Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to provide an update on its ongoing 8,500-metre Phase 1 drill program at the Lara Volcanogenic Massive Sulphide (VMS) Project, located on Vancouver Island, British Columbia.
Highlights:
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Phase 1 drill program underway: The first 14 of 39 planned drill holes have been completed, with a total of 3,105 meters drilled to date.
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Assay results are pending: The first 4 drillholes have been sampled and will be shipped to ALS Geochemistry in North Vancouver for rush assaying.
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Massive sulphide mineralization encountered: Visual identification of key VMS-style minerals including sphalerite, galena, chalcopyrite, and pyrite.
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Twofold exploration objectives:
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Verifying the historical resource, and
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Testing new targets along strike and at depth to potentially expand the current geological model.
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Significant catalysts ahead:
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Rush results from initial holes are expected to generate sustained news flow, and
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A current mineral resource is targeted for Q4 of this year
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Sam Eskandari, the Company's CEO, stated, "We're off to a strong start at Lara. The visual confirmation of massive sulphide mineralization from our first drill holes is a compelling early indication of the project's potential. This phase of drilling is not only about verification; it's about revealing Lara's broader potential. With rush assays being submitted and multiple targets still ahead, we believe Lara is well-positioned to become a standout VMS project in British Columbia. We're looking forward to sharing a steady stream of results in the weeks to come."
Phase 1 Drill Program Underway at the Coronation Trend
Nova Pacific's Phase 1 exploration program is focused on completing approximately 8,500 metres across 39 holes. Drilling began in mid-May and a total of 3,105 metres have been drilled over 14 NQ-sized, diamond drillholes thus far, with drilling ongoing. Within the first processed drillholes, sections of visible massive sulphide and sulphide vein mineralization have been identified in altered felsic volcanics of the Sicker Group.
Assay Results Pending
The first 4 drillholes have been sampled and will be shipped to ALS Geochemistry in North Vancouver for rush assay. Core processing is ongoing, with samples from additional drillholes to be sent as they are completed.
Figure 1: Core from Hole NP25-001 showing sections of massive sulphide and sulphide veins containing Sphalerite, Galena, Chalcopyrite, and Pyrite.
Phase 1 Program
The highly anticipated Phase 1 Program has two primary objectives:
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Confirming the Historical Resource: The Company plans to confirm the presence and extent of the mineralization that was included in the historical resource estimate. This current phase of drilling will provide updated geological data, incorporating modern assay techniques and quality control measures to align with industry best standards.
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Demonstrating Expansion Potential: Beyond confirmation drilling, the Company also plans to test recently identified high-priority exploration targets beyond the previously delineated mineralization along the Coronation Trend.
Figure 2: Drill rig on site at the Lara Project.
Historical Resource Context
The Lara Project hosts a historical resource estimate based on over 58,000 metres of drilling in 323 holes. Lara's historical Mineral Resource Estimate (MRE), while not a current NI 43-101 compliant MRE, is considered relevant to provide context to assist the current drill targeting. The Company emphasizes that a Qualified Person has not yet validated this resource and it is not being treated as current.
| Category | Tonnes | Zinc (%) | Silver (g/t) | Copper (%) | Lead (%) | Gold (g/t) |
| Indicated | 1,146,700 | 3.01 | 32.97 | 1.05 | 0.58 | 1.97 |
| Inferred | 669,600 | 2.26 | 32.99 | 0.90 | 0.44 | 1.90 |
Table 1. Lara's Historical Resource Estimate (1% Zinc Block Cut-off)
Current Mineral Resource Estimate Targeted for 2025
Subject to assay results, the Company believes that the areas targeted in the Phase 1 drill program have the potential to support the calculation of an MRE in Q4 2025. In anticipation of reporting a current Mineral Resource, the Company has retained Mineit Consulting Inc. for the preparation of an updated technical report for the Lara Project.
Figure 3: Tripoint Geological Services' geologist taking core measurements of recently received drill core.
Evaluation of Nearby Zones Underway to Advance Lara's Broader Potential
The Lara Project comprises 19 mineral claims totaling 4,671 hectares in a 17-kilometre-long belt of the McLaughlin Ridge Formation - a correlative of the Myra Formation that hosts the past-producing Myra Falls VMS Mine approximately 140 km to the northwest.
While the Coronation Trend has received the majority of past attention, Nova has commenced evaluation of six additional mineralized zones across the Project, many of which include historical drilling. These zones remain underexplored and represent compelling upside as part of the Company's strategy to define mineral resources beyond the Coronation Trend. Conceptual work programs are underway to support future exploration planning. The potential for lens-stacking and stratigraphic clustering, typical of VMS systems, further supports a broader exploration thesis.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by David Nelles, P.Geo., who is a consultant to the Company and a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Rights of Indigenous Communities Statement
Nova Pacific pursues early and meaningful engagement with First Nations communities to ensure that the Company's mineral exploration and development activities are well co-ordinated and broadly supported by addressing local priorities and concerns, while optimizing opportunities for collaboration. In particular, the Company seeks to establish mutually beneficial partnerships with Indigenous groups within whose traditional territories the Company's projects are located. All work programs are carefully planned to achieve high levels of environmental and social performance.
About Nova Pacific
Nova Pacific is a Canadian exploration and development company focused on the Lara Volcanogenic Massive Sulfide (VMS) Project on Vancouver Island, British Columbia. Nova Pacific holds an option to acquire a 100% interest in the Lara Project. The project boasts a significant historical resource rich in critical and precious metals situated in a prime location near excellent infrastructure. Nova Pacific's forward-looking strategy includes verification and exploration drilling and the completion of an updated mineral resource estimate (MRE), with additional technical and exploration studies to be considered following these milestones. The Company is committed to creating value for its shareholders while supporting environmental responsibility and strong community relationships.
For additional information please visit: www.novapacificmetals.com.
On behalf of the Board of Directors
Sam Eskandari, CEO & Director
For investor inquiries, or for further information, please contact:
Nova Pacific Metals Corp.
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+1-416-918-6785
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information including, without limitation, statements regarding the Company's exploration plans. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. The Company's actual results could differ materially from those anticipated in this forward‐looking information.
Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans; statements regarding exploration results, potential mineralization, or verification of historical drilling results; the Company's plans to execute and complete its Phase 1 exploration program including the completion of a current mineral resource estimate; exploration and mine development plans; and the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to intersect potentially economic intervals of mineralization; failure to identify mineral resources; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; inability to fulfill the duty to accommodate First Nations and other Indigenous peoples; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates; and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
