American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) is pleased to report results from the final six of eight reverse circulation drill holes completed during Phase I 2025 drilling at the Company’s Madison Project (see press release dated July 10, 2025 for initial results and Figure 1 for Phase I drill hole locations).

Highlights:

• APMAD25-08 intersected three different mineralized zones, with the upper zone returning 44.1 g/t Au over 1.5 m within a broader interval averaging 10.2 g/t Au over 7.6 m, starting from 189.2 m downhole. The second zone returned 4.5 g/t Au and 0.2%Cu over 3.0 m, starting from 230.1 m downhole (see Figure 2).
• APMAD25-08 was a 175 m step-out to the northwest of the historical Broadway Mine area, with very limited drilling in between, highlighting the expanded exploration search space and emerging link between the Broadway and Madison mines.
• APMMAD25-05 extended the copper mineralized envelope down plunge towards the common vector between the Broadway and Madison mines, with 0.5% Cu over 27.4 m and 0.7 g/t Au over 16.8 m (see Figure 2).
• APMMAD25-06 returned significant pathfinder mineralization, including a notable interval of 3.0 m averaging 0.23% Bi with 14.5 ppm Te and 4.5 m of 159 ppm Bi with 63 ppm Te
• APMMAD25-07 and 08 returned further porphyry-style geochemical signatures, including assay values of up to 25.8 ppm Bi with 11.9 ppm Te over 1.5 m

WATCH VIDEO: Technical Fly Through Highlighting Porphyry Signatures & Targeting

Note: m = metres; g/t = grams per tonne; % = percent; ppm = parts per million; Au = gold; Bi = Bismuth; Cu = copper; Te = Tellurium

Warwick Smith, CEO of American Pacific, commented: “Our drilling shows a clear link between the historic Madison and Broadway mines, with the best gold interval from the program highlighting a tremendous opportunity to extend higher grade skarn mineralization along strike at shallower depths and vector towards the porphyry feeder system we believe is responsible for the higher-grade mineralization within the skarn. Our next phase of drilling, set to commence during H2, will use data collected from Phase I drilling to help refine drill targets as we work towards delineating what our team believes could be a substantial buried porphyry.”

WATCH VIDEO: CEO Warwick Smith Speaks to 3D Model Showing Link Between Historic Mine Areas

Eric Saderholm, Managing Director of Exploration, commented: “The Phase I drill results at Madison validate our current geological model and confirm the historic Broadway and Madison mines are structurally and stratigraphically linked within a broader mineralized corridor. This is a revelation that past exploration efforts did not identify. We are very pleased with the strength of the skarn mineralization encountered and the porphyry-style geochemical signatures. These include elevated bismuth tellurides and are but one of the lines of evidence that strongly support the presence of a deeper porphyry system. These mineral assemblages are rare in other geologic settings and are significant pathfinder minerals associated with porphyry and high-temperature skarn systems. Their presence supports the interpretation of a robust mineralizing system at depth and provides strong vectors for targeting the potential porphyry center in upcoming drilling phases.”

Key Observations and Takeaways

The Company’s Phase I 2025 drilling at Madison builds on previous drilling, reinterpretation of historical data and comprehensive 3D geological model work to demonstrate a structural and stratigraphic link between the past-producing Broadway and Madison Mines for the first time in Project history (see Figure 1 and 2).

The two deposits are located along the same northwest-trending corridor of altered quartz monzonite and associated skarn (see Figure 1 below) that is now understood to be a part of the same mineralizing system. Historical mining at Broadway extracted gold grades averaging 9.9 g/t Au for 144,000 ounces (1870-1942)¹ hosted in the contact aureole. Geological continuity has been established between the two mines, expanding the exploration search space and indicating that mineralization extends well beyond the mining limits of both historically mined areas. Strong west, northwest and southwest vectors have emerged, which have not been historically interpreted or tested.

