American Pacific Mining Provides Progress Update for Phase I Drill Program at Madison Copper-Gold Project in Montana

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American Pacific Mining (OTCQX: USGDF) reported progress on its ongoing 15,000-metre Phase I drill program at the 100%-owned Madison Copper-Gold Project near Silver Star, Montana. A total of 2,048 metres has been completed, including 1,620 metres of core drilling targeting porphyry mineralization and 428 metres of reverse circulation drilling focused on near-surface skarn and high-grade vein zones.

Initial assay results are expected in the coming weeks, after which an additional 5,000 metres of Phase I drilling is planned to be reported. A Phase II program of up to 7,500 metres is anticipated to begin in fall 2026, following evaluation of Phase I results.

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Vancouver, British Columbia--(Newsfile Corp. - August 13, 2026) - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) (WKN: A422L8) ("American Pacific" or the "Company") is pleased to provide an update on the Company's 15,000-metre drill program at its Madison Copper-Gold Project ("Madison" or the "Project") near Silver Star, Montana.

A total of 2,048 metres has been completed to date, of which 1,620 metres are core holes targeting the porphyry and 428 metres are reverse circulation ("RC") targeting the near-surface skarn expressions and high-grade vein zones. Initial results from assays are expected to be published in the coming weeks, after which a further 5,000 metres of drilling is expected to be reported as part of the Phase I drill program.

"We are pleased with the progress of the Phase I drill program at Madison and are encouraged by what we are seeing in the rocks thus far," commented Eric Saderholm, Managing Director of Exploration. "This Phase I program is testing the majority of our regional targets which are located distal to the known mines in untested areas. Phase II will focus on drilling in areas that return favourable results from this initial 2026 drilling program."

The Phase II drill program at Madison will commence after evaluation of the Phase I results and is expected to include up to 7,500 metres of additional drilling beginning in fall 2026.

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's flagship asset is the 100%-owned past-producing Madison 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. Through a 2025 transaction with Vizsla Copper, American Pacific has established a major equity position with milestone upside exposure to the advanced exploration-stage Palmer Copper-Zinc VMS Project in Alaska. American Pacific also holds a significant equity position in ICG Silver & Gold through a spin-out of the Tuscarora District Project in Nevada. Several additional high-grade precious metals projects located in key mining districts in Nevada remain in the asset portfolio. The Company's mission is to provide shareholders with discovery and exploration upside exposure across its portfolio through partnerships, spin-outs and direct exploration.

American Pacific is incorporated pursuant to the laws of British Columbia and its head office is located at Suite 910 - 510 Burrard Street, Vancouver, BC, V6C 3A8.

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

Warwick Smith, CEO & Director

Corporate Office: Suite 910 - 510 Burrard Street Vancouver, 
BC, V6C 3A8 Canada

Investor relations contact:

Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / Kristina@americanpacific.ca

Media relations contact:

Adam Bello, Primoris Group Inc.
416.489.0092 / media@primorisgroup.com

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.

FORWARD-LOOKING STATEMENTS

This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the Company's planned 2026 exploration campaign.

Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be considered forward-looking information. The Company's forward-looking information is based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release. Other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309383

FAQ

What drilling progress has American Pacific Mining (USGDF) reported at the Madison Copper-Gold Project?

American Pacific Mining has completed 2,048 metres of drilling at Madison. According to American Pacific, this includes 1,620 metres of core targeting porphyry mineralization and 428 metres of reverse circulation drilling focused on near-surface skarn and high-grade vein zones.

How large is the Phase I drill program at Madison Copper-Gold and how much remains?

Phase I at Madison is planned for 15,000 metres of drilling. According to American Pacific, 2,048 metres are complete, with a further 5,000 metres expected to be reported as part of Phase I after initial assay results are received.

When are assay results from American Pacific Mining’s Madison drill program (USGDF) expected?

Initial assay results from Madison are expected in the coming weeks. According to American Pacific, these assays will precede reporting of a further 5,000 metres of Phase I drilling and will guide planning for the subsequent Phase II drill program.

What are the plans for Phase II drilling at the Madison Copper-Gold Project in 2026?

Phase II is expected to include up to 7,500 metres of additional drilling. According to American Pacific, this phase will commence after evaluation of Phase I results and is anticipated to begin in fall 2026, focusing on areas returning favourable 2026 drilling outcomes.

What is American Pacific Mining’s flagship asset and focus as of 2026 (USGDF)?

American Pacific Mining’s flagship asset is the 100%-owned, past-producing Madison Copper-Gold Project in Montana. According to American Pacific, the company focuses on precious and base metals exploration in the Western United States, offering discovery and exploration exposure through partnerships, spin-outs and direct exploration.

Who is the Qualified Person for American Pacific Mining’s Madison drill program disclosures?

The Qualified Person is Eric Saderholm, P.Geo., Managing Director of Exploration. According to American Pacific, Saderholm has reviewed and approved the technical information for Madison in accordance with National Instrument 43-101 disclosure standards for mineral projects.