Mr. Warwick Smith reports

AMERICAN PACIFIC RECEIVES PERMIT TO DRILL HIGH-GRADE MADISON COPPER GOLD PROJECT IN MONTANA

American Pacific Mining Corp. has received the permits necessary to commence drilling at the Madison copper-gold project in Montana, United States.

The five-hole diamond drill campaign, which is expected to commence in the first quarter of 2024, is designed to further define and expand on known near-surface, high-grade copper and gold mineralization, while extending beneath known mineralization to provide a foundation for deeper exploration in areas which have seen limited historical drilling.

The program sets out to achieve three key objectives: test shallow gap areas; tighten drill spacing at moderate depth within the skarn to support a future mineral resource estimate; and extend below known mineralization to provide valuable information for deeper exploration in subsequent campaigns.

Previous drilling in this area returned drill intersections of 14.44 grams per tonne gold over 6.53 metres (see news release dated Jan. 22, 2022) and 6.97 per cent copper over 61.63 metres. This program is, in part, a follow-up to the work done during previous partner-funded campaigns.

"The Madison project has always been of keen interest to our team, given its historical high grades and still limited exploration," commented chief executive officer Warwick Smith. "Madison has been shown to carry significant grades, particularly in the skarn, and we look forward to extending skarn mineralization, as we prepare to conduct more comprehensive exploration into the porphyry-style mineralization beneath."

Qualified person

Technical aspects of this press release have been reviewed and approved by Eric Saderholm, PGeo, the designated qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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: the Palmer project, a volcanic massive sulphide (VMS) 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 partnered with Kennecott Exploration Company, a division of the Rio Tinto Group. 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 high-grade, precious metals projects located in key mining districts of Nevada, United States: the Ziggurat gold project, partnered with Centerra Gold; and the Tuscarora gold-silver project. The company's mission is to grow by the drill bit and by acquisition.