VANCOUVER - Apollo Silver Corp. ('Apollo' or the 'Company') (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF) is pleased to provide an update of its technical work program and exploration plans for its Waterloo and Langtry Silver-Barite projects located in San Bernardino County, California.

Apollo's technical program is well underway, and the Company anticipates the declaring of maiden resource estimates at its two cornerstone silver-barite projects to proceed as initially planned.

Highlights

Increased confidence in the historic estimates of silver mineralization at both the Waterloo and Langtry projects made by previous operators based on; Completion of preliminary 3-D geology models of both projects by an independent consulting group; 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 ('Lilburn'), of San Bernardino as permitting and environmental consultants and commencement of permitting application process.

'I am extremely pleased with the progress we are making,' Apollo CEO, Tom Peregoodoff commented. '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.'

Cathy Fitzgerald, VP Exploration and Resource Development, added, 'The preliminary results of the data compilation and analysis work has provided further confidence in the quality of the historic data for the projects. This data, combined with our developing geological model, will provide a solid foundation for Apollo to optimize its strategy for defining its maiden resource estimation program and refine its upcoming drill program.'

Contact:

Tom Peregoodoff

Tel: +1 (604) 428-6128

Email: tomp@apollosilver.com

About Apollo Silver Corp.

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 three significant pure silver exploration and resource development projects; the historical Waterloo and Langtry projects, in San Bernardino California and Silver District Project in Arizona.

Cautionary Statement Regarding '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 to the potential of the Company's properties; the timing and completion of the anticipated declaration of resource estimates at the Company's silver-barite projects; the evaluation of the quality of the historical data collection, historical estimates, geological models, drilling and assay data, data sets prepared by and acquired from previous operators; timing and cost of future exploration, drilling and geophysical program plans and targets; success of exploration activities; the estimation of mineral resources and conclusions of economic evaluations. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as '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 on the 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 inherently subject to known and unknown risks, significant operational, economic, and competitive uncertainties, contingencies and other factors that may cause the 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, including but not limited to risks related to the Company's goal of creating shareholder value by concentrating on the development of the Waterloo project, the Langtry project, or the AZ Silver District project (the 'Properties'); believing that the properties have the potential to contain economic silver deposits; the Company's assessment of future plans for the Properties; managements' economic outlook regarding future trends; the Company's exploration budget for the Properties and in particular, the availability of equipment, skilled labour and services needed, timing and the amount of the expected budget; the Company's ability to meet its working capital needs at the current level in the short term; expectations with respect to raising capital; sensitivity analysis on financial instruments may vary from the amounts disclosed; government regulation and environmental liability; relations with local stakeholders and the surrounding communities; general business and economic conditions; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; currency fluctuations and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 pandemic, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those discussed or referred to in the Company's continuous disclosure filings with the securities regulatory authorities in Canada, available at www.sedar.com.

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