American Pacific Provides Update on Plan of Arrangement with ICG Silver & Gold Ltd. and Completes Share Payments to Three Former Employees

About this update from American Pacific Mining Corp.

[{"type":"text","content":"(All dollar amounts are expressed in Canadian dollars unless otherwise indicated)","length":81,"tagName":"p","attribs":{}},{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - January 12, 2026) - American Pacific Mining Corp. (CSE: USGD) (OTCQX: USGDF) (FSE: 1QC1) ("American Pacific," "APM" or the "Company") is pleased to provide an update, further to its news release dated December 8, 2025, regarding its previously announced plan of arrangement (the "Arrangement") with ICG Silver & Gold Ltd. ("ICG").","length":431,"tagName":"p"},{"type":"text","content":"Highlights:","length":11,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"APM will sell the Tuscarora and Danny Boy projects to ICG in exchange for an aggregate of 11,500,000 common shares in the capital of ICG (each, an "ICG Consideration Share").","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company will distribute 7,500,000 ICG Consideration Shares to APM shareholders on a pro rata basis (the "ICG Distribution Shares") and retain the remaining 4,000,000 ICG Consideration Shares.","length":205,"tagName":"p"}]},{"val":[{"type":"text","content":"APM shareholders of record on closing of the Arrangement ("Closing") will receive approximately 0.034 of an ICG Distribution Share for each APM share held.","length":165,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":554,"olType":false},{"type":"text","content":"Pursuant to the Arrangement, ICG will acquire 100% of the Tuscarora and Danny Boy projects from APM through the acquisition of two wholly-owned subsidiaries of APM, in exchange for an aggregate of 11,500,000 ICG Consideration Shares and a contingent payment of US$5 million payable by ICG to APM upon either project achieving commercial production. The Company will distribute 7,500,000 ICG Consideration Shares to APM shareholders on a pro rata basis and retain the remaining 4,000,000 ICG Consideration Shares.","length":512,"tagName":"p"},{"type":"text","content":"Meeting Details","length":15,"tagName":"p"},{"type":"text","content":"The Company's annual general and special meeting of shareholders (the "Meeting") has been scheduled for February 18, 2026, at which APM shareholders will be asked to approve, ...

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