Independent Technical Review Provides Increased Confidence In Historic Resource Calculations

VANCOUVER - Apollo Silver Corp. reported that its technical work program and exploration plans for its Waterloo and Langtry Silver-Barite projects located in San Bernardino County, California is well underway, and anticipates the declaring of maiden resource estimates at its two cornerstone silver-barite projects to proceed as initially planned. The properties are easily accessed via the I-15 interstate highway in an area situated 230 kilometers (145 miles) northeast of Los Angeles, approximately halfway between Los Angeles and Las Vegas, Nevada. The Waterloo Silver-Barite Project comprises 21 unpatented lode claims and 27 fee land parcels, totaling approximately 1,770 gross acres (715 hectares). The Langtry Silver Barite Project comprises 38 unpatented lode claims and 20 patented lode claims, totaling approximately 1,180 gross acres (477 hectares). Prior to their acquisition by Apollo, these two projects have never been controlled by a single company.

Highlights: Increased confidence in the historic estimates of silver mineralization at both the Waterloo and Langtry projects made by previous operators based on the completion of preliminary 3-D geology models of both projects by an independent consulting group, and creation of an independently verified drill and assay database combining data for both; planning underway for a comprehensive geophysical program; and engagement of Lilburn Corporation, of San Bernardino as permitting and environmental consultants and commencement of permitting application process.

"I am extremely pleased with the progress we are making," CEO, Tom Peregoodoff said. "We remain on track to deliver against our objective of declaring a maiden silver and barite resource estimates for the Waterloo and Langtry projects. The work completed to date by our technical team including our highly-skilled consultants has confirmed the high quality of the data set we acquired as part of this transaction and increased our confidence in the silver mineralization estimates made by previous operators.”

The Calico Mountains host the historic Calico Mining District which has a lengthy history of exploration and mining, with silver-rich ore discovered here in 1881. The region was a prolific silver, barite and borax producer and is responsible for the majority of the silver production in the Mojave. Several past-producing mines and historical workings are situated in the vicinity of the projects, with most of the historical mining operations situated over a 19.3 square kilometer (12 square mile) area northeast of the Waterloo and Langtry properties. Five historical past-producing silver mines are located within the properties’ boundaries: the Waterloo, Voca, Union, Langtry and the Burcham mine, the only mine in the district that also produced gold.