NEW PAC MTLS : New Pacific Metals Receives Conditional Approval for Graduation to the TSX

VANCOUVER, BRITISH COLUMBIA - (January 26, 2012) - New Pacific Metals Corp. (TSX-V: NUX) (the "Company") is pleased to announce that it has received conditional approval for its common shares to be listed on the Toronto Stock Exchange ("TSX"), subject to the final approval of the TSX. The Company´s common shares will commence trading on the TSX once final approval is received. Upon listing on the TSX, the Company´s common shares will continue to trade under the symbol "NUX".

In connection with the listing on the TSX, the Company will apply to voluntarily delist it shares from the TSX Venture Exchange to take effect on the date such shares commence trading on the TSX.

About New Pacific Metals Corp.

New Pacific Metals Corp. is a Canadian near-term gold and silver mining company engaged in the exploration and development of gold poly-metallic properties in the Yukon, Canada. The Company's current project is the Tagish Lake Gold Property in Yukon Territory. With experienced management and sufficient technical and financial resources, the Company is well positioned to build shareholder value through discovery, exploration and resource development.

For more information about New Pacific, visit New Pacific´s website at or contact New Pacific Metals Corp., Jason Nickel, Vice President Engineering, Phone: [phone], Fax: [phone], or New Pacific Investor Relations at 604-633-1368 or send inquires to [e-mail].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.