American Pacific Mining Provides Corporate Update on the Palmer Project in Southeast Alaska
American Pacific Mining Provides Corporate Update on the
Palmer Project in Southeast Alaska
Vancouver, British Columbia / August 7, 2025 – American Pacific Mining Corp (CSE: USGD / OTCQX:
USGDF / FWB: 1QC) (“American Pacific” or the “Company”) is pleased to provide an update on its 100%-
owned Palmer Project (“Palmer” or the “Project”), a high-grade copper-zinc-barite VMS deposit located
in Southeast Alaska.
American Pacific views the Palmer Project as a strategic source of critical minerals for U.S. domestic supply
chains. Given the advanced nature of the Project, the Company believes that shareholder value will be
best maximized through a transaction that allows for the acceleration of development of the asset.
“As global demand for copper and zinc intensifies, and with increased U.S. government support for
streamlining critical mineral project development, we believe Palmer is uniquely positioned as a potentially
meaningful near-term supply of these critical materials,” stated Warwick Smith, CEO of American Pacific
Mining. “With significant existing infrastructure, a robust resource base, and proximity to road and
tidewater access, Palmer stands out as one of the most promising base and critical mineral assets in the
United States.”
Smith added, “Given this heightened importance of US-based critical minerals assets, we are evaluating a
variety of strategic options, including, but not limited to, spin-out, joint venture partnership or outright
asset sale, to ensure Palmer receives both the capital and focus necessary to rapidly accelerate its
development and deliver near -term value to our shareholders . In the interim, we are optimizing camp
accommodations and completing regional survey and sampling work this summer to further demonstrate
the district tonnage and discovery potential.”
The Company is actively engaged in M&A discussions with potential partners and will continue to update
shareholders as discussions progress and milestones are achieved.
2025 Field Activities
Demonstrating the Company’s commitment to the Palmer Project, the following activities are planned or
underway:
Return of Willscot Camp and Re-Activation of Big Nugget Camp
American Pacific has initiated a phased demobilization of the onsite Willscot Camp, in anticipation of the
November 2025 lease expiration. This austerity measure will realize operational savings of nearly
USD$200,000 per month while aligning objectives for the Palmer Project’s advanced -stage exploration.
The Big Nugget Camp has been commissioned to support exploration and construction crews.
De-mobilization activities were initiated July 15 to manage the safe removal and shipment of modular
camp components. Increased traffic is expected along the Porcupine Trail Road for a period of 3–4 weeks
while construction is taking place. The Company reminds all road users to prioritize safety first and adhere
to posted signage and speed limits.
Regional Exploration Programs
Drone and Lidar Surveys
American Pacific is launching a drone-based survey program, using high-resolution photogrammetry and
Light Detection and Ranging (LiDAR) to target several key prospects. Acquired 2023 satellite imagery and
Advanced Spaceborne Thermal Emission and Reflection Radiometer ( ASTER) data reveal newly exposed
bedrock and potential alteration zones that warrant further investigation.
For example, t he Mount Henry Clay (MHC) prospect has ~300 met res of new ly accessible bedrock
compared to the same area in 2004 (See Figure 1 below). Historic boulder sampling by the U.S. Bureau of
Mines (USBM) at the MHC prospect indicated that most of the sulfide boulders between 1 and 6 ft thick
(0.3 and 1.8 m) contain from 20 to 44% zinc, about 5 percent barium, and several percent of copper. A 6-
ft (1.8 m) chip sample across the largest massive sulfide boulder found, assayed 33% zinc, 2.5% copper,
5% barium, 65 ppm silver and trace gold (Still, 1984).
The historical USBM sample results have not been verified or validated by the Company and are not
necessarily representative of mineralization on the Project.
Figure 1: Glacial recession at the Mount Henry Clay prospect exposes new prospective ground uphill of
mapped high-grade massive sulphide boulders.
Geological Mapping and Sampling – Copper-Cobalt Focus
Planned fieldwork will focus along the west side of the Little Jarvis glacier targeting potential western
extensions to the Palmer Deposit mineralized horizon. In this Jarvis-SP-Gullies Prospect area, previous
rock sampling returned high-grade copper-zinc-cobalt results ranging from trace to 2.1% copper, trace to
15.3% zinc and 12 to 631 ppm cobalt.
The mineralization is described as local stringer to semi-massive stratiform mineralized lenses in variably
altered basalts and argillites that extend to the northwest over approximately 1.5 kilometres. The central
portion of this trend was identified as a “strong alteration cluster” in the ASTER data interpretation . The
presence of copper -cobalt mineralization has similarities to the world class Windy Craggy Cu-Co VMS
deposit mineralization, located approximately 60 kilometres northwest of the Palmer Project, in the same
belt of host rocks.
The Windy Craggy deposit is not located on the Company’s Project and the information is not necessarily
indicative of mineralization hosted on the Company’s Project.
Figure 2: Palmer Property regional prospects and mineral corridors.
