Mr. Warwick Smith reports

AMERICAN PACIFIC ANNOUNCES ANTICIPATED CLOSING OF PLAN OF ARRANGEMENT WITH ICG SILVER & GOLD

American Pacific Mining Corp. has provided an update on the previously announced plan of arrangement with ICG Silver & Gold Ltd. The company has been informed that ICG has received conditional approval from the Canadian Securities Exchange for the listing of the common shares of ICG on the CSE.

Following receipt of conditional CSE approval, the company now anticipates closing the arrangement on March 25, 2026.

Under the arrangement, ICG will acquire all of the issued and outstanding shares of Clearview Gold Inc. and American Pacific Mining (U.S.) Inc., each a wholly owned subsidiary of American Pacific and the registered owner of the Danny Boy and Tuscarora projects, respectively, in exchange for the issuance to the company of 11.5 million ICG shares. The company will distribute 7.5 million ICG shares to company shareholders in accordance with an exchange ratio to be determined based on the number of issued and outstanding common shares of the company as of the closing date.

Pursuant to the arrangement, the ICG distribution shares will be distributed on a pro rata basis to American Pacific Mining shareholders of record as of the closing date by exchanging each outstanding American Pacific Mining share for: (i) one new common share of the company, which shall be identical in every relevant respect to the American Pacific Mining shares; and (ii) such number of ICG shares as is determined by the exchange ratio. The company will retain the remaining ICG shares received pursuant to the arrangement. Based on the issued and outstanding American Pacific Mining shares as of the date of this news release, the exchange ratio would be approximately 0.0283 of an ICG share for each American Pacific Mining share held.

The ICG shares, including the ICG distribution shares, are expected to commence trading on the CSE on March 31, 2026.

Following completion of the arrangement, the New American Pacific Mining shares are expected to trade under a new Cusip number and ISIN (international securities identification number), 028792109 and CA0287921096, respectively.

Company shareholders approved the arrangement at the company's annual general and special meeting of shareholders held on Feb. 25, 2026. The Supreme Court of British Columbia issued a final order approving the arrangement on Feb. 27, 2026. For additional information on the arrangement, please refer to the company's management information circular dated Jan. 23, 2026, and the company's news releases dated Dec. 8, 2025, Jan. 12, 2026, Jan. 26, 2026, and Feb. 25, 2026.

About ICG Silver & Gold Ltd.

ICG is a new mineral exploration and development company advancing the Tuscarora district in northern Nevada. While currently private, the company intends to complete a public listing during Q1 2026. The company's strategy is focused on advancing the Tuscarora district through systematic exploration and technical studies, building a district-scale geological model, and progressing the project toward resource definition and future development.

About American Pacific Mining Corp.

American Pacific Mining is a precious and base metals explorer and developer focused on opportunities in the Western United States. The company's flagship asset is the 100-per-cent-owned past-producing Madison copper-gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist in both 2021 and 2022 for Deal of the Year at the S&P Global Platts Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories. Through a 2025 transaction with Vizsla Copper, American Pacific has established a major equity position and secured $15-million in aggregate milestone upside exposure to the advanced-exploration-stage Palmer copper-zinc VMS (volcanogenic massive sulphide) project in Alaska. Also in American Pacific's portfolio are several high-grade, precious metals projects located in key mining districts in Nevada, on which the company intends to transact. The company's mission is to provide shareholders discovery and exploration upside exposure across its portfolio through partnerships, spinouts and direct exploration.

American Pacific is incorporated pursuant to the laws of British Columbia and its head office is located at Suite 910, 510 Burrard St., Vancouver, B.C., V6C 3A8.

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