Second Drill Rig Arrives at American Pacific Mining's Madison Copper-Gold Project and Commences Drilling Near-Surface Skarn Targets

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American Pacific Mining (OTCQX: USGDF) reported that a second reverse circulation drill rig has arrived and begun drilling near-surface skarn targets at its 100%-owned Madison Copper-Gold Project in Montana. The rig forms part of a fully funded, 15,000-metre 2026 drill program that started in early June and includes both RC and diamond core drilling.

The campaign is designed to test near-surface skarn targets and deeper porphyry-style mineralization. According to the company, near-surface work aims to support a first mineral resource estimate targeted for 2027, while core drilling continues to evaluate deeper system-scale copper-gold potential.

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Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC) (WKN: A422L8) ("American Pacific," or the "Company") is pleased to announce that a second drill rig has arrived on site and is now turning at its 100%-owned Madison Copper-Gold Project ("Madison" or the "Project") in Montana to test near-surface skarn targets.

The reverse circulation ("RC") drill rig commenced drilling as part of the ongoing, fully-funded 15,000-metre program, which includes both diamond core and RC drilling, that began in early June (see June 1, 2026 news release). The 2026 drilling campaign at Madison is designed to aggressively test both near-surface skarn targets and deeper porphyry-style mineralization that management believes has the potential to underpin a large copper-gold system.

The RC drill will focus on rapid, cost-effective testing of a series of near-surface skarn targets that share key geological characteristics with the historic Madison and Broadway Mine footprint, an area with a history of high-grade copper and gold production. These targets are designed to build on past work and aim to identify additional shallow, potentially high-grade mineralization that could contribute to the first mineral resource estimate targeted for 2027. Success in this phase of the program could demonstrate the potential to grow the known mineralized footprint around the existing skarn system.

The staged RC and core strategy is intentionally designed to advance near-surface target testing in parallel with deeper system-scale exploration, providing investors with exposure to both potential shallow ounces and larger porphyry-style upside within the same drill program.

Image 1: O'Keefe Drilling testing the first RC hole (Hole ID M26RC-01)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10322/304730_ecc49372b4e66bf8_001full.jpg

"With RC drilling now underway to test multiple near-surface skarn targets and the core rig already stepping into the deeper porphyry environment, we are now in a position to generate steady results through the summer and, we hope, demonstrate the true scale of this system," commented Managing Director of Exploration, Eric Saderholm. "If we are successful in extending the known mineralization and vectoring into a larger copper-gold system, we believe Madison has the potential to become a cornerstone asset that can drive meaningful value for our shareholders."

See the June 1, 2026, news release for full details of the 15,000-metre drill program. Additional updates will be provided as drilling advances.

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/304730

FAQ

What did American Pacific Mining (USGDF) announce about drilling at the Madison Copper-Gold Project on July 13, 2026?

American Pacific Mining announced that a second reverse circulation drill rig has arrived and started drilling near-surface skarn targets at Madison. According to the company, this rig is part of a fully funded 15,000-metre 2026 drill program testing both shallow skarn and deeper porphyry-style targets.

How large is the 2026 drill program at American Pacific Mining’s Madison Project (USGDF)?

The 2026 drill program at Madison is planned for 15,000 metres of drilling. According to American Pacific Mining, the fully funded campaign combines reverse circulation and diamond core drilling to test near-surface skarn targets and deeper porphyry-style copper-gold mineralization.

What is the purpose of the new reverse circulation drill rig at Madison for American Pacific Mining (USGDF)?

The new reverse circulation drill rig is intended to rapidly and cost-effectively test near-surface skarn targets. According to American Pacific Mining, these targets share geological traits with the historic Madison and Broadway Mine area and may help identify shallow mineralization for a future resource estimate.

How does American Pacific Mining plan to advance exploration at Madison (USGDF) in 2026?

American Pacific Mining is using a staged strategy combining RC and core drilling at Madison. According to the company, RC drilling focuses on near-surface skarn targets, while a core rig steps into deeper porphyry-style targets, aiming to explore both shallow and system-scale copper-gold potential in parallel.

When does American Pacific Mining expect the first mineral resource estimate for the Madison Project (USGDF)?

American Pacific Mining is targeting 2027 for the first mineral resource estimate at Madison. According to the company, current near-surface skarn drilling is designed to build on past work and potentially contribute to this initial resource, subject to exploration results and further evaluation.

Who is the Qualified Person for American Pacific Mining’s Madison drill program (USGDF)?

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