Mr. Warwick Smith reports

AMERICAN PACIFIC ANNOUNCES NON-BROKERED LIFE FINANCING OF UP TO $7.5 MILLION

American Pacific Mining Corp. has arranged a non-brokered private placement offering of up to 34,090,909 units at a price of 22 cents per unit, for aggregate proceeds of up to $7.5-million. Each unit will consist of one common share in the capital of the company and one-half of one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 32 cents per warrant share for a period of three years from closing.

The units will be offered for sale to purchasers resident in certain provincial jurisdictions of Canada pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions), as amended by Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The securities issuable from the sale of units under the listed issuer financing exemption will not be subject to a resale hold period.

The offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The units may also be offered in the United States or to, or for the account or benefit of, U.S. persons pursuant to exemptions from the registration requirements provided for under the U.S. Securities Act of 1933, as amended, and the regulations thereunder, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. All securities not issued pursuant to the listed issuer financing exemption will be subject to a hold period of four months under applicable securities laws in Canada, in addition to any resale restrictions applicable in the purchaser's jurisdiction.

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

Completion of the offering is subject to certain customary closing conditions, including, but not limited to, receipt of all necessary regulatory approvals, including any applicable approval of the Canadian Securities Exchange.

About American Pacific Mining Corp.

American Pacific is a precious and base metal explorer focused on opportunities in the western United States. The company's flagship asset is the 100-per-cent-owned past-producing Madison copper-gold project in Montana. For the acquisition of Madison, 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. Through a 2025 transaction with Vizsla Copper, American Pacific has established a major equity position and secured $15-million in aggregate milestone upside exposure to the advanced-exploration-stage Palmer copper-zinc volcanogenic massive sulphide project in Alaska. Also, in American Pacific's portfolio are several high-grade, precious metal projects located in key mining districts in Nevada, on which the company intends to transact. The company's mission is to provide shareholders discovery and exploration upside exposure across its portfolio through partnerships, spinouts and direct exploration.

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