American Pacific Mining Reports High-Grade Samples, Up to 11.21% Copper, and Verifies Historic Samples Up to 10 g/t Gold at the South Lida Project in Nevada

Rhea-AI Summary

American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF) has reported high-grade copper and gold assays from its South Lida Project in Nevada. A Phase I rock chip sampling program yielded 27 samples, with notable results including 11.21% copper and 4.24% copper from the eastern claim area. Historical data from Sirius Exploration in 2008 showed samples with up to 10 g/t gold. The company has initiated a follow-up sampling program to further explore the mineralization potential of the property.

Positive

• High-grade samples include 11.21% copper and 4.24% copper.
• Previous historical data showed samples with up to 10 g/t gold.
• Company controls all lands with no underlying royalties or agreements.
• Follow-up sampling program initiated to evaluate mineralization.

Negative

• None.

VANCOUVER, British Columbia, June 28, 2022 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / OTCQX: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to report high-grade copper and gold assays from both a Phase I rock chip sampling program and recently acquired historic sampling data at the South Lida Project in Esmeralda County, Nevada.

A total of 27 rock samples were collected during the Phase I program from the claim package staked by the Company earlier this year (see April 5, 2022 news release). American Pacific controls all lands included within this land package with no underlying royalties or agreements.

High-grade samples, including 11.21% copper (“Cu”) and 4.24% Cu were collected from the eastern portion of the claim package during the recent Phase I sampling program. High-grade samples, up to 10 grams per tonne (“g/t”) gold (“Au”), were collected from the same area by Sirius Exploration in 2008 and the results and assay certificates were recently obtained and verified by American Pacific. The results are shown in Table 1.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ecdde4ce-51b3-40f3-908f-697581095157

https://www.globenewswire.com/NewsRoom/AttachmentNg/45bebb0d-9379-4f31-ae79-151592cbd1ac

“We acquired the archived historic South Lida area sampling data, completed by Sirius Exploration in 2008, and immediately acted by staking the ground containing the higher-grade samples,” stated President, Eric Saderholm. “We just received initial Phase I assays which returned highly encouraging grades confirming strong anomalous gold and copper mineralization. Samples LDR22-007 and LDR22-008 are of particular interest to us because they contain 11.21% and 4.24% copper in the area where the sample of 10 g/t gold had previously been collected. A follow-up sampling program is in progress to further evaluate this strongly mineralized property.”

Qualified Persons

Technical aspects of this press release have been reviewed and approved by Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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 / Kristina@americanpacific.ca

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 are the high-grade findings reported by American Pacific Mining Corp (USGDF) at South Lida Project?

American Pacific Mining Corp reported high-grade copper samples of 11.21% and 4.24% from the South Lida Project in Nevada.

When was the high-grade copper and gold assay data released by American Pacific Mining Corp?

The assay data was reported on June 28, 2022.

What historical data supports the recent findings at South Lida Project for USGDF?

Historical sampling by Sirius Exploration in 2008 indicated samples with up to 10 g/t gold in the same area.

What is the next step for American Pacific Mining Corp after the Phase I sampling?

American Pacific Mining Corp has initiated a follow-up sampling program to further assess the mineralization of the property.