American Pacific Mining Announces the Expansion of Lode Claims and Plans an Exploration Program at its South Lida Project in Nevada

Rhea-AI Summary

American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has expanded its South Lida Project in Nevada by staking an additional 64 claims, bringing the total land package to 1,500 acres. A new sampling program is set to evaluate these claims, contributing to an updated NI 43-101 Technical Report expected later this year. Historical sampling has returned significant gold, silver, and copper values, indicating the project's potential. The company seeks a joint venture partner to advance exploration activities.

Positive

• Expanded land package at South Lida Project to 1,500 acres by staking 64 additional claims.
• Planned sampling program anticipated to identify new targets and support future technical reporting.
• Historical sampling indicated substantial mineralization: up to 11.45 grams/ton gold, 1,280 grams/ton silver, and 20.8% copper.

Negative

• None.

VANCOUVER, British Columbia, April 05, 2022 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF / FWB: 1QC) (“American Pacific” or “the Company”) is pleased to announce that it has expanded its South Lida Project land package in Nevada to 1,500 acres by staking 64 additional claims.

An initial sampling program is planned to evaluate the new claims and to identify new targets on the property and data collected will be included in an updated NI 43-101 Technical Report (“NI 43-101”) expected later this year.

The Project is being explored as a sediment hosted, Carlin-type, structurally controlled epithermal gold system. The Project is in western Nevada where the southern part of the Walker Lane structure merges with the Owens Valley and Furnace Creek faults. The Walker Lane is a major northwest-southeast-trending structural zone that hosts a variety of precious metal and base metal mineral deposits.

“Historical sampling at South Lida has yielded gold values of up to 11.45 grams/ton gold, 1,280 grams/ton silver and 20.8% copper so it is clearly a property of merit. The presence of multiple intermediate to basic dikes, quartz veins and abundant jasperoids show both epithermal and Carlin-style mineralization signatures. The 2022 program will include outcrop and float sampling, geologic mapping and a gravity survey which will define drill targets and support further exploration efforts,” stated American Pacific President, Eric Saderholm.

Figure 1: South Lida Project Location Map
https://www.globenewswire.com/NewsRoom/AttachmentNg/c2a07fff-5ce5-4dcd-ba9d-8f436d3b1edf

Image 1. Jasperoid Mineralization
https://www.globenewswire.com/NewsRoom/AttachmentNg/18d037e0-93c9-463e-a6cc-6edadf5962ad

Image 2. South Lida Physiography
https://www.globenewswire.com/NewsRoom/AttachmentNg/52d3b375-2118-48bc-959c-d361f36edd1d

American Pacific intends to find a joint venture partner to advance South Lida. Interested parties are encouraged to reach out to the Company.

Qualified Person

Technical aspects of this press release have been reviewed and approved by the designated Qualified Person (QP) under NI 43-101, Eric Saderholm, P.Geo.

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

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

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FAQ

What recent developments occurred at American Pacific Mining Corp's South Lida Project (USGDF)?

American Pacific Mining Corp expanded the South Lida Project by staking 64 additional claims, increasing its land package to 1,500 acres.

What are the expected outcomes of the new sampling program for South Lida Project (USGDF)?

The sampling program aims to evaluate the new claims, identify targets, and will be included in an updated NI 43-101 Technical Report later this year.

What significant mineral values were found at South Lida Project (USGDF)?

Historical sampling revealed gold values up to 11.45 grams/ton, silver up to 1,280 grams/ton, and copper at 20.8%.

Is American Pacific Mining Corp looking for partnerships for the South Lida Project (USGDF)?

Yes, the company intends to find a joint venture partner to advance the exploration efforts at the South Lida Project.