Vancouver, British Columbia / October 18, 2023 – American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to announce that initial assay results continue to highlight the copper-zinc rich nature of mineralization at the Palmer Project (“Palmer” or the “Project”). Palmer is an advanced-stage, high-grade volcanogenic massive sulphide-sulphate deposit (“VMS”) located in the Porcupine Mining District of the Haines Borough, Alaska, US. Constantine North Inc., a subsidiary of American Pacific, is the operator for the Project and the US$25.5 million 2023 program has been funded by joint venture (“JV”) partner Dowa Metals & Mining Co., Ltd (“Dowa”).

The Company has received complete assay results for seven (7) of the 23 drill holes completed as part of the 2023 resource definition drilling at the Southwall Zones of the Palmer deposit (see Figure 1).

Highlights:
CMR23-153 (upper zone 1) intersected 23.4 metres (“m”) of 1.78% copper (“Cu”) and 13.73% zinc (“Zn”) with elevated gold, silver and barite values (see Table 1), including 30.16% Zn over 6.2 m (see Photo 1).
CMR23-152 (upper zone 1) intersected 14.8 m of 1.26 % Cu and 7.68 % Zn, including up to 7.48% Cu over 1.1 m.
Zone 1 infill assay results to-date have exceeded expectations with higher grades and mineralized thickness than currently modeled in the eastern portion of the deposit.
CMR23-157-01 (lower zone 2-3) intersected 22.9 m of 2.18 % Cu, including 4.23 % Cu over 5.3 m; demonstrating the potential for significant copper grades and thickness.
The assay results from these initial infill diamond drill holes are encouraging and support the mineral resource definition in the Southwall.
“The 2023 resource definition and geotechnical drilling programs at our Palmer project have been successfully completed,” stated Warwick Smith, CEO of American Pacific. “We are pleased that significant semi-massive and massive sulphide mineralization has been observed within the upper (Zone 1) and lower (Zone 2-3) VMS lenses of the Southwall Zone at the Palmer deposit. Initial assay results continue to highlight the copper-zinc-rich nature of the Palmer deposit and we look forward to receiving and reporting additional assay results in the coming weeks.”

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