Figure 1: Madison – Broadway Mineralized Corridor and Structural Intersection

Figure 2: Oblique Section (400m width) of Madison and Broadway Mines

Note: Intercepts encountered in drill holes 01, 02, 07, and 08 demonstrate strong continuity of mineralization between the historical Broadway Mine horizon and plunge of mineralization at Madison, supporting the presence of a shared mineralizing fluid pathway that remains open at depth.

Phase I results from the Project have confirmed additional skarn mineralization alongside strong geological indicators consistent with a deeper porphyry system, including alteration assemblages, mineral zoning, and geochemical signatures. These findings reinforce the Company’s interpretation of a larger mineralized system at depth, with structurally controlled pathways offering critical vectors for targeting. The data has significantly refined future drill planning and prioritized the most prospective zones for deeper porphyry-focused exploration.

Historic Material Provides Additional Value Potential

Select holes (03, 04) were located to test areas of historic material from past mining operations at the Project. APMMAD25-03 returned 0.7 g/t Au, 20.8 g/t Ag and 0.3% Cu over 10.7 m from surface, confirming that a substantial portion of the material retains strongly anomalous metal values. Additional grab samples of stockpiled material (9 total samples) ranged from 0.84 to 45.4 g/t Au, 21.3 to 100 g/t Ag and 0.85 to 8.33 % Cu, further demonstrating the potential for material previously considered waste to provide a cash flow opportunity in the future.

Table 1: 2025 Phase I Drill Highlights (grey shaded previously reported July 10, 2025)

Notes: m = metres; Au = gold; Ag = silver; Cu = copper; g/t = grams per tonne; % = percent; (-) = not significant, (*) = remaining historic waste material. Sufficient work has not been completed to determine true widths for the intervals reported. All intervals are reported as depth of sample.

Table 2: 2025 RC Drill Hole Locations

American Pacific Mining is committed to high-quality exploration practices at its Madison Project. Reverse Circulation (RC) drilling was completed, and sampling occurred on five-foot (1.5-meter) intervals, with all drilling, sampling, and logging conducted by qualified personnel. The program included careful planning of drill hole locations, cross-referencing of depths with sample IDs, and rigorous field QAQC protocols, including the insertion of certified reference material, blanks, and field duplicates.

All samples were securely transported to Paragon Geochemical Laboratories to their Sparks, Nevada facility for preparation and analysis. Final assay results and certificates were delivered directly to the Company.

Analytical Methods for the project include:

Paragon Labs

• 50AR-MS: Multi-element analysis (50 elements) using Aqua Regia digestion with ICP-MS for trace elements.
• AuAg-GR30: Gold and silver analysis via 30g fire assay with gravimetric finish for high-precision results.
• Au-FA30: Gold determination using fire assay with Aqua Regia digestion and spectroscopy for detailed concentration measurement.
• OLAR-ASS: Over-limit Aqua Regia digestion ensures accurate results for high-concentration samples.

About the Madison Copper-Gold Project

The Madison Project was host to small-scale production that concluded in 2012, with 2.7 million pounds of copper produced at grades ranging from 20-35% copper. Subsequent drilling at Madison in 2017 included 30.18 metres of 24.50 g/t gold and 0.39% copper and 10.97 metres of 41.65 g/t gold and 0.38% copper (UG17-05 and UG17-06, respectively). Full disclosure can be found in the Company’s NI 43-101 Technical Report for the Madison Project (americanpacificmining.com)

References:

1 Price, B. J. (2005, August 10). Technical report: Madison Gold Property, Silver Star Area, Madison County, Montana, USA (Amended ed.; originally issued April 30, 2005). Vancouver, BC: B. J. Price Geological Consultants Inc. Report prepared for Minera Capital Corp.

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, P.Geo., Managing Director of Exploration for the Company.

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: 100%-owned Palmer Project, a Volcanic Massive Sulphide-Sulphate (VMS) project in Alaska, and the 100%-owned 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 three high-grade, precious metals projects located in key mining districts of Nevada, USA: the Ziggurat Gold project, the Gooseberry Silver-Gold project; and the Tuscarora Gold-Silver project. The Company’s mission is to grow by the drill bit and by acquisition.