Vancouver, British Columbia–(Newsfile Corp. – April 9, 2026) – Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (“Nova Pacific” or the “Company“) is pleased to announce that the Company has completed the acquisition of a 100% interest in the Lara Volcanogenic Massive Sulphide (“VMS“) Project located on Vancouver Island, British Columbia. Nova Pacific recently made the final cash payment required under the Company’s property option agreement with two vendors dated June 14, 2024, as amended (the “Option Agreement“), one of whom was subsequently appointed as a director of the Company.
The acquisition of the property comes on the heels of Nova Pacific’s recently announced independent Mineral Resource estimate (“MRE”) for the Coronation deposit at Lara, which established an initial near-surface, pit-constrained Mineral Resource for one of several mineralized zones identified on the Lara Project and supports further technical evaluation.
With the final payment made and the transfer of the mineral claims completed, Nova Pacific now holds a 100% interest in the Lara Project, subject only to a 2% net smelter returns royalty in favour of the vendors (the “NSR Royalty“), one-half of which (or 1%) may be purchased by the Company for $2,000,000 in accordance with the terms of the Option Agreement.
Highlights include:
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Option exercise completed: Nova Pacific has completed the acquisition of a 100% interest in the Lara Project, giving shareholders full exposure to the property’s current resource base and broader exploration upside, subject only to the NSR Royalty.
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Latest independent MRE at Coronation: A pit-constrained Indicated resource of 1.944 Mt grading 1.50 g/t AuEq and a pit-constrained Inferred resource of 2.024 Mt grading 1.11 g/t AuEq.
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Growth runway across Lara: Following receipt of the MRE, the Company plans to advance metallurgical and other technical studies at Coronation, while future drilling is expected to focus on high-priority targets including Lady A, Lady C, and Anita.
“Acquiring a 100% interest in Lara is a major milestone for Nova Pacific, especially coming immediately after our initial independent Mineral Resource estimate for the Coronation deposit,” commented Sam Eskandari, the Company’s CEO. “We believe securing full ownership gives our shareholders maximum exposure to the value of the current resource and the broader upside we see across the Lara project. With the option exercise complete, we are in a stronger position to advance Coronation through technical work and continue to evaluate additional mineralized zones across the property.”
As announced on March 17, 2026, the Coronation MRE represents one of several mineralized zones identified on the Lara Project and establishes a meaningful near-surface Mineral Resource whose scale and geometry support further technical evaluation. Nova Pacific believes the broader resource base at Lara may be expanded through exploration of additional zones across the property.
Under the terms of the Option Agreement, Nova Pacific paid an aggregate of $250,000 in cash to the vendors, plus certain minor late payment penalties, to earn a 100% interest in the Lara Project.
Readers are cautioned that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The Coronation MRE is effective as of date of February 1, 2026 and was prepared by Gregory Z. Mosher, M.Sc., P.Geo., a qualified person within the meaning of National Instrument 43-101 (“NI 43-101“). For full MRE tables, assumptions, and notes, readers should refer to Nova Pacific’s March 17, 2026 news release regarding the Coronation deposit.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Gregory Mosher, M.Sc., P.Geo., of Mineit Consulting Inc., who is an independent consultant to the Company and a “qualified person” as defined by NI 43-101.
Rights of Indigenous Communities
Nova Pacific recognizes the inherent rights of all Indigenous Peoples of Canada and is committed to early, meaningful, and respectful engagement with First Nations communities. The Company acknowledges that its Lara Project is located on the Traditional, Ancestral, and Unceded Territories of the Hul’qumi’num Treaty Group, a politically unified group representing six Hul’qumi’num-speaking First Nations: Cowichan, Stz’uminus, Penelakut, Lyackson, Halalt, and Lake Cowichan.
Nova Pacific pursues early consultation and meaningful engagement with First Nations communities to ensure that the Company’s mineral exploration and development activities are aligned with local priorities, values, and cultural protocols, 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, while advancing reconciliation and economic opportunities within Indigenous communities.
About Nova Pacific
Nova Pacific Metals Corp. is a Canadian exploration and development company advancing the Lara VMS Project on Vancouver Island, British Columbia. The Company owns a 100% interest in the Lara Project, which hosts a Mineral Resource enriched with critical and precious metals and is strategically located near key infrastructure. Nova Pacific’s strategy includes exploration drilling, technical studies, and systematic evaluation of the broader property to support future resource growth and project advancement. 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
For investor inquiries or for further information, please contact:
Nova Pacific Metals Corp.
+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 the MRE; the reasonable prospects of eventual economic extraction; statements regarding field programs planned for later this year and next; exploration and mine development plans; statements regarding regional exploration potential and the ability to develop exploration targets, drill targets, and define Mineral Resources; and the establishment of mutually beneficial partnerships with Indigenous communities. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent in Mineral Resource estimates; the fact that Mineral Resources are not mineral reserves and do not have demonstrated economic viability; the lack of certainty regarding the conversion of Mineral Resources into mineral reserves; uncertainties related to geological continuity, grade distribution, and the extent of mineralization; assumptions used in metal equivalency calculations, metal prices, recoveries, and costs; risks that historical drilling data may be incomplete, inaccurate, or insufficient to support future work; risks that the compilation, organization, or digitization of historical datasets may not be completed in a timely manner or may not provide useful information; risks that field programs may be reduced, delayed, or may not proceed as planned; metallurgical uncertainties; 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. Any references to nearby projects, properties, or mines are provided for regional context only, and mineralization on adjacent or nearby properties is not necessarily indicative of mineralization on the Lara Project. 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.
