Apollo Silver Corp. (TSX-V:APGO) (OTCQB:APGOF) (Frankfurt:6ZF0) is pleased to report that it has closed its previously announced non-brokered private placement and has issued an aggregate of 67,500,000 common shares of the Company at a price of C$0.20 per Share for aggregate gross proceeds of $13,500,000.

Mr. Eric Sprott has subscribed for $2,000,000 of the Offering.

“We are pleased to welcome Mr. Eric Sprott to our list of valued shareholders,” commented Interim President and CEO, and Director, Andrew Bowering. “With the funds raised from this financing, we believe the Company is well capitalized to continue building value for all our shareholders.”

The Company intends on using the net proceeds from the Offering to continue advancing the Calico Silver Project in San Bernardino, California, to invest in community relations initiatives at its newly optioned Cinco de Mayo Silver Project in Chihuahua, Mexico (see news release dated September 23, 2024), for ongoing property maintenance costs at both projects, and for general corporate purposes.

In connection with subscriptions received in the Offering, the Company will pay aggregate cash finder’s fees totaling $334,000 to certain eligible finders. The Shares issued under the Offering are subject to a customary four-month and one day hold period pursuant to applicable securities laws of Canada. The Offering remains subject to the final approval of the TSX Venture Exchange.

The Offering included participation by Andrew Bowering, Chairman, Interim President and Chief Executive Officer, in the amount of $500,000. Such participation constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The issuance of the Shares to Mr. Bowering is exempt from the valuation requirement of MI 61- 101 by virtue of the exemption contained in section 5.5(b) as the Company’s Shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101, in that the fair market value of the consideration of the securities issued to the related parties does not exceed twenty-five percent of the Company’s market capitalization.

The Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Apollo Silver

Apollo Silver 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 the Cinco de Mayo Project, in Chihuahua, Mexico.