American Pacific Mining Announces Non-Brokered Private Placement of up to CAD $5 Million

VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQB: USGDF / FWB: 1QC) ("American Pacific" or "the Company") is pleased to announce a private placement (the "Private Placement") of up to 5,000,000 units (the "Units") at a price of CAD $1.00 per Unit for gross proceeds of up to CAD $5,000,000. Each Unit will be comprised of one common share (the "Shares") and one half of one common share purchase warrant (each whole warrant a "Warrant") with each Warrant entitling the holder to purchase one Share of the Company at a price of $1.40 per Share for a period of 24 months from the date of closing of the Private Placement.

In the event that the closing price of the Shares of the Company is at or above $2.00 per Share for a period of 10 consecutive trading days during the Warrant exercise period (with the 10th such trading day hereafter referred to as the "Eligible Acceleration Date"), the Warrant expiry date shall accelerate to the date that is 60 days after the Eligible Acceleration Date.

Up to CAD $5,000,000 of institutional investor interest has already been identified by the Company.

All securities issued will be subject to a four month hold period pursuant to securities laws in Canada. Finders' fees of 7% cash and 7% finder's warrants may be payable to qualified parties.

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, 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. 

On Behalf of the Board of American Pacific Mining Corp.

"Warwick Smith"

CEO & Director

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

Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 / [email protected]

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