SCHEDULE: Pan American Silver Maintains 11.5% Stake in New Pacific Metals

Pan American Silver Corp. has disclosed its continued beneficial ownership of 11.5% of New Pacific Metals Corp.'s common shares.

Summary

• Pan American Silver Corp. beneficially owns 21,071,264 common shares of New Pacific Metals Corp.
• This ownership represents 11.5% of New Pacific Metals Corp.'s outstanding common shares.
• The percentage is calculated based on 183,736,205 common shares of New Pacific Metals Corp. issued and outstanding as of November 7, 2025.
• Pan American Silver Corp. holds sole voting power and sole dispositive power over all 21,071,264 shares.

Sentiment

Score: 6

Explanation: The filing is a factual disclosure of beneficial ownership, which is generally neutral. However, the continued significant stake by a major industry player can be interpreted as a moderately positive signal for the issuer.

Positives

• Pan American Silver Corp., a major silver producer, maintains a significant 11.5% beneficial ownership stake in New Pacific Metals Corp., indicating continued strategic interest and potential confidence in New Pacific Metals' prospects.

Future Outlook

NA

Industry Context

Pan American Silver Corp.'s significant stake in New Pacific Metals Corp. is typical in the mining industry, where larger, established producers often invest in or acquire junior exploration companies to secure future resource pipelines. This ownership suggests a strategic alignment or potential future collaboration given both companies' focus on silver assets.

Related Party Transactions

• Pan American Silver Corp. holds a significant ownership stake in New Pacific Metals Corp., establishing a related party relationship through beneficial ownership.

Stakeholder Impact

• Shareholders of New Pacific Metals Corp. may view Pan American Silver Corp.'s continued significant ownership as a vote of confidence, potentially stabilizing or positively influencing investor sentiment.
• The relationship could open avenues for strategic partnerships or technical collaboration between the two companies.

Key Dates

Keywords

Pan American Silver Corp., New Pacific Metals Corp., Beneficial Ownership, Schedule 13G, Common Shares, Silver Mining, Strategic Investment