APOLLO SILVER CORP - APGOF STOCK NEWS

Apollo Silver Corp. has filed an independent technical report for the Calico Silver Project, with a new Mineral Resource Estimate (MRE) effective February 8, 2023. This report, prepared by Stantec Consulting, confirms earlier results disclosed on March 6, 2023. Key highlights include:

• 110 Moz of silver classified as Measured and Indicated (M&I) at an average grade of 100 g/t.
• 51 Moz classified as Inferred silver resources, including 720,000 oz at the Waterloo Property.
• 70,000 oz of Inferred oxide gold ounces added.
• Low strip ratio of 1.1:1 for the Waterloo silver resource.

The report can be found on SEDAR and the company’s website. Apollo Silver is focused on advancing its precious metals projects in tier-one jurisdictions.

Apollo Silver Corp. announced an updated National Instrument 43-101 mineral resource estimate for its Calico Silver Project, effective February 8, 2023. This estimate includes a total of 110 million ounces of silver classified as Measured and Indicated, with 90 million ounces classified as Measured. Additionally, 51 million ounces are classified as Inferred. The average grade of silver is reported at 100 grams per tonne, with a low strip ratio of 1.1:1. The company emphasizes significant growth opportunities and plans to advance the project in 2023 through various studies. This development positions Calico as a major silver project in North America with increasing potential for expansion.

Apollo Silver Corp. announced promising preliminary results from its 2022 Metallurgical Test Program for silver recovery at the Waterloo deposit. Up to 61% silver recovery was achieved using conventional cyanide leaching, while a fluoride-assisted leach resulted in recoveries of up to 72%. Ultra-fine grinding yielded 80% recovery. A significant increase in recovery was noted with High Pressure Grinding Roll (HPGR) technology, achieving 50-100% more than conventional methods. These findings will inform the update to the Mineral Resource Estimate expected in early March. The project is part of the larger Calico Silver Project in California.

Apollo Silver Corp. (APGOF) announced significant gold assay results from its Calico Silver Project in California. The Phase 2 drill program revealed multiple intercepts, including 91.0 m of 0.390 g/t Au from the surface, with notable surface samples revealing up to 211 g/t Au. Gold mineralization occurs beneath existing silver resources, extending over 1,000 m and remaining open along strike. Cyanide solubility tests indicated recoveries between 75% and 95%, suggesting the gold is oxidized and amenable to leaching. The company aims to enhance its metal inventory ahead of an upcoming mineral resource estimate update, potentially increasing the project's attractiveness for investors.

Apollo Silver Corp. has received a one-year extension for its Temporary Use Permit from San Bernardino County, allowing continued drilling at the Calico Silver Project. Recent assay results from Phase 2 of the 2022 Drill Program showcased high-grade silver intercepts, including 197 g/t Ag over 61.0 m and 135 g/t Ag over 85.5 m. The resource estimation work program is on track, with results expected in early March. The company has completed 39 out of 44 planned drill holes, yielding substantial silver grades that are anticipated to enhance the current mineral resource estimate of 116 million ounces of silver.

Apollo Silver Corp. (TSX.V:APGO, OTCQB:APGOF) announced promising assay results from Phase 2 of its 2022 Drill Program at the Calico Silver Project in California. Key highlights include the highest-grade silver intercept ever reported at Calico: 189 g/t silver over 140.5 meters from surface (W22-RC-042). Notably, the results show bonanza-grade silver in two holes: 1,610 g/t over 1.5 meters and 1,095 g/t over 1.5 meters. Stantec has been engaged for a mineral resource estimation update scheduled for Q1 2023. The findings support the potential expansion of the silver resource at Calico, bolstering investor confidence.