American Pacific Mining Corp (CSE: USGD) (FWB: 1QC) (OTCPK: USGDD) announces that, further to its news release of May 25, 2021, it has closed its non-brokered private placement issuing a total of 8,181,964 units at CAD$0.125 per Unit for total gross proceeds of $1,022,746 with a strategic investor, Michael Gentile, CFA.

Warwick Smith, CEO of the Company, commented: “We are thrilled with the addition of Michael Gentile as a strategic investor as exploration and drilling ramps up at our Madison Project.”

Each Unit is comprised of one common share and one transferable common share purchase warrant with each Warrant entitling the holder to purchase one additional Share of the Company at a price of $0.16 per Share for a period of two years.

All securities issued will be subject to a four month hold period pursuant to securities laws in Canada.

The Company intends to use the proceeds from the Private Placement for exploration of the Company’s portfolio of resource properties and for general working capital. No finder’s fees were paid in connection with the Private Placement.

Calculated on a partially-diluted basis (i.e., assuming full exercise of all Warrants and no other issuances of Shares by the Company), Mr. Gentile now owns 19.99% of the Company’s issued and outstanding Shares.

The Company also announces that, subsequent to the announcement of the Private Placement, it has received aggregate proceeds of $1,474,766 from the exercise of 7,364,692 Warrants.

22,343,735 Warrants remain outstanding with strike prices of $0.20 and $0.25 expiring on November 22, 2021 and December 25, 2021, which could potentially generate an additional $4,714,515.80 in cash proceeds if fully exercised.

Following closing of the Private Placement the Company is in a strong financial position with over $3,432,757 in cash.

Michael Gentile, CFA

From 2003 to 2018 he worked as a professional money manager at Formula Growth Ltd., an independent investment management firm established in Montreal in 1960. While at Formula Growth, Mr. Gentile’s main sector focuses were in mining and natural resources. In 2012, he became the co-manager of the Formula Growth Alpha Fund, a market neutral hedge fund focused on small to mid-cap equities. In October 2018, Mr. Gentile retired from full time money management to be able to spend more time with his family. Subsequently, he has remained a very active and strategic investor in the junior mining sector owning significant top 5 stakes in over 15 small cap-mining companies. Michael is currently a strategic advisor to Arizona Metals (AMC-V) and a director of Northern Superior Resources (SUP-V), Roscan Gold (ROS-V), Radisson Mining Resources (RDS-V) and Solstice Gold (SGC-V).

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 has been 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 is competing.  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 Gold-Silver project and the Tuscarora Gold 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.