New Pacific Metals Announces Framework Agreement for Cooperation and Coordination with the Carangas Community

New Pacific Metals Corp. has achieved a significant milestone in advancing its Carangas silver-gold project in Bolivia's Oruro Department through the signing of a Framework Agreement for Cooperation and Coordination with the local indigenous Carangas community (TIOC Carangas). This agreement establishes a comprehensive framework for project development based on transparency, mutual respect, and long-term cooperation, representing a critical step toward moving the project into production phase.

The agreement outlines substantial commitments from both parties. New Pacific has pledged to respect indigenous land rights, comply with environmental regulations, make fixed annual contributions to a community development fund, support local hiring and procurement, and implement a community resettlement plan with improved infrastructure. In return, TIOC Carangas will actively participate in government consultation processes, collaborate on conflict resolution, and provide unrestricted access for exploration and mining operations.

This framework agreement enables New Pacific to proceed with formal prior consultation processes with Bolivia's Administrative Jurisdictional Mining Authority (AJAM), followed by applications to convert exploration licenses to mining permits through the National Assembly. The company plans to commence feasibility studies once permits are secured, alongside an aggressive 2026 drilling campaign exceeding 30,000 meters targeting resource upgrades and deeper gold mineralization zones.

The successful community engagement reflects New Pacific's decade of operational experience in Bolivia and strengthens the development pathway for what could become a significant precious metals operation. With the Silver Sand project in Potosí also advancing through permitting, New Pacific is positioning itself as a major precious metals developer in Bolivia's mining sector, demonstrating how effective stakeholder engagement can unlock project advancement in challenging jurisdictions.