American Pacific Mining Expands Tuscarora Project Land Position to 4275 Acres and Commences 17,000 Metre Drill Program

VANCOUVER, Jan. 26, 2022 - American Pacific Mining Corp. (CSE: USGD / OTCQB: USGDF / FWB: 1QC) ("American Pacific" or "the Company") is pleased to announce the expansion of the Tuscarora Gold Project ("the Project") through the staking of an additional 47 claims totaling 971 acres in Elko County, Nevada and plans a CAD $5 million program drilling up to 70 holes (17,000 metres) to test a series of high-grade gold targets at the Project in 2022.

The now 215 claim, 4272 acre Project consists of numerous high-grade gold vein targets, including the Grand Prize Target from which the company reported bonanza grade samples of 21,032 g/t gold ("Au") and 38,820 g/t silver ("Ag") in 2021. (See news release dated September 15, 2021)

Tuscarora 3D model. Jan 2022 Tuscarora Model

"We are excited to begin our 2022 drilling and exploration programs at Tuscarora with a reverse circulation drill already turning on the high-grade Modoc Vein as we await permits for our other priority targets, which we expect to receive in the coming weeks," stated President Eric Saderholm. "The Tuscarora District epithermal veins lie in one of the most intense alteration areas within the State of Nevada and we believe a committed, systematic and dedicated exploration and development approach will vastly increase the size of the district and our understanding of the gold and silver ounces contained within."

The Phase I exploration program includes up to 17,000 metres of drilling focused on numerous exploration targets, including the Modoc Target, the Grand Prize/Payday Targets, the East Pediment Zone, plus additional drilling on the South Navajo Zone. Additional high priority targets are expected to emerge as the newly acquired dataset is evaluated by the Company's geology team and incorporated into the geological model. In addition to drilling, the comprehensive exploration program will include a CSAMT geophysical survey, 1500 soil and geochemical samples and extensive geological modelling to further define the numerous high-grade targets on the Project. The new CSAMT data, which has been highly effective in identifying and targeting vein sets throughout the world, will be sutured into the existing 2019 survey data.

Assays from a previous drill program at American Pacific's existing Tuscarora claims returned high-grade intercepts with 4.57 metres of 127.08 g/t Au, including 1.52 m of 368.31 g/t Au from the South Navajo Zone and 1.52 metres of 52.37 g/t Au from the East Pediment Vein. (See Tuscarora Project page for a complete list of assay results).

AMERICAN PACIFIC MANAGEMENT TO HOST LIVE WEBINAR EVENT:

DATE: Wednesday, January 26th, 2022

TIME: 1:30pm PDT (4:30 EDT)

REGISTRATION LINK: Webinar Registration Link

Qualified Person

Technical aspects of this press release have been reviewed and approved by the designated Qualified Person (QP) under National Instrument 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b4674ad8-1b18-42e5-bbb6-317930ece080