Vancouver, British Columbia–(Newsfile Corp. – May 28, 2024) – American Pacific Mining Corp. (CSE:USGD) (OTCQX:USGDF) (FSE:1QC1) (“American Pacific” or the “Pursue“) is pleased to announce that it has mobilized a drill rig to its Madison copper-gold project (“Madison” or the “Project“) in Montana, in preparation for an initial five-hole, 1,350-metre drill program valued at $1.5 million.

Drilling will focus both on the nearby mine area to extend the known mineralized zone identified by historical drilling which included intercepts of 14.69 metres (“M“) of 12.10 grams per tonne (“g/t“) Gold (“Ouch“) and further down the hole 61.63 m with 6.97% copper (“CuThe Company also plans to test prospective areas identified through the evaluation of extensive historical and current data that have never been drilled.

Phase II will focus on following up on the positive results from Phase I drilling, while testing deeper regional targets in the western part of the project. In this region, historical gold values ​​of up to 48.5 g/t Au have been recorded at surface in undrilled locations, which the Company believes may indicate the presence of a concealed intrusive heat source.

“We are excited to bring a drill rig to Madison in preparation for drilling. Phase I will focus on areas where exceptional copper and gold mineralization has been found in the past,” commented CEO & Director Warwick Smith. “By drilling in the nearby mine area, we aim to confirm and expand this high-grade zone to produce an initial mineral resource estimate for the project. During Phase II, our technical team has identified several promising but untested regional targets that we believe may represent the edge of a larger mineralized system. The upcoming drill program will provide us with the opportunity to evaluate the exploration potential of these high priority target areas. And with a solid financial position, we are in an excellent position to begin this multi-phase drilling campaign as we look to unlock the full value of the Madison copper-gold project.”

Figure 1. Drill rig being set up at Madison site

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The first phase drilling program is expected to last four to five weeks, with assay results expected to be released in the third quarter of 2024.

Company update

The Company also reports that Centerra Gold Inc. has terminated the option agreement that provided the opportunity to acquire 70% of the Ziggurat Project.

The story goes on

Declaration of qualified person

The technical aspects of this news release have been reviewed and approved by Eric Saderholm, P.Geo., a Qualified Person as defined by National Instrument 43-101.

About American Pacific Mining Corp.

American Pacific Mining Corp. is a precious and base metals explorer and developer focused on opportunities in the Western United States. The Company has two flagship assets: the Palmer Project, a volcanic massive sulphide-sulfate (VMS) project in Alaska operated in a joint venture partnership with Dowa Metals & Mining, owner of the largest zinc smelter in Japan, and the Madison Project, a past producing copper-gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist for “Deal of the Year” in both 2021 and 2022 in the S&P Global Platts Metals Awards, an annual program that recognizes exemplary performance in 16 performance categories. American Pacific's portfolio of assets also includes high-quality precious metals projects in key mining districts in Nevada, USA. The Company's mission is to grow through drillers and partnerships that provide shareholders with additional opportunities to discover copper and gold.

On behalf of the Board of Directors of American Pacific Mining Corp:

Warwick Smith, CEO and Director
Headquarters: Suite 910 – 510 Burrard Street
Vancouver, BC, V6C 3A8 Canada

Contact Investor Relations:

Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / Kristina@americanpacific.ca

Contact for media:

Adam Bello, Primoris Group Inc.
416.489.0092 / media@primorisgroup.com

For complete details, please see our NI 43-101 technical report for the project (americanpacificmining.com).

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

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