Re-Release - Definitive Agreement with Ubica Gold Corp.
NEWS RELEASE
American Pacific Mining Doubles Tuscarora Property Size with New Acquisition and Reports
Bonanza Grade Samples of up to 21,032 g/t Gold and 38,820 g/t Silver
Vancouver, British Columbia / September 16, 2021 - American Pacific Mining Corp (CSE: USGD
/ OTCQB: USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to announ ce
that it has entered into a definitive agreement (the “ Agreement”) with Ubica Gold Corp, (“ Ubica”) a
project generator majority owned by Plethora Private Equity, whereby the Company will acquire the
assets (the “ Transaction”) Ubica owns , being 77 claims at Tuscarora totaling 1, 031 acres. The
Transaction effectively doubles the size of American Pacific’s Tuscarora land package adding 76
unpatented and 1 patented claims.
The Company also announces high-grade rock chip and grab samples collected from the newly expanded
land package at its Tuscarora Gold Project (the “ Tuscarora Project”). A total of 135 samples were
collected from several targets, ten of which returned Bon anza grades of over 34 grams per tonne (g/t)
gold (Au), including a sample of 21,032 g/t Au (676.19 ounces per US ton) and 38,820 g/t silver (Ag)
(1248 ounces per US ton) or 5.9% precious metals content, from surface at the Grand Prize Target.
Figure 1: Electrum in Bladed Quartz from the Grand Prize Vein
Figure 2. American Pacific original property claims (blue), plus newly acquired claims (yellow), and
highlighted sample results.
Other sample highlights include 882 g/t Au and over 10,000 g/t Ag at the Argenta Target and 2,820 g/t
Au and 1,460 g/t Ag at the Modoc Target.
Target Name Gold g/t Silver g/t
Grand Prize 21,032 38,820
391 >10,000
19.45 >10,000
3.32 432
Argenta 882 >10,000
24.60 3,610
18.70 4,010
7.36 1,609
Target Name Gold g/t Silver g/t
6.60 4,680
Modoc 2,850 1,460
150.50 2,380
121 118
98.50 54
85.90 78
51.70 139
44.10 88
30.30 412
Young American 116.50 743
10.20 473
9.38 1,850
1.87 945
Unnamed 1 32.70 29
2.27 8
Unnamed 2 11.50 14
2.98 20
Figure 3: Gold in Sugary Quartz from the Grand Prize Vein
Figure 4: Banded Electrum and Silver Sulfosalts, Argenta Vein
Figure 5: Disseminated and Speckled Gold in Banded Quartz, Young American Vein
Assays from a previous drill program at American Pacific’s existing Tuscarora claims returned high-
grade intercepts as high as 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 Zone. (See Tuscarora
Project page for a complete list of assay results).
The surface exposed mineralized veins on the newly acquired claims extend onto American Pacific’s
existing claims where mineralization is under gravel cover. The surface exposure lends itself to surface
sampling as an effective exploration targeting tool. Evaluation of priority targets is underway in advance
of a drill program targeted to commence late 2021 at the newly expanded Tuscarora project.
The team at Ubica has done an excellent job negotiating and consolidating these claims. This will be the
first time the consolidated Tuscarora district will see extensive modern exploration.
“This very important acquisition adds significant value to our Tuscarora Project,” stated American
Pacific President, Eric Saderholm. “These samples show the bonanza grades that these veins can host,
and importantly, these high-grade values are broadcast throughout the property and not along one single
vein. This suggests the potential to greatly expand upon mineralization we have discovered in the past
and map the full vein extent across this large property package in advance of drill campaign later this
year, or early in 2022. Using this data we will update our 3D model and begin the permitting process to
commence a Q4, 2021 drill program.”
Webinar Playback Link
The Company hosted a Zoom Webinar Wednesday, to discuss this latest transaction, as well as p rovide
an update on recent activities at each of the Company’s other projects. Investors may watch the webinar
playback by clicking the link below:
WEBINAR PLAYBACK
Transaction Terms
Pursuant to the terms of the Agreement, upon the closing of the Transaction, American Pacific will
acquire the 77 claims at Tuscarora totaling 1,031 acres in consideration for: (i) the issuance of 3,700,000
common shares of the Company (the “Payment Shares”) to Ubica and (ii) a cash payment of $800,000.
The Payment Shares will be subject to voluntary hold periods, with 25% of the Payment Shares released
on the closing date and an additional 25% released every 6 months thereafter until all Payment Shares
have been released.
The Transaction is subject to customary closing conditions.
About Tuscarora Gold-Silver Project-Nevada, USA
Tuscarora is located in northern Nevada, 70km northwest of Elko and 20km west of the Jerritt Canyon
Mine. It is a low-sulphidation epithermal system with multiple structurally controlled veins identified at
surface. Extensive shallow and vertical drilling , testing for near -surface mineralization for heap leach
processing was done during the 1980s and historical exploitation dates back to early 20th century via a
series of vertical shafts; however, depth was limited by the water table. Two distinct deposit types exist
at Tuscarora, including high Ag/Au ‘Silver Zone’ in the northeast with narrow alteration and low Ag/Au
‘Gold Zone’ in the south and southwest with widespread alteration.
Qualified Person
Technical aspects of this press release have been reviewed and approved by Phil Mulholland, P.Geo and
Eric Saderholm, P.Geo., the designated Qualified Persons (QP) under NI 43-101.
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 has been
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 is competing. The awards program is hosted by S&P Global Platts, the
leading independent provider of information and benchmark p rices for the commodities and energy
markets. Also in the American Pacific's asset portfolio are the Gooseberry Gold -Silver project and the
Tuscarora Gold 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 Pill on, President, High Tide Consulting Corp., 604.908.1695 /
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