American Pacific Mining Corp. reported 2023 drill plans and the final compilation of the 2022 soil geochemistry and integrated CSAMT geophysics for target generation at the Gooseberry Project, Storey County, Nevada. Highlights: The 2023 drilling program has been updated and re-permitted to test emerging targets generated by soil geochemistry and integrated CSAMT geophysics completed in 2022.

Approximately 15 holes of up to 3048 metres (10,000 feet) of Phase II reverse circulation drilling is scheduled to commence in Q1, 2023. 2,889 soil samples were collected during the 2022 field season for silver (“Ag”) and gold (“Au”) analysis. Assay results have been received and compiled into the Gooseberry exploration database.

American Pacific's geologists have incorporated all available discovery techniques to further refine the 2023 drilling targets. The Company has now received permits for a 2023 program that is expected to include approximately 15 drill holes for ~3,000 metres (~10,000 feet) of drilling along the extension of the Gooseberry Vein and the Elderberry and Strawberry Zones. About The Gooseberry Project: Historical exploration in this region of the Ramsey Mining District was largely confined to the east and west projections and possible extensions of the existing Gooseberry Vein.

Minimal efforts were given to the parallel or cross-cutting veins and structures. No historical, property-wide geochemical or geophysical work has been documented. American Pacific is committed to systematic exploration and evaluation of the entire Property and believes this approach has the potential to demonstrate significant exploration upside well beyond the area that hosted past production.

This thorough approach utilizes the historically proven techniques, including mapping; rock sampling; soil geochemistry and air-photo stereoscope structural work. Additionally, this comprehensive effort incorporates more modern exploration tools, including clay species spectral analysis; CSAMT geophysics and satellite imagery. These specialized exploration techniques were poorly developed or unavailable during previous mining and development activities.

Mineralization at the Property is comprised of high-level epithermal gold and silver-bearing quartz/carbonate veins, which have been emplaced in intermediate volcanic lavas and tuffs within the Miocene Alta and Kate Peak Formations. The large, historic Comstock Lode districts located 17 kilometres southwest of the Property was formed within rocks of similar composition and age. The Comstock Mines produced 8 million ounces of gold and 270 million ounces of silver in the late 1800s.

The Gooseberry Vein was discovered in 1906. Larger scale mining efforts began on the property in 1975 and were terminated in early 1992. American Pacific resumed exploration activities in 2021.