New Pacific Metals Corp. Appoints John McCluskey as new Director and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 1, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

New Pacific Metals Corp. ("New Pacific" or the "Company") (TSX VENTURE:NUAG) is pleased to announce the appointment of John McCluskey to its Board of Directors.

Mr. McCluskey is President and Chief Executive Officer of Alamos Gold Inc., formed through a merger between AuRico Gold and Alamos Gold in 2015. He originally co-founded Alamos with mining hall of famer Chester Millar in 2003. Mr. McCluskey also founded Grayd Resource Corporation in 1996 and was President and CEO until 2003. He has a wealth of experience in finance and mergers and acquisitions. Mr. McCluskey was named Ontario's 2012 Ernst & Young Entrepreneur Of The Year, based on a judging panel's assessment of financial performance, vision, leadership, innovation, personal integrity and influence, social responsibility, and entrepreneurial spirit.

Stock Option Grants

Subject to regulatory approval the Company has granted an aggregate of 1,965,000 incentive stock options to employees, consultants and directors of the Company, including 1,590,000 to insiders. The stock options are exercisable at $1.15 for a period of five years, with one sixth vesting every six months over a 36 month vesting period. 

About New Pacific

New Pacific Metals Corp. is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China. Silvercorp Metals Inc. (TSX:SVM), the largest primary silver producer in China, is the major shareholder.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.