Live News • Aug 28
New Pacific Metals Secures 30-Year Carangas Contracts and Unveils 2026 Drill Program New Pacific Metals has signed 30‑year Administrative Mining Contracts for its Carangas Silver‑Gold Project in Bolivia, covering roughly 39 square kilometres, and plans to start a comprehensive drill program in September 2026 targeting resource upgrades and new exploration areas.
The updated preliminary economic assessment for Carangas indicates a post‑tax net present value of about US$2.65 billion and a post‑tax internal rate of return of 35.9%, highlighting the scale of the project being advanced under these contracts, which still require ratification by the Bolivian Plurinational Legislative Assembly.
New Pacific Metals shares trade at about CA$9.78, with the stock up 108.1% year to date, reflecting strong recent momentum around the Carangas project.
The combination of long‑dated contracts, sizeable projected project economics and a planned drill program concentrates risk around execution and permitting outcomes in Bolivia. Announcement • Aug 27
New Pacific Metals Reports Signing of Administrative Mining Contracts and Commencement of the 2026 Drill Program At the Carangas Project New Pacific Metals Corp. reported the signing of the Administrative Mining Contracts ("AMCs") for its Carangas Silver-Gold Project (the "Carangas Project"), located in Oruro Department of Bolivia. As previously reported (July 16, 2026 news release), New Pacific successfully completed the prior consultation process on July 6, 2026, obtaining the consent of the Carangas community and other regional stakeholders as required to convert the Carangas Project's existing Prospecting and Exploration Licences ("PELs") to AMCs. The Company submitted the required documentation to the Bolivian authorities, and the Autoridad Jurisdiccional Administrativa Minera (Administrative Mining Jurisdictional Authority, or "AJAM") has now finalized the administrative conversion. The AMCs, which cover the approximately 39 km² Carangas Project, have a 30-year fixed term and were officially signed with AJAM on August 21, 2026. The signed AMCs will now be submitted to the Plurinational Legislative Assembly of Bolivia for ratification and approval, representing the next key step toward formally obtaining the mining tenure. Following legislative approval, the Company expects to advance the Carangas Project's remaining permitting and technical work, including the environmental categorization and subsequent Environmental Impact Assessment process. The Company also announced that the 2026 Carangas drill program is scheduled to commence the week of September 8th, 2026. The approximately 30,000 metre drilling campaign will include approximately 25,000 metres of drilling to upgrade mineral resources in both the silver zone and the gold zone with the balance focused on step-out drilling for potential extensions and testing new targets such as the standalone chargeability anomalies of the induced polarization surveys completed in 2023 beyond the known mineral resource area. Site preparation is underway, including mobilization of drilling equipment and contractors. As part of the program the Company will gather data for the planned feasibility study, including collecting samples for metallurgical test work and conducting geotechnical and hydrological drilling. Price Target Changed • Jul 17
Price target increased by 9.7% to CA$8.83 Up from CA$8.05, the current price target is an average from 3 analysts. New target price is 54% above last closing price of CA$5.74. Stock is up 148% over the past year. The company is forecast to post a net loss per share of US$0.025 next year compared to a net loss per share of US$0.022 last year. 
