Apollo Begins Phase 2 Drilling Program at Calico Silver Project, The Canadian Business Journal

VANCOUVER, British Columbia, September 20, 2022 (GLOBE NEWSWIRE) — Apollo Silver Co. (“Apollo” or “Company) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is in Phase 2 of the 2022 drill program (“Phase 2 training program) is the Calico Silver Project (“calico” or “plan”), located in San Bernardino County, California. Reverse circulation (“RC”) Drilling commenced at the Waterloo property on September 19, 2022. The Phase 2 Drill Program is one component of his multicomponent. 2022 Calico Technical Program Intended to upgrade and extend the recently released Inferred Mineral Resource estimates (“MRE”) of 58.1 million tonnes containing 166 million ounces of silver with an average grade of 89 grams per tonne (“g/t”) (See news release dated February 9, 2022).

“Phase 2 of The 2022 training program has started on schedule.said Apollo CEO Tom Peregudoff. “The second phase of drilling will focus on the central and northern parts of the Waterloo resource to maximize the amount of silver that can be upgraded to more advanced resource categories, enabling engineering research to begin in 2023. It is designed to The drilling program provides analytical results from the lab, so investors can expect regular results from this stage of drilling. ”

2022 Phase 2 Training Program

The Phase 2 drill program will extend the proposed 4,300 meters (“meters) (14,108 feet) of 39 RC drill holes will be completed by Cooper Drilling LLC of Monte Vista, Colorado. The program design incorporates lessons learned from Phase 1 of the 2022 training program and is designed to continue to:

• Complete infill drilling to further increase MRE reliability.
• We extend the MRE by adding additional high-grade silver ounces and quantifying the potential for by-products such as barite and gold.When
• Make your geological model even more reliable.

To date, 16,473 feet (5,021 m) of 44 RC holes have been successfully drilled at the Waterloo property as part of Phase 1 of the 2022 drilling program. Previous results confirmed the grade, continuity, and predictability of near-surface silver mineralization within the current His MRE. Silver mineralization was identified in the thicker part of the Barstow deposit (~125 m depth below the surface) ~30 m below the base of the present-day MRE. And the gold-mineralized strata are more extensive than historical drilling indicated.

The Phase 2 drill program is expected to be completed by mid-November 2022, and MRE updates are expected to begin in December 2022 after receipt of all analytical results.

About Calico Project

position

The project is located in San Bernardino County, California and consists of adjacent Waterloo and Langtry facilities totaling 2,950 acres. The project is located 9 miles (15 kilometers) from the city of Barstow, with an extensive network of private gravel roads spanning the site. There is commercial power within 5 km (3 miles) of him on the project.

Calico Geology and Mineralization

The project is located in the southern Calico Mountains of the Mojave Desert, in the southwestern Basin and Range Tectonic State. The range is a 15 km (9 mi) long, northwest-southeast trending range composed primarily of Tertiary (Miocene) volcanoes, pyroclastic materials, sedimentary rocks, and dacite intrusions. It has been. Mineralization at Calico consists of high-level, low-silver-sulfide-dominant hydrothermal-veined and disseminated sediments associated with northwest-trending faults and shatter zones, and mid-Tertiary volcanism . The project represents the donation of a district-scale mineral system of approximately 6,000 m (19,685 ft) in mineralized strike length managed by Apollo. Oxidation, seeding, and Stockwork-style mineralization are primarily hosted in the Barstow Sedimentary Formation and are subject to MRE.

qualified person

Scientific and technical data contained in this news release has been prepared by Kathy Fitzgerald, M.Sc., P .Geo.) reviewed and approved. mineral project. Mr. Fitzgerald is a British Canadian Professional Geoscientist registered in Columbia.

For more information, please visit www.apollosilver.com.

On behalf of the Board of Directors

Tom Peregudoff
Chief executive officer

About Apollo Silver Corporation

Apollo Silver Corp. has assembled an experienced and technically strong leadership team and joined to drive a world-class precious metals project in a Tier 1 jurisdiction. The company is focused on advancing a portfolio of two significant silver exploration and resource development projects, the Calico Silver Project in San Bernardino, California and the Silver District Project in Arizona.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of the Canadian securities laws. All statements in this news release, other than statements of historical fact, are forward-looking statements, including, but not limited to, statements regarding the potential of the Calico Project. Possible identification of gold and barite resources in Calico. Potential for expanding resource estimates and improving their confidence levels, including future mineralization during strikes and at depth. Timing of initiation of mobilization, drilling and exploration activities. Timing of announcement of training results. Forward-looking statements include projections, projections, predictions and often, but not always, “anticipate,” “believe,” “plan,” “estimate,” “expect,” Identified using words such as “may”. ‘goals’, ‘budgets’, ‘intentions’ and events or outcomes ‘could’, ‘will’, ‘should’, ‘could’ or ‘could’ ” and other similar expressions and their negative forms.

Forward-looking statements are made by our management in light of our management’s experience, trends, perceptions of current conditions, expected developments and other factors determined by our management. Based on reasonable assumptions, estimates, analyses, and opinions. We believe that such statement is relevant and reasonable under the circumstances of the day on which it was made. Forward-looking information is based on reasonable assumptions made by the Company at the time such information was posted and is subject to any known statements that may have caused actual results, levels of activity, performance or outcomes. and subject to unknown risks, uncertainties and other factors. Company risks that differ materially from those expressed or implied by such forward-looking information. prices of metals and minerals; availability of capital; accuracy of our forecasts and estimates; Realization of mineral resource estimates, interest rates and exchange rates. competition; stock price fluctuations; drilling rig and access availability; and actual results of current exploration activity. government regulations; political or economic developments; environmental risks; insurance risks; capital expenditures; personnel relationships; disputes over property ownership; As plans continue to be refined, project parameters change. Impact of the COVID-19 pandemic. Mineral resource estimates can be materially affected by environmental, permitting, legal, property, taxation, socio-political, marketing or other related issues. The quantities and grades of the Inferred Mineral Resources reported in this estimate are inherently uncertain, and there has been insufficient exploration to define these Inferred Mineral Resources as Specified or Measured Mineral Resources, and further exploration is warranted. It is unclear whether they upgrade to a designated Mineral Resource or a Measured Mineral Resource category. Forward-looking statements are based on assumptions that management believes to be reasonable. This includes but is not limited to silver, gold and barite prices. Demand for silver, gold and barite. Ability to conduct exploration and development activities. Timely receipt of required approvals. Ability to obtain appropriate personnel, equipment and services in a timely and cost-effective manner. the ability to operate safely, efficiently and effectively in the matter; the regulatory framework regarding environmental matters and other assumptions and factors set forth in this document; We have attempted to identify important factors that could cause our actual results to differ materially from those contained in the forward-looking information, but we do not believe that they could cause results to differ from those anticipated, estimated or intended. There may be other factors that There can be no assurance that forward-looking statements will prove to be accurate or actual results, and future events may differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding our expected financial and operating results, as well as our plans and objectives, and is not suitable for any other purpose. may not be. We do not undertake to update forward-looking information, except in accordance with applicable securities laws.

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