VANCOUVER, BC, May 7, 2024 /CNW/ - New Pacific Metals Corp. ("New Pacific" or the "Company") reports its financial results for the three and nine months ended March 31, 2024.  All figures are expressed in US dollars unless otherwise stated. FINANCIAL RESULTS Net loss attributable to equity holders of the Company for the three and nine months ended March 31, 2024 of $1.27 million and $4.54 million or $0.01 and $0.03 per share, respectively (three and nine months ended March 31, 2023 – net loss of $2.28 million and $6.23 million or $0.01 per share and $0.04 per share, respectively).  The Company's financial results were mainly impacted by the following items: Operating expenses for the three and nine months ended March 31, 2024 of $1.72 million and $5.41 million, respectively (three and nine months ended March 31, 2023 - $2.38 million and $6.36 million, respectively). Net Income from investments for the three and nine months ended March 31, 2024 of $0.44 million and $0.74 million, respectively (three and nine months ended March 31, 2023 – $0.12 million and $0.16 million, respectively). Gain on disposal of plant and equipment for the three and nine months ended March 31, 2024 of $nil and $0.05 million, respectively (three and nine months ended March 31, 2023 – $nil and $nil, respectively). Foreign exchange gain for the three and nine months ended March 31, 2024 of $0.01 million and $0.08 million, respectively (three and nine months ended March 31, 2023 – loss of $0.02 million and $0.03 million, respectively). Working Capital: As of March 31, 2024, the Company had working capital of $23.67 million. PROJECT EXPENDITURE The following schedule summarized the expenditure incurred by category for each of the Company's projects for relevant periods: Cost Silver Sand Carangas Silverstrike Total Balance, July 1, 2022 $       76,568,598 $         5,460,946 $         3,269,232 85,298,776 Capitalized exploration expenditures Reporting and assessment 1,008,174 88,558 - 1,096,732 Drilling and assaying 1,925,695 8,289,678 977,881 11,193,254 Project management and support 2,719,120 1,424,573 256,569 4,400,262 Camp service 467,690 1,005,158 174,651 1,647,499 Permit and license 195,821 9,389