Mr. Warwick Smith reports

AMERICAN PACIFIC REPORTS RESULTS FROM FIRST DRILL HOLES AT MADISON: INCLUDING 38.25 METRES OF 1.28% COPPER AND 1.22 G/T GOLD AND 32.71 METRES OF 3.15 G/T GOLD

American Pacific Mining Corp. has released assay results from the first three holes of the company's seven-hole phase 1 drill program at its Madison copper-gold project in Montana. The phase 1 drilling program, which is complete, focused on extending mineralization near previously mined areas with the goal of demonstrating significant gold and copper mineralization beyond the historical mine workings.

Highlights:

• APMMAD24-02: 38.25 metres of 1.28 per cent copper and 1.22 grams per tonne gold (2.34 per cent copper equivalent)**, including 2.08 per cent Cu and 2.43 g/t Au over 7.86 m;
• APMMAD24-05: 32.71 m of 3.15 g/t Au, including 7.32 m of 9.90 g/t Au; and 45.45 m of 0.96 per cent Cu, including 16.00 m of 2.02 per cent Cu;
• APMMAD24-01: 1.04 g/t Au over 17.04 m within a broader mineralized envelope of 32 m at 0.76 g/t Au; multiple zones of Cu mineralization with 0.43 per cent Cu over 17.37 m, including 1.39 per cent Cu over 3.05 m.

** The copper equivalence estimate used for APMMAD24-02 is assumed to be in situ using $2,350 (U.S.) per ounce gold and $3.95 per pound copper. There has not been sufficient metallurgical work completed to determine or apply a metal recovery for this estimate.

"These initial results have demonstrated that significant amounts of gold and copper mineralization extend well beyond the historical mined areas. In addition, the broader-than-expected intervals highlight the potential for mineralization left behind from historical mining that operated at a much higher cut-off grade," commented chief executive officer Warwick Smith. "We eagerly await further assay results, which we expect will continue to demonstrate the opportunity to define significant concentrations of both copper and gold."

Initial observations and interpretations

Past mining practices were heavily based on metallurgy, visual mining and processing capabilities at that time. Substantial high-grade copper and gold mineralization, that was not included in the previous operator's mine plan, remains in close proximity to mine workings. This phase 1 drill program offers both near-mine exploration potential and expansion opportunities, but more importantly helps vector the company into a more focused district-scale evaluation. Future targeting for phase 2 drilling will focus on a possible expansion to the west and at depth, where targets remain open and untested.

Additional results from the phase 1 program are expected in the coming weeks.

Madison project sampling and analysis quality assurance and quality control statement

At the Madison project, the company is committed to maintaining high standards of accuracy and reliability in its sampling and analysis procedures. The following quality assurance and quality control measures are employed in the company's sampling and analysis processes.

Analytical methods for the project include:

1. 50AR-MS: 50-element suite using a 0.5-gram aqua regia digestion followed by inductively coupled plasma mass spectrometry;
2. AUAG-GR30: gold and silver analysis with a 30-gram fire assay with a gravimetric finish;
3. Au-FA30: Au analysis using a 30-gram fire assay combined with AQR digestion, followed by atomic absorption spectroscopy or optical emission spectroscopy;
4. OLAR-OES: overlimits aqua regia digestion and analysis in instances where elemental concentrations exceed standard ranges;
5. PA-AU02: PhotonAssay to duplicate gold assays;
6. S-LECO: total sulphur analysis using the LECO method.

Sampling methodology

Whole core sampling has been adopted in specific contexts to mitigate the effects of sample variability and reduce any nuggetting effect.

Quality control measures

To ensure reliability and accuracy, stringent quality assurance/quality control protocols are followed, including:

• Use of certified reference materials at a rate of 1 to 20;
• Replicate analysis are performed to ensure accuracy;
• Blanks are inserted at a rate of 1 to 20.

Qualified person

Technical aspects of this press release have been reviewed and approved by the designated qualified person under National Instrument 43-101, managing director of exploration, Eric Saderholm, PGeo.

About American Pacific Mining Corp.

American Pacific is a precious and base metal explorer and developer focused on opportunities in the western United States. The company has two flagship assets: the Palmer project, a volcanic massive sulphide-sulphate project in Alaska, under joint venture partnership with Dowa Metals & Mining, owner of Japan's largest zinc smelter; and the Madison project, a past-producing 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. Also, in American Pacific's asset portfolio are high-grade, precious metal projects located in key mining districts in Nevada, United States, including the Ziggurat gold project and the Tuscarora gold-silver project. The company's mission is to grow by drill bit and by acquisition.