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American Pacific Provides Update on Fully Subscribed Financing

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Vancouver, British Columbia--(Newsfile Corp. - April 10, 2024) - American Pacific Mining Corp (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC1) ("American Pacific" or the "Company") is pleased to provide an update on its previously announced non-brokered private placement (the "Offering") of up to 22,500,000 units of the Company ("Units") at a price of $0.20 per Unit for gross proceeds of up to $4,500,000. The Offering will now be conducted by way of (i) a private placement pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106") to qualified investors in all the provinces of Canada, and (ii) otherwise in those jurisdictions where the Offering can lawfully be made including the United States under applicable private placement exemptions.

As previously disclosed by the Company, the Offering is fully subscribed. The Company anticipates the Offering will be completed on or around April 16, 2024.

The Company intends to use the net proceeds from the Offering for exploration and development on the Company's Palmer Project, Madison Project, other mineral exploration and development projects, and for general corporate purposes. The Company may pay a finder's fee in connection with the Offering to eligible arm's length finders in accordance with the policies of the Canadian Securities Exchange. Eventus Capital Corp. has been appointed as a Finder in connection with the Offering.

This Offering is being conducted under the listed issuer financing exemption as per Part 5A of NI 45-106 As a result, the securities issued will not be subject to a hold period under the prevailing Canadian securities laws. A Third Amended and Restated Offering Document dated April 10, 2024, related to this Offering is available on the Company's SEDAR+ profile at www.sedarplus.ca and on www.americanpacificmining.com. Potential investors are advised to thoroughly review the offering document prior to making any investment decisions.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.


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