VANCOUVER, British Columbia, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) reports that the Board of Directors of the Company have, with regret, accepted a notice of retirement from Tom Peregoodoff, President and CEO. The effective date of Tom’s retirement from his executive role is June 30, 2024. The board has begun the succession process and will update the market when it has been completed.

Apollo’s Chairman of the Board, Andew Bowering commented; “Tom has played a critical role in the development of Apollo Silver from the acquisition of our Calico Project through the advancement of the project to where it now sits as one of the largest undeveloped silver projects in the USA. I speak on behalf of the entire board and team in saying we look forward to continuing to work with Tom during this transition and in offering our best wishes to him when he starts the next chapter of his life. During the transition, the board will focus on identifying candidates with the background and experience that will continue to advance Calico and grow Apollo. We continue to believe that Apollo provides a compelling investment opportunity for investors looking for exposure to responsibly sourced silver development opportunities.”

“It has been an absolute pleasure to work with the board and team here at Apollo” commented Tom Peregoodoff. “I could not be prouder of the work we have been able to accomplish since we started in 2021. Calico and Apollo are very well placed to benefit from strengthening market conditions and during the transition I look forward to supporting the team as we continue to look for opportunities to add value to Apollo.”

ON BEHALF OF THE BOARD OF DIRECTORS

Tom Peregoodoff
Chief Executive Officer

Forfurtherinformation,pleasecontact:

Tom Peregoodoff
Chief Executive Officer
Telephone: +1 (604) 428-6128
tomp@apollosilver.com

AboutApolloSilverCorp.

Apollo Silver Corp. has assembled an experienced and technically strong leadership team who have joined to advance world class precious metals projects in tier-one jurisdictions. The Company is focused on advancing its portfolio of two significant silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and Silver District Project in La Paz County, Arizona.

Neither the TSXVentureExchangenoritsRegulationServicesProvider(asthattermisdefinedinpolicies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CautionaryStatementRegarding“Forward-Looking”Information

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect tothe potentialof the Calico Project; the potential advancement of the Calico Project and growth of Apollo; identification of opportunities to add value to Apollo; and strengthening market conditions. Forward-looking statements include predictions, projections and forecasts and are often, but notalways,identifiedbytheuseofwordssuchas“anticipate”,“believe”,“plan”,“estimate”,“expect”,“potential”,“target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based onthe reasonable assumptions,estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made.Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, includingbutnot limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations;contests over title to properties; changes in project parametersasplanscontinuetoberefined;andimpactoftheCOVID-19pandemic.Theestimateofmineralresources maybemateriallyaffectedbyenvironmental,permitting,legal,title,taxation,sociopolitical,marketing,orotherrelevant issues. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and therehasbeeninsufficientexplorationtodefinetheseinferredmineral resourcesasanindicatedormeasuredmineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. Forward-looking statements are based on assumptions management believes to be reasonable, includingbutnotlimitedtothepriceofsilver,goldandbarite;thedemandforsilver,goldandbarite;theability tocarry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause resultsnottobeasanticipated,estimatedorintended.Therecanbenoassurancethatforward-lookingstatementswill prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information contained herein, exceptinaccordancewithapplicablesecuritieslaws.Theforward-lookinginformationcontainedhereinispresentedfor thepurposeofassistinginvestorsinunderstandingtheCompany’sexpectedfinancialandoperationalperformanceand theCompany’splansandobjectivesandmaynotbeappropriateforotherpurposes.TheCompanydoesnotundertake to update any forward-looking information, except in accordance with applicable securities laws.