American Pacific Mining Corp. (CSE: USGD) (OTCQB: USGDF) (FWB: 1QC) is pleased to announce the closing of its oversubscribed non-brokered private placement raising gross proceeds of $10,146,000 through the issuance of 10,146,000 units (at $1.00 per Unit.

Each Unit consists of one common share of the Company and one-half of one transferable warrant. Each whole Warrant will entitle the holder to purchase one additional Share of the Company at an exercise price of $1.40 for a period of 24 months from the closing, subject to earlier expiry of the exercise period if, at any time after four months from closing, the closing price of the Shares is greater than $2.00 for ten or more consecutive trading days.

The Company paid finder’s fees of $649,320 and 649,320 finder’s warrants to Clarus Securities Inc., PI Financial Corp., Leede Jones Gable Inc. and Canaccord Genuity Corp. The Finder’s Warrants are non-transferable, exercisable at $1.40 per Share until the Expiry Date and are subject to the Accelerated Expiry Provisions.

All securities issued pursuant to the Private Placement are subject to a four-month hold period.

The Company intends to use the proceeds from the Private Placement for exploration drill programs at the Company’s Gooseberry Silver-Gold project and Tuscarora Gold-Silver project, both in Nevada, plus potential strategic acquisitions and general working capital.

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. For this transaction, American Pacific was selected as a finalist in the S&P Global Platts Global Metals Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories, including ‘Deal of the Year,’ the category in which American Pacific Mining competed. The awards program is hosted by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Also in the American Pacific’s asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project: two high-grade, 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.