Mr. Warwick Smith reports

AMERICAN PACIFIC ANNOUNCES FURTHER UPSIZE OF FULLY SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT TO $4.5M

Due to overwhelming investor demand, American Pacific Mining Corp. has increased the size of its previously announced non-brokered private placement (see news releases dated April 2, 2024, and April 3, 2024) by an additional 2.5 million units at a price of 20 cents per unit for gross proceeds $4.5-million. The private placement is fully subscribed.

"We are incredibly grateful for the overwhelming support we have received from both new and existing investors in this private placement," commented chief executive officer Warwick Smith. "This strong demand is a testament to the confidence investors have in our company's vision and ability to create long-term shareholder value as we accelerate the exploration of our 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, 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. A second amended and restated offering document dated April 3, 2024, 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 is a precious and base metal 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 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 metal 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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