Pagination Not Working On Page Template

I am having trouble getting pagination to work on a custom page template for an archive page. Everything appears to be working fine except the pagination links not appearing.

Here is the code:

<?php
				$paged = ( get_query_var('paged') ) ? get_query_var('paged') : 1;
				$args = array(
					'category_name' => 'press-releases',
					'posts_per_page' => 16,
					'paged' => $paged,
				);
				$the_query = new WP_Query($args);
				if ( $the_query->have_posts() ) : while ( $the_query->have_posts() ) : $the_query->the_post();
					get_template_part( 'content', get_post_format() );
				endwhile; ?>
				<?php next_posts_link('Older Posts'); ?>
				<?php previous_posts_link('Newer Posts'); ?>
				<?php endif; wp_reset_postdata(); ?>