Files Updated Technical Report for its Palmer Copper-Zinc VMS Project in Southeast Alaska
American Pacific Files Updated Technical Report for its Palmer
Copper-Zinc VMS Project in Southeast Alaska
Vancouver, British Columbia / March 3, 202 5 – American Pacific Mining Corp (CSE: USGD / OTCQX:
USGDF / FWB: 1QC) (“American Pacific” or “the Company”) is pleased to report that the Company has
filed the updated NI 43-101 Technical Report for the Palmer Copper-Zinc Project, in Southeast Alaska, on
SEDAR. SRK Consulting (U.S.) Inc. (“SRK”) was used as the third-party consultant responsible for the
updated Mineral Resource Estimate (“MRE”) for the Project.
2025 MRE Highlights:
• 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 16% increase in contained copper (24 million pounds) and 14% increase in copper grade
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 22% increase in contained copper (28 million pounds)
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 has been prepared for the updated MRE in accordance with National Instrument 43-
101 ("NI 43-101") and is available on the Company’s website and filed on SEDAR.
Table 1: Palmer Project Mineral Resource Estimate Average Values (effective date January 13, 2025)
Classification Zone Domain Mass
Mt
Average Grade Metal Equivalent
Cu Zn Pb Ag Au BaSO4 (6) ZnEq(7) CuEq(8)
% % % g/t g/t % % %
Indicated SW(3) Zone_1 2.75 2.15 5.20 0.11 25.7 0.33 20.5 14.9 3.9
Zone_2 2.02 1.08 5.12 0.17 32.1 0.23 20.7 10.8 2.8
Total 4.77 1.69 5.17 0.14 28.4 0.29 20.6 13.2 3.5
Inferred
RW(3) RW 1.68 0.71 3.50 0.47 46.5 0.31 30.2 8.5 2.2
SW(3)
Zone_1 1.30 1.79 4.93 0.18 34.4 0.39 24.9 13.7 3.6
Zone_2 0.89 0.87 4.32 0.15 26.2 0.20 14.4 9.0 2.4
Zone_3 2.78 0.65 3.64 0.09 21.2 0.21 17.6 7.2 1.9
AG(4) AG (JAG) 5.13 0.15 4.04 0.83 96.7 0.40 29.3 8.5 3.8
AG (Nunatak) 0.22 0.16 0.25 0.20 434.7 0.57 47.3 15.3 7.0
Total 12.00 0.57 3.92 0.47 66.3 0.33 25.5 8.9 3.1
* See Mineral Resource “Notes”
Table 2: Palmer Project Mineral Resource Estimate Contained Metal (effective date January 13, 2025)
Classification Zone Domain Mass
Mt
Contained Metal
Cu Zn Pb Ag Au BaSO4 (6)
M lbs M lbs M lbs K oz K oz K t
Indicated SW(3) Zone_1 2.75 130.2 315.4 6.6 2,275 28.8 562.8
Zone_2 2.02 47.9 227.6 7.7 2,078 15.1 417.6
Total 4.77 178.0 543.0 14.2 4,353 43.9 980.4
Inferred
RW(3) RW 1.68 26.2 129.9 17.6 2,516 16.9 509.2
SW(3)
Zone_1 1.30 51.0 140.8 5.1 1,432 16.4 323.2
Zone_2 0.89 17.2 85.0 2.9 754 5.9 128.6
Zone_3 2.78 39.5 222.7 5.4 1,895 18.9 489.1
AG(4) AG (JAG) 5.13 16.8 456.7 93.3 15,942 66.0 1,500.9
AG (Nunatak) 0.22 0.8 1.2 1.0 3,049 4.0 103.1
Total 12.00 151.5 1,036.4 125.2 25,587 128.1 3,054.2
Mineral Resource Notes:
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The deposits have been
classified as Indicated and Inferred based on confidence in the geological model, drill spacing. The estimate of Mineral Resources
may be materially affected by environmental, permitting, legal, title, market or other relevant issues. The quantity and grad e of
reported Inferred Resources are uncertain in nature and there has not been sufficient work t o define these Inferred Mineral
Resources as Indicated or Measured Resources. There is no certainty that any part of a Mineral Resource will ever be converted
into reserves.
