23:11:39 EDT Tue 10 Mar 2026
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American Pacific Mining Corp (2)
Symbol USGD
Shares Issued 264,687,956
Close 2026-03-10 C$ 0.18
Market Cap C$ 47,643,832
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American Pacific uses black light scanning for Madison

2026-03-10 17:17 ET - News Release

Mr. Warwick Smith reports

AMERICAN PACIFIC IDENTIFIES NEW GEOLOGICAL ANOMALIES REVEALED IN UNDERGROUND WORKINGS IN ADVANCE OF DRILL PROGRAM AT MADISON COPPER-GOLD PROJECT IN MONTANA

American Pacific Mining Corp. has made a compelling new geological observation from continuing exploration work at its Madison copper-gold project in Montana resulting in the successful application of a fugitive calcite black-light technique in newly revealed underground workings, which has contributed to an increased understanding of the mineralizing system at Madison. Recent fieldwork has taken advantage of a short seasonal window of greater underground access made possible by lower water levels, revealing an additional 150 feet of newly exposed ramp access.

American Pacific's geological team has deployed ultraviolet (black light) scanning to search for fugitive calcite, a technique learned from renowned exploration geologist Dr. Peter Megaw. Under black light, certain calcite populations fluoresce, providing a powerful discriminator within a sea of visually similar non-fluorescent veins. At Madison, this work has already identified at least one distinct population of fluorescing veins among numerous non-glowing vein sets. When these veins are plotted on stereonets, they offer an additional layer of structural information that can further refine vectors toward both porphyry and carbonite replacement deposit targets. This supports the working hypothesis that Madison may host a cluster of porphyries -- multiple sources rather than a single textbook centre -- and provides a new tool set to help unravel this unique mineralizing system.

"The use of ultraviolet lights to detect fugitive calcite is a skill learned while working underground in Utah with Dr. Megaw," commented managing director of exploration Eric Saderholm. "The fluorescence in the calcite indicates the presence of trace amounts of manganese and lead, both of which are indicators of carbonate replacement that can be associated with skarn, CRD and the presence of distal porphyry mineralization. Fugitive calcite represents exhaust proximal to where sulphide mineralization has formed containing stronger metal concentrations. It is a simple and inexpensive, yet highly effective tool for this type of mineral exploration."

American Pacific will provide further updates as additional data are collected, interpreted and integrated into the broader Madison exploration model.

Qualified person

The scientific and technical content of this press release has been reviewed, prepared and approved by Eric Saderholm, PGeo, managing director of exploration for American Pacific, who is a qualified person as defined by National Instrument 43-101.

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's flagship asset is the 100-per-cent-owned past-producing Madison 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. Through a 2025 transaction with Vizsla Copper, American Pacific has established a major equity position 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, some 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.

American Pacific is incorporated pursuant to the laws of British Columbia.

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