Mr. Warwick Smith reports

AMERICAN PACIFIC MINING RECEIVES DRILL PERMIT APPROVAL FOR THE MADISON COPPER-GOLD PROJECT AND PREPARES TO TEST HIGH-PRIORITY PORPHYRY AND SKARN TARGETS

American Pacific Mining Corp. has received a drill permit for the Madison copper-gold project located 43 kilometres southeast of Butte, Mont., and the Berkley Pit mine within the Idaho-Montana porphyry belt. This milestone enables the company to commence drilling on multiple high-priority district targets, including porphyry targets identified through extensive geologic mapping, geophysical surveys and 3-D modelling.

"We are very pleased to have received approval to advance the next phase of drilling at Madison," commented managing director of exploration, Eric Saderholm. "At present, seven drill pads have been fully permitted, with an additional 12 pads pending approval. By structuring the program across two separate Bureau of Land Management notices of intent, we are not only managing surface disturbance more efficiently, but also creating the flexibility to build a robust and district-scale drill campaign. The program envisions up to 30 holes from multiple pads, including two deep 900-metre tests of the porphyry targets. These sites span the property, targeting previously untested ground, distal porphyry anomalies, and high-grade skarn and quartz vein mineralization identified in surface sampling."

Chief executive officer Warwick Smith added: "The current commodities market has heightened the demand for high-quality mineral projects, and we are in advanced discussions with prospective partners on several of the properties within our portfolio. In addition to advancing towards a major drill campaign at Madison, we expect to unlock significant value through potential new joint venture partnerships, asset sales and spinouts in the weeks and months ahead."

Planned drill program highlights:

• Porphyry potential at depth: Deeper holes will test geophysical anomalies (induced polarization chargeability highs, magnetic high and low boundaries), interpreted as potential porphyry copper-gold centers beneath skarn horizons.
• High-grade copper-gold skarn targets: Stepout drilling is aimed at expanding known zones of copper-gold mineralization along the Silver Star structural corridor.
• Structural extensions: Infill and extension drilling will target high-grade structures that remain open along strike and at depth.
• District-scale exploration: Several untested geophysical and geochemical anomalies will be tested to evaluate the broader mineralized system, including newly identified mafic intrusion with samples of up to 38.5 grams per tonne gold and 33 grams per tonne silver.

About the Madison copper-gold project

The Madison project was host to small-scale production that concluded in 2012, with 2.7 million pounds of copper produced at grades ranging from 20 to 35 per cent copper. Subsequent drilling at Madison in 2017 included 30.18 metres of 24.50 grams per tonne gold and 0.39 per cent copper and 10.97 metres of 41.65 g/t gold and 0.38 per cent copper (UG17-05 and UG17-06, respectively). Additional production at the nearby Broadway/Hudson mines is reported to total approximately 147,000 ounces gold at 9.9 g/t, and recent drilling has provided substantial evidence to demonstrate a structural and stratigraphic link, located along the same northwest-trending corridor of altered quartz monzonite and associated skarn that is now understood to be a part of the same mineralizing system. Full disclosure can be found in the company's National Instrument 43-101 technical report for the Madison project.

Qualified person statement

Technical aspects of this press release have been reviewed and approved by the designated qualified person under National Instrument 43-101, Eric Saderholm, PGeo, managing director of exploration for the company.

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: a 100-per-cent-owned Palmer project, a volcanic massive sulphide-sulphate project in Alaska, and the 100-per-cent-owned 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 Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories. Also, in American Pacific's asset portfolio are three high-grade, precious metal projects located in key mining districts of Nevada, United States: the Ziggurat gold project, the Gooseberry silver-gold project and the Tuscarora gold-silver project. The company's mission is to expand by the drill bit and by acquisition.