Mr. Warwick Smith reports

AMERICAN PACIFIC MINING ANNOUNCES MICHAEL GENTILE INCREASES OWNERSHIP TO 12.48%

Michael Gentile has exercised a total of 8,181,964 American Pacific Mining Corp. common share purchase warrants at 16 cents per common share for total proceeds of $1,309,114.24 received by the company.

Following the warrant exercise, Mr. Gentile holds 22,552,932 shares and 2,236,974 warrants, representing 11.48 per cent of the issued and outstanding shares of the company on a non-diluted basis, and, on a partially diluted basis, (in example, assuming full exercise of the warrants), Mr. Gentile would hold a total of 24,789,906 shares, representing approximately 12.48 per cent of the company's issued and outstanding shares.

The company also announces that it intends to extend the expiration date of 3,888,849 warrants originally issued to the holders on Aug. 12, 2021, pursuant to a private placement by two years.

The warrants are exercisable into common shares of the company at a price of 34 cents per share and currently have an expiry date of Aug. 12, 2023. The company wishes to extend the expiry date of the warrants to 4 p.m. PT on Aug. 12, 2025. All other terms and conditions of the warrants, including the exercise price, remain the same.

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 has two flagship assets: a 14-million-tonne, high-grade, Palmer volcanic massive sulphide (VMS) project in Alaska, under joint venture partnership with Dowa Metals & Mining, owner of Japan's largest zinc smelter, and the company is also partnered with Kennecott Exploration, a division of the Rio Tinto Group, on the 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 Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories. Also in American Pacific's asset portfolio are the Gooseberry silver-gold project and the Tuscarora gold-silver 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.