Arcpacific Cuts New Mineralized Shear- Zone and Veining IN Southern Step-Out at Rickard GOLD Project

810 – 789 West Pender Street, Vancouver, BC V6C 1H2

Tel: 604-687-2038 Fax: 604-687-3141

NEWS RELEASE

TSX Ventures Exchange Symbol: ACP

June 02, 2021

ARCPACIFIC CUTS NEW MINERALIZED SHEAR-

ZONE AND VEINING IN SOUTHERN STEP-OUT AT

RICKARD GOLD PROJECT

Vancouver, BC ‐ ArcPacific Resources Corp. (“ACP ” or the “ Company ”) (TSX-V: ACP ) is

pleased to announce it has intersected a new mineralized shear structure (the “Triple X” structure)

and new quartz-carbonate veining in hole 17 (ACP-R-21017) on a 200 metre southern step-out at

the Rickard gold project (the “Property”) near Timm ins, Ontario. Hole 16 (ACP-R-21016), the

westernmost hole in the Rickard Main Zone also cont inued to intersect wide zones of alteration

and quartz-carbonate veining with visual sulphide m ineralization including pyrite, chalcopyrite,

black fine-grained sulphides with molybdenite and a possible telluride mineral (see Figure 1). All

holes drilled to date in the phase 1 program succes sfully intersected zones of quartz-carbonate

veining related to shear zones and the system remains open in all directions.

Highlights:

 Newly identified, heavily altered and mineralized T riple X shear-zone suggests a long-

lived, deeply seated and complex structural history creating ideal environment for gold

deposition.

 New veins identified in the southern step-out (hole 17) show potential for multiple new

zones to be discovered indicating that the system remains open in all directions.

 Detailed modeling of new information is now underwa y which could lead to additional

mineralized zones that have not yet been discovered.

 Assay results for the first several holes are anticipated to be received and released within

the coming weeks.

Adrian Smith, CEO of ACP comments: “We are pleased to see the continuation of the quartz-

carbonate veining with impressive visible sulphide mineralization in hole 16, leaving the Rickard

Main Zone open in all directions.

We are also excited to discover the first north-south oriented shear structure intersected in hole 17,

newly named the Triple X structure. This newly identified structure confirms our suspicions about

the Rickard Main Zone veins’ extensional nature and highlights the long-lived and multi-phase

deformation and hydrothermal activity at the project. The discovery of these north-south oriented

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structures also further opens the possibilities for multiple north-south shear structures and new

extensional mineralized zones to be discovered within the project area.”

Hole 16 was drilled from the westernmost pad in the phase 1 drilling program at a minus 65-degree

dip and intersected 3 main intervals of variably mi neralized quartz-carbonate veining, with

associated albite-sericite-silica alteration halos. These veins occurred from 72.5 metres to 121.2

metres down hole within wider zones of quartz, quartz-carbonate, and carbonate stringers. Strong

sulphide mineral assemblages are locally present in the veins with pyrite, chalcopyrite, and black

fine-grained sulphides with molybdenite and a possible telluride mineral (see Figure 1).

Figure 1: Hole 16 (ACP-R-21016) at 81.10 metres showing bands of sulphides with pyrite and chalcopyrite

within a quartz-carbonate vein including a possible telluride mineral.

Hole 17 was drilled at a minus 55-degree dip on a g reater than 200 metre step-out to the south

from the previous holes at the Rickard Main Zone an d intersected a newly identified and

mineralized deformation-zone or shear-zone newly named the Triple X structure (see Figure 2).

Hole 17 also intersected two new zones of quartz-carbonate veining associated with strong albite-

sericite-silica alteration and variable sulphide mi neralization (see Figure 3). It is likely that the

east-west oriented veins are closely related and are syn-formational to the north south shear zones

forming a complex network of shearing and veining that remains open across the property.

The newly identified Triple X shear-zone was inters ected at a shallow angle over 33-meters

downhole and may be one of several such zones orien ted in a general north-south orientation.