Gold Prospects - Porcupine - McKinley Creek
Gold exploration efforts are planned in the Porcupine-McKinley Creek area, reported as one of the most
important placer districts in southeast Alaska, producing over 82,000 ounces of placer gold and spanning
more than 125 years. The bedrock source for the gold remains unidentified and activities will focus on the
Golden Eagle and McKinley Creek Falls prospects located on McKinley Creek, an area that has not seen
modern or systematic exploration.
The Porcupine-McKinley Creek area has strong geological similarities to the past producing Alaska Juneau
(AJ) Mine near Juneau which produced 3.5 million ounces of gold and 2.2 million ounces of silver from the
late 1800s to mine closure in 1944.
Sampling by the US Bureau of Mines (USBM) at the Golden Eagle prospect (Vug vein) in the 1980s returned
high-grade gold with samples grading from nil to 531.1 g/t gold in vuggy quartz veins, underscoring the
opportunity for significant gold discovery in the area (Still et al., 1991 ). Rock sampling at the Vug vein in
September 2020 confirmed high grade gold mineralization with outcrop grab samples ranging from trace
to 44.7 g/t gold and a chip sample across the Vug vein zone returning 9.8 g/t gold over 2.3 metres.
The historical USBM sample results have not been verified or validated by the Company and are not
necessarily representative of mineralization on the Project. The AJ Mine is not located on the Company’s
Project and the information is not necessarily indicative of mineralization on the Company’s Project.
Updated Mineral Resource Estimate – January 2025
In January 2025, American Pacific released an updated mineral resource estimate (MRE) for the Palmer
Project, reflecting a 16% increase in contained copper in the Indicated category, and a 22% increase in the
Inferred category. This growth is a result of the highly successful 2023–2024 diamond drilling campaign,
which returned several of the highest -grade copper intersections in the Project’s history. The updated
MRE continues to validate Palmer’s potential as a high-quality, expandable mineral resource.
The Company commissioned SRK Consulting (U.S.) Inc. (SRK) to assess and update the Mineral Resource
Estimate. The effective date of the MRE is January 13, 2025, highlights include:
• Indicated: 4.77 million tonnes at 1.69% copper, 5.17% zinc, 0.14% lead, 28.4 g/t silver, 0.29 g/t gold,
20.6% barite (3.5% copper equivalent or 13.2% zinc equivalent).
o 178.0 million pounds of copper, 543.0 million pounds of zinc, 14.2 million pounds of lead, 4.4
million ounces of silver, 43.9 thousand ounces of gold, and 980.4 thousand tonnes of barite
(BaSO4).
• Inferred: 12.00 million tonnes at 0.57% copper, 3.92% zinc, 0.47% lead, 66.3 g/t silver, 0.33 g/t gold,
25.5% barite (3.1% copper equivalent or 8.9% zinc equivalent).
o 151.5 million pounds of copper, 1,036.4 million pounds of zinc, 125.2 million pounds of lead,
25.6 million ounces of silver, 128.1 thousand ounces of gold, and 3,054.2 thousand tonnes of
barite (BaSO4).
The Technical Report for the updated Mineral Resource Estimate has been prepared in accordance with
National Instrument 43-101 ("NI43-101") and is available on the Company’s website and filed on SEDAR.
The mineral resources were estimated by Benjamin Parsons, BSc , MSc Geology, MAusIMM (CP) #222568
of SRK, a Qualified Person.
Qualified Person Statement
The technical information in this news release regarding the Palmer Project has been reviewed and
approved by Peter Mercer, P.Geo., President of Constantine Metal Resources Inc., operator for the Palmer
Project. Mr. Mercer is a Qualified Person (QP) as defined by National Instrument 43 -101, Standards of
Disclosure for Mineral Projects.
About American Pacific Mining Corp.
American Pacific Mining Corp. is a precious and base metals explorer and developer focused on
opportunities in the Western United States. The Company has two flagship assets: 100% -owned Palmer
Project, a Volcanic Massive Sulphide -Sulphate (VMS) project in Alaska, and the 100% -owned Madison
Project, a past-producing copper-gold project in Montana. For the Madison transaction, American Pacific
was selected as a finalist in both 2021 and 2022 for ‘Deal of the Year’ at the S&P Global Platts Metals
Awards, an annual program that recognizes exemplary accomplishments in 16 performance categories.
Also, in American Pacific’s asset portfolio are three high -grade, precious metals projects located in key
mining districts of Nevada, USA: the Ziggurat Gold project, the G ooseberry Silver-Gold project; and the
Tuscarora Gold-Silver project. The Company’s mission is to grow by the drill bit and by acquisition.
On behalf of the American Pacific Mining Corp Board of Directors:
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 / [email protected]
Media relations contact:
Adam Bello, Primoris Group Inc.
416.489.0092 / [email protected]
Full disclosure can be found in our NI 43-101 Technical Report for the Palmer Project at
www.americanpacificmining.com.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news
release.
References:
1. Still, J.C., 1984. Stratiform massive sulfide deposits of Mt. Henry Clay area, southeast Alaska. U.S. Bureau
of Mines Open-file Report 118-84, 10 p.
2. Still, J.C. et al.,1991:Economic Geology of Haines -Klukwan-Porcupine Area, southeast Alaska, U .S.
Bureau of Mines, Report of Investigations 91-4