American Pacific Mining Provides Madison Project Update

VANCOUVER, Nov. 08, 2021 - American Pacific Mining Corp. (CSE: USGD / OTCQB: USGDF) ("American Pacific" or the "Company") is pleased to provide an update on rock chip, soil samples and drilling at its Madison Copper-Gold Project (the "Madison Project") located in Montana, USA, which is currently under a joint venture earn in agreement with Kennecott Exploration Company ("Kennecott"), part of the Rio Tinto Group, whereby Rio Tinto may earn up to 70% of the project by spending US $30 million.

Madison Copper-Gold Project, Montana

Kennecott geologists collected 61 rock chip samples from a surface trench (MADT0002) designed to cut altered and mineralized exposures on the Madison Project. Trench MADT0002 was excavated across the Jefferson Dolomite-Rader Creek Granodiorite contact approximately 684 metres west of the main Madison Cu-Au skarn. Seven samples define a mineralized zone measuring 20 metres wide. A historical prospect pit prevented sampling the skarn for the interval between 97.7 metres and 104.0 metres.

Figure 1: Google Earth image of MADT0002 location with patented claims
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Eric Saderholm, President of American Pacific stated: "This area lacks historic drilling, however, the highly anomalous geochemistry along this intrusive contact is very encouraging and clearly indicates the potential for expanding skarn mineralization to the west. Skarn bodies very frequently do not have a surface expression, so we rely on advanced geophysical and geochemical tools to pinpoint our exploration efforts in these areas. The 2021 programs which included a detailed magnetic survey and the compilation of the soils and rock data will guide future exploration efforts at Madison."

Table 1: Trench MADT0002 notable channel sample intervals

In addition to the trench samples, Kennecott's geologists also recently collected 347 soil samples from the southern half of the Madison Project. These, combined with 1,330 additional samples previously collected by Broadway Gold, complete a property wide soil sampling program totaling 1,677 samples across a 13 square kilometre area.

Statistical analysis reveals, 98 samples (5.8%) reported Au values greater than 0.11 g/t to a high value of 3.81 g/t Au and 71 samples (4.2%) reported Cu values greater than 0.005% to a high value of 0.370% Cu.

The gold and copper values show strong skarn mineralization to the north, defining the Radar Creek intrusive in contact with carbonates of the Mississippian Madison formation and Devonian Jefferson dolomite. A significant break in both gold and copper values can be seen as a diagonal line across the soil maps, indicating the Silver Star Fault Zone, which is a major regional fault along the same structural trend as the Butte Mine located 48 kilometres to the northwest. A zone of anomalous gold has been identified at the southern extent of the Silver Star Fault, which creates additional drilling targets.

Figure 2: Madison property wide Cu-in-soil plot
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Update on Ongoing Drill Program

An up to 4000 metre drill program is now complete at the Madison Project with Kennecott. Assays are pending from the 2021 drilling at Madison and are expected to be released together later in Q4 of this year.

Sample Security

Measures were taken to ensure sample security. Samples were submitted to the ALS Global lab by company personnel following guidelines and procedures of Rio Tinto Exploration (Kennecott). Only authorized personnel have attended the samples.

Analysis Suite for QA/QC

ALS Global ran ALS Supertrace multielement four acid digest ICP-MS multicollector (ME-MS61L); Au by fire assay (Au-ICP21); RTX pXRF Cr, Nb, Si, Ta, Ti, Y, Zr (p-XRF-30 RT/p-XRF-30NDL); and VNIR/SWIR spectra (TRSPEC-20/INTERP-11).

Audits or Reviews

The results of any audits or reviews of sampling techniques and data were reviewed by Kennecott personnel. Internal review of the soil sampling results by the Company's management is routinely used through the course of the project.

Standards

QA/QC in this batch of 61 samples included two certified reference materials, two coarse blanks, and five field duplicate samples. The standard OREAS 254 was obtained from Ore Research. All QC samples were inserted into the assay stream by KEX personnel prior to shipment to ALS. ALS inserted additional in-lab QC as certified reference materials, prep duplicates and lab repeats.

Qualified Persons

Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo. and Philip Mulholland P.Geo, the designated Qualified Persons (QP) under National Instrument 43-101.

About American Pacific Mining Corp.

American Pacific Mining Corp. is a precious metals explorer focused on opportunities in the Western United States. The Company's flagship asset is the high-grade, past-producing Madison Copper-Gold project in Montana, under option to joint venture with Kennecott Exploration Company, a division of the Rio Tinto Group, which the Company acquired in 2020. Also in the American Pacific's asset portfolio are the Gooseberry Gold-Silver project, the Tuscarora Gold project, and the Red Hill project, three high-potential, precious metals projects located in key mining districts of Nevada, USA. The Company's mission is to grow by the drill bit and by acquisition.

More information about American Pacific and the Madison Project can be found at www.americanpacific.ca.

On Behalf of the Board of American Pacific Mining Corp.

"Warwick Smith"

CEO & Director

Corporate Office: Suite 910 - 510 Burrard Street Vancouver, BC, V6C 3A8 Canada

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

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