Massive to semi-massive zones of pyrite and pyrrhotite were also identified in hole 17, as well as

pervasive albite-silica-sericite-pyrite alteration completely overprinting the clasts and matrix

within the Triple X zone. Multiple phases of intermediate to felsic dykes were also encountered in

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hole 17 including felspar porphyry which emphasizes the extensional environment in the project

area, creating ideal conduits for multi-phase intrusive activity and abundant fluid flow.

Figure 2: Hole 17 (ACP-R-21017) at 168.6 metres sho wing foliation in complex silicified shear-zone

incorporating heavily altered wall rock and breccia ted vein material as well as massive sulphides bein g

pulled apart and infilled with quartz-carbonate and carbonates.

Shearing textures such as folded and deformed quart z veinlets and sulphide stringers and

separately crosscutting veins showing brittle offset and segmented features indicate that the shear-

zones on the Property were long-lived through the ductile-brittle transition implying a deep-seated

nature. These structures likely represent second or third order structures to the regional scale North

Pipestone Break which is a first order splay off the prolific Porcupine-Destor Fault. The pervasive

hydrothermal alteration overprinting most textures within the shear zone and vein halos indicates

that these structures not only accommodated movement but acted as fluid conduits and represents

an ideal environment for gold transport and deposit ion. It is possible that the brecciated quartz-

carbonate vein fragments observed in the Triple X s tructure formed as fault-fill veins or shear

veins (see Figure 2) making north-south oriented st ructures on the Property a priority target for

phase 2 drilling.

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Figure 3: Hole 17 (ACP-R-210017) at 217.0 metres sh owing quartz-carbonate vein with wavy stylolitic

bands of pyrite molybdenite chalcopyrite and blebby chalcopyrite and pyrite with sericitic lenses.

Drill hole locations for holes 1 through 17 can be seen on the Company’s website on the Rickard

project page . Results from the phase 1 program will be incorporated into the Company’s expanding

3D project model which will provide a better unders tanding of the geological and structural

controls on mineralization, and will enable the Company to plan for a potential ramped up phase

2 program.

Initial results are anticipated to be released as t hey become available within the coming month.

Additional pictures of the core have also been uploaded to the Company’s website on the Rickard

Gold Project page .

The Property covers a prospective 5,656 hectares of the Abitibi Greenstone Belt located

approximately 70 kilometres from the town of Timmin s in the Timmins Gold Camp which has

produced over 80 million ounces of gold over the last 100 years. The Property is road accessible

and sits within 25 to 60 kilometers of six currentl y producing gold mines and eight previous

producers. Large areas of the Property remain untested and under cover.

Disclosure

Apparent widths of veins intersected are estimated to be 80% of true widths in holes ACP-R-21016,

and true widths are unknown in hole ACP-R-21017.

Adrian Smith, P.Geo., is a QP as defined by National Instrument 43-101 for the above-mentioned

project. The QP is a member in good standing of the Professional Geoscientists Ontario (PGO)

and is a registered Professional Geoscientist (P.Geo.). Mr. Smith has reviewed and approved the

technical information disclosed above.

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About ArcPacific Resources Corp.

ArcPacific Resources Corp. (TSX-V: ACP) is a Canadian based exploration company expanding

the exploration initiative at multiple historic past producing gold and silver mines in the Timmins

Gold Camp, Ontario, and in the Nicola Mining Divisi on in Southern British Columbia. The

Company is focused on creating shareholder value th rough new discoveries and strategic

development of its mineral properties. For further information, please visit

http://www.arcpacific.ca .

ON BEHALF OF THE BOARD OF DIRECTORS

/S “Adrian Smith”

CEO and Director

The forward-looking statements contained in this pr ess release are made as of the date hereof and

ArcPacific Resources Corp. undertakes no obligation s to update publicly or revise any forward-looking

statements or information, whether as a result of n ew information, future events or otherwise, unless so

required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts respo nsibility for the adequacy or accuracy of this

release.

For further information, please contact us at [email protected] or 1.778.331.3816.