American Pacific Mining Corp. announced the company has signed a Letter of Intent with Broadway Gold Mining whereby it was granted the exclusive right to negotiate a definitive agreement with Broadway and certain of its subsidiaries to acquire Broadway's interest in the Madison Copper Gold Project in Montana, USA. The project is currently subject to an Earn-In with Option to Joint Venture Agreement (the "Earn-in Agreement") with Kennecott Exploration Company, part of the Rio Tinto Group as announced by Broadway on April 30, 2019. Kennecott Exploration Company is not a party to the Letter of Intent or the proposed transaction between APM and Broadway. About the Madison Copper Gold Project: The Madison Copper Gold Project is located in the heart of Montana's prolific copper-gold belt only 38km southeast of the world-renowned Butte Mining District. The project, a high-grade Cadia-like skarn over porphyry system, encompasses 2,514 acres consisting of six patented lode claims and 108 unpatented mineral claims. Targets outlined in 2017 cover a two-mile-long by one-mile-wide zone of geophysical, geological and geochemical indicators. The project is permitted for mining, urface and underground exploration, and it encompasses two past-producing underground mines called the Broadway and Madison mines. The Broadway mine produced 144,000 ounces of gold from 1880-1950. The Madison mine was developed between 2005-2011 and generated 7,570 ounces of gold and 3,020,000 pounds of copper from bulk samples of 19,803 tons (average 0.52 ounce/ton Au and 25% Cu). Broadway Gold Mining Ltd. refurbished parts of the Madison Mine in 2017. Approximately 3,000 total feet of underground workings go to a depth of 215 feet underground at Madison. Broadway rehabilitated the underground workings in order to access certain stopes and underground mineralization, allowing for a successful exploration drill program to take place as well. Currently, known skarn mineralization and massive sulphide gold mineralization is proposed to be linked to a deeper porphyry system. Drill Highlights from Madison: A current drill program was recently completed at the Project including 14 drill holes targeting an area displaying multielement soil and rock chip geochemical anomalies, historic prospects, strong induced polarization anomalies and porphyry drill intercepts. Previous drilling at Madison conducted by Broadway has delivered extremely high-grade gold and copper intersections. Underground drilling in 2017 at Madison intersected bonanza gold grades. The underground drill program was designed to test the down dip extension of the auriferous massive sulfide zone below the 600 level. A small program of 307 meters tested the zone with considerable success. Results included: U17- 05: 0.9m intercepts ranging from 0.074 to 178.5 g/t Au within a 30.2m interval averaging 24.5 g/t Au and 0.391% Cu (from 8.2m); U17-04: 1.098% Cu and 1.651 g/t Au over 25.3m (from 9.1m); U17-06: 41.6 g/t Au over 11m (from 8.2m). Surface drilling included 19 holes over 3,984 meters, resulting in the discovery of a larger jasper zone with abundant native copper and gold. Results included: C17-16: 1.725% Cu and 0.097 g/t Au over 49.4m (from 177.1m), including 2.571% Cu and 0.151 g/t Au over 30.2 meters (from 195.4); C17-17: 1.020% Cu and 0.159 g/t Au over 31.1 meters (from 187.1m); C17-20: 1.247% Cu and 1.843 g/t Au over 23.8 meters (from 130.8m), drilled into a massive-sulfide zone that remains open at depth.