American Pacific Mining Corp. announced its 2023 drill program has commenced at the Palmer Project, an advanced-stage, high-grade volcanogenic massive sulphide-sulphate located in the Porcupine Mining District of the Haines Borough, Alaska. The drill program, which will focus on several high priority targets, is a central component of the Company's USD 25.5 million 2023 exploration program backed by joint venture partner Dowa Metals & Mining Co.

Ltd. The 9,000 metre resource infill drill program at the Southwall Zone is designed to begin the process of upgrading mineral resources from Inferred to Measured and Indicated. The Palmer Deposit hosts an Indicated mineral resource of 4.68 million tonnes grading 5.23% zinc, 1.49% copper, 30.8 grams per tonne ("g/t") silver, 0.30 g/t gold; and Inferred mineral resource of 5.34 million tonnes grading 5.20% zinc, 0.96% copper, 29.2 g/t silver, 0.28 g/t gold. The Company's joint venture partner, Dowa, has committed to fund the USD 25.5 million 2023 program.

American Pacific has the option to pay its pro-rata share of 2023 program expenses, in whole or in part, prior to October 31, 2023, to minimize or eliminate Project dilution. Dilution is pro-rated according to each party's relative contributions to Project expenditures and will be determined upon completion of the 2023 program. American Pacific is the operator of the Project and will receive seven% of qualified program expenditures for managing the 2023 work program.