Palmer Project To Rapidly Accelerate Development

VANCOUVER – American Pacific Mining Corp reported on the Palmer Project, a high-grade copper-zinc-barite VMS deposit located in Southeast Alaska. The Palmer Project is 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. “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. 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 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.
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.