Nova Pacific Drilling Confirms Significance of High-Grade Historical Trench Results

3.0m @ 11.67 g/t Gold, 373 g/t Silver, 21.33% Zinc, 4.23% Lead, and 1.75% Copper

Vancouver, November 27, 2024 - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce initial results from a backpack drilling program completed on its Lara Project on Vancouver Island, British Columbia. Six BQ-sized holes totalling 18.11m (59.4 ft) were drilled from one surface location using a Shaw backpack drill in order to confirm historic grades and to collect modern trace geochemistry information for massive sulphide mineralization in the Coronation Zone (Figure 1).

To date, Nova Pacific has obtained results from two boreholes (see Table 1). Hole 24BP01 intersected 3.0 m of fractured/rehealed and sheared limestone (marble) hosting thick massive sulphide layers comprising predominantly sphalerite, galena and chalcopyrite (Figure 2). The weighted average assay across the full 3 metres (9.84 ft) returned 11.67 g/t Au, 373 g/t Ag, 21.33% Zn, 4.23% Pb, and 1.75% Cu.

"These initial results from our backpack drilling program at the Lara Project are truly exceptional," said J. Malcolm Bell, CEO of Nova Pacific. "The high-grade intersections we've encountered, particularly in Hole 24BP01 with significant gold, silver, zinc, lead, and copper values, not only validates our exploration strategy but also reaffirms a portion of the historical data from the Coronation Zone. These findings are a first step in revitalizing the Lara Project and provides increased confidence in its future development as we await results from the remaining 4 holes. As soon as we receive permitting for the planned 40 drill hole program, we will immediately commence the balance of our confirmation program."

The first 0.9 metres (2.95 ft) of Hole 24BP02 intersected massive sulphides comprising brown sphalerite, galena, chalcopyrite and pyrite. This interval assayed 3.16 g/t Au, 462 g/t Ag, 46.03% Zn, 7.54% Pb, and 2.13% Cu. The remaining 1.5 metres (4.9 ft) intersected fractured/rehealed limestone (marble) with a matrix of sulphides, including brown sphalerite, galena, chalcopyrite and pyrite. This interval assayed 1.375% Zn, 0.56% Pb, 0.515% Cu, 0.479 g/t Au and 165 g/t Ag.

Figure 1. Diamond Drill Hole (DDH) Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10425/231526_d9dc52810485d832_001full.jpg

Together with the Coronation Extension and Hanging Wall zones, the Coronation Zone hosts most of the reserve and the historic resource calculations of the Lara Project. While classified as massive sulphides, these zones consist of bands, laminae and stringers of sulphide minerals in a strongly silicified rhyolite host¹.

Tables 1 & 2 - Drill Hole Information

Figure 2. Core from Hole 24BP01

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10425/231526_d9dc52810485d832_002full.jpg

The Company is encouraged by these preliminary numbers and looks forward to the release of assay results from the remaining holes (24BP03-06), when they become available.

¹ Crocker, R. (2014): Mapping, Whole Rock Geochemical Sampling and Preliminary Environmental Baseline Survey of the Lara Polymetallic Property, BCGS Assessment Report 35424

Qualified Person

The technical information in this news release has been reviewed and approved by David Nelles, P.Geo., a qualified person as that term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Nelles acts as a consultant to the Company and is therefore not independent.

Rights of Indigenous Communities Statement

Nova Pacific recognizes the Rights of all Indigenous Peoples of Canada. The Company is committed to consultation and accommodation with the Hul'qumi'num Treaty Group communities on whose Traditional, Ancestral and Unceded Territory the Lara Property is located. The Hul'qumi'num Treaty Group is a politically unified group that represents six Hul'qumi'num-speaking First Nations: Cowichan, Stz'uminus, Penelakut, Lyackson, Halalt, and Lake Cowichan.

About Nova Pacific

Nova Pacific is a Canadian exploration and development company focused on our key asset, the Lara Volcanogenic Massive Sulfide (VMS) Project on Vancouver Island, British Columbia. This brownfields development project boasts a significant polymetallic resource rich in gold, silver, copper, and zinc, situated in a prime location with excellent infrastructure. Nova Pacific's forward-looking strategy includes confirmation and infill drilling, completion of an updated mineral resource estimate (MRE) and preparation of a Pre-Feasibility Study if and as required. We are committed to creating value for our shareholders while maintaining environmental responsibility and strong community relationships.

For additional information please visit: www.novapacificmetals.com.

On behalf of the Board of Directors

J. Malcolm Bell
Chief Executive Officer, Director

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. 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's actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. 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. Any forward‐looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231526