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American Pacific Mining Creates New 3D Model for High-Grade Gooseberry Gold-Silver Project

American Pacific Mining Corp (“APM” or the “Company”) is pleased to announce that the Company has created a new 3D model for the high-grade Gooseberry Gold-Silver Project (the “Project”) located in the Ramsey Mining District of Storey Nevada. Historical underground sampling data from the Project has been put into 3-dimensional space for the first time.

The leapfrog model shows a clearly defined, nearly vertical vein structure with very prospective grades of gold and silver displayed in gold equivalent. The vein can be traced for several hundred feet at surface and even further underground at the 900-1000 foot level, to approximately 1450 feet in length.

Link to Gooseberry Model Video: https://youtu.be/Td9DdmkWHIQ

Grab samples of the stockpiles in 2019 complement what we are seeing in the Gooseberry model today. Sampling returned values including 18.45 g/t Au and 595 g/t Ag, 17.75 g/t Au and 310 g/t Ag, and 10.25 g/t Au and 218 g/t Ag. APM believes these results are indicative of material destined for milling at the time of mine closure,” commented Eric Saderholm, President of APM. “We are highly encouraged by the consistency and grade of gold and silver at Gooseberry.”

The Project consists of gold and silver-bearing quartz/dolomite veins up to 12 feet (3.6m) in width. The veins roughly follow the east-west striking Gooseberry Fault with mineralization found in numerous veins associated with jarosite, gypsum and pyrite. The vein system is hosted in Miocene andesite lava flows within the Kate Peak Formation, similar in age to the Comstock Lode deposits located 15 miles to the southwest.

Notes on the Geological Model

The Gooseberry model data was compiled from historical underground sampling maps undertaken by former mine operator, Asamera Inc. in the mid-1980’s. Extensive underground sampling of the stopes was undertaken during the time Asamera owned and operated Gooseberry. Samples would have been tested at an internal assay lab for the company. QA/QC is not available for the assays and they have not been verified by a Qualified Person as defined by National Instrument 43-101. Some or all of the mineralization that was sampled could have been mined out. There are no guarantees that future assays from underground sampling or drilling will produce similar results.

The Gooseberry model video file is a view of the geological model created using compiled historical channel samples from the Gooseberry mine. The effective date of the model is January 31, 2020. The geological model does not represent the final conclusions of the compilation. Viewers are cautioned to make interpretations solely on this interim information. The geological model represents underground channel samples that have been composited over the total channel length. The channels appear to have been mostly collected orthogonal to the underground drifts and of the working face during mining operations. A qualified person has not completed sufficient work to verify the present day site underground geology as it relates to the historical data. The uppermost level shown is L500 and the lower most level is the L1150. All units are in US feet and troy ounces per short ton. Gold equivalent (AuEq) is calculated based on 80 silver to 1 gold ratio. Due to incomplete lithological data, vein intervals are selected based on a 0.06 oz/t cut-off. However, the numeric model of AuEq incorporates all sample data and assumes total metal recovery. The data was compiled using an ESRI ArcMap and Microsoft Excel/Access. The geological model was then generated using Seequent Leapfrog Geo 3D. The qualified person supervising the completion of the data compilation and geological model is Van Phu Bui, P.Geo., a geologist with ARC Geoscience Group Inc., who is independent of American Pacific Mining Corp.

Grab Sampling QA/QC

Samples were sent to ALS Elko located at 1345 Water St, Elko, NV, USA for CRU-32, CRU-QC, DRY-22 PUL-32m PUL-QC, SND-ALS, and WEI-21. Samples were processed at ALS Reno located at 4977 Energy Way, Reno NV, USA for Ag-Gra22, and Au-AA26. Grab samples were randomly selected from the stockpile, bagged and transported by APM President and QP, Eric Saderholm. Preparation by the lab included Weighing and Crushing QC Test, Pulverizing QC Test, Drying, fine crushing 90% <2mm, sample splitting with a riffle splitter, and Pulverize 1000g to 85% <75 um. Analytical procedures include Ag- GRA22, Ag 50g FA-GRAV finish with WST-SIM Instrument, and Au-AA26, ore grade Au 50g FA AA finish with AAS Instrument. Visit this link for more information on Gooseberry: https://americanpacific.ca/projects/gooseberry/

Source: https://americanpacific.ca/

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