Mr. Warwick Smith reports

AMERICAN PACIFIC ENGAGES DRILL CONTRACTORS AHEAD OF FULLY-FUNDED 15,000-METRE PROGRAM AT THE MADISON COPPER-GOLD PROJECT

American Pacific Mining Corp. has secured drilling contracts with two contractors to complete phase I of a combined reverse circulation (RC) and diamond core program totalling approximately 15,000 metres during 2026 at its Madison copper-gold project in Montana, scheduled to commence in May.

The upcoming campaign is the largest co-ordinated drill program initiated by the company at Madison, and is designed to systematically extend and expand on shallower high-grade copper and gold mineralization, and test deeper porphyry discovery targets.

For the RC portion, the company has engaged O'Keefe Drilling based in Butte, Mon. For the diamond core portion of the program, the company has engaged Nasco Industrial Services and Supply LLC (NISS), on behalf of itself or its wholly owned subsidiary, NISS Drilling Services LLC, based in Kellogg, Idaho. Utilizing both RC and diamond drilling methods will optimize costs, improve efficiency and accelerate target testing across multiple zones.

RC drilling will be used for rapid, cost-effective testing of near-surface skarn targets and to establish precollars for deeper core hole tails, while diamond drilling will focus on testing high-priority porphyry targets at depth.

The program is designed to test two complementary opportunities: expansion of known copper-gold skarn mineralization near surface and potential discovery of a larger intrusive-related copper-gold porphyry source at depth. Recent technical work supports the interpretation that Madison represents a broader evolving mineralized system than historically recognized.

The program will test up to eight of the highest-priority skarn and porphyry targets that represent the most informed drill targets ever defined at the project. These targets are the culmination of extensive technical work that has integrated:

• Detailed geological and structural mapping;
• Reinterpretation of historical drilling and surface geochemistry;
• High-resolution geophysics;
• Advanced 3-D modelling and data analytics.

"With drills now secured, we look forward to commencing our upcoming 15,000-metre drill program aimed at testing the most compelling skarn and porphyry targets we've ever defined," commented chief executive officer and director Warwick Smith. "These targets are the product of extensive data compilation, careful interpretation of both historical and more recent work, and 3-D modelling. Our team is eager to start validating the geological picture we see in our modelling."

The drill program will commence with RC drilling, followed shortly thereafter by diamond core drilling, allowing for continuous progress, efficient target advancement and a steady cadence of operational updates as the campaign progresses. Mobilization of the first rig is expected in May, with initial results anticipated later this summer. The company will provide further updates as drilling commences and progresses.

Corporate update

As of May 1, 2026, Joness Lang's title and role have shifted from president and director to senior strategic adviser and independent director. Mr. Lang remains an insider and key contributor to growth strategy and corporate development initiatives.

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 Mining is a precious and base metals 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 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 with milestone upside exposure to the advanced exploration stage Palmer copper-zinc VMS (volcanogenic massive sulphide) project in Alaska. American Pacific also holds a significant equity position in ICG Silver & Gold through a spinout of the Tuscarora district project. Several additional high-grade, precious metals projects located in key mining districts in Nevada remain in the asset portfolio. 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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