Technical Report The Calico Silver Project Updated Mineral Resource Estimate

VANCOUVER - Apollo Silver Corp. has filed the independent technical report for the Calico Silver Project’s updated Mineral Resource Estimate (MRE). The report titled “NI 43-101 Technical Report for the Mineral Resource Estimate of the Calico Silver Project, San Bernardino County, California, USA”.

Highlights of the MRE announced on March 6, 2023, include: 1) 110 million ounces (“Moz”) silver classified as Measured and Indicated (M&I) declared at Waterloo with an average grade of 100 grams per tonne (“g/t”) silver: 81% (90 Moz) classified as Measured at 103 g/t silver, and 95% of Inferred silver ounces have been converted to M&I. 2) 51 Moz silver classified as Inferred: 720,000 oz silver at Waterloo Property, and 50 Moz silver at Langtry Property. 3) 70,000 oz Inferred oxide gold ounces added to metal inventory at Waterloo. 4) Conservative base-case estimate uses 50 g/t silver cutoff grade. 5) Low strip ratio of 1.1:1 for Waterloo silver resource. 6) Significant growth opportunities remain.