Mr. Warwick Smith reports

AMERICAN PACIFIC MINING IDENTIFIES LARGE-SCALE MT ANOMALY AT MADISON PROJECT WITH DRILL TESTING UNDERWAY

Drill testing of a new priority target recently identified by a magnetotelluric (MT) inversion survey at American Pacific Mining Corp.'s Madison copper-gold project in Montana, is now under way.

The large-scale, highly conductive geophysical anomaly is located in an area of the project that has never been drill tested. It measures approximately two kilometres by 600 metres, and is expected to be drilled to a total depth of approximately 800 metres.

"We have now received the final inversions of the MT survey conducted at Madison in March of this year," commented managing director of exploration,Eric Saderholm. "The resolution and clarity of the newly acquired MT data far surpass any historical geophysical techniques that have been used to understand the project, to date. The quality of the anomaly has allowed us to refine the azimuth and dip of our targets to more accurately test this impressive conductive feature and core drilling to test the porphyry is now under way. A second reverse circulation drill, expected to arrive on-site within two weeks, will focus on the shallower skarn targets."

MT survey highlights

Recent MT inversion modelling has defined two prominent conductive features at Madison, with the primary target being a large, north-northwest- to south-southeast-trending conductor located in a previously undrilled portion of the project area. The conductor appears to mirror the structural architecture of the district and is spatially associated with major fault corridors interpreted to have played an important role in controlling mineralizing fluids.

Results of the MT survey show:

• A large conductive anomaly measuring approximately two kilometres by 600 metres;
• A highly conductive core interpreted from the MT inversion model;
• A strong apparent structural relationship with the Silver Star fault corridor and associated splays;
• Potential connectivity between deeper conductive features and shallower conductive zones that may represent alteration, CRD replacement or skarn-related mineralization;
• A target footprint that has not previously been drill tested.

The MT inversion results suggest that the primary conductor may reflect a combination of structural preparation, hydrothermal alteration and potential sulphide-bearing mineralization. The company cautions that geophysical anomalies are not direct evidence of mineralization. However, the size, geometry, conductivity intensity and structural setting of the Madison anomaly make it a high-priority drill target for the 2026 campaign.

A new target area within a proven district

The Madison project hosts a historically productive copper-gold skarn system with past mining and modern exploration focused primarily around known mine workings and previously defined mineralized zones. The newly identified MT anomaly lies outside the historically drilled areas and provides the company with a fresh opportunity to evaluate a new part of the system.

The 800-metre drill hole is designed to test the core of the conductive anomaly and evaluate whether the geophysical response is associated with sulphide-bearing skarn, carbonate replacement-style mineralization, alteration related to a concealed intrusive source or a combination of these features.

2026 Madison exploration campaign

The company's 2026 exploration program at Madison includes drill testing of the newly identified MT anomaly, along with continued evaluation of known skarn mineralization and deeper intrusive-related targets across the project. The initial hole into the MT anomaly will provide important geological information on lithology, alteration, structure, sulphide content, and the potential relationship between the conductive anomaly and mineralization.

See the June 1, 2026, news release for full details of the 15,000-metre drill program. Additional updates will be provided as drilling advances.

Qualified person statement

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

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 with milestone upside exposure to the advanced exploration-stage Palmer copper-zinc VMS project in Alaska. American Pacific also holds a significant equity position in ICG Silver & Gold through a spinout of the Tuscarora district project in Nevada. Several additional high-grade precious metals projects located in key mining districts in Nevada remain in the asset portfolio. The company's mission is to provide shareholders with 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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