

· You will not post any User Content that may be inappropriate, abusive or otherwise offensive, and any such User Content must not contain, depict or involve (without limitation) any content that: (i) is unlawful, harmful, threatening, abusive, harassing, tortious, defamatory, vulgar, obscene or otherwise contains offensive language; (ii) impersonates any person or entity, or falsely states or otherwise misrepresents your affiliation with a person or entity; (iii) contains any derogatory characterizations of any ethnic, racial, gender, professional, age or religious groups; (iv) endorses or condones any illegal, inappropriate or risky activity or behavior or any particular political agenda or message; (v) defames, misrepresents or contains disparaging remarks about other people, products or companies, including the Company; (vi) endorses any form of hate or hate group; (vii) communicates message or images inconsistent with the positive images or goodwill to which the Company wishes to associate; (viii) is invasive of another’s privacy; (iv) is not backed by a reputable source; or (v) is or could be considered illegal or unsuitable, all as determined by the Company in its sole discretion.

· You will not post or submit any User Content that contains third party materials unless you have first obtained consent from the owner of such materials. By posting or submitting User Content to the Social Media Channels you represent and warrant to the Company as follows: (i) you have obtained and are solely responsible for obtaining all consents as may be required by law to post any User Content relating to third parties; (ii) you have the right to share the material in your User Content and no User Content infringes, misappropriates or violates the rights (including, without limitation, any intellectual property rights) of any person or entity or any applicable law, rule or regulation of any government authority; (iii) your User Content and the Company’s use thereof as contemplated hereby does not violate any contract, law, rule or regulation of any government authority; (iv) the Company may exercise the rights to your User Content without liability for payment of any fees or royalties payable; and (v) to the best of your knowledge, all User Content and other information that you provide to us is truthful and accurate.

· You will not post or submit any personal information about yourself or third parties or disclose any financial information pertaining to yourself or others on the Social Media Channels.

· You will not post or submit any User Content that contains software viruses, or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment.

· You (and your parent/legal guardian if you are under the age of majority in your jurisdiction of residence), hereby agree: (i) to release, and hold harmless the Company from and against any and all claims based on any User Content, including (without limitation) claims based on publicity rights, defamation, invasion of privacy, copyright infringement, trade-mark infringement or any other intellectual property related cause of action; (ii) to defend, indemnify and hold harmless the Company from all liabilities, claims and expenses (including reasonable legal fees) that arise out of or are related to any User Content that you transmit or make available through the Social Media Channels or your violation of this Agreement, including your violation of any third-party rights; (iii) that the Social Media Channels and all Content provided by the Company thereon are provided “as is”; (iv) that use of the Social Media Channels and the Content is entirely at your own risk; and (v) that you have read and understand the Company’s legal disclaimer and terms of use posted on its website at https://staging.newpacificmetals.com/disclaimer and https://staging.newpacificmetals.com/terms-of-use, respectively, and that the provisions of such disclaimer and terms of use apply to all Content and User Content, as applicable.

· The Company, in its sole discretion, reserves the right to remove any materials that are deemed to contain advertisements, “spam”, “junk mail” or other form of solicitation content, or references to other websites and to limit who can reply to posts on the Social Media Channels, and we may, from time-to-time, delete posts or pages on the Social Media Channels without notification, including, without limitation, posts that do not adhere to this Agreement.

License Granted by User

By providing or posting any User Content on the Social Media Channels, you: (i) grant to the Company a world-wide, perpetual, permanent, transferable, royalty-free, non-exclusive, and unrestricted license to use, copy, reproduce, adapt, transmit, edit, modify, or otherwise display, distribute, publish, translate and create compilations from (in any format or media), the User Content, with or without attribution, and for any purpose, including commercial purposes; and (ii) waive all moral rights in all User Content that you submit to the Social Media Channels in favour of the Company and those authorized by the Company to use such User Content.

Disclaimer

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