Mr. Eric Saderholm reports

AMERICAN PACIFIC MINING MOBILIZES DRILL TO THE PAST-PRODUCING GOOSEBERRY SILVER MINE IN NEVADA, USA

American Pacific Mining Corp. has mobilized a drill in preparation for an initial drill program at its Gooseberry silver-gold project in Nevada, United States.

The initial 3,500- to 4,000-metre, 15-hole program will focus on diamond drilling to test known mineralized zones, including lateral and down-dip extensions to some of the higher-grade mineralization that was encountered during mining throughout the 1900s.

"We are very pleased to begin our first drill program at Gooseberry, a project known for very high-grade, minable silver and gold mineralization," stated American Pacific president Eric Saderholm. "We will accelerate the program with a second drill rig based on the success in our initial drill holes. Gooseberry is located in the Ramsey mining district, which is known for the historic and famous high-grade gold and silver mines of the Comstock Lode. This is a great opportunity for American Pacific."

About Gooseberry

Gooseberry is a low sulphidation, epithermal vein system encompassing the historical Gooseberry silver-gold mine in Storey county, Nevada. The past-producing underground silver and gold mine operated for nearly a century between 1900 and 1990, after which mining ceased due to low precious metals prices. No meaningful modern exploration work has been done on the project since 1991. The company owns an undivided 100-per-cent interest with no underlying royalties and previously sampled up to 18.45 grams per tonne Au and 595 grams per tonne Ag from the dumps and old mineralized stockpiles at Gooseberry (see press release dated June 5, 2019).

Qualified person

Technical aspects of this press release have been reviewed and approved by Phil Mulholland, PGeo, and Eric Saderholm, PGeo, the designated qualified persons under National Instrument 43-101.

About American Pacific Mining Corp.

American Pacific is a precious metals explorer focused on opportunities in the Western United States. The company's flagship asset is the high-grade, past-producing Madison copper-gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the company acquired in 2020. For this transaction, American Pacific has been selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including Deal of the Year, the category in which American Pacific Mining is competing. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific's asset portfolio are the Gooseberry gold-silver project and the Tuscarora gold project: two high-grade, precious metals projects located in key mining districts of Nevada, U.S. The company's mission is to grow by the drill bit and by acquisition.

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