Mr. Warwick Smith reports

AMERICAN PACIFIC REPORTS UNDERGROUND ASSAYS FROM BRECCIA PIPE AND DECLINE SAMPLING AT MADISON PROJECT

American Pacific Mining Corp. has released assay results from underground sampling at its Madison copper-gold project in Montana, including results from the recently identified breccia pipe and along the historical mine's decline ramp.

These results follow the company's Feb. 6, 2026, news release, which highlighted the identification of a breccia-hosted zone and an evolving geological model linking shallow skarn mineralization to a deeper porphyry source. The newly reported assays provide direct confirmation of mineralization within this interpreted feeder system and along associated underground development. The Q2 2026 porphyry target drilling will also test the downplunge extent of this interpreted feeder system.

"While we expected to see mineralization in samples collected from the breccia underground, the copper grades we sampled were better than we anticipated," said Eric Saderholm, managing director of exploration. "What surprised us even more were the strong gold and copper values we found outside the breccia, along the main underground access. This tells us the mineralizing system is larger than we thought and extends to the south and west, giving us clearer drill targets for 2026 as we test the potential porphyry source at depth."

Highlights:

• High-grade copper up to 25 per cent, gold up to 3.19 grams per tonne and silver up to 27.2 grams per tonne returned from underground sampling (see Table 1);
• Sampling includes both of the following:
  • Focused coverage of breccia pipe;
  • Systematic sampling along the decline ramp, providing broader context to mineralization showing approximately 150 metres of a mineralized zone;
• Results confirm a vertically and laterally continuous mineralized system.

Sampling demonstrates mineralization beyond a single zone

Underground sampling was designed to evaluate both the breccia pipe and the surrounding decline ramp, providing a more complete understanding of the mineral system.

Key observations include:

• The breccia pipe hosts the strongest grades, with intense alteration and both sulphide- and oxide-rich mineralization.
• Sampling along the decline ramp confirms mineralization extends beyond the pipe, occurring within structurally controlled zones and favourable host rocks.
• Mineralization along the ramp includes disseminated to semi-massive sulphides, consistent with fluid movement along the underground corridor.

This broader sampling approach demonstrates that mineralization is not isolated, but instead part of a continuous hydrothermal system.

Assays support feeder zone interpretation

Results from both the breccia pipe and decline sampling confirm the following:

• A strong copper-gold association;
• Consistent presence of porphyry pathfinder elements;
• Increasing intensity of alteration and mineralization within structurally focused zones.

The breccia pipe is interpreted as a primary fluid conduit while mineralization along the decline ramp reflects fluid dispersion outward from this core structure.

Together, these data support the interpretation of a proximal feeder system linking shallow skarn mineralization to a deeper intrusive source.

Unlocking new areas through seasonal access

Sampling was made possible by a seasonal reduction in groundwater levels, which exposed previously flooded sections of the underground workings. These newly accessible areas are now providing valuable geological and geochemical data that were not available to prior operators.

Next steps:

• Incorporate results into 3-D geological and structural model;
• Refine drill angles below the breccia pipe and along structural corridors;
• Advance coming reverse circulation and diamond drilling program targeting both near-surface and deeper porphyry mineralization.

Madison project sampling and analysis quality assurance and quality control statement

American Pacific Mining is committed to maintaining high-quality exploration and analytical practices at the Madison project. Underground rock-chip and channel samples were collected by company personnel under the supervision of qualified geological staff. Channel samples were collected continuously across measured intervals of approximately 10 feet (3.05 metres) and are considered representative of the mineralization exposed along the sampled channel length. Samples were securely bagged, labelled and transported under chain-of-custody procedures to ALS Global Laboratories Geochemistry, 621 Washington St. S, Suite 600, Twin Falls, Idaho, 83301, United States, an independent ISO/IEC 17025-accredited laboratory.

Samples will be prepared and analyzed using industry-standard analytical methods, including ME-MS41, Au-AA23, ME-OG46 and Cu-OG46. The company will review laboratory internal QA/QC results, including standards, blanks and duplicate analyses. Final assay certificates will be delivered directly to the company by ALS Global Laboratories.

Recent interview on U.S. national television

American Pacific was featured on U.S. national television in a story by the weekly news magazine program Full Measure with Sharyl Attkisson, broadcasted on Sunday, May 3, 2026.

The Full Measure story on the new American gold rush featured expert comment from Mr. Saderholm and reporting from the Madison project in Montana. The TV interview may now be watched on-line on YouTube or on the Full Measure website.

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.

We seek Safe Harbor.