American Pacific Mining Acquires Clearview Gold
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American Pacific Mining has entered into a definitive agreement to acquire all of the issued and outstanding common shares of Clearview Gold, a private exploration company that is part of the NewQuest Capital company.
The transaction further cements American Pacific as a premier exploration and development company, well-positioned to deliver results from three projects being aggressively advanced under strategic partnerships with well-respected major metal producers, as well as offer compelling organic growth from a highly prospective pipeline of 100 percent owned mineral exploration projects.
Clearview owns three gold projects located in world-class mining districts of Nevada, including the Round Mountain, Carlin, and Eureka trends.
The Ziggurat Project, located on the northern end of the Round Mountain trend and proximal to the Northumberland Mine, is currently under a joint venture agreement with Centerra Gold. Centerra has the option to spend up to $6 million to earn 70 percent of the project over five years. Currently, Centerra is in year two of the earn-in arrangement and has plans to aggressively explore the project in 2023.
The Danny Boy Mine property is located on the northern extension of the Carlin trend, adjacent to American Pacific’s Tuscarora property. Clearview has been exploring for epithermal and Carlin-type gold.
The Alpha Project is proximal to the Carlin and Battle Mountain-Eureka trends and previous exploration has targeted near-surface Carlin-type oxide gold.
“The strategic rationale of the transaction is compelling on many levels. It provides American Pacific shareholders with the opportunity to participate in an even more diversified portfolio, which includes three active exploration projects partnered with major mining companies — Rio Tinto, Dowa Metals, and Mining and now Centerra — plus discovery exposure with a growing portfolio of highly prospective exploration assets in the western USA,” said Warwick Smith, CEO of American Pacific.
The combination of American Pacific and Clearview is based on strong industrial logic and is in line with the company’s strategic growth plan, offering American Pacific shareholders compelling benefits, as highlighted below:
• Scale: A large scale platform, which includes three projects with exploration upside, funded by major joint
venture partners.
• Diversification: A portfolio of precious and base metals exploration assets strategically and geographically
focused on tier-one mining jurisdictions in North America: Nevada, Montana, and Alaska.
• Capital allocation: Significant work programs at three projects being funded by major mining company
partners, allows American Pacific to deploy its capital to effectively advance its 100 percent owned exploration
projects in a methodical and strategic manner.
• Corporate Profile: The strategic and financial benefits of the transaction will result in an improved capital
markets profile which the company expects to attract additional institutional research coverage and institutional
and high net-worth investors.
After consultation with its financial and legal advisors, the board of directors of American Pacific have unanimously approved the entering into of the definitive agreement.
American Pacific Mining is a precious and base metals explorer and developer focused on opportunities in the Western United States. The company has two flagship assets; Palmer Volcanic Massive Sulfide (VMS) project in Alaska, under joint-venture partnership with Dowa Metals & Mining, owner of Japan’s largest zinc smelter and the company is also partnered with Kennecott Exploration, a division of the Rio Tinto Group, on the past-producing Madison Copper-Gold project in Montana. For the Madison transaction, American Pacific was selected as a finalist in both 2021 and 2022 for ‘Deal of the Year’ at the S&P Global Platts Global Metals Awards. Also in American Pacific’s asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project, two high-grade, precious metals projects located in key mining districts of Nevada.
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