(2) Mineral resources are reported using an assumed NSR which includes prices, recoveries, and payabilities cut -off grade based
on metal price assumptions*, variable metallurgical recovery assumptions**, mining costs, processing costs, general and
administrative (G&A) costs and variable NSR factors. Mining (US$41.3), processing (US$23.92) and G&A costs (US$11.77) and
Sustaining Capital (US$15.92) totaling US$92.9/t for Underground Mining.
(*) Metal price assumptions considered for the calculation of Metal Equivalent grades are: Gold (US$/oz 2,100.00), Silver (US$/oz
28.0), Copper (US$/lb 4.50), Lead (US$/lb 0.95) and Zinc (US$/lb 1.50)
(**) Cut-off grade calculations assume variable metallurgical recoveries as a function of grade and relative metal distribution.
Average metallurgical recoveries are: SW/RW Zones: Gold (76.1%), Silver (90.2%), Copper (90.3%), Lead (82.9%) and Zinc (89.2%),
AG Zone: Gold (66.0%), Silver (91.0%), Copper (54.8%), Lead (83.4%) and Zinc (94.8%).
(3) NSR Calculation for SW/RW Domains: NSR= $77.25 x %Cu + $20.32 x %Zn + $9.64 x %Pb + $0.64 x g/t Ag + $43.07 x g/t Au
(4) NSR Calculation for AG Domain: NSR = $49.04 x %Cu + $22.25 x %Zn + $10.14 x %Pb + $0.70 x g/t Ag + $37.77 x g/t Au
(5) The resources are considered to have potential for extraction using underground methodology and constrained by mineable
shapes. Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction.
(6) Barite as reported is shown for economic potential but has not been used in the NSR value at this stage.
(7) ZnEq defined by equation SW & RW = NSR value per block / $20.32; AG = NSR value per block / $22.25 (Note Barite has been
excluded from the ZnEq and NSR calculations)
(8) CuEq defined by equation SW & RW = NSR value per block / $77.25; AG = NSR value per block / $49.04 (Note Barite has been
excluded from the ZnEq and NSR calculations)
(9) Mineral Resources are based on validated data, which have been subjected to QA/QC analysis, using capped, composited
samples at 2m. Estimation has been completed using a combination of Ordinary Kriging and Inverse Distance estimation
methodologies and classified based on confidence in the underlying data and drill spacing. Mineral resource tonnages have been
rounded to reflect the precision of the estimate.
(10) The mineral resources were estimated by Benjamin Parsons, BSc , MSc Geology, MAusIMM (CP) #222568 of SRK, a Qualified
Person.
Figure 1: Palmer Project VMS Deposits - Isometric view looking south
Qualified Person Statement
Ben Parsons, Principal Consultant (Resource Geology) with SRK prepared the updated MRE and
independent NI 43-101 report for Constantine Metal Resources Ltd. , a 100% owned subsidiary of the
Company, according to CIM Definition Standards. Mr. Parsons is a Qualified Person as defined by NI 43-
101. The NI 43-101 independent report includes detailed information on the key assumptions, parameters
and methods used to estimate mineral resources.
The technical information in this news release regarding the Palmer Project has been reviewed and
approved by Michael Vande Guchte, P.Geo., Vice President of Exploration for the Palmer Project and a
Qualified Person (QP) as defined by National Instrument 43 -101, Standards of Disclosure for Mineral
Projects.
Figure 2: Palmer Deposit projected Cross Section (looking West, left) and Long Section (looking North, right)
Figure 3: AG Deposit projected Cross Section (looking Southeast, left) and Long Section (looking Northeast, right)
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: the Palmer Project, a
Volcanogenic Massive Sulphide -Sulphate (VMS) project in Alaska and the 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 high -grade, precious metals projects located in key mining
districts in Nevada, USA, including the Ziggurat Gold Project and the Tuscarora Gold -Silver District. The
Company’s mission is to grow by the drill bit, strategic partnerships, and M&A.
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]
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news
release.