American Pacific Reports High-Grade Drill Results with 10.4 g/t Gold over 12 Metres and 2.09% Copper over 29.7 Metres Within a Larger Mineralized Envelope at Its Madison Project

Vancouver, September 23, 2024 - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC1) ("American Pacific" or the "Company") is pleased to announce additional drill results from the 2024 Phase I infill and extension drill program at its Madison Copper-Gold Project in Montana.

Highlighted results for the final four drill holes from the Phase I program (see Table 1), include:

• APMMAD24-06: 12.34 m of 10.36 g/t Au and 0.88% Cu, including 30.96 g/t Au over 3.66 m
• APMMAD24-07: 22.40 m of 0.63 g/t Au, including 3.05 m of 1.76 g/t Au
• APMMAD24-08: 2.90 m of 3.17 g/t Au and 2.41% Cu
• APMMAD24-09: 3.66% Cu over 8.14 m, 29.72 m of 2.09% Cu and 9.75 m of 1.56% Cu, and 0.40 g/t Au within a broader zone of 0.98% Cu over 75.13 m

Notes: m = metres; Au = gold; Cu = copper; g/t = grams per tonne

"We are thrilled to report these additional results from our Phase I drill program at Madison," commented American Pacific CEO, Warwick Smith. "These high-grade intersections not only confirm, but significantly expand our understanding of the widespread mineralization remaining beyond what was historically mined. These results, combined with our earlier findings, paint an increasingly exciting picture of Madison's potential. The consistency and grade of mineralization we're encountering speaks volumes about the robustness of this system and the results have highlighted open-ended areas to target in Phase II."

The results from Phase I drilling show the open-ended nature of the mineralization to the west, to the south, and at depth. The historically mined mineralization strictly followed the contact of a mapped intrusive body named the Rader Creek Pluton. While this relationship was known to past miners, modern exploration efforts have not adequately tested this contact, extending to the west over 1 kilometre ("km"), and to the southeast over 2 km.

"The Rader Creek contact is virtually untested southward where it shallows into alluvial gravels that were a target for placer miners centuries ago. This presents American Pacific with numerous opportunities to expand the mineralization in the Phase II program, while further defining more regional targets for a Phase III program," commented Eric Saderholm, American Pacific's Managing Director of Exploration.

Table 1. Copper and Gold Drill Results from Holes 06,07,08,09 from the 2024 Phase I Drill Program

Notes: All reported intervals are uncapped downhole core lengths. Sufficient work has not been completed to determine true width for the intervals reported.

See Figures 1-2 and Tables 1-2 for additional information, also the press release dated September 4, 2024, for assay results from the first three drill holes of the Phase I program.

Both epithermal and porphyry-style mineralization have been mapped and mined on the property. The gold and copper mineralization logged in drill hole APMMAD24-06 is interpreted to be related directly to the intrusive/porphyry-hosted mineralization. The intensity of alteration, and high-grade values are both indicators of a potential nearby intrusive heat source. The Phase II program will further test this interpretation and expand the high-grade copper and gold to the west and east. Additional drilling will be planned to extend the historically mined orebody below 130 m (see Figure 3).

Figure 1: Plan map showing copper and gold results from drill holes 24-06, 07, 08, 09

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Figure 2. Section showing multiple copper and gold intervals from APMMAD24-09

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Figure 3. Section showing multiple copper and gold intervals from APMMAD24-06

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Table 2. Drill Collar Data for the Madison Phase I Drill Program

Madison Project Sampling and Analysis Quality Assurance and Quality Control Statement

The Company is committed to maintaining high standards of accuracy and reliability in our sampling and analysis procedures. The following Quality Assurance and Quality Control (QAQC) measures are employed in our sampling and analysis processes.

Analytical Methods for the project include:

1. 50AR-MS - 50 Element Suite using a 0.5g Aqua Regia (AR) digestion followed by ICP-MS (Inductively Coupled Plasma Mass Spectrometry)
2. AUAG-GR30 - Au and Ag Analysis with a 30g fire assay with a gravimetric finish
3. Au-FA30 - Au Analysis using a 30g fire assay combined with AQR digestion, followed by Atomic Absorption Spectroscopy (AAS) or Optical Emission Spectroscopy (OES)
4. OLAR-OES - Over limits Aqua Regia Digestion & Analysis in instances where elemental concentrations exceed standard ranges
5. PA-AU02 - PhotonAssay™ to duplicate gold assays
6. S-LECO - Total Sulfur Analysis using the LECO method

Sampling Methodology:

Whole core sampling has been adopted in specific contexts to mitigate the effects of sample variability and reduce any "nugget" effect.

Quality Control Measures:

To ensure reliability and accuracy stringent QAQC protocols are followed including:

• Use of Certified Reference Materials (CRMs) at a rate of 1:20
• Replicate Analysis are performed to ensure accuracy
• Blanks are inserted at a rate of 1:20

Qualified Person

Technical aspects of this press release have been reviewed and approved by the designated Qualified Person under National Instrument 43-101, Managing Director of Exploration, Eric Saderholm, P.Geo.

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-Sulphate (VMS) project in Alaska, under a joint-venture partnership with Dowa Metals & Mining, owner of Japan's largest zinc smelter; and the Madison Project, a past-producing 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. Also, in American Pacific's asset portfolio are high-grade, precious metals projects located in key mining districts in Nevada, USA, including the Ziggurat Gold project and the Tuscarora Gold-Silver project. The Company's mission is to grow by the drill bit and by acquisition.

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

Full disclosure can be found in our NI 43-101 Technical Report for the Madison Project at www.americanpacificmining.com.

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

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