VANCOUVER, British Columbia, Sept. 29, 2023 (GLOBE NEWSWIRE) — New Pacific Metals Corp. (TSX: NUAG; NYSE American: NEWP) (" New Pacific " or the " Company ") announced today that it has closed (the " Closing ") the bought deal financing that was previously announced on September 25, 2023. A total of 13,208,000 common shares of the Company (the " Offered Shares ") were sold under the Offering (as defined below) at a price of C$2.65 per Offered Share (the " Issue Price ") for total gross proceeds of approximately C$35 million (the " Offering "). The Offering was co-led by Raymond James Ltd. and Eight Capital (together, the " Co-Lead Underwriters "), on behalf of a syndicate of underwriters (collectively with the Co-Lead Underwriters, the " Underwriters "), pursuant to the terms of an underwriting agreement between the Company and the Underwriters dated September 26, 2023 (the " Underwriting Agreement ").