Mr. Warwick Smith reports

AMERICAN PACIFIC ANNOUNCES UPSIZE OF FULLY SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT TO $4M

American Pacific Mining Corp., due to strong investor demand, has increased the size of its previously announced non-brokered private placement (see news release dated April 2, 2024) from 15 million units at a price of 20 cents per unit for gross proceeds of $3-million to 20 million units for gross proceeds of $4-million. The private placement is now fully subscribed and the order book is closed.

"We are very pleased to see such strong investor demand for this private placement, which we believe demonstrates the significant support and confidence that investors have in American Pacific and our ability to deliver shareholder value," commented Warwick Smith, chief executive officer. "The funds raised will allow us to aggressively advance our exploration programs at our two key projects."

The company intends to use the net proceeds from the offering for exploration and development on the company's Palmer project, Madison project, and other mineral exploration and development projects, and for general corporate purposes. Closing of the offering is expected to occur as soon as practicable and may occur in one or more tranches. The company may pay a finder's fee in connection with the offering to eligible arm's-length finders in accordance with the policies of the Canadian Securities Exchange. Eventus Capital Corp. has been appointed as a finder in connection with the offering.

This offering is being conducted under the listed issuer financing exemption as per Part 5A of National Instrument 45-106 -- Prospectus Exemptions. As a result, the securities issued will not be subject to a hold period under the prevailing Canadian securities laws. An offering document related to this offering is available on the company's SEDAR+ profile and on the company's website. Potential investors are advised to thoroughly review the offering document prior to making any investment decisions.

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-sulphate (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. 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 in Nevada, United States, including 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.

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