American Pacific gets Madison project sale OK

2020-06-23 11:46 ET - News Release

Mr. Duane Parnham reports
MADISON METALS AND AMERICAN PACIFIC MINING ANNOUNCE MADISON SHAREHOLDER APPROVAL FOR THE SALE OF THE MADISON PROJECT
The shareholders of Madison Metals Inc. have approved the sale of the Madison copper-gold project near Silver Star, Mo., United States, to American Pacific Mining Corp. The Madison Project is currently under an earn-in, joint venture agreement, whereby Kennecott Exploration Company, part of the Rio Tinto Group may spend $30 million USD to earn up to 70% of the Madison Project.
The Transaction was approved by the shareholders of Madison with 99.929% of votes cast in favour of the Transaction. The Transaction is expected to close on or about June 25, 2020.

About American Pacific Mining Corp.
American Pacific Mining Corp. is a gold explorer focused on precious metal opportunities in the Western United States. The Gooseberry Gold/Silver Project and the Tuscarora Gold Project are two high-grade, precious metal projects located in key mining districts of Nevada USA. The Company's mission is to grow by the drill bit and by acquisition. American Pacific is Eyeing a Gold Discovery amidst gold's next bull market.

About Madison Metals Inc.
Madison Metals is a private B.C registered corporation that was set up to receive the Madison Mine project from Mind Medicine as a Spin-out as a result the Broadway Gold Reverse Take Over. Madison Metals owns 100% interest in the Madison Mine Project including the Company's right, title and interest to the Broadway and Madison mine - 450 acres of land, a 192 acre ranch, buildings, mine equipment and fixtures, 6 patented, 35 unpatented mineral claims, and mineral rights to a four-square-mile property in the Butte-Anaconda region of Montana, a porphyry-based mining district. The Project is currently under option to Kennecott Exploration.

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