Calico Silver Project 2022 Drill Program Update

VANCOUVER - Apollo Silver Corp. reported on its 2022 Drilling Program that is currently underway at its Calico Silver Project located in San Bernardino County, California. The 2022 Drilling Program is one component of the multi-component 2022 Calico Technical Program that aims to upgrade and expand the recently announced Inferred Mineral Resource Estimate (MRE) of 166 million ounces (Moz) of silver contained in 58.1 million tonnes (Mt) at an average grade of 89 grams per tonne (g/t).

“The 2022 drill program is advancing well,” CEO Tom Peregoodoff commented. “The program has very clearly defined objectives each of which is designed to add significant value to the resource we have declared at Calico. The drilling to date has confirmed the relatively simple geometry of the silver mineralization and the Barstow-Pickhandle contact which is prospective for gold mineralization. Securing a second rig will provide us with optionality to both bring forward the timing of drill results and expand the program.”

The 2022 Drilling Program comprises a planned 15,000 m (49,213 ft) of drilling using RC and diamond core drilling methods. Approximately 10,000 m (32,808 ft) of RC drilling and 5,000 m (16,404 ft) of diamond drilling are planned. RC drilling is being completed by Cooper Drilling LLC, of Monte Vista, Colorado.

To date, nine RC holes have been drilled at Waterloo as part of the 2022 program. Samples from two holes (92 total samples) have been shipped to ALS-Global Geochemical Analytic Laboratory in Reno, NV for sample preparation, crushing and analysis for gold. Prepared pulps will then be securely transported by ALS Reno to ALS Global Geochemistry Analytical Lab in North Vancouver, BC, Canada for all other analyses. These laboratories are ISO/IEC 17025:2017 accredited and are independent of the Company. Assay results will be reported as they are received after verification and quality assurance and quality control checks have been